The Source for Cyber Insurance News, Insights and Data
New Zealand’s Latitude Financial suffered a ransomware attack, reportedly via an IT vendor. Estimates are that one fifth (!?) of New Zealand’s population had personal data exposed by the attack. “However, the company has confirmed that it has substantial insurance coverage that will help offset some of the direct costs.” It’ll be interesting to see … Read more
Electric vehicles and their infrastructure will create new complexity for insurers. What if a hacker creates a massive car crash? Or a grid is taken down by malware originating in an EV being charged? “In a bid to get the issue under control, insurance companies and EV manufacturers could standardize best practices as a way … Read more
“The company’s new feature provides a quick and easy onboarding process that gets brokers from sign-up to receiving quotes from a selection of approved carriers in minutes, eliminating the need for prior broker appointments. The traditional process of onboarding and subsequently quoting with carriers can take weeks, which can be a significant setback for those … Read more
According to this report, the evolution of cyber insurance is in some ways similar to the insurance industry’s response to the dangers of steam boilers as they became more common. “From The History of Hartford Steam Boiler: ‘Most dismissed these incidents as ‘acts of God.’ People who ran industrial concerns simply assumed that their boilers … Read more
The cyber insurance provider to SMBs won a Global InfoSec Award from Cyber Defense Magazine in the category of Hot Cyber Insurance. “‘Cowbell embodies three major features we judges look for to become winners: understanding tomorrow’s threats, today, providing a cost-effective solution and innovating in unexpected ways that can help mitigate cyber risk and get … Read more