What’s the Worst Case for a Catastrophic Cyber Attack? Coalition Has Been Modeling It 

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“Built on Coalition’s proprietary data collection platform and knowledge graph, which captures 48 trillion monthly events, the Active Cyber Risk Model offers a more accurate picture of cyber risk for organizations and the broader economy. In a simulation modeled against a sampling of 5,000 American companies, Coalition found that a one-in-250-year cyber event could cost … Read more

What Happens When Ransomware Prevention Fails? Eos Venture Partners Bets on Hour-One Ransomware Response from Fenix24 

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Eos is investing $5m in Fenix24; valuation was not released. The investment demonstrates growing industry focus on “right of the boom” cybersecurity technology — loss management for when pre-breach underwriting standards and risk controls have failed to prevent an attack. “‘As Ransomware-as-a-Service has grown, the business impact of cyberterrorists’ ransomware attacks has also increased significantly—more … Read more

Hacked Hospital Says Prep to Qualify for Cyber Insurance Helped in Ransomware Attack 

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Maryland’s Atlantic General Hospital was hit at the end of January by a ransomware attack that disrupted operations, but did not penetrate electronic health records, which had a separate host, the hospital’s CEO reported. “’We will survive this,’ (Don Owrey, president and CEO) said. ‘It’s been incredibly disruptive to our business operations, as you can … Read more

Many Mid-Sized Companies That Are Required To Have Cyber Insurance Don’t: Survey 

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Huntress Labs, and MSP, had the survey conducted. It involved 256 “mid-sized businesses” with app. 250-2,000 employees each. “Carrying cyber insurance coverage was a key issue for respondents. While 69% of respondents are required to carry some form of cyber insurance, 35% find it extremely difficult to obtain coverage…27% have no insurance coverage at all.” … Read more

Insurance for When Real-Life Thieves Attack Your Virtual Game

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“From mastering complex quests in mythical lands to outmaneuvering opponents in virtual battlefields, gaming has captured the hearts of millions worldwide. But what happens when a gamer’s account is compromised by a cyberattack and valuable digital assets are stolen? ‍Waffle, an all-in-one consumer InsurTech solution, and BlinkSM by Chubb®, a growing suite of Chubb-backed digital … Read more

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