The Source for Cyber Insurance News, Insights and Data
“Through the partnership, Allianz’s products and distribution network provide long-term capacity for Coalition’s ‘Active Cyber Insurance’ approach to target the SME segment in the US and UK.” Source: Allianz boosts cyber insurance offering with multi-year partnership | Insurance Business America
“Surveyed healthcare cybersecurity leaders reported leveraging multifactor authentication (MFA), identity and access management, and privileged access management (PAM) solutions in hopes of lessening the likelihood of a cyber insurance premium hike, a report from Imprivata conducted by WBR Insights found.” Source: Orgs Adopt Healthcare Cybersecurity Tech to Keep Cyber Insurance Premiums Down
LIkely a confusing and counter-productive take, in our opinion. DHS is now, in effect, raising questions about whether businesses should get cyber insurance. Or is the agency implying businesses self-insure against ransomware but obtain coverage for other cyber risks? Government will not be the primary driver of improved cyber security. As with fire safety, loss … Read more
Where do premiums end up? And with what controls and limits? “‘For all the work done by the cyber insurance marketplace to achieve rate, there still needs to be a correction to some extent,’ said Jacob Ingerslev, head of Cyber & Tech Underwriting at Tokio Marine HCC. ‘Despite all of the changes – all the price … Read more
[NY State appeared to gain jurisdiction via Carnival’s former insurance business.] “New York’s Department of Financial Services said Carnival violated a state cyber security regulation by failing to use multi-factor authentication that would make it harder for wrongdoers to access its internal network. It also said Carnival failed to report one breach and conduct adequate … Read more