Who’s Paying the Most for Cybersecurity Insurance? Advisor Smith reports Highest Cyber Insurance Premiums by Industry, Plus State Info 

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Good summary, linked at bottom, from @ElanaAshanti based on detailed research from Adrian Mak @AdvisorSmith. We view the data as indicative/directional due to cohort of companies* analyzed (see below). Top 5 industries by cost of cyber insurance* for a small business, according to Advisor Smith analysis: Payment Processing $2,449 Financial Services (other) $2,429 Investment Services … Read more

More Companies Call the Lawyers First After Cyber Attacks — But Does This Weaken Responses to Breaches? 

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“While the strategy may protect companies in the case of a lawsuit, since much of a legal firm’s research would be considered privileged information, the legal layers also make the collection of breach data more difficult, says (Josephine Wolff, an assistant professor for cybersecurity policy at Tufts University’s Fletcher School of Law and Diplomacy). Wolff … Read more

Business Interruption Among Topics in Insurance Journal’s Top Cyber Stories of 2021

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“According to (Procor Solutions and Consulting’s Chris) Mortifoglio, who is a Certified Public Accountant and a Certified Fraud Examiner (CFE), understanding the ‘nuances and differences’ of a cyber insurance business interruption exposure or claim situation compared to a traditional one is more important now than ever.” Source: Insurance Journal’s Top Cyber Stories of 2021

Personal Cyber Insurance Market Is Here: Tokio Marine

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“NetGuard® Select, Tokio Marine HCC – Cyber & Professional Lines Group’s stand-alone personal cyber insurance is rated and underwritten to make it accessible to other classes of risk, according to (company Vice President Kareen) Boyadjian, who pointed out that the minimum annual premium for NetGuard® Select is just $500.” Source: Personal cyber insurance market to … Read more

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