The Source for Cyber Insurance News, Insights and Data
“Unlike traditional cyber insurance policies, which can be complicated and difficult to amend, modularity allows brokers to offer customized policies with negotiated coverages specific to a client’s exposure. Customizing coverages in a traditional cyber policy requires either full redrafting or endorsements that can make it difficult to understand what the policy actually covers, Resilience said. … Read more
“If Russia carries out a large cyber attack which spills over into several countries, it could lead to claims totalling (sic) $20 billion or more, similar to insurance claims from a large U.S. hurricane, the industry sources said on condition of anonymity.” Source: Analysis – Cyber Insurers Face Large Ukraine War-Related Claims Despite Exclusions
You’ve got a month-and-a-half to suggest “any potential changes to the [Terrorism Risk Insurance Act] or [Terrorism Risk Insurance Program] that would encourage the take up of insurance for cyber-related losses arising from acts of terrorism as defined under TRIA, including but not limited to the modification of the lines of insurance covered by … Read more
“The ICA’s policy paper recommended: Better data sharing from the insurance industry to the government and vice versa to prevent, detect, and report cyberattacks; Mandatory minimum-security requirements and third-party certifications for software and hardware to reduce cyberattack vulnerability; and Investment incentives for cyber risk education and businesses willing to disclose and work with enforcement agencies. … Read more
“Cowbell Cyber has appointed Joshua Chan as its new CTO. Chan will be joining the firm from Zimperium, where he was previously that company’s vice president of engineering.” Source: Cowbell Cyber hires new CTO – Reinsurance News