The Source for Cyber Insurance News, Insights and Data
Broker urges patience as industry develops sustainable approach to ransomware and other cyber issues…unfortunately, the cyber crooks are anything but patient. “Obviously, you can see just how difficult it is to be a broker right now, regardless of how up-front you are with renewing cyber insurance programs, because we’re reacting to the insurance carriers who … Read more
The breach involve employee emails. “The company then conducted a manual review of the emails to determine whether they contained sensitive information. This process, completed on June 30, 2021, showed that certain personal information for a limited number of individuals was accessible although not necessarily actually accessed or viewed by unauthorized individuals.” Source: Ryan Specialty … Read more
“It’s not an easy path to navigate, (Nick) Shah (a former kidnap and hostage negotiator) said, and it is made even more complex by the fact that cyber negotiations tend to involve the written word rather than a verbal discussion. In hostage negotiations, you can talk to the threat actors involved, which makes it easier … Read more
Kocsondy was formerly an SVP at Chubb. Source: Beazley hires Patricia Kocsondy as Head of US Cyber & Tech – Reinsurance News
This reminds us of the push after 9-11 for the US government to share terrorism losses with the insurance industry, which led to the Terrorism Risk Insurance Act, or TRIA. TRIA’s 2019 extension included a requirement for the federal government to study whether a similar structure might work for cyberterrorism. “Cyber – as some other … Read more