The Source for Cyber Insurance News, Insights and Data
The cyber insurance market is undergoing significant changes, driven by the increasing scale and sophistication of cyberattacks worldwide. The Bermuda Monetary Authority’s (BMA) 2023 Bermuda Cyber Underwriting Report highlights how emerging technologies, such as generative AI, heighten cyber risks by enabling more sophisticated and targeted attacks. This shift has fueled a surge in demand for … Read more
Remember the good old days when verifying a credit card involved little more than matching signatures on a card and a receipt? If your signature looked like a squiggly line of abstract art, you might have been home free. Those simpler times are long gone, replaced by the sophisticated world of modern cybercrime and cybersecurity. … Read more
Recent and historical data incidents, such as the 2021 Colonial Pipeline ransomware attack and the 1998 near-loss of Pixar’s Toy Story 2, underscore the critical importance of robust data backup strategies. The Colonial Pipeline attack, which disrupted oil supplies and forced the company to pay a $4.4 million ransom, exposed vulnerabilities in data protection. Meanwhile, … Read more
HSB (Hartford Steam Boiler), part of Munich Re, has expanded its personal and family cyber insurance to help customers deal with new digital risks. This includes protection against things like internet fraud, connected vehicle hacks, and the emotional stress caused by cybercrime. Along with insurance coverage, HSB also provides tools for preventing cyberattacks and offers … Read more
There is no shortage of reports on the cyber insurance market, but their value is undeniable, given the dynamic, persistent, and growing nature of cyber threats. With cyber risks constantly evolving, staying up to speed on cyber insurance market trends has never been more crucial. The latest State of the Market report from Amwins, a … Read more