The Source for Cyber Insurance News, Insights and Data
We’ve discussed other findings from the recent Bermuda Monetary Authority (BMA) report, but we’re also struck by the increase in cyber insurance captives and cyber ILS vehicles documented by the financial regulator. The growth of Cyber Insurance Captives and Cyber ILS (Insurance-Linked Securities) is all related to the growth of reinsurance in the cyber market; … Read more
Here it is—Your Cyber Insurance Sunday—Upload. The latest cybersecurity insurance news. A few items from the week. Some from us, some from others: Delinea on the importance of Identity; Coalition grows; Bermuda Monetary Authority with a must-read report; Hartford Steam Boiler’s personal cyber insurance; A concerning report on Britian’s National Crime Agency (NCA); And a … Read more
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