The Source for Cyber Insurance News, Insights and Data
Pen Underwriting has relaunched its cyber insurance proposition for large corporate clients, marking a significant expansion in its coverage and risk appetite. Announced on October 17, 2024, the revamped offering includes £10 million in primary cover and a £15 million limit for excess of loss (XOL), backed by a consortium of A-rated capacity providers with … Read more
Humans are the heartbeat of any organization, driving innovation, decision-making, and daily operations; as both customers and employees, they keep businesses afloat. However, with human involvement comes the inevitability of human error. This issue transcends industries—whether it’s the 1999 NASA Mars Climate Orbiter crash caused by a metric conversion error or the 2021 Colonial Pipeline … Read more
Despite the growing adoption of cyber insurance across large enterprises, a striking gap remains in executive and boardroom engagement with these crucial policies. According to the 2024 Cyber Insurance Report by QBE North America and Zywave, only 38% of companies frequently discuss cyber insurance at the C-suite level, and fewer than 20% of boards are … Read more
Directors and Officers (D&O) insurance can be an essential part of protecting executives’ personal assets and mitigating the risks companies face from lawsuits tied to management decisions. With this concern in mind, there is news that Concierge Cyber has introduced two new products, Concierge Cyber with D&O Shield and Concierge Cyber with Entity Shield, to … Read more
Small and mid-sized businesses (SMBs) are grappling with a critical shortage of cybersecurity skills, leaving them vulnerable to increasingly sophisticated cyberattacks, according to a recent report from Sophos. The report, published in October 2024, highlights the disproportionate impact of the global cybersecurity talent shortage on organizations with fewer than 500 employees. These businesses, it warns, … Read more