The Source for Cyber Insurance News, Insights and Data
In an era dominated by technology, the specter of a cyber catastrophe looms large, posing a threat not fully comprehended. Companies are racing to bolster cyber resilience, and insurers are crafting solutions to these escalating risks. In the Q&A, shared by Chubb, Michael Kessler, Vice President, Chubb Group and Division President, Global Cyber Risk, discusses … Read more
Governor Kathy Hochul has proposed cybersecurity regulations for hospitals, backed by a $500 million budget allocation in the FY24 budget. These regulations aim to fortify hospital networks against escalating cyber threats, complementing the Health Insurance Portability and Accountability Act (HIPAA) Security Rule focused on safeguarding patient data. Under the proposed provisions, hospitals must establish comprehensive … Read more
Allied Market Research reports that the global cyber insurance market, valued at $12.5 billion in 2022, is poised to skyrocket to $116.7 billion by 2032, showcasing an impressive CAGR of 25.3%. This surge results from an increased awareness of cyber risks and a broader range of coverage options. Cyber insurance addresses the fallout of data … Read more
In the dynamic landscape of insurance shopping, a recent TransUnion report sheds light on sustained trends influencing the market. Auto and property insurance shopping rates showed stability compared to Q2 2023. But when measured against Q3 2022 they rose by 12% and 6%, respectively. The report, part of TransUnion’s Insurance Personal Lines Trends and Perspectives, … Read more
Aspen Insurance Holdings Limited (“Aspen”) has appointed Edward Hart as the new International Head of Cyber. Edward, who joined Aspen Insurance in February as a Senior Underwriter, brings a decade of cyber underwriting experience, previously holding key roles at Brit Insurance and Barbican Insurance Group. In his brief tenure at Aspen, Ed has bolstered distribution … Read more