The Source for Cyber Insurance News, Insights and Data
Middle Market Cybersecurity Breaches Decline But Risks Persist Cyber risks are growing more complex, yet data breaches in the U.S. middle market have decreased. According to RSM US LLP’s 10th Annual Cybersecurity Special Report, 18% of middle market companies experienced a breach in the past year. That’s down from 28% the previous year. Still, experts … Read more
Lloyd’s has made a strategic investment in cyber technology firm BreachBits through its central innovation fund. This marks the third investment from Lloyd’s Lab alumni, following BreachBits’ participation in the accelerator’s 13th cohort. BreachBits, founded by former US cyber warfare professionals, developed two automated tools aimed at enhancing cyber insurance efficiency. Lloyd’s market participants helped … Read more
K2 Cyber has announced a new partnership with TransUnion to expand cybersecurity services for small and midsize businesses (SMBs). As part of the collaboration, K2 Cyber clients will gain access to TransUnion’s TruEmpower™ CyberScout solution. The service provides incident response, forensic consultation, identity theft tools, and a crisis hotline. K2 Cyber CEO Keith Moore said … Read more
Cyber risk firm Resilience has named Maria Long as its new Chief Underwriting Officer. Long will oversee underwriting operations and strategy across Resilience’s growing portfolio. She reports directly to George Kotsiopoulos, President of Insurance. Kotsiopoulos cited Long’s cyber expertise as critical to the company’s goals. “Maria’s experience in cyber risk is difficult to match,” he … Read more
Fitch Ratings reports that US cyber insurance premium rates continue to decline for the third consecutive quarter. Premiums are expected to remain under pressure unless a major cyber event occurs. In 2024, cyber insurance remained profitable. However, direct written premiums fell for the second year. The drop stemmed from reduced rates and fewer active policies. … Read more