The Source for Cyber Insurance News, Insights and Data
A U.S. bankruptcy judge has approved a cyber liability insurance policy buyback that will allow the company once called 23andMe (now Chrome Holding Co.) to transfer $16.5 million in cash from its cyber insurers to those impacted by its hack (see the key legal document below). The legal decision this week is a step toward … Read more
Vendors Remain the Systemic Nightmare Scenario Cyber insurance still faces its biggest unknown: a major third-party outage hitting thousands of customers at once. On the latest Cyber Insurance News & Information podcast, host and executive editor Martin Hinton talks with Peter Foster, Chairman of Willis’ Global FINEX Cyber Solutions, about that risk. Foster describes a … Read more
As cyber threats targeting government supply chains increase, strong security standards like FedRAMP and StateRAMP ensure agencies can safely adopt cloud solutions. These cloud security certifications set clear cybersecurity requirements, helping federal, state, and local governments protect sensitive data and mitigate third-party risks. SecurityScorecard Expands Cybersecurity Compliance with FedRAMP and StateRAMP SecurityScorecard has achieved StateRAMP … Read more
A new report from SecurityScorecard reveals some interesting details about third-party cyber risks in insurance. Among them, 59% of insurance industry breaches stem from third-party attack vectors. These findings underscore vulnerabilities in the supply chain that expose critical policyholder data to cyber threats. The study analyzed 150 top insurance firms, revealing an industry struggling with … Read more
InsurSec provider At-Bay has introduced two email security solutions aimed at reducing financial fraud claims. The new offerings, At-Bay Stance Fraud Defense and At-Bay Stance MDR for Email are designed to prevent email-based fraud, which is responsible for 90% of financial fraud incidents, according to At-Bay data. Financial Fraud on the Rise The Federal Trade … Read more