Cyber Risk Management

GAO Report: Coast Guard Must Strengthen Maritime Cybersecurity

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The U.S. Government Accountability Office (GAO) has released a report urging the Coast Guard to enhance its oversight of the Maritime Transportation System (MTS) to address shortcomings in maritime cybersecurity. The report, titled “Coast Guard: Additional Efforts Needed to Address Cybersecurity Risks to the Maritime Transportation System,” identifies critical vulnerabilities, gaps in oversight, and deficiencies … Read more

Cyber Insurance in 2025: Key Risks and Challenges Facing Businesses

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Cyber Insurance at the Forefront of Risk Management Cyber insurance remains one of the fastest-growing sectors in the insurance industry. As cyber threats escalate globally, businesses are expanding coverage to safeguard against emerging risks. The Policyholder Review 2024/25, from UK law firm Stewarts, is their first annual review of the insurance disputes landscape. The report … Read more

Cyber Monitoring Centre Launches UK Cyber Event Classification System

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The Cyber Monitoring Centre (CMC) has launched a classification system to categorize cyber events affecting UK organizations. This initiative provides a way to assess and communicate the severity of cyber incidents. The system ranks events on a scale from one (least severe) to five (most severe). Cybersecurity Monitoring The way we think about the Cyber … Read more

Third-Party Cyber Risks Endanger Insurance Industry: 59% of Breaches Linked to Vendors

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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

Converge Cyber Insurance Expands – New Underwriting Capacity from Obsidian

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Converge Insurance has secured underwriting capacity from Obsidian Insurance Group. This enables it to offer cyber insurance for companies with up to $1 billion in revenue. A panel of reinsurers backs the partnership and aims to support wholesale brokers with comprehensive cyber coverage. Expanded Cyber Insurance Capacity Converge cyber insurance offerings include: Leadership Statements on … Read more

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