The Source for Cyber Insurance News, Insights and Data
UK Government Introduces Stronger Cyber Security Bill The first line delivers a message. “The first duty of this government is to keep its citizens safe,” says UK Secretary of State Peter Kyle, framing cybersecurity as a public safety issue. These words come in a new Policy paper relating to a bill designed to address the … Read more
Travelers Offers New Cyber Risk Services The Travelers Companies, Inc. has launched a new suite of cybersecurity tools. These are now included in all its cyber liability policies. The package, called Travelers Cyber Risk Services, aims to help businesses prevent, detect, and recover from cyberattacks. Key Features for Cyber Liability Policies Key features include a … Read more
Rising Family Office Cyber Threats Prompt Urgency Cybercriminals go where the money is, but too many family offices are leaving the vault door wide open. A new report by Deloitte reveals that nearly half of family offices worldwide have suffered cyberattacks in the last two years. Amazingly, 63% operate without cyber insurance. These private financial … Read more
According to S&P’s Cyber Risk Insights: Cyber Catastrophe Bonds Offer Greater Scope for Risk Mitigation, the cyber ILS market is poised for significant expansion. With rising demand for cyber insurance, interest in cyber insurance-linked securities (ILS) is growing. However, challenges such as policy standardization, investor education, and complex risk modeling may slow its progress. Cyber … Read more
Marsh has introduced Cyber Echo Encore. This is an enhancement to its Cyber Echo insurance facility. The expansion provides up to $45 million in additional cyber insurance capacity. The cyber risk protection is underwritten by London market insurers outside of Lloyd’s. Broader Coverage Beyond Lloyd’s Market Lloyd’s launched Cyber Echo in 2016, making it the … Read more