Cybersecurity

Email Fraud Dominates Cyber Claims in 2023: Coalition Report

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Coalition, an Active Insurance provider, released its 2024 Cyber Claims Report, revealing that over half of all cyber insurance claims in 2023 were due to email-related fraud. The report, detailing emerging cyber trends and their impact on policyholders, found that 56% of claims stemmed from funds transfer fraud (FTF) and business email compromise (BEC), underscoring … Read more

FortiFI: One-Stop Cyber Insurance for Financial Institutions

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IQUW introduced FortiFI, a new insurance product combining Financial Institutions (FI) coverage with Cyber insurance, specifically tailored for U.S. clients. This integration addresses the growing concerns around cybersecurity, especially given that nearly 20% of global cyber-attacks target financial institutions. Tristram Prior, Lead Underwriter for IQUW Financial Institutions, emphasized the product’s significance, stating that a recent … Read more

Moody’s and Bitsight Launch ICT For Cyber Risk Assessment

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Bitsight and Moody’s have jointly launched the Implied Cyber Threat (ICT). This new tool is designed to assess cyber risks for over 325 million organizations globally. This initiative significantly expands market coverage, surpassing other offerings by over 25 times. The ICT leverages Bitsight‘s cyber risk analytics engine and Moody’s extensive company database to offer insights … Read more

Zurich North America Announces Kara Higginbotham as Head of Professional Liability and Cyber for U.S.

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Zurich North America has announced Kara Higginbotham’s appointment as the Head of Professional Liability and Cyber for U.S. National Accounts. Higginbotham will lead a team of underwriters tasked with serving the company’s largest corporate and middle-market clients in the United States. In her new role, Higginbotham will manage the development and implementation of the underwriting … Read more

Cyber Insurance Sunday – Upload

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Here it is—Your Cyber Insurance Sunday—Upload. The latest cybersecurity insurance news. A few items from the week. Some we reported on, and others we found interesting: Zywave, Cyberboxx, and CRC with moves, The First-Ever Cloud Outage Cat Bond, Election Risks and Staggering numbers coming out in the wake of the United Healthcare hack. There’s more. … Read more

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