The Source for Cyber Insurance News, Insights and Data
We’ve written about the growth of personal cyber insurance and the challenges associated with it. Major insurance carriers continue to pursue the business, concluding that trends from the COVID pandemic provide tailwind for the market. “’When commercial cyber losses started coming with frequency and severity, it wasn’t just the businesses who were hit by extortion … Read more
It’s a digital coup d’état as the Cyber & Professional Lines Group (CPLG), part of the Tokio Marine HCC consortium, welcomes Catherine Lyle. Lyle joins as its new maestro of cyber claims and incident response. The stage is set, the spotlight is on, and the cyberworld is her canvas. Effective September 25, 2023, Ms. Lyle … Read more
The magazine surveyed brokers, who provided the Top 10 list of criteria most important to brokers’ analysis of cyber insurers. The Top 5: coverage, claims payment/processing, underwriting expertise, cyber response and flexibility. Spoiler alert: Tokio Marine and Crum & Forster are probably sharing the results of the survey. Read the useful report here: Source: The … Read more
The lesson Moline had already heeded was to have cyber insurance. Tokio Marine paid out $404,764 for losses the city suffered in a phishing scheme that directed wire transfers to a scammer. The second lesson was prompted by the attack and its aftermath. “Moline has since reviewed all of its internal control policies with the … Read more
“NetGuard® Select, Tokio Marine HCC – Cyber & Professional Lines Group’s stand-alone personal cyber insurance is rated and underwritten to make it accessible to other classes of risk, according to (company Vice President Kareen) Boyadjian, who pointed out that the minimum annual premium for NetGuard® Select is just $500.” Source: Personal cyber insurance market to … Read more