cyber liability News

Is Equifax’s Cyber Insurance Enough to Cover Breach?

Equifax Inc.’s insurance against cyber breaches is likely inadequate to cover the credit-reporting company’s costs tied to one of the biggest hacks in history, according to people familiar with the coverage. The company holds a policy that would probably cover …

Texas Stamping Office: Surplus Lines Cyber Growth Keeps Up with Demand

In Texas and across the nation, the surplus lines insurance market is keeping up with the increase in demand for cyber liability protection, according to the Surplus Lines Stamping Office of Texas (SLTX). Surplus lines insurers have evolved over the …

At Least 60 Chipotles in Minnesota Hit by Malware

Chipotle says customers at more than 60 of its fast food restaurants in Minnesota are among hundreds across the country exposed to possible credit or debit card fraud. Chipotle says many of its locations were victims of the malicious software …

MGA Nirvana Targets Media, Technology & Cyber Risks on Castel Platform

Nirvana Risk Partners has launched as an underwriting cell on Castel Underwriting Agencies’ MGA formation platform, targeting media, technology and cyber liability risks. Nirvana will underwrite risks for small and large enterprises on a global basis with a particular emphasis …

How to Help Insureds Manage Customer Privacy Risk

Insurance carriers and agents have come to learn that increased data can lead to greater risk for insureds, and they are increasingly advising businesses to disclose data collection practices while seeking to gain insurance coverage, according to David Garrett, president …

What Executives Need to Know About Managing D&O Liabilities: Allianz Report

Company directors and senior managers across the globe are increasingly likely to face costly regulatory investigations, criminal prosecutions or civil litigation, which not only put their company’s assets, and their own assets, at risk, but also may threaten their personal …

Pen Underwriting Names Scott as Head of Cyber Liability, Driving Cyber Growth

Pen Underwriting announced that Adrian Scott has been appointed to the newly created role of head of Cyber Liability. Scott takes responsibility for enhancing Pen Underwriting’s capabilities in cyber risk management and insurance, building a dedicated team of sector specialists …

Re/Insurers Must Respond to Evolving Terrorist Risk with Relevant Products: JLT

The re/insurance industry is failing to respond to the growing global terrorist threat with products that meet the needs of their clients, according to a report published by JLT Re and JLT Specialty Ltd. Indeed, evidence that insurance has absorbed …

Untested Cyber Coverage Remains ‘Volatile,’ Experts Say

With cyber insurance premiums expected to grow from around $2 billion in 2015 to an estimated $20 billion or more by 2025, insurers and reinsurers are continuing to work out underwriting requirements, and the market can be characterized as “volatile,” …

Chubb Offers ‘Cyber Enterprise Risk Management’ Solution for European Clients

Chubb announced the launch of Cyber Enterprise Risk Management, as the company continues to invest in its cyber risk capabilities across Europe. Cyber Enterprise Risk Management as “an end-to-end risk management solution, designed to meet the needs of middle-market and …