Cyber Risk News

Hiscox Endorsement Covers Business Loss by Cyber Deception, Phishing

International specialist insurer Hiscox is now offering a Cyber Deception endorsement as part of its crime insurance that is aimed at protecting businesses against malicious efforts by criminals to trick employees into transferring company funds. Cyber deception is a growing threat …

Interview: D&O Cyber Liability, Cyber Risks Top Lawyers’ Agenda

Jeff Kingsley, a partner with the law firm of Goldberg and Segalla, specializes in technology risks, notably cyber liability and cyber risk, an emerging sector with many variables and pit falls for the unwary, which he explained in an interview …

Willis North America Beefs Up Cyber Risk Practice with 6 Appointments

Willis North America has reinforced its cyber risk management and insurance services with several appointments to its FINEX Cyber/E&O Practice. The following individuals will focus on Willis’ national and multinational clients: Nadia Hoyte has been appointed senior broker in New …

3 from Lockton Join Expanding JLT Specialty’s Cyber Team in U.S.

JLT Specialty Insurance Services Inc., the U.S. subsidiary of specialty insurance and reinsurance broker Jardine Lloyd Thompson Group plc (JLT), has named several cyber risk specialists to its cyber risk team in the U.S. Joining JLT Specialty will be Florence …

Computers at Growing Risk of Hijack by Botnet Viruses, U.S. Says

The threat posed by criminal hackers who use networks of secretly hijacked computers has increased “dramatically” over the past several years, a top U.S. Justice Department prosecutor testified Tuesday. Leslie Caldwell, the assistant attorney general for the department’s criminal division, …

Insurers in Dash for Expertise to Master Cyber Risk Insurance

Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market but their lack of experience and skills handling hackers and data breaches may keep their ambitions in check. High profile cases of hackers seizing sensitive customer data from …

Zurich Introduces Property Coverage for Cloud-Dependent Companies

Zurich North America has introduced new property coverage for cloud-dependent, middle-market companies. As the new property coverage enhancement for companies is not location specific, Zurich now offers insurance coverage for the cyber risks of cloud computing as well as business …

P/C Insurers Must Manage Emerging Risks Including the Next Big One

Learning how to manage increasingly complex and evolving risks is essential if property/casualty insurers are to serve the needs of their customers in a changing world. According to analysts and industry executives at Standard & Poor’s Ratings Services’ Insurance 2014: …

Experts Fear Major Attack Only Way to Stir Corporate Action on Cyber Security

After warning for years that the U.S. electric grid and other critical infrastructure are dangerously vulnerable to hacking, security experts fear it may take a major destructive attack to jolt CEOs out of their complacency. While awareness about cybersecurity has …

Security Expert Practices ‘Cyber-Hygiene’ to Guard Against ID Theft

You won’t find security expert Michael Chertoff doing silly everyday things like using public WiFi, logging in with the same password on every site he uses, clicking on dubious links or falling for a phishing scam. Chertoff, former secretary of …