Cyber Risk News

LIU Adds Cyber Extortion Endorsement to Product Recall Policies

Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has launched a cyber extortion endorsement to its Product Recall and Contamination insurance policy for food and beverage companies. This endorsement offers coverage to food and beverage policyholders for cyber extortion …

Chubb Adds Cyber Bullying Insurance for U.S. Homeowners

Chubb has added cyber bullying coverage to its U.S. Masterpiece Family Protection policy to help cover clients and their families from the expenses associated with a cyber bullying incident. According to Christie Alderman, vice president, Client Product & Service, Chubb …

Islamic Militants Could Target Nuclear Industry, Security Experts Warn

Meter-thick concrete walls and 1950s-style analog control rooms help protect nuclear plants from bomb attacks and computer hackers, but Islamist militants are turning their attention to the atomic industry’s weak spots, security experts say. Concerns about nuclear terrorism rose after Belgian …

Beazley Provides Data Breach Response Insurance in Canada

Beazley announced the launch of the company’s flagship Beazley Breach Response (BBR) product in Canada, which is data breach response insurance that protects the personal data of up to five million individuals per breach. Canada’s Digital Privacy Act, passed in …

Top Exposures Facing Global Middle Market Firms Vary by Region: Assurex Survey

While all middle market businesses across the world have concerns about cyber risk, few of these firms view it as their biggest exposure, according to a global survey* of 68 leading independent insurance brokers, which gauged the concerns of their …

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 …

Former U.S. Security Specialist’s MGA Ridge Global Tackling Cyber Risks

It may be surprising to some that a former governor and head of National Security started an insurance company focused on cyber risk, but Tom Ridge, president and CEO of Ridge Global says it shouldn’t be. “While the world is …

Chubb Global Cyber Practice Launches Service to Combat Ransomware Attacks

In response to a 430-percent growth rate in Chubb’s criminal-related cyber losses over the past five years, Chubb’s Global Cyber Risk Practice has launched a service to assist policyholders with ransomware attacks. This is the first new offering from Chubb’s …

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 larger …

Israeli Cyber Security Business Foundry, Team8, on Track to Build 5 Firms by 2020

Team8, a cyber security business foundry created by veterans of the Israeli army’s technology and intelligence unit 8200, said it closed a $23 million round of financing. Team8 plans to use the money to develop five companies over the next …