Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Casualty Losses Provide Impetus for 2019 Rate Firming: Willis Towers Watson
Nov 7 2018 // Commercial insurance buyers are facing upward pricing pressure across most lines of business in 2019, driven in part by escalating losses in the casualty insurance market, according to a report by Willis Towers Watson. The...
Great American Insurance Names Liberty Mutual’s Artin to Cyber Liability Team
Nov 7 2018 // Great American Insurance Group has hired Kelli Artin as divisional vice president of Cyber Liability. Artin will focus on the distribution strategy and marketing of the company’s cyber risk insurance offerings. Artin...
World’s Biggest Airline Data Breach at Cathay Pacific Probed by Hong Kong Watchdog
Nov 6 2018 // Hong Kong’s privacy watchdog is investigating Cathay Pacific Airways Ltd. after the carrier last month disclosed the world’s biggest airline data breach that exposed personal information of 9.4 million...
AXA XL, Slice Labs Launch On-Demand Cyber Coverage for Small, Mid-Size Businesses
Nov 5 2018 // Slice Labs Inc., an on-demand insurance cloud provider, and AXA XL, a division of AXA, have launched a new cyber insurance policy specifically designed for small and midsize businesses (SMBs). Powered by Slice’s...
Iowa’s FMH Launches New Cyber Risk Protection for Farmers
Nov 5 2018 // West Des Moines, Iowa-based Farmers Mutual Hail Insurance Company of Iowa (FMH) is now offering FMH Cyber Risk Protection suite, which includes two new cyber risk products to provide protection and services in the event an...
South Carolina Insurer Data Security Law Should Be Nationwide Role Model
Nov 5 2018 // In October 2017, the National Association of Insurance Commissioners (NAIC) adopted the Insurance Data Security Model Bill, also known as the NAIC “Model Law.” NAIC’s “Model Law” seeks to...
7 Critical Areas Directors and Officers Should Watch in 2019
Nov 5 2018 // Risk management involves looking around the corner to spot future threats. When it comes to director and officer liability, the question is this: What’s on the horizon for directors and officers in 2019? Here are...
Federal Cyber Privacy Bill Calls for Fines, Prison for Executives’ Violations
Nov 2 2018 // A senior Democratic U.S. senator on Thursday unveiled draft legislation that would allow hefty fines and as much as 20-year prison terms for executives who violate privacy and cybersecurity standards. Senator Ron Wyden...
British Airways’ Data Breach Was More Extensive than Original Estimates
Oct 26 2018 // International Airlines Group said an investigation into the theft of customers’ data at its British Airways subsidiary showed hackers may have stolen the personal information of a further 185,000 customers. British...
Cathay Pacific Cyber Attack Is World’s Biggest Airline Data Breach
Oct 26 2018 // Cathay Pacific Airways Ltd. said a hacker accessed personal information of 9.4 million customers, becoming the target of the world’s biggest airline data breach. The airline’s shares sank the most in almost two...
AXA Mexico Confirms Client Information, Resources Are Safe After Cyber Attack
Oct 25 2018 // AXA Mexico said the information and resources of its customers are safe and have not been affected by a cyber attack, which it discovered on Oct. 22. In a statement, AXA Mexico said that it had “identified anomalies...
AXA Cyber Attack Prompts Mexico Central Bank to Issue Security Alert
Oct 24 2018 // Mexico’s central bank said on Tuesday it had raised the security alert level in its payment system after a non-banking financial user reported “inconsistencies” in the cash payment matching...
AIR Worldwide Develops Probabilistic Model for Global Cyber Risks
Oct 22 2018 // Catastrophe risk modeling firm AIR Worldwide announced it has developed a probabilistic model for cyber risk, which is capable of accounting for security breach and cloud service provider downtime incidents for insurance...
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
The Changing Risk and Liability Landscape: New Tech, New Loss Scenarios
Oct 19 2018 // Advancements in technology are changing the risk landscape irrevocably and driving potential big changes in liability, and other insurance, claims activity. The opportunities for business from new technologies such as...
15 Emerging Risks from Policies to Playgrounds, Sandboxes to Scooters
Oct 18 2018 // When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some...
Hackers with Russian Ties Hit 3 E. European Companies: Cyber Security Firm
Oct 17 2018 // Hackers have infected three energy and transport companies in Ukraine and Poland with sophisticated new malware and may be planning destructive cyber attacks, a software security firm said on Wednesday. A report by...
Lax Cyber Security Could Be Federal Law Violation, SEC Warns
Oct 17 2018 // Public companies that fail to tighten their cyber security controls could be violating federal law, the U.S. Securities and Exchange Commission (SEC) said on Tuesday. The regulator’s warning came in the form of a...
UK Cyber Security Center Blames Most Attacks on Hostile States
Oct 16 2018 // The U.K.’s National Cyber Security Centre blamed hostile foreign states for the majority of the 1,167 attacks it has handled in the two years it’s been running, equivalent to 10 assaults a week. In the...
International Marine Underwriters Adds Cyber Coverage to Marine Policies
Oct 16 2018 // International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has expanded its product offering with information risk coverage to address a broad range of cyber incidents including data breach, threat of...
