Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
CFC Underwriting Offers Cover for Financial Institutions, Investment Managers
Jun 14 2018 // Specialist insurance provider, CFC Underwriting, has launched its first insurance solution for financial institutions. CFC’s Investment Management Insurance (IMI) policy is the first in a suite of products designed...
UK Banks Should Be on ‘War Footing’ over Rising Cyber Threats: Regulator
Jun 13 2018 // The Bank of England told banks to be ready for war against the mounting threat of crippling cyber attacks. “I would like our firms to be on a WAR footing: withstand; absorb; recover,” Lyndon Nelson, deputy...
UK Electronic Retailer Dixons Carphone Hit by Major Cyber Attack
Jun 13 2018 // British mobile phone and electricals retailer Dixons Carphone has become the victim of a major cyber attack for the second time in three years after discovering unauthorized access to its payment card data. Shares in...
Cyber Business Interruption Remains Area of Uncertainty for Insurance
Jun 12 2018 // Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the newly growing area of non-physical threats? Panelists at the 2018 PLUS Cyber Symposium,...
Bank of Chile Hit by $10 Million Cyber Heist Using SWIFT Messaging System
Jun 12 2018 // Shares in the Bank of Chile were down on Monday after it confirmed hackers had siphoned off $10 million of its funds, mainly to Hong Kong, though the country’s second-largest commercial bank said no client accounts...
XL Catlin Adds Cyber Solution to UK Casualty Insurance Offering
Jun 12 2018 // XL Catlin’s insurance operations in the UK announced the extension of its casualty insurance offering to include a cyber solution. The endorsement – which is designed for mid-sized and large companies that...
FBI, International Law Enforcement Disrupt Business Cyber Fraud Schemes
Jun 12 2018 // Federal law enforcement officials announced a significant coordinated effort to disrupt Business Email Compromise (BEC) schemes used to intercept and hijack wire transfers from businesses and individuals, including senior...
Breckenridge Insurance Services Hires Commercial Insurance Cyber Specialty Broker Ashley Holtz
Jun 8 2018 // Ashley Holtz Atlanta, GA, June 8, 2018 — Breckenridge Insurance Services is pleased to announce Ashley Holtz has joined the wholesale brokerage team as assistant vice president and broker. Holtz brings additional cyber...
Lawsuit Filed Against Hawaiian Restaurant Chain After Data Breach
Jun 7 2018 // Two people have filed a class-action lawsuit against Hawaii restaurant chain Zippy’s. Zippy’s alerted its customers April 27 that it experienced a data breach at all of its 25 restaurant, Napoleon’s...
Personal Cyber Insurance-Security Packages Being Tested with Wealthy
Jun 7 2018 // Insurance is supposed to make you feel safe, but even those who sell special cyber-security protection packages worry about hacking threats. What makes Jerry Hourihan lose sleep is that everyone’s information already...
Lloyd’s Index Shows $92B at Risk in North American Cities Each Year
Jun 6 2018 // Powered by InsuranceJournal.tv Cities in the U.S. and Canada stand to lose $92.96 billion per year to risks like market crash, cyber attack and flood, an index from Lloyd’s released today shows. Lloyd’s newly...
Pembroke Syndicate 4000 Adds Cyber Endorsement to Investment Management Policy
Jun 6 2018 // Pembroke Syndicate 4000 has developed an endorsement for its Investment Management Insurance (IMI) policy offered by the Financial Institutions unit in London. Pembroke’s new endorsement will accompany the standard...
New Coalition Cyber Coverage for Real Estate Industry Targets Smart Buildings
Jun 6 2018 // Coalition, a technology-enabled cyber insurance provider, has launched a new cyber insurance offering specifically designed to address emerging risks, such as the internet of things (IoT), facing real estate developers,...
Energy Sector Cyber Insurance, Cybersecurity Struggles Leave Taxpayers, Customers Exposed
Jun 4 2018 // Insurers are limiting how much coverage energy companies can buy to protect themselves against a major attack by hackers, potentially leaving investors, customers and taxpayers on the hook for sizable losses. Brit...
South Carolina Passes First Insurance Industry Cybersecurity Law
Jun 4 2018 // South Carolina has become the first state to pass a model cybersecurity bill requiring any insurance entity operating in the state to establish and implement a cybersecurity program protecting their business and their...
Cyber Market Grew 32% But Small-Medium Firms Opted Out
Jun 4 2018 // The U.S. market for cyber insurance grew significantly in 2017, as direct premiums written rose nearly 32 percent year-over-year to $1.8 billion, and policies in force jumped 24 percent to 2.6 million, according to an A.M....
South Carolina Passes First Insurance Industry Cybersecurity Law
May 31 2018 // South Carolina has become the first state to pass a cybersecurity bill requiring any insurance entity operating in the state to establish and implement a cybersecurity program protecting their business and their customers...
FBI Urges Rebooting, Upgrading Office, Home Routers After Russian Hacking
May 29 2018 // The FBI warned on Friday that Russian computer hackers had compromised hundreds of thousands of home and office routers and could collect user information or shut down network traffic. The U.S. law enforcement agency urged...
2 Banks Report First Cyber Attack Against Canadian Financial Institutions
May 29 2018 // Bank of Montreal and Canadian Imperial Bank of Commerce said on Monday that cyber attackers may have stolen the data of nearly 90,000 customers in what appeared to be the first significant assault on financial institutions...
Cyber Reinsurance Underwriting Group Formed for London Market
May 24 2018 // The International Underwriting Association of London (IUA), representing carriers operating in or through London, has formed a group on cyber underwriting specifically for reinsurers. The organization said the move follows...
