Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
4 Takeaways for Agencies to Do in 4 Months
Jun 5 2017 // Where does the time go? Four months into 2017, here are four industry observations and four action items every insurance agency principal can take before the next four months pass. The Industry 1. Merger and acquisition...
Ransomware Risk: 4 Questions to Ask to Optimize Cyber Insurance
Jun 5 2017 // Following the “WannaCry” ransomware cyberattack in at least 140 countries, insurers, brokers and cyber risk management specialists are working with businesses to report claims, improve and expand existing cyber...
Designing D&O Coverage for a Growth Environment
Jun 5 2017 // There is a seemingly ever-growing legal threat being faced by corporate executives, fueled by the multitude of entry points with which risks can penetrate and give rise to a severe loss. Whether a board is faced with...
Cyber Criminals or State-Backed Hackers? It’s Getting Harder to Tell…
Jun 2 2017 // Veteran espionage researcher Jon DiMaggio was hot on the trail three months ago of what on the face of it looked like a menacing new industrial espionage attack by Russian cyber spies. All the hallmarks were there:...
China Initiates Tough Cyber Law, Despite Resistance from Foreign Businesses
Jun 1 2017 // China ushered in a tough new cyber security law on Thursday, following years of fierce debate around the controversial legislation that many foreign business groups fear will hit their ability to operate in the...
China’s Controversial Cyber Law ‘Not Targeting’ Foreign Firms
May 31 2017 // China’s top cyber authority said on Wednesday it is not targeting foreign firms with a controversial national cyber law set to come into effect on Thursday. More than 50 overseas companies and business groups have...
Why 27% of U.S. Firms Have No Plans to Buy Cyber Insurance
May 31 2017 // A full 50 percent of U.S. firms do not have cyber risk insurance and 27 percent of U.S. executives say their firms have no plans to take out cyber insurance, even though 61 percent of them expect cyber breaches to increase...
Chubb Names Bryant as Regional Cyber Risk Manager, Europe
May 30 2017 // Chubb announced the appointment of Kyle Bryant to the newly created role of regional cyber risk manager, Europe. In his new role, Bryant will bring together Chubb’s dedicated local cyber risk expertise across its...
Cyber Insurance Market Growing More Slowly Than Expected: Allianz
May 26 2017 // The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of...
West Virginia Gov Orders State to Step-Up Cybersecurity Efforts
May 26 2017 // Gov. Jim Justice has directed the West Virginia Board of Risk and Insurance Management to take steps to protect personally identifiable information collected and kept by state agencies, including health information...
FM Global Includes Top 3 Business Risks in Global Resilience Index
May 25 2017 // FM Global has expanded its Global Resilience Index to include insights around three of the top risks facing businesses: cyber attack, natural hazards and supply chain failure. The interactive, online index ranks 130...
TMK Launches Visual Effects, Post Production Media Cover
May 25 2017 // Tokio Marine Kiln (TMK), the London-based specialist insurance business, announces the launch of visual effects (VFX) and post production media insurance. TMK said its post-production media insurance offers flexible cover...
Target to Pay $18.5 Million to Settle States’ Claims from 2013 Data Breach
May 24 2017 // Target Corp. on Tuesday agreed to pay $18.5 million to settle claims by 47 states and the District of Columbia and resolve a multi-state investigation into the retailer’s massive data breach in late 2013. The...
Cyber Security Expert Leonardo to Offer Anti-Ransomware Weapon
May 24 2017 // When a wave of ransom-requesting cyber attacks hit computers across the globe earlier this month, Leonardo SpA cyber-security experts had already warned clients that a larger-than-usual strike was about to hit. Now, the...
Cyber Security Firms in Spotlight Following WannaCry Attack
May 23 2017 // For Kris Hagerman, chief executive of UK-based cyber security firm Sophos Group Plc, the past week could have been bad. The WannaCry “ransomware” attack hobbled some of its hospital customers in Britain’s...
Cyber Insurance Sales Continue to Grow, Prices Stabilize, Brokers Report
May 23 2017 // Businesses are buying more cyber insurance and prices for the coverage are stabilizing, according to the latest survey by The Council of Insurance Agents and Brokers. According to the survey of about 100 commercial lines...
WannaCry Attack Could Be Opportunity for Cautious Insurance Industry: A.M. Best
May 23 2017 // According to a rating agency A.M. Best, the the recent WannaCry ransomware attack could be a benefit to the insurance industry if it leads to better-crafted policies with clear language that provide the desired protection...
Cyberattack Cost Michigan Utility $2M, 14 Employees
May 22 2017 // A utility company in Lansing, Mich., is still transitioning back to stability after a cyberattack temporarily disabled the company’s internal network and required it to pay a $25,000 ransom. Dick Peffley, general...
China Eyeing Cyber Rule Delay After Outcry from Foreign Firms: Sources
May 22 2017 // China may delay full implementation of controversial new cyber security rules, giving companies more time to prepare, two people who attended a meeting on Friday between the country’s internet regulator, businesses...
Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses
May 19 2017 // Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,”...
