Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Cyber Losses Testing Insurance Policy Boundaries
Apr 13 2017 // Now that cyber attacks and data breaches have become common, insurers and risk managers are struggling to assign the resulting costs and losses among different types of insurance. On the one hand, there are traditional...
First Steps Under New York’s Cyber Rules: Risk Assessment, Policies, Procedures
Apr 12 2017 // The Cybersecurity Requirements for Financial Services Companies (cyber rules) promulgated by the New York Department of Financial Services went into effect on March 1. Now, insurance companies, agencies, brokerages and...
Cyber Insurance: Many Choices Now That There Is No Choice
Apr 12 2017 // Every organization, of every size and operational orientation, needs cyber insurance to manage its exposures in this age of networked information. That was one thing speakers agreed on at the recent 2017 Cyber Liability...
Cyber Breaches Permanently Hit Share Prices, Especially Financials: Study
Apr 12 2017 // Cyber security breaches erode companies’ share prices permanently, with financials the worst hit, a study issued by IT consultant CGI and Oxford Economics has found. Severe cyber security breaches, such as those...
Travelers Adds Symantec Cybersecurity Services to Cyber Policies
Apr 10 2017 // The Travelers Companies, Inc. is now offering cybersecurity services from Symantec Corp. to eligible Travelers cyber policyholders. Symantec will provide a cyber resilience readiness assessment, cybersecurity awareness...
Hackers Strike Dallas Emergency Siren System
Apr 10 2017 // Hackers struck the sirens Dallas uses to alert residents to take shelter from inclement weather, triggering intermittent false alarms for about an hour and a half until officials deactivated the system early Saturday...
Nevada Governor Wants $3.5M for Cybersecurity Boost
Apr 10 2017 // Gov. Brian Sandoval is asking the Nevada Legislature to spend $3.5 million over the next two years to build up the state’s cybersecurity infrastructure and management. His proposed Office of Cyber Defense...
Willis Towers Watson Launches Cyber Aviation Cover with AIG Collaboration
Apr 10 2017 // Willis Towers Watson has introduced CyFly, an insurance solution specifically tailored to cover cyber exposure affecting the airline industry. The recent Willis Towers Watson Industry Risk Index identified failure of...
New York Sees Its Cyber Rules for Insurers as Model for Other States
Apr 10 2017 // A group of U.S. state insurance regulators should use New York’s sweeping cyber security rules as a model for how insurers must protect their networks from hackers and when they must disclose cyber events, New...
Insurance Rates for Architects, Engineers Stabilize or Decline in 2016: Survey
Apr 7 2017 // Although a slim majority of insurance companies providing architects and engineers professional liability insurance saw their rates stabilize in 2016, nearly one in three experienced modest decreases in rates. That’s...
UK MGA Plum Launches High Net Worth Home Cyber Cover
Apr 7 2017 // Plum Underwriting, the London-based specialist home insurance managing general agent, announced the launch of cyber and data risks cover embedded within high net worth (HNW) and mid net worth (MNW) home insurance products...
RMS Expands Range of ‘Cyber-Physical’ Models for Property Insurers
Apr 6 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the expansion of its range of cyber models to include a new class of “cyber-physical” models. These include a range of cyber attack...
D&O Liability Insurance Could Feel Effects of New York’s Cyber Regulation
Apr 6 2017 // While the full implications of the New York State Department of Financial Services’ (DFS) cybersecurity regulation, which went into effect March 1, are still being realized by the insurance industry, many are...
International, Large-Scale Cyber Attack Uncovered by Cyber Security Watchdogs
Apr 5 2017 // A large-scale cyber attack from a group targeting organizations in Japan, the United States, Sweden and many other European countries through IT services providers has been uncovered, the Swedish computer security watchdog...
NAS Insurance Expands Cyber Coverage to Personal Lines Market
Apr 5 2017 // NAS Insurance has launched a new cyber insurance product that addresses cyber risks to individuals and families through add-on coverage to homeowners’ insurance policies. NAS’ Personal CyberPlus covers cyber...
New Digital Evidence Emerges of N. Korea Connection to Bangladesh Bank Heist
Apr 4 2017 // Cyber security firm Kaspersky Lab on Monday said it had obtained digital evidence that bolsters suspicions by some researchers that North Korea was involved in last year’s $81 million cyber heist of the Bangladesh...
AIG Latest to Bring Cyber Insurance to Personal Lines High-Net Worth Clients
Apr 3 2017 // American International Group Inc., the biggest seller of cyber insurance to businesses, is bringing cyber insurance and risk mitigation services adapted from its CyberEdge commercial insurance product to its high net worth...
Hylant’s Timmel Joins Safety National to Lead Cyber Insurance Development
Apr 3 2017 // Spencer Timmel, has joined Safety National as national director of Cyber and Technology. In his new capacity with Safety National. Timmel will be responsible for leading Safety National’s effort to become a provider...
CFC Underwriting Upgrades Global Cyber Product
Apr 3 2017 // Specialist lines underwriting agency, CFC Underwriting, has launched a revamped and upgraded cyber insurance product for global markets. The new look product provides includes the provision of first party cover on an...
Brokers Beware: Data Breach Lawsuit Without the Breach
Apr 3 2017 // In December 2016, it came to light that the Chicago-based law firm of Johnson & Bell had been sued in a purported class action lawsuit brought in the U.S. District Court for the Northern District of Illinois. The...
