Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Lloyd’s MGA, CFC Underwriting, Launches Cyber Incident Response App
Mar 6 2017 // CFC Underwriting, the London-based specialist lines underwriting agency, announced the launch of a new cyber incident response application. The app allows policyholders to notify a claim with a click of a button and...
Consumer Reports to Add Cyber Security, Privacy to Product Rankings
Mar 6 2017 // Consumer Reports, an influential U.S. non-profit group that conducts extensive reviews of cars, kitchen appliances and other goods, is gearing up to start considering cyber security and privacy safeguards when scoring...
New York’s Cybersecurity Rules: What Insurance Professionals Should Know
Mar 6 2017 // The New York Department of Financial Services (DFS) has issued cybersecurity requirements for financial services companies (cyber rules) that went into effect March 1. The cyber rules, codified at 23 NYCRR §500, require...
Declarations
Mar 6 2017 // Cybersecurity Safeguards “These strong, first-in-the-nation protections will help ensure this industry has the necessary safeguards in place in order to protect themselves and the New Yorkers they serve from the...
Confusing, Costly Cyber Policies Create Obstacles to Market Growth: Deloitte
Mar 3 2017 // Despite the rising profile of cyber risks, buyers have failed to widely embrace cyber coverage. At the same time, insurers generally have remained cautious about writing the coverage on a large scale basis. A recent report...
Australia to Offer ‘World’s First’ University Course to Fight Cyber Crime
Mar 3 2017 // Australia said on Friday it will offer the world’s first university course to train intelligence analysts to fight cyber crime, prompted by innovative methods of money transfer among organized crime and militant...
Level of Cyber Risk Management for Many Firms Is ‘Unsustainable’: Swiss Re
Mar 2 2017 // Despite increased awareness of rapidly evolving cyber threats, relatively few corporations have integrated cyber security into their mainstream risk management programs – a situation that is “unsustainable,”...
Argo’s Carr to Head U.S. Cyber Insurance Unit for Brit Global Specialty
Mar 1 2017 // Brit Global Specialty USA is launching a Cyber and Technology team and has hired Michael Carr appointed as senior vice president to lead the offering. Carr was formerly Technology practice leader for Argo Group. He has 30...
Effective Cybersecurity Strategy Rests on People, Not Just Technology
Mar 1 2017 // While many organizations continue to focus on the technology aspect of cyber defense, which is crucial, they often do so at the expense of people risks, which represent the largest source of data breach claims. New claims...
New York Cyber Regs Take Effect, Mid-Sized Firms Could See Biggest Impact
Mar 1 2017 // As the insurance industry has closely followed developments regarding The New York State Department of Financial Services’ (DFS) cybersecurity regulation, concerns remain in terms of how the final regulation, set to...
Zurich, Deloitte Partner on Cyber Risk Services for Clients
Mar 1 2017 // Zurich North America and Deloitte have collaborated to provide services aimed at educating and protecting customers from cyber related risks. Initial offerings include risk transfer options provided by Zurich and risk...
Testing of EU Banks’ Cyber Defenses Needs Common EU Approach: Official
Feb 28 2017 // European Union countries should test bank defenses against cyber attacks using a common set of requirements, a senior EU official said on Tuesday, as the bloc plans measures to boost the retail market for financial...
A Cyber Mandate Isn’t the Way to Address Cyber-Insurance Takeup
Feb 24 2017 // To improve cyber preparedness and help companies recover from cyberattacks, it’s essential that the takeup rate for cyber insurance continues to rise. The insurance capacity plainly exists to write virtually all of...
Helping Small Insurers Sell Cyber Coverage to Small Businesses
Feb 24 2017 // With the global cyber insurance market expected to reach $14 billion by 2022, according to Allied Market Research, it’s no wonder more insurers are looking to offer cyber coverage. But small insurers have been...
UK Suspect Arrested in Deutsche Telekom Cyber Attack
Feb 24 2017 // British authorities have arrested a suspect in connection with a cyber attack that infected nearly 1 million routers used to access Deutsche Telekom’s internet service, German federal police said on...
8K Louisianans Possibly Impacted by Reinsurance Broker’s Data Breach
Feb 22 2017 // The Louisiana Department of Insurance reported that a reinsurance broker contracted by the Louisiana Health Cooperative (LAHC) has experienced a data breach. As a result, former LAHC policyholder Personally Identifiable...
Cyber Attacks Remain at Top of List of Business Continuity Worries: Survey
Feb 21 2017 // The threat of cyber attacks and political instability resulting from rising populism are among the biggest worries for businesses around the world, according to a study of companies in 79 countries. The number one issue...
New York State Finalizes First-in-Nation Cyber Security Regulation
Feb 17 2017 // New York state announced a final cyber security regulation on Thursday with mandatory standards for banks and insurers to combat the ever-increasing risk of cyber attacks. The regulation, which takes effect March 1,...
Beazley Taps Markel’s Tewfik as Underwriter for UK Tech & Data Breach Team
Feb 17 2017 // Beazley, a specialist in cyber and data breach response insurance, has appointed Michael Tewfik as a technology, media and business services underwriter focused on addressing the data breach and cyber security risks of...
How the Federal Government Could Lead by Example in Cyber Insurance
Feb 16 2017 // The takeup rate of cyber insurance is rising, but the market’s growth to date has been uneven. Anne Hobson, a technology policy fellow at the R Street Institute, may have a solution to that problem. She proposes that...
