Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
UK’s Allianz Insurance Offers Free Cyber Risk Assessment Tool for SMEs
Jun 9 2016 // Allianz Insurance plc, the U.K. subsidiary of Allianz SE, has partnered with global cyber security consultancy, IT Governance Ltd., to offer commercial customers a free online cyber risk assessment. The Allianz Cyber Risk...
Security Vendors, Partnerships Offer Key to Simplifying, Selling Cyber Insurance Online: CoverHound CEO
Jun 9 2016 // CoverHound CEO Keith Moore has a vision of simplifying cyber insurance sales that involves underwriting the security vendors used by insureds—a model that could ultimately allow small business customers to bind their...
Assurant, MyDigitalShield to Offer Small Business Data Breach Support
Jun 9 2016 // Assurant, Inc. has teamed up with cybersecurity specialist MyDigitalShield to help protect small businesses against losses from data breaches. Assurant will provide support for MyDigitalShield’s data breach...
Aspen Grabs Ladeau, 3 Underwriters from Allied World for U.S. Cyber Team
Jun 7 2016 // Aspen U.S. Insurance is expanding its cyber team and has named Josh Ladeau, formerly with Allied World Assurance Co., as senior vice president for Cyber Risk. Ladeau will focus on the growing the cyber portfolio within...
Allianz Corporate Specialty Adds 3 to Cyber Insurance Team for North America
Jun 7 2016 // Allianz Global Corporate & Specialty (AGCS) has expanded its North American cyber insurance team with three industry professionals: Laura Burke, Daniel J. DeLoof and Lester Shearn. Emy R. Donavan was also promoted to...
Chubb Offers Cyber Bullying Cover for Canadian Homeowner Clients
Jun 7 2016 // Chubb has added cyber bullying coverage to its Canadian Masterpiece Family Protection policy to help cover clients and their families from the expenses associated with a cyber bullying incident. Chubb’s cyber...
Grange Insurance Launches Cyber Coverage for Businesses
Jun 6 2016 // Grange Insurance launched new cyber coverage for businesses that offers protection against potential data breaches. The new coverage offers limits ranging from $25,000 to $1 million, first- and third-party coverage and...
10 Things to Know About Public Entities & Cyber Risk
Jun 6 2016 // Last year data breaches in the government/military sector accounted for 11.7 percent of U.S. breach incidents. —Identity Theft Resource Center The practice of employing encryption strategies in the public sector rose...
Swiss Re Corporate Solutions Launches Cyber Risk Insurance Product in UK
Jun 3 2016 // Swiss Re Corporate Solutions expands its cyber offering with the launch of CyberSolutions UK, a market-specific, primary insurance product. This cyber risk protection solution “provides tailored coverage to mid-sized...
U.S. Insurer, Tech, Business Groups Balk at China’s Rules on Insurance Cybersecurity
Jun 2 2016 // Business groups from the U.S. and around the world protested planned cybersecurity rules for the insurance industry in China in a letter to the head of the nation’s insurance regulator. The draft regulations may...
EU Members Should Run Stress Tests for Banks’ Cyber Risks: EU Banking Chief
Jun 1 2016 // Domestic authorities in European Union member states should stress-test their financial institutions for cyber risks, a top EU supervisor said, saying banks might be required to hold extra capital as a buffer against what...
China Likely to Adopt Cyber Rules for Insurers Despite Foreign Business Concerns
May 31 2016 // Controversial cyber security regulations for China’s insurance industry, now before the World Trade Organization (WTO), could soon take effect despite efforts by foreign business groups to persuade Beijing to change...
Hackers Target SE Asian Banks, Revealing Campaign Against SWIFT Network
May 27 2016 // Investigators are examining possible computer breaches at as many as 12 banks linked to SWIFT’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh...
Credit Suisse Sells Operational Risk Bonds, Insuring Rogue Trading, Cyber Crime
May 27 2016 // Credit Suisse Group AG sold 220 million Swiss francs ($222 million) of bonds designed to offload potential losses on events like rogue trading, with some investors sidestepping the issue because of the incalculable...
Cyber Bank Thieves Stole $12M from Ecuador Bank in 2015, Using SWIFT System
May 24 2016 // Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells...
What to Know About Travelers’ CGL Cyber Ruling
May 23 2016 // Experts are cautioning insurance buyers and sellers not to overreact to the recent federal court decision finding data breach defense coverage under a commercial general liability (CGL) policy. Buyers would be mistaken to...
Hanover Stone Partners, UnitedLex to Offer Cyber Risk Management Services
May 20 2016 // Hanover Stone Partners, a risk management services firm, and UnitedLex, a business advisory company, have collaborated on cyber-security, legal services and other risk management options for businesses and other commercial...
UK Banks Ordered to Update Cyber Security After $81M Bangladesh Bank Heist
May 19 2016 // The Bank of England ordered UK banks to detail steps taken to secure computers connected to the SWIFT bank messaging network about two months after a still-unidentified group used the system to steal $81 million from...
Urgent Action Needed to Tackle Systemic Threat of Cyber Risk: Marsh & TheCityUK
May 19 2016 // Firms across the financial and related professional services industry need to take urgent action on their cyber risks, which present a “real and present danger” to the financial system, according to a new...
NAS Insurance Enhances Cyber Liability Coverage, Lowers Rates
May 19 2016 // NAS Insurance Services has enhanced its NetGuard Plus cyber liability product. The new coverage features offer greater protection for emerging privacy and security threats for businesses of all sizes across a range of...
