Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
50% of Risk Managers Bought or Increased Cyber Insurance in Last Year: HSB
May 18 2016 // Fifty percent of U.S. businesses have either purchased cyber insurance for the first time or increased their level of coverage in the last year, according to a survey of risk managers by The Hartford Steam Boiler...
Carpenter Forms Partnership with Symantec to Create Cyber Aggregation Model
May 18 2016 // Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., has formed a strategic alliance with cyber security specialist Symantec Corp. to create a cyber...
LIU Designs New Policy for Architects & Engineers With Data Breach Coverage
May 18 2016 // Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has launched LIU Design and Data Insure, a new architects & engineers policy. The enhanced policy offers insurance and risk management...
Outdated SAP Software May Be Vulnerable to Hackers if Not Properly Patched
May 16 2016 // Europe’s biggest software company, SAP, is the subject of a U.S. security alert over a vulnerability the firm disabled six years ago that can still give outside attackers remote control over older SAP systems if the...
Hallstrom Appointed Assistant VP, Cyber Insurance at CNA
May 12 2016 // Chicago-based insurer, CNA, has appointed David Hallstrom to assistant vice president and industry leader, Cyber Insurance. In this role, Hallstrom is responsible for CNA cyber product management. He reports to Katie...
Investigation of $81M Bangladesh Bank Heist Uncovers 3 Hacker Groups: Sources
May 11 2016 // Investigators examining the theft of $81 million from Bangladesh’s central bank have uncovered evidence of three hacking groups — including two nation states — inside the bank’s network but say it...
Aspen Insurance Names Nazir as Head of International Cyber Risk, Lang as U/W
May 10 2016 // Aspen Insurance, the insurance segment of Aspen Insurance Holdings Ltd., has appointed Raheila Nazir as head of International Cyber Risk. Joining Aspen in the summer, Nazir has more than 16 years’ experience as an...
CNA Appoints Hallstrom to Lead Cyber Insurance Product Management
May 10 2016 // Chicago-based insurer CNA has named David Hallstrom to assistant vice president and industry leader, Cyber Insurance. In this role, Hallstrom is responsible for CNA cyber product management. Hallstrom has more than two...
Taking Stock of D&O Insurance Market: Capacity, Coverage and Culpability
May 10 2016 // The directors and officers (D&O) liability marketplace continues to find softening rates and intense competition especially in excess layers, according to industry executives. The industry is also seeing a continuing...
Chubb Insurance Policy Eases Financial Costs for Victims of Cyber Bullying
May 2 2016 // Anyone who has had embarrassing photos posted on social media or been deluged with angry messages can attest to the high emotional cost of cyber bullying. But there is also a cost in real dollars for some to clean up their...
Captives View Business Interruption as Top Cyber Threat: Aon Global Risk
May 2 2016 // The costs of business interruption due to a breach is the top cyber risk concern for businesses across all industries, according to a new survey of captives. Aon Global Risk Consulting, in its 2016 Captive Cyber Survey...
Hackers in Bangladesh Bank Cyber Heist Pocketed About $70M; NY Fed Criticized
Apr 29 2016 // Hackers are likely to get away with about $70 million of Bangladesh’s foreign reserves after a brazen cyber-attack against the South Asian nation, according to Finance Minister Abul Maal Abdul Muhith. The Philippines...
Bangladesh Bank Cyber-Heist Hackers Exploited Vulnerabilities in SWIFT Software
Apr 25 2016 // The attackers who stole $81 million from the Bangladesh central bank probably hacked into software from the SWIFT financial platform that is at the heart of the global financial system, said security researchers at British...
Fallout from Travelers CGL Cyber Ruling: Insurance Buyers and Sellers Beware
Apr 25 2016 // Experts are cautioning both 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. Experts are cautioning...
Plaintiffs Suing Dating Site Ashley Madison Over Data Breach Must Identify Themselves: U.S. Judge
Apr 22 2016 // Plaintiffs leading a lawsuit against online dating website Ashley Madison over a security breach that exposed the personal data of customers must publicly identify themselves to proceed with the case, a U.S. judge has...
Cyber Thieves Working Overtime Before Credit Card Chips Curtail Their Retail Business
Apr 21 2016 // Cyber-thieves see new credit card chip technology being adopted by U.S. retailers closing a lucrative window of opportunity to steal your data. So they want to move fast. “We’ve actually seen a number of...
Starr Companies Enhance Cyber Terror Response Offering
Apr 21 2016 // Starr Companies has formed an agreement to offer services from NYA International (NYA) and Abernathy MacGregor as part of the organization’s newly launched Cyber and Terror Response offering. The coverage provides...
Bangladeshi Investigators Identify 20 Foreign Suspects in Cyber Bank Heist
Apr 18 2016 // Bangladeshi investigators have identified 20 foreigners – 12 Philippine nationals and eight Sri Lankans – suspected to have been involved in the cyber heist of tens of millions of dollars from its central bank,...
RIMS 2016: Keep Eye on Captives as Cyber Risk Solution
Apr 18 2016 // Powered by InsuranceJournal.tv Are cyber captives on the horizon? More and more organizations are considering using captives to address their cyber risks but just as the risk is evolving so is the role of captives in this...
Berkley FinSecure Adds Cyber Breach Services to Management Liability Policies
Apr 15 2016 // Berkley FinSecure, a W. R. Berkley Company, has enhanced its management liability coverage for policyholders with the electronic banking option to include access to CYBER Carry*Thru, powered by NetDiligence. CYBER...
