Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Bangladesh Hack Opens Door to Attacks on Financial Institutions: Cyber Expert
Apr 15 2016 // The founder of cyber-security firm Kaspersky Lab expects more attacks on financial targets after hackers recently stole funds from Bangladesh’s central bank and moved the Russian ruble’s exchange...
RIMS 2016: Captives See Business Interruption as Top Cyber Threat
Apr 15 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...
Automakers, Tech Industries Must Plug Cybersecurity Gaps, Says U.S. Official
Apr 14 2016 // Internet-connected and driverless cars could be targets for hackers — potentially including terrorists and hostile nations — so the automotive industry must ensure vehicles have built-in cybersecurity...
RIMS 2016: What’s the Biggest Risk for Cyber Insurers?
Apr 14 2016 // Powered by InsuranceJournal.tv Nobody really knows what the biggest cyber risk is. But Scott Stransky, senior scientist at risk modeling firm AIR Worldwide, has thought a lot about a cloud breach and the business...
Hiscox Expands Cyber Offering to Small, Mid-Size Businesses
Apr 13 2016 // Hiscox has expanded its cyber and data risk coverage to include Hiscox CyberClear. The product is designed for small and medium-sized enterprises in the U.S. with less than $1 billion in annual revenue. This product will...
RIMS 2016: Travelers CGL Data Breach Ruling Won’t Impact Cyber Market
Apr 13 2016 // Powered by InsuranceJournal.tv What will be the effect of this week’s federal court ruling that Travelers Indemnity, under its commercial general liability (CGL) coverage, must defend an insured sued due to a medical...
BAE Uses Cyber Skills Developed in British Intelligence Services to Help Clients
Apr 12 2016 // In January, BAE Systems Plc got a routine call from a new client: The health-care company’s computer systems were mysteriously crashing. BAE’s sleuths soon discovered a dangerous new strain of a virus called...
Federal Court Rules CGL Insurance Covers Data Breach
Apr 12 2016 // A federal appeals court in Virginia has upheld a lower federal court in ruling that a commercial general liability policy (CGL) may cover a data breach. In a case involving the publication of private medical records on the...
Cyber Criminals Reap Billions of Dollars via Email Scams Across the Globe
Apr 11 2016 // Businesses have lost billions of dollars to fast-growing scams where fraudsters impersonate company executives in emails that order staff to transfer to accounts controlled by criminals, according to the U.S. Federal...
Beazley & Munich Re to Offer Broad Cyber Cover for Large Global Companies
Apr 11 2016 // Beazley, a pioneer in data breach response insurance and the largest insurer of cyber liability risks in the Lloyd’s market, has partnered with the Corporate Insurance Partner unit of Munich Re to offer broad...
Lloyd’s America Chief Says E&S Sector ‘Best Kept Secret’
Apr 7 2016 // If insurance is the best kept secret in the business world, then the E&S sector is the best kept secret in the insurance industry. That’s according to Hank Watkins, president of Lloyd’s America, who talked...
LIU Adds Cyber Extortion Endorsement to Product Recall Policies
Apr 7 2016 // Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has launched a cyber extortion endorsement to its Product Recall and Contamination insurance policy for food and beverage companies. This...
Negative Outlook for Energy Insurers May Force Sector Exit: Willis Towers Watson
Apr 7 2016 // Energy insurers continue to feel the pressure caused by over-supply of capital and falling demand from buyers, which may lead them to exit or scale back their participation in the energy sector, according to a report...
Hospitals Warned on Surge in Ransomware Attacks
Apr 6 2016 // U.S. hospitals should brace for a surge in “ransomware” attacks by cyber criminals who infect and shut down computer networks, then demand payment in return for unlocking them, a non-profit healthcare group...
Chubb Adds Cyber Bullying Insurance for U.S. Homeowners
Apr 5 2016 // Chubb has added cyber bullying coverage to its U.S. Masterpiece Family Protection policy to help cover clients and their families from the expenses associated with a cyber bullying incident. According to Christie Alderman,...
Vehicles ‘Increasingly Vulnerable’ to Hacking, Warns FBI
Apr 4 2016 // The FBI and U.S. National Highway Traffic Safety Administration issued a bulletin last month warning that motor vehicles are “increasingly vulnerable” to hacking. “The FBI and NHTSA are warning the...
Growth in Cyber Coverage Expected as Underwriting Evolves
Apr 4 2016 // With cyber insurance premiums expected to grow from around $2 billion in 2015 to an estimated $20 billion or more by 2025, insurers and reinsurers are continuing to refine underwriting requirements, according to industry...
Uncertainties Outweigh Growth Benefits When P/C Insurers Take On Too Much Cyber Risk, Rating Agency Warns
Apr 4 2016 // If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty...
Islamic Militants Could Target Nuclear Industry, Security Experts Warn
Apr 1 2016 // Meter-thick concrete walls and 1950s-style analog control rooms help protect nuclear plants from bomb attacks and computer hackers, but Islamist militants are turning their attention to the atomic industry’s weak...
Beazley Provides Data Breach Response Insurance in Canada
Mar 31 2016 // Beazley announced the launch of the company’s flagship Beazley Breach Response (BBR) product in Canada, which is data breach response insurance that protects the personal data of up to five million individuals per...
