Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
ACE Launches $100M Cyber Security Facility for Large Corporations
Sep 25 2015 // ACE Group has launched ACE’s Global Cyber Facility to offer cyber security insurance protection for large corporations. ACE’s Global Cyber Facility provides up to $100 million of primary capacity and...
Schermerhorn Named Vice President of Lockton in California
Sep 24 2015 // Lockton Cos. has named Jeff Schermerhorn vice president in its cyber technology practice. Schermerhorn will be based in Lockton’s Los Angeles office. He will offer clients tailored programs to shelter them from the...
China’s President Xi Pledges ‘New Model’ of ‘Mutual Respect’ with U.S. Amid Tensions
Sep 23 2015 // Chinese President Xi Jinping opened his U.S. visit by seeking to ease concerns on almost every dispute between the two powers, even expressing readiness to cut a deal on one of the thorniest issues, cybersecurity. In a...
Beazley, Aspen and Brit Launch ‘International Cyber Consortium’ at Lloyd’s
Sep 21 2015 // Beazley has joined forces with Lloyd’s syndicates managed by Aspen and Brit Global Specialty to launch the International Cyber Consortium. The consortium will focus on providing robust data breach cover to businesses...
Aon Benfield Lists 7 Emerging Business Risk Opportunities for Re/Insurers
Sep 21 2015 // Aon Benfield has identified seven emerging risks that present re/insurers with business opportunities over the next five to 10 years, which the announcement listed as “US mortgage credit, the sharing economy,...
New York Health Insurer’s Data Breach Puts 10M Records at Risk
Sep 21 2015 // Upstate New York health insurer Excellus BlueCross BlueShield said on Sept. 10 that its computer systems and those at affiliates had been breached, exposing data from more than 10 million members, in the latest case to...
How Big Is Cyber Risk?
Sep 21 2015 // Cyber risk is costing the global economy $445 billion annually, $108 billion of which comes from the U.S., according to a new report. The report from insurer Allianz Global Corporate & Specialty also predicts cyber...
Allianz Teams with Volkswagen, Bayer and BASF in Anti-Hacking Venture
Sep 18 2015 // The German car giant that gave the world the Beetle may soon help you fend off cyber criminals. Volkswagen AG teamed with insurer Allianz SE, medical company Bayer AG and chemicals producer BASF SE to sell...
U.S. Weighing Sanctions Against China for Hacking
Sep 18 2015 // A little more than a week before China’s leader arrives at the White House, President Barack Obama escalated the fight over cyberspace, saying the U.S. is readying measures to forcefully demonstrate that economic...
Lawmakers Want Anti-Hacking Details from Carmakers
Sep 18 2015 // Two U.S. senators have asked the world’s biggest automakers for information on steps they have taken to protect cars from being hacked, as attention on vehicle security has surged following the first car recall over...
Cyber Attacks Bring New Clients – Including Insurers – to Defense Firms
Sep 18 2015 // A broadening wave of cyber attacks is drumming up new clients for defense companies as anxiety about the loss of sensitive data spreads from military chiefs to company bosses. Banks, utilities and media groups are the new...
Guy Carpenter Report Examines Major Emerging Risks Facing Re/Insurers
Sep 16 2015 // A report published by Guy Carpenter & Co., released Sept. 2015, identified four key areas of emerging risk for re/insurers: cyber risk, technology risk, casualty catastrophe and reserving, and life, health and...
Judge Allows Class Action by Banks Against Target Over Data Breach
Sep 16 2015 // Hundreds of banks and credit unions can band together to pursue damages from Target Corp. over a 2013 hacking attack that compromised as many as 40 million payment cards. The ruling Tuesday by U.S. District Judge Paul...
Just How Costly, Fast-Growing Is Cyber Risk?
Sep 15 2015 // Cyber risk is costing the global economy $445 billion annually, $108 billion of which comes from the U.S., according to a new report. The report from insurer Allianz Global Corporate & Specialty also predicts cyber...
ABA Insurance, BakerHostetler to Provide Cyber Risk Management Program for Banks
Sep 14 2015 // ABA Insurance Services (ABAIS) launched a new cyber insurance product for banks that are insured through ABAIS to help them prevent, prepare for, and respond to data security incidents. BakerHostetler’s privacy and...
New York Health Insurer’s Data Breach Puts 10M Records at Risk
Sep 11 2015 // Upstate New York health insurer Excellus BlueCross BlueShield on Wednesday said its computer systems and those at affiliates had been breached, exposing data from more than 10 million members, in the latest case to show...
AIG, Axis Insure Adultery Website AshleyMadison: Report
Sep 9 2015 // American International Group Inc. and Axis Capital Holdings Ltd. are among insurers for the company that owns AshleyMadison.com, the adultery website hacked in a breach that exposed more than 37 million users, people...
Makers of Self-Driving Cars Could Shoulder Burden of Insurance Liability
Sep 9 2015 // Hacker attacks or faulty software could shift the burden of legal and regulatory liability toward makers of self-driving cars and away from customers, experts say, forcing regulators and insurers to develop new...
S&P: U.S. Insurers Cautious to Respond to Soaring Cyber Demand
Sep 7 2015 // Standard & Poor’s predicts a major jump in demand for cyber insurance in the coming years, with interest initially outstripping supply. U.S. insurers will respond gradually, however, entering the market with...
10 Drivers of Surplus Lines Growth
Sep 7 2015 // Times are good for surplus lines professionals. The surplus lines industry reached new heights in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion – the highest point in history, reports A.M....
