Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
NAS’ Palotay: Point-of-Sale, not Stored Data, Riskiest for Retailers
Oct 1 2015 // In justifying a reluctance to purchase cyber insurance coverage for data breaches, many retailers insist they don’t store credit card information after a sale. But experts say the headline-generating data breaches at...
ACE Expands Cyber Risk Coverage Options for Non-Profits
Sep 30 2015 // ACE Group has launched a new coverage component for the ACE Express package policy specifically designed to protect private and not-for-profit organizations. The updated package policy enables insureds to purchase privacy...
NAS Introduces CyberNET Support for Cyber Liability Policyholders
Sep 29 2015 // NAS Insurance has launched “NAS CyberNET Support,” a customer support product which includes 24/7 phone support and a range of cyber risk management resources. NAS CyberNET Support is a full suite of...
Airbus and Atos to Create Cyber Security Products for Insurers, Other Industries
Sep 29 2015 // Airbus Group SE’s Defence and Space will team with digital services provider Atos SE to develop products designed to counteract cyber attacks on companies and their supply chains. The partnership will address...
Effect of U.S., China Cyber Pledge Unclear
Sep 28 2015 // The U.S. and China announced agreement on broad anti-hacking principles aimed at stopping the theft of corporate trade secrets though President Barack Obama pointedly said he has not ruled out invoking sanctions for...
Cyberattack Cost Illinois City $760K so Far
Sep 27 2015 // Naperville, Ill., city officials have spent about $760,000 on rebuilding its online network three years after a cyberattack wreaked havoc. City officials tell the Chicago Tribune insurance covered about 25 percent of the...
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...
