Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Log4j Software Flaw ‘Endemic,’ New Cyber Safety Panel Says
Jul 18 2022 // A computer vulnerability discovered last year in a ubiquitous piece of software is an “endemic” problem that will pose security risks for potentially a decade or more, according to a new cybersecurity panel...
‘Cautious Optimism’ for Cyber Buyers as More Focus on Risk Controls: Marsh
Jul 18 2022 // While the market for cyber insurance is expected to remain challenging “for the foreseeable future,” there is optimism for rate stabilization as organizations focus on cyber hygiene, according to broker...
Cyber Experts Say California Lacked Safeguards for Gun Owner Data
Jul 18 2022 // Cybersecurity experts say the California Department of Justice apparently failed to follow basic security procedures on its website, exposing the personal information of potentially hundreds of thousands of gun owners. The...
Scrutiny of Alibaba in Record Cyber Breach May Ensnare All China Tech
Jul 15 2022 // Questions surrounding Alibaba Group Holding Ltd.’s role in China’s largest known cybersecurity breach may fuel Beijing’s resolve to clamp down on domestic tech giants and accelerate a move away from their...
Despite Growing Pressures, Most Cyber Insurers Won’t Exit: Survey
Jul 15 2022 // The cyber insurance sector has been tested recently with growing ransomware attacks, rising premiums, and more sophisticated threat actors, but that isn’t necessarily scaring insurers away, according to a 2022 Cyber...
Industry Trade Associations Oppose Potential New Cyber Claims Data-Sharing Rules
Jul 13 2022 // Insurance industry trade associations said they do not want “misguided provisions” related to cyber claims data sharing in the next National Defense Authorization Act (NDAA) for fiscal year 2023. The American...
Markets/Coverages: Lloyd’s Insurer Probitas Starts Underwriting Cyber
Jul 7 2022 // Probitas 1492, the Lloyd’s insurer, has started underwriting cyber insurance with Richard Taylor, head of Cyber & Technology, focusing the book of business on complex small-and-medium-sized enterprises (SME), up...
Cybersecurity Firm Group-IB to Split Russian, International Businesses
Jul 7 2022 // Cybersecurity outfit Group-IB will split its Russian and international business into two separate companies in a bid to maintain a presence in both the Russian and overseas markets, the company said on Wednesday. (Reuters...
‘Cautious Optimism’ for Cyber Buyers as More Focus on Risk Controls: Marsh
Jul 6 2022 // While the market for cyber insurance is expected to remain challenging “for the foreseeable future,” there is optimism for rate stabilization as organization focus on cyber hygiene, according to broker...
Luxury British Jeweler Pays $7.5 Million in Crypto Ransom to Russian Hackers
Jul 6 2022 // Luxury British jeweler Graff Diamonds Corp. paid $7.5 million ransom in Bitcoin to a Russian hacking gang after it leaked data on the jeweler’s high-profile clients, according to a London lawsuit. Graff, that counts...
The Insuring Cyber Podcast: Is Ransomware at a Turning Point?
Jul 6 2022 // Although reports indicate ransomware activity has been quieter than usual to start the year, experts say that likely won’t last for long. “What we see is there’s an evolution of [ransomware] changing and...
People Moves: MS Amlin Names Liberty Mutual’s Baxter as Head of Reinsurance; DUAL Hires HDI’s Biemann for Cyber; Gallagher Re Taps Swiss Re’s Kreutzer for Nordic Region
Jul 6 2022 // This edition of International People Moves details appointments at MS Amlin, DUAL Europe, and Gallagher Re. A summary of these new hires follows here. MS Amlin Names Liberty Mutual’s Baxter as Head of Reinsurance,...
25 Years: The Journey of Cyber Insurance
Jul 6 2022 // While young underwriters may think that cyber insurance is a recent coverage innovation, the line is actually more than two decades old. Here, Kurtis Suhs, a veteran of the cyber insurance industry who served as an...
Markets/Coverages: Physicians Mutual Unleashes Pet Insurance; Allianz Expands Cyber Capacity for Coalition
Jul 5 2022 // Physicians Mutual Launches Pet Insurance Physicians Mutual has launched pet insurance for dogs and cats. Physicians Mutual Pet is the company’s first entry into the property/casualty market. Physicians Mutual Pet is...
Cyber Experts Say California Lacked Safeguards for Gun Owner Data
Jul 5 2022 // Cybersecurity experts say the California Department of Justice apparently failed to follow basic security procedures on its website, exposing the personal information of potentially hundreds of thousands of gun owners. The...
SMBs Are Struggling to Get Cyber Insurance; Here’s How to Stay Protected
Jul 4 2022 // For the first time ever, cyber insurance is facing a hard market. Since the product line’s inception about 20 years ago, carriers, brokers and policyholders have reaped the benefits of soft market conditions....
Cyber Insurtechs and Insurers ‘In This Together,’ Not in Competition
Jul 4 2022 // Insurtechs and insurance companies are “breaking down the wall” that stood between them as competitors in favor of working together to tackle dynamic cyber risk. Lori Bailey “We’re all trying to...
Captives, MGAs, MGUs Contribute to Growing Cyber Insurance Market
Jul 4 2022 // The hard market for cyber insurance, which is expected to continue for “some time,” and a lack of capacity has made captive insurers an “attractive risk management option for corporations,” said AM...
Grocery Chain Wegmans Settles with New York Over Data Breach
Jul 1 2022 // The supermarket chain Wegmans agreed to pay $400,000 and upgrade its security practices over a data breach that exposed personal information of more than 3 million consumers nationwide, New York Attorney General Letitia...
‘It’s Not Been Fun’: Cyber Insurance Brokers Seek Consistency as Hard Market Settles
Jun 29 2022 // Alexandra Bretschneider said it feels like she has been a part-time grim reaper the last two years. The cyber practice leader at broker Johnson, Kendall & Johnson said, “I am just constantly delivering bad...
