Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Biz Interruption, Recovery Costs Drive Financial Losses From Cyber Attacks: Report
Oct 14 2021 // During the COVID-19 crisis, global cyber attacks skyrocketed in a digital pandemic driven by ransomware, according to a report published by Allianz Global Corporate & Specialty (AGCS). Further, the report noted,...
What Corporations Can Do to Avoid Ransomware Attacks
Oct 14 2021 // Allianz Global Corporate & Specialty (AGCS) has published a checklist of cyber risk management recommendations to help prevent ransomware attacks. “In around 80% of ransomware incidents, losses could have been...
Are Public, Private Partnerships the Answer to Cybersecurity’s Risk Management Problem?
Oct 13 2021 // Powered by InsuranceJournal.tv The Biden Administration is increasingly prioritizing growing ransomware threats as a risk management problem, according to guests on the latest episode of The Insuring Cyber Podcast. This...
Munich Re’s Venture Arm Raises $500M for Fund Focused on Insurtech, Cybersecurity
Oct 13 2021 // Munich Re Ventures, the venture capital arm of Munich Re Group, has closed its new $500 million investment fund, with plans to focus, in part, on insurtech and cybersecurity. The new financing arm, dubbed Munich Re Fund...
U.S. Property Insurers Could be Facing $12.5B in Hidden Cyber Losses
Oct 12 2021 // The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by...
Government Can and Should Help Reduce Cyber-Security Risks: ITC Highlights
Oct 12 2021 // It’s no secret that cyber insurance rates keep rising into the stratosphere. But the U.S. government can take specific actions to help reduce risk and stabilize the market, a former federal official and industry CEO...
People Moves: TigerRisk Names Harbor Hill Solutions’ Kilduff to Head MGA Business; AXA XL Insurance Promotes Gittler to Lead Cyber & Technology, Americas
Oct 11 2021 // TigerRisk Names Former Harbor Hill Solutions CEO Kilduff to Head MGA Unit TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced the appointment of Jim Kilduff to head up the company’s...
Aon Launches ‘Ransomware Defence’ to Address Cyber Insurability Challenges
Oct 8 2021 // Insurer Aon plc announced the launch of a new offering aimed at increasing the resilience of businesses in the UK and the Europe, Middle East, and Africa (EMEA) region, by addressing cyber insurability...
Kansas County Pays More Than $70K to End Cyberattack
Oct 7 2021 // A northeast Kansas county paid more than $70,000 to end a cyberattack that crippled its computer systems for about two weeks. Pottawatomie County administrator Chad Kinsley said the attackers had demanded more than $1...
Cybersecurity Weak for Many Kansas School Districts, Audit Finds
Oct 7 2021 // Many Kansas school districts aren’t taking basic steps to protect their computer systems and the privacy of sensitive information collected about students, according to a legislative audit release. The report from...
U.S. to Require Cyber Disclosure, Security Plans From ‘High Risk’ Air, Rail Companies
Oct 7 2021 // The Transportation Security Administration will introduce regulations that compel the most important U.S. railroad and airport operators to improve their cybersecurity procedures, Homeland Security Secretary Alejandro...
Singapore Plans to Review Cybersecurity Strategy and Laws
Oct 6 2021 // Singapore plans to review its strategy to further safeguard the country against cyber attacks, and may also revise its laws in this area. An updated strategy would give businesses and people better tools to deal with...
Behind the Crypto Broker Accused of Enabling Ransomware Hackers
Oct 6 2021 // A cryptocurrency broker that the Biden administration considers a key cog in the recent ransomware epidemic is legally registered in the Czech Republic but doesn’t appear to have an office there. It may be operating...
Cyberattack Crippled Hospital, Led to Baby’s Death, Lawsuit Claims
Oct 5 2021 // Cyberattacks may affect more than organizations’ pocketbooks. They can also hinder a hospital’s care during a crucial moment, a lawsuit filed in Mobile, Alabama, claims. The mother of a child who was born...
White House Plans 30-Country Meeting to Combat Ransomware and Cyber Crime
Oct 4 2021 // Top U.S. national security advisers will gather officials from 30 countries this month with plans to combat the growing threat of ransomware and other cyber crime, President Joe Biden said on Friday. An online session...
Retailer Neiman Marcus Notifies 4.6M Customers of Data Breach
Oct 1 2021 // Dallas-based retailer Neiman Marcus Group said it recently learned that an unauthorized party obtained personal information associated with customers’ online accounts in May. NMG said it notified law enforcement of...
Chubb’s Digital Platform Blink Partners With USAA on Cyber Insurance
Oct 1 2021 // Insurer Chubb’s new digital platform Blink is partnering with its first insurance carrier to offer cyber insurance to military families. The arrangement allows USAA Insurance Agency to offer a Chubb-backed personal...
Russia Arrests Top Cyber Security Exec, Sending Shockwaves in Business Community
Oct 1 2021 // MOSCOW (AP) – Russian authorities have arrested an executive of a top cyber-security company on the charges of high treason, a move that has sent shock waves through Russia’s business community. A court in Moscow...
People Moves: Lockton Hires WTW’s Danyluk as Head Int’l Property, Wholesale; HSB Promotes Prentice in Cyber; Apollo’s Ker Becomes Castel’s Head of Performance
Sep 30 2021 // Lockton Names WTW’s Danyluk as Head Int’l Property in Wholesale P/C Lockton, the world’s largest privately owned independent insurance broker, has appointed Andrzej Danyluk as head of International...
Re/Insurance Cyber Rates Could Double Before 2023, as Attacks Skyrocket: S&P
Sep 30 2021 // The pandemic caused economic and insured losses from cyber attacks to skyrocket, which has heightened awareness of the risk and increased demand for cyber re/insurance, according to a report published by S&P Global...
