Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
The Battle Over Agency Data
Jan 27 2020 // New regulations, insurer pressure and growing consumer alarm about online security will force agents to act this year to protect their data from unfettered use by third-party vendors. The NAIC Insurance Data Security Model...
Nukes, Cyber, Climate Change: World Now at 100 Seconds to Midnight
Jan 23 2020 // It’s 100 seconds to midnight. Nuclear war, cyber threats and climate change are putting the world in more danger than it has been in over at least the last 70-plus years. The hands of the Doomsday Clock are now...
Major Cyber Attacks of 2019 Seen via Infographic from Cyber Risk Modeling Firm Kovrr
Jan 23 2020 // With the number of cyber attacks on the rise, it’s natural to think that this increase of cyber attacks is due to new actors and technological developments, said Yakir Golan, the CEO of Kovrr, the Tel Aviv-based...
Insurtech Firm CyberCube Calls on Insurers to Set Global Cyber-Security Standards
Jan 22 2020 // CyberCube, an insurtech focused on cyber risk analytics, is calling on the insurance industry to set global cyber-security standards as the world digitizes. “Internet-connected technologies is a prime opportunity for...
Ransomware Exposure Driving Up Cyber Insurance Costs
Jan 22 2020 // U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of...
Virginia House Committee Tackles Consumer Protections, Cybersecurity
Jan 21 2020 // In one of the more modern meeting rooms at the over two centuries old State Capitol, 22 lawmakers gather on Mondays to confront the increasing cybersecurity threats looming over Virginia residents. This session the House...
Forex Firm Travelex Resumes Customer-Facing Operations After Ransomware Attack
Jan 17 2020 // More than two weeks after a crippling ransomware attack forced Travelex staff to use pen and paper to calculate foreign currency exchanges, the company said the first of its customer-facing systems in Britain was up and...
Christmas Ransomware Attack Hit New York Airport Servers
Jan 15 2020 // An upstate New York airport and its computer management provider were attacked by ransomware over Christmas, officials said. Officials at the Albany County Airport Authority announced Thursday that the attack came to light...
Cyber Ranks as Top Peril for Companies Globally for 1st Time: Allianz Survey
Jan 15 2020 // Cyber incidents rank for the first time as the most important business risk globally, pushing the perennial top peril, business interruption (BI), into second place, according to the ninth Allianz Risk Barometer...
Brit Global Specialty Names AIG’s Ruhlman to U.S. Cyber Team
Jan 14 2020 // Brit Ltd. has named Douglas Ruhlman as assistant vice president, Cyber, for Brit Global Specialty USA. Ruhlman will work to support the underwriting and growth of Brit’s U.S. cyber portfolio. He will report to Jeff...
Forex Firm Travelex Restores Some Online Services After Ransomware Attack
Jan 14 2020 // Travelex is restoring operations to process foreign exchange orders electronically, it said on Monday, almost two weeks after cyber hackers took hold of its systems, leading to a global blackout of its online...
Insurance Journal’s Top 10 Cyber Insurance Stories of 2019
Jan 10 2020 // An A.M. Best report released in June gave a comprehensive look at the state of the cyber insurance market for 2018, the most recent year data was available, stating that it has seen continued growth and underwriting...
Las Vegas Reports Cyber Attack Breached City’s Computers
Jan 10 2020 // Las Vegas officials said that that a cyber attack breached the city’s computer systems, but it wasn’t immediately clear if any sensitive data was compromised. City officials were alerted to the breach around...
Travelex Ransomware Attack Part of Growing Trend in Cyber Crime: CyberCube
Jan 9 2020 // The ransomware attack against U.K. foreign exchange firm Travelex is just a taste of what’s to come with cyber crime, according to experts at CyberCube, the cyber risk analytics firm. Travelex announced this week...
Beazley and RenaissanceRe Launch Cyber Catastrophe Cover Backed by Capital Markets
Jan 9 2020 // Specialist insurer Beazley and reinsurer RenaissanceRe have jointly launched a product that provides Beazley with additional catastrophe cover for cyber events. The majority of the security behind the deal will be provided...
Texas Governor Warns of 10K per Minute Attempted Cyber Attacks from Iran
Jan 8 2020 // Gov. Greg Abbott is warning Texans to be “particularly vigilant” regarding potential cyber terrorism from Iran, suggesting that heightened tensions with the country have caused an increase in attempted attacks...
Update: U.K.-Based Foreign Exchange Firm, Travelex, Crippled by Ransomware Attack
Jan 8 2020 // Staff at foreign exchange firm Travelex are using pen and paper to serve thousands of customers after the company said cyber hackers were holding its systems to ransom, leading to a global blackout on its online currency...
Insurance Journal’s Top 10 Cyber Risk Stories of 2019
Jan 7 2020 // Cyber risks were cited as the top concern among businesses of all sizes in 2019, according to a Travelers report released in October. Of the 1,200 business leaders who participated in an insurer-sponsored survey, 55% said...
Some Systems Restored After New Orleans Cyberattack
Jan 7 2020 // About three weeks after a cyberattack on New Orleans city computers forced a shutdown, an official says some systems are ready to go back online. Public safety tools including the court system were scheduled to be up and...
Climate Change, Cyber Warfare Risks Are Key London Market Issues for 2020: IUA
Jan 3 2020 // Climate change and cyber warfare risks are two key London market issues highlighted by the International Underwriting Association (IUA) in its business plan for 2020. The association said it is establishing a new market...
