Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
The Changing Risk and Liability Landscape: New Tech, New Loss Scenarios
Oct 19 2018 // Advancements in technology are changing the risk landscape irrevocably and driving potential big changes in liability, and other insurance, claims activity. The opportunities for business from new technologies such as...
15 Emerging Risks from Policies to Playgrounds, Sandboxes to Scooters
Oct 18 2018 // When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some...
Hackers with Russian Ties Hit 3 E. European Companies: Cyber Security Firm
Oct 17 2018 // Hackers have infected three energy and transport companies in Ukraine and Poland with sophisticated new malware and may be planning destructive cyber attacks, a software security firm said on Wednesday. A report by...
Lax Cyber Security Could Be Federal Law Violation, SEC Warns
Oct 17 2018 // Public companies that fail to tighten their cyber security controls could be violating federal law, the U.S. Securities and Exchange Commission (SEC) said on Tuesday. The regulator’s warning came in the form of a...
UK Cyber Security Center Blames Most Attacks on Hostile States
Oct 16 2018 // The U.K.’s National Cyber Security Centre blamed hostile foreign states for the majority of the 1,167 attacks it has handled in the two years it’s been running, equivalent to 10 assaults a week. In the...
International Marine Underwriters Adds Cyber Coverage to Marine Policies
Oct 16 2018 // International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has expanded its product offering with information risk coverage to address a broad range of cyber incidents including data breach, threat of...
FBI, Global Regulators Investigating Facebook’s Largest-Ever Data Breach
Oct 15 2018 // Cyber attackers stole data from 29 million Facebook accounts using an automated program that moved from one friend to the next, Facebook Inc announced on Friday, as the social media company said its largest-ever data theft...
Cryptocurrency Theft Soars to $927 Million During 1st Nine Months of 2018: Report
Oct 12 2018 // Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, up nearly 250 percent from the level seen in 2017, according to a report from...
Stolen Apple IDs Used by Hackers to Steal Cash, Warn Chinese Digital Payments Firms
Oct 11 2018 // Ant Financial’s Alipay and Tencent Holdings Ltd. warned that cyber attackers employed stolen Apple IDs to break into customers’ accounts and made off with an unknown amount of cash, in a rare security breach...
The Hits Keep Coming: More Transitional Cybersecurity Requirements in New York
Oct 10 2018 // It has been more than a year and a half since the New York Department of Financial Services cybersecurity regulations (cyber rules) came into effect, and yet another compliance deadline has passed. Broadly, “covered...
Generali Launches Cyber Insurance Function and Cyber Security Subsidiary
Oct 9 2018 // Generali has launched a new Cyber Insurance function and the formation of a cyber security company. The Cyber Insurance function will combine a range of cyber insurance solutions with the support of a technology start-up,...
North Korean Hackers Tried to Steal $1.1B over 4-Year Period: FireEye Report
Oct 8 2018 // A North Korean hacking group focused on financial gain for the rogue state has penetrated banks around the world with a series of ongoing attacks, and has tried to steal at least $1.1 billion over the last four years,...
Israeli Risk Modeling Firm Kovrr Launches Silent Cyber Risk Identification Product
Oct 5 2018 // KOVRR, a provider of predictive modeling for cyber insurance, announced a silent and affirmative cyber risk product. The new product enables insurance and reinsurance carriers to identify uncalculated capital at risk and...
Cyber Reinsurers Aim to Master the Dangers of Global Accumulation
Oct 5 2018 // Cyber insurance is a market with enormous growth potential – but one that also has the potential to become a costly, worldwide event in a matter of seconds. Unlike natural catastrophes, cyber isn’t limited to...
New Cyber Insurance Package Protects Hedge Funds’ Trade Secrets and Fees
Oct 5 2018 // Hedge funds can spend years crafting a trading algorithm or a strategy to keep ahead of competitors. A Stone Point Capital-backed insurance broker is offering to help protect those trade secrets, and their fees, from a...
MGA Ascent Underwriting Appoints Stops from Brit as Head of Cyber
Oct 4 2018 // Ascent Underwriting, the London-based cyber and specialty lines managing general agent (MGA), has appointed Caspar Stops as head of cyber. Stops, who will take up the role at the end of November, joins from Brit Ltd. where...
Russia’s Military Has Led Campaign of Cyber Attacks Across Globe, Says UK
Oct 4 2018 // Russia’s military intelligence service has led a campaign of “indiscriminate and reckless cyber attacks targeting political institutions, businesses, media and sport,” the U.K.’s National Cyber...
U.S. Warns of New Cyber Attacks by Group with China Ties
Oct 4 2018 // The U.S. government on Wednesday warned that a hacking group widely known as cloudhopper, which Western cybersecurity firms have linked to the Chinese government, has launched attacks on technology service providers in a...
Zurich Updates Cyber Insurance Policy, Includes More Coverages
Oct 3 2018 // Zurich Insurance has launched Zurich Cyber Insurance Policy with an updated form designed to help businesses protect themselves from cybersecurity risks. The new form replaces Zurich’s Security & Privacy policy...
