Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
XL Catlin Enhances Cyber & Technology Coverage
Jul 27 2017 // XL Catlin has introduced CyberRiskConnect, a new policy form to address the expanding exposures of cyber and technology risks. According to John Coletti, chief underwriting officer for XL Catlin’s Cyber &...
Italy’s UniCredit Reveals Massive Data Breach Involving 400,000 Bank Accounts
Jul 26 2017 // UniCredit SpA said hackers accessed about 400,000 client bank accounts in Italy, taking biographical and loan data in one of the biggest breaches in Europe to date. The breaches occurred in September and October of 2016...
New Terror, Cyber Threats Create Coverage Gaps: CEO of UK’s Pool Re
Jul 25 2017 // Insurance against terror attacks must adapt to face up to the threats posed by so-called lone-wolf militants and the rise of cyber crime. That’s the view of Julian Enoizi of Pool Reinsurance Co., the U.K....
Ohio County Spends $200K on Cyber Insurance
Jul 24 2017 // The Ohio county that includes the capital city of Columbus is spending $200,000 on an insurance policy to cover cyberattacks. The Columbus Dispatch reports Franklin County’s $10 million policy will provide protection...
Driverless Car Technology and Its Impact in New York
Jul 24 2017 // New York Governor Andrew Cuomo in May signed a budget bill into law allowing self-driving and self-parking cars to be tested for one year on New York public highways. Prior to this law going into effect, the technology was...
Major Cyber Attack Could Cost Global Economy $53 Billion: Lloyd’s
Jul 24 2017 // A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a...
Privacy Is New Hot Workplace Issue for EPLI Claims
Jul 24 2017 // About 40 percent of employment practices liability policies (EPLI) that I review fail to cover allegations of employment-related breach of privacy. These range from complaints that the employer failed to protect sensitive...
Surplus Lines Market Keeps Up with Demand for Cyber Liability Coverage
Jul 24 2017 // In Texas and across the nation, the surplus lines insurance market is keeping up with the increase in demand for cyber liability protection, according to the Surplus Lines Stamping Office of Texas (SLTX). SLTX recorded a...
FBI Tracked Nearly 300K Cyberattacks in U.S. in 2016
Jul 24 2017 // The FBI’s Internet Crime Complaint Center (IC3) last year tracked nearly 300,000 cyberattacks in the United States and those attacks resulted in more than $1.6 billion in total losses. But apparently those numbers...
Cyber Attack on Ukrainian Medical Facilities Sets ‘Dangerous’ Precedent: Experts
Jul 21 2017 // Dr. Lidiia Podkopaieva was about to click “send” on an order of new surgical instruments when her computer monitor suddenly went dark. She speed-dialed the clinic’s technician but didn’t even have...
Sullivan Brokers Enhances Healthcare Provider Program, Adds Cybersecurity Coverage
Jul 20 2017 // Sullivan Brokers has launched an enhanced program that offers first party protection specifically tailored to address the exposures healthcare providers face when presenting claims to public or private insurers. The...
Tillerson’s State Department Reorganization Sidelines Cybersecurity Unit: Report
Jul 19 2017 // Secretary of State Rex Tillerson is shutting down an office that coordinates cyber issues with other countries, according to two people familiar with the plan, in a move that critics said will diminish the U.S. voice in...
Major Cyber Attack Could Cost Global Economy $53 Billion: Lloyd’s
Jul 17 2017 // A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report...
Adultery Site Ashley Madison to Pay $11.2 Million for User Data Breach
Jul 17 2017 // The owner of the Ashley Madison adultery website said on Friday it will pay $11.2 million to settle U.S. litigation brought on behalf of roughly 37 million users whose personal details were exposed in a July 2015 data...
Nearly 1.9K Reports of Cybercrime in Arkansas in 2016: FBI
Jul 12 2017 // There were nearly 1,900 instances of internet crime in Arkansas last year, from nonpayment scams to cyberattacks on state agencies, according to the FBI. FBI officials said the state’s attacks are a small percentage...
Looming EU Cyber Rules to Provide ‘Shot in Arm’ for Cyber Market: A.M. Best
Jul 12 2017 // The European Union’s looming General Data Protection Regulation (GDPR) will require mandatory notification of serious data breaches and potentially massive fines for failure to comply. That’s the bad news. The...
Insurers Say Legal Malpractice Claims Hold Steady But Defense Costs Rise
Jul 11 2017 // Most leading legal malpractice insurers saw their claims level off in 2016 although their cost to defend claims continued to escalate. A study by insurance broker Ames & Gough finds that while the number of new...
Symantec to Acquire Israeli Cyber Security Startup Fireglass
Jul 7 2017 // Symantec Corp. is acquiring Israeli cyber security startup Fireglass, the company said on Thursday, in a small deal designed to boost its products that protect corporate email and web browsing from threats. Symantec is...
Days of Cyber Insurers Avoiding Costly Claims May Be Numbered: Expert
Jul 7 2017 // Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over...
Zurich North America Names Ironshore’s DeLong VP of Cyber Underwriting
Jul 6 2017 // Zurich North America has hired Yosha DeLong as vice president of cyber underwriting, a role that expands Zurich’s cyber resources as the cyber exposures continue to evolve beyond data security. DeLong will lead the...
