Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Beazley Offers ‘Seamless’ Financial Lines Cover for Crime, PI & Data Breaches
May 8 2017 // Beazley has unveiled two sets of financial lines’ products for organizations domiciled outside the United States. One is designed for the specific needs of financial institutions and the other provides comprehensive...
Declarations
May 1 2017 // Once Is Enough “We can’t talk a whole lot about the hack itself, because obviously we don’t want this to happen again.” — Sana Syed, spokeswoman for the city of Dallas, speaking about the hack...
Hackers’ Ransom Demands Rise as Victims Keep Paying: Symantec
Apr 27 2017 // Hackers are demanding increasingly hefty ransoms to free computers paralyzed with viruses, as cyber criminals seek to maximize profits from large numbers of victims willing to pay up, according to cyber security firm...
RIMS 2017: Firms Value Cyber Assets Highly Until Time for Insurance
Apr 25 2017 // Despite believing that their plant, property and equipment are now less valuable than their cyber assets, most organization spend four times more on insurance protecting their physical plants, properties and equipment than...
RIMS 2017: Why Cyber Should Be Treated as Standalone Insurance
Apr 24 2017 // Treating cyber risk as a standalone insurance market holds the promise of unlocking the potential for meaningful coverage for both insurers and buyers, according to a new report by JLT Re and JLT Specialty...
New Modeling Product From AIR Worldwide Analyzes Client Cyber Risk
Apr 24 2017 // Catastrophe modeling firm AIR Worldwide has released a new cyber risk modeling application for the insurance and reinsurance markets. ARC (Analytics of Risk from Cyber) is designed to evaluate any commercial policy...
MGA Nirvana Targets Media, Technology & Cyber Risks on Castel Platform
Apr 21 2017 // Nirvana Risk Partners has launched as an underwriting cell on Castel Underwriting Agencies’ MGA formation platform, targeting media, technology and cyber liability risks. Nirvana will underwrite risks for small and...
Munich Re, Beazley Partner to Provide Enhanced Cover for Large Cyber Risks
Apr 20 2017 // Building on their existing collaboration, Beazley and Munich Re’s Corporate Insurance Partner announced the creation of “Vector,” a partnership that aims “to bring innovation and capacity to the...
Cyber Thieves Hit 1,200 U.S. Hotels in InterContinental Chain
Apr 20 2017 // Global hotel chain InterContinental Hotels Group Plc said 1,200 of its franchised hotels in the United States, including Holiday Inn and Crowne Plaza, were victims of a three-month cyber attack that sought to steal...
Future Tech to Create Lower Claims Frequency, New Threats: Allianz Report
Apr 20 2017 // Technology is expected to be a major driver of liability claims in the years ahead – cutting frequency and increasing new threats such as cyber, product liability and recall risk, according a report published by Allianz...
Hackers Target Japan’s Mobile Gamers to Access Their Employers’ Data
Apr 18 2017 // Gamers beware: hackers offering free virtual trinkets don’t care about your passwords or personal data, but your employer’s most closely guarded secrets. An employee at a Japanese high-tech company learned this...
Insurance Rates for Architects, Engineers Stabilize or Decline in 2016: Survey
Apr 17 2017 // Although a slim majority of insurance companies providing architects and engineers professional liability insurance saw their rates stabilize in 2016, nearly one in three experienced modest rate decreases, according to a...
Political Risk a Growing Concern, Say Brokers, Insurers
Apr 13 2017 // Evan Freely has been insuring global risks for years — through the 2008 market meltdown, the 2002 crisis in Argentina, and the 1993 downturn in Venezuela. Yet turmoil now seems to be coming at a more rapid pace than...
Cyber Losses Testing Insurance Policy Boundaries
Apr 13 2017 // Now that cyber attacks and data breaches have become common, insurers and risk managers are struggling to assign the resulting costs and losses among different types of insurance. On the one hand, there are traditional...
First Steps Under New York’s Cyber Rules: Risk Assessment, Policies, Procedures
Apr 12 2017 // The Cybersecurity Requirements for Financial Services Companies (cyber rules) promulgated by the New York Department of Financial Services went into effect on March 1. Now, insurance companies, agencies, brokerages and...
Cyber Insurance: Many Choices Now That There Is No Choice
Apr 12 2017 // Every organization, of every size and operational orientation, needs cyber insurance to manage its exposures in this age of networked information. That was one thing speakers agreed on at the recent 2017 Cyber Liability...
Cyber Breaches Permanently Hit Share Prices, Especially Financials: Study
Apr 12 2017 // Cyber security breaches erode companies’ share prices permanently, with financials the worst hit, a study issued by IT consultant CGI and Oxford Economics has found. Severe cyber security breaches, such as those...
Travelers Adds Symantec Cybersecurity Services to Cyber Policies
Apr 10 2017 // The Travelers Companies, Inc. is now offering cybersecurity services from Symantec Corp. to eligible Travelers cyber policyholders. Symantec will provide a cyber resilience readiness assessment, cybersecurity awareness...
Hackers Strike Dallas Emergency Siren System
Apr 10 2017 // Hackers struck the sirens Dallas uses to alert residents to take shelter from inclement weather, triggering intermittent false alarms for about an hour and a half until officials deactivated the system early Saturday...
Nevada Governor Wants $3.5M for Cybersecurity Boost
Apr 10 2017 // Gov. Brian Sandoval is asking the Nevada Legislature to spend $3.5 million over the next two years to build up the state’s cybersecurity infrastructure and management. His proposed Office of Cyber Defense...
