Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
How to Determine Your Clients’ Cyber Exposures
Nov 3 2014 // Cyber Liability is certainly one of the hottest topics in both the media and insurance industry today. It seems like headlines and news stories announce new victims of data theft almost on a weekly basis. But even with all...
Biggest Obstacle to Cyber Insurance Sales Is Customer Education
Oct 28 2014 // The biggest challenge in selling cyber insurance is educating businesses about the need for cyber coverage, according to a new survey. The survey of insurance professionals found that among carriers offering cyber...
Starr Launches Cyber Security & Privacy Risk Response on a Primary Basis
Oct 22 2014 // Starr Companies has launched Security & Privacy Risk Response, a cyber insurance offering that contains coverage for both first- and third-party costs. It is available on a primary basis and supplements Starr’s...
XL Adds 3 Underwriters to Cyber & Technology Risk Unit in New York
Oct 20 2014 // XL Group’s Cyber and Technology business unit has added three underwriters, Sean Donahue, Elissa Doroff and Richard Schulz, to its New York-based team. Donahue joins XL Group from Dewitt Stern Group where he most...
P/C Insurers Rush to Meet Rising Demand for Cyber Insurance
Oct 9 2014 // Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this...
JPMorgan Hackers May Have Hit Multiple Financial Firms
Oct 9 2014 // The hackers who raided the data banks of JPMorgan Chase & Co. used computers now linked to possible attacks on at least 13 more financial companies, according to a person familiar with the investigation. More than a...
Local Governments May Be Affected by Breach at Bond Insurer MBIA
Oct 8 2014 // Bond insurer MBIA was told two weeks ago about a server breach that compromised the data of thousands of local U.S. government entities, but it did not address the problem until earlier this week, according to the cyber...
Lloyd’s CEO Expects Cyber Insurance Surge
Oct 8 2014 // Lloyd’s of London Chief Executive Officer Inga Beale expects the market for cyber insurance to surge after hackers attacked some of the largest companies in the U.S., including JPMorgan Chase & Co. and Home Depot...
Ex-U.S. Security Chief Ridge, Guy Carpenter, Lloyd’s Launch Cyber Policy
Oct 7 2014 // Reinsurance specialist Guy Carpenter & Co. is launching a new cyber privacy and network protection product with Ridge Insurance Solutions Co., a new Lloyd’s managing agency led by Tom Ridge, former U.S. secretary...
ANV’s CEO Multitasks His Management of an Expanding Company
Oct 6 2014 // Matt Fairfield, the founder and CEO of Dutch specialty insurance group ANV, has a lot on his plate managing the company’s activities in insurance, reinsurance and the Lloyd’s market. Carrier Management caught...
Europol: Data Law Changes Needed to Fight Cybercrime
Oct 2 2014 // Law enforcers in Europe need greater powers to retain data for longer in order to catch cybercriminals selling discrete services that police cannot trace under existing regulations, according to a Europol...
Interview: D&O Cyber Liability, Cyber Risks Top Lawyers’ Agenda
Oct 1 2014 // Jeff Kingsley, a partner with the law firm of Goldberg and Segalla, specializes in technology risks, notably cyber liability and cyber risk, an emerging sector with many variables and pit falls for the unwary, which he...
Healthcare Firms at Risk; Hackers Value Medical Records Over Credit Data
Sep 26 2014 // Your medical information is worth 10 times more than your credit card number on the black market. Last month, the FBI warned healthcare providers to guard against cyber attacks after one of the largest U.S. hospital...
Home Depot Breach Tied to Bank Account Fraud, Reports WSJ
Sep 23 2014 // Home Depot Inc.’s data breach, which put about 56 million payment cards at risk, has fed fraudulent transactions that in some cases have drained money from customer bank accounts, the Wall Street Journal...
New York’s Lawsky Says Punishing Individuals Is Essential to Deterrence
Sep 23 2014 // Punishing executives for misconduct at banks is essential to deter wrongdoing on Wall Street, New York’s banking regulator said. “Just damning the entire firm is often times counterproductive,” Benjamin...
Willis North America Beefs Up Cyber Risk Practice with 6 Appointments
Sep 22 2014 // Willis North America has reinforced its cyber risk management and insurance services with several appointments to its FINEX Cyber/E&O Practice. The following individuals will focus on Willis’ national and...
3 from Lockton Join Expanding JLT Specialty’s Cyber Team in U.S.
Sep 22 2014 // JLT Specialty Insurance Services Inc., the U.S. subsidiary of specialty insurance and reinsurance broker Jardine Lloyd Thompson Group plc (JLT), has named several cyber risk specialists to its cyber risk team in the...
The Ever-Evolving Nature of Cyber Coverage
Sep 22 2014 // To understand the current state of network security and privacy (cyber) coverage, it is helpful to have an understanding of the development and some of the major milestones which helped shape the coverage. The first cyber...
Declarations
Sep 22 2014 // Stormy Relations “Storm surge and wind-driven waves flooded homes and moved them off their foundations in Kapoho, Hawaii County.” —Hawaii Gov. Neil Abercrombie describing the damaging force of the tropical...
Fighting Cybercrime
Sep 22 2014 // HSB, a specialty insurer that is part of Munich Re, along with Trail of Bits, a New York cybersecurity firm, recently presented a “Hacker Lab” to provide risk mitigation resources for small business owners. The...
