Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Lockton Re: Hypothetical Cyber Event Offers Carriers an Opportunity to Review Risks
Apr 26 2024 // A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a report released by Lockton Re. The report, “A Kaleidoscope of Possibilities:...
Connecticut M&A Advisor Agrees to Pay $1.5M to Settle Data Breach Class Action
Apr 26 2024 // Merritt Healthcare Advisors, a Connecticut mergers and acquisitions (M&A) advisory firm for healthcare practices, has agreed to a $1.525 million settlement of a class action stemming from a 2022 data breach. The money...
People Moves: Zurich NA Names Higginbotham Head of Pro Liability & Cyber; FM Global CEO Appointed Board Chair; WTW Names Lombardo Named Chair of REHL Division
Apr 25 2024 // Zurich NA Names Higginbotham Head of Professional Liability & Cyber Kara Higginbotham Zurich North America, headquartered in Schaumburg, Illinois, has named Kara Higginbotham as head of professional liability and cyber...
Markets/Coverages: Ariel Re and Hiscox Re & ILS Launch Cyber Catastrophe Consortium
Apr 25 2024 // Re/insurer Ariel Re and Hiscox Re & ILS, the reinsurance and insurance linked securities arm of insurer Hiscox, announced the launch of CyberShock, a cyber catastrophe consortium. The CyberShock consortium is designed...
UnitedHealth Says Hackers Possibly Stole Large Number of Americans’ Data
Apr 24 2024 // UnitedHealth Group said on Monday that hackers stole health and personal data of potentially a “substantial proportion” of Americans from its systems in February, as the largest U.S. health insurer scrambles to...
Tiny Texas City Repels Russia-Tied Hackers Eyeing Water System
Apr 22 2024 // When Mike Cypert got the call that utilities in remote Texas communities were being hacked, he raced across his office to unplug the computer that ran his city’s water system. Hale Center is a dusty, cotton-growing...
What Is Volt Typhoon, the Hacking Group the FBI Warns Could Deal a ‘Devastating Blow’?
Apr 22 2024 // China is developing the “ability to physically wreak havoc” on U.S. critical infrastructure and its hackers are waiting “for just the right moment to deal a devastating blow,” FBI Director...
CRC Group in Hawaii and INSUREtrust Form Cyber Practice Group
Apr 22 2024 // CRC Group, headquartered in Honolulu, has integrated INSUREtrust, formerly housed in Starwind, into its wholesale brokerage division. This integration bolsters CRC Group’s cyber capabilities and expertise and...
People Moves: AEGIS London Hires AIG’s Johnson and Lambert for New Cyber Underwriting Team; Markel Promotes Gordge to Head of Terrorism in London
Apr 19 2024 // This edition of International People Moves details appointments at Lloyd’s syndicate AEGIS London and Markel, the insurance operations within Markel Group. A summary of these new hires follows here. AEGIS London...
FBI Says Chinese Hackers Preparing to Attack US Infrastructure
Apr 19 2024 // Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting “for just the right moment to deal a devastating blow,” FBI Director Christopher Wray said on Thursday. An...
MGM Resorts Sues FTC to Stop Investigation of Casino Hack
Apr 17 2024 // MGM Resorts International sued the Federal Trade Commission to stop an investigation into how it dealt with a cybersecurity attack last year. The company said the investigation deprives it of its fundamental due process...
CRC Moves InsureTrust Cyber Broker to Wholesale Division
Apr 16 2024 // Alabama-based CRC Group, a wholesale and specialty distributor and part of Truist Insurance Holdings, has shuffled its deck a bit, moving InsureTrust, a cyber coverage broker, from Starwind Specialty. Starwind was formed...
Fitch: U.S. Cyber Insurers Saw Strong Profits, Slowdown in Premium Growth in 2023
Apr 16 2024 // The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings...
Small Businesses See Stable Business Climate; Cite Cybersecurity as Top Threat
Apr 16 2024 // The first quarter Small Business Index, which measures small business owner confidence, is 62.3—similar to last quarter’s score of 61.3—reflecting a stable business climate. More small businesses see an improving...
UnitedHealth Expects Up to $1.6 Billion Hit from Change Healthcare Hack
Apr 16 2024 // UnitedHealth Group expects to take a hit of as much as $1.6 billion this year from disruptions caused by the February cyberattack at its Change Healthcare unit. Despite the disruptions, UnitedHealth still beat estimates...
Dutch Chipmaker Nexperia Hacked by Cyber Criminals
Apr 16 2024 // Dutch-headquartered chipmaker Nexperia was victim of a hacking attack by cyber criminals last month, the Chinese-owned company said on Friday, and was investigating the incident with the help of outside...
Chief Risk Officers Say Cybersecurity Most Pressing Risk: Survey
Apr 15 2024 // In an inaugural EY/Institute of International Finance (IIF) global insurance risk management survey, cybersecurity was ranked as the highest concern for chief risk officers. CROs surveyed said the top five risk types or...
Cyber Risk Strategies to Minimize Business Disruption, Control Liability and Litigation Exposure
Apr 15 2024 // Security threats are getting more sophisticated – and expensive – and this trajectory will continue. Digital footprints and technology usage will only keep expanding, adding to vulnerability and presenting more...
SC’s Top Officer: No Details on 2012 Hack That Forced $12M in Cyber Insurance
Apr 12 2024 // COLUMBIA, S.C. (AP) — Twelve years after a hacker stole personal data from more than 3.6 million people in South Carolina by obtaining Social Security numbers and credit card information from tax returns, the...
CISA Says Russian Hackers Used Microsoft Access to Steal Government Emails
Apr 12 2024 // The U.S. Cybersecurity and Infrastructure Security Agency said Russian government-backed hackers have used their access to Microsoft’s email system to steal correspondence between officials and the tech giant, an...
