business cybersecurity News

Cyber Tops All Other Risk Concerns for Businesses of All Sizes

Cyber risks are the top concern among businesses of all sizes. Of the 1,200 business leaders who participated in an insurer-sponsored survey, 55% said they worry some or a great deal about cyber risks, ahead of medical cost inflation (54%), …

Agency Vows Lower Cyber Insurance Deductible for Multi-factor Verification

Coalition, a cyber insurance agency for small and midsize businesses, has launched an incentive program to reward policyholders who implement multi-factor authentication (MFA, also commonly known as 2FA) on their business email accounts. Coalition said recent reporting shows that enabling …

Banks and Insurers Have Improved Their Cyber Defenses

Despite the volume of cyberattacks doubling in 2017, banks and insurance firm firms are closing the gap on cyber attacks, having stopped four in five of all breach attempts last year. According to a study by Accenture, financial services firms …

New AIG Cyber Model to Evaluate, Score Client Cyber Risk

American International Group, Inc. has launched a new cyber benchmarking model that quantifies and scores client cyber risk. The AIG model evaluates a client’s cyber security maturity against 10 common attack patterns across 11 commonly used technology devices. The model …

Top Kentucky Hotel Says Data Breach Could Have Included Guest Info

A four-star Kentucky hotel has discovered a data breach threatening guests’ credit card information. News outlets report The Galt House hotel in Louisville said last month that an internal investigation found malware had been stealing information from a payment card …

Chubb Expands Cyber Risk Mitigation Offerings

Chubb has expanded its suite of cyber loss mitigation services for U.S. and Canadian policyholders to reduce the impact and likelihood of a cyber incident. Chubb’s expanded suite of cyber services for loss mitigation includes: Password Defense—Available to Chubb cyber …

Philadelphia Launches Cyber Security Liability Endorsement

Philadelphia Insurance Companies’ (PHLY) has launched a new Cyber Security Liability Endorsement that offers both first and third party protection for numerous classes of business. The Cyber Security Liability Endorsement can be added to most PHLY commercial package policies with …

Schinnerer Launches New Cyber Protection Package

Victor O. Schinnerer & Company has launched its Cyber Protection Package. Using Schinnerer’s online broker portal, brokers can quote a cyber policy in minutes by answering a few basic questions about their client. The Cyber Protection Package is designed for …

5 Recent Reports on Businesses and Cyber Security, Liability and Insurance

Cyber security is clearly on the minds of business executives, most of whom acknowledge their firms have been victimized by some sort of cyber attack. What are they thinking about cyber security, cyber liability and cyber insurance? Below are summaries …

Corporations Warned Not to Hack Back

The hacked are itching to hack back. So say a dozen security specialists and former law enforcement officials who described an intensifying and largely unspoken sense of unease inside many companies after the recent breach of Sony Corp.’s networks. U.S. …