cyber business interruption News

Delta Sues CrowdStrike Over ‘Catastrophic’ Software Glitch

Delta Air Lines Inc. sued cybersecurity firm CrowdStrike Holdings Inc. over the chaos caused this summer by a “catastrophic” software update that disabled millions of computers worldwide and grounded much of the airline’s passenger fleet. The update crippled Delta’s operations …

Delta Warns Cancellations to Stretch for Days After Outage

Delta Air Lines Inc. expects to cancel more flights this week as the carrier tries to recover from a crippling technology outage. The airline grounded nearly 900 flights as of Monday afternoon, bringing its total since Friday’s meltdown to almost …

CDK Expects All Dealers to Be Live by Early July 4

CDK said on Monday it anticipates all dealers to be live on its dealer management system (DMS) by late July 3 or early morning on July 4. The company, which provides software to car dealerships, had briefly shut down all …

Cyber Insurance Rates Drop as Businesses Improve Security, Report Says

Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cybercrime, even as ransomware attacks are rising, broker Howden said in a report on Monday. Insurance premiums to protect companies against cyber-attacks rocketed in …

CDK Tells Customers Dealer System Likely Down Until June 30

Car dealerships crippled by a cyberattack on software provider CDK Global probably won’t have their systems restored until the end of the month. In a message to clients Tuesday, CDK warned dealerships that because the outages could persist until June …

Viewpoint: Solving Systemic Risk Is the Cyber Market’s Number One Priority

The Grange Pub in Cardiff is a typical modern British tavern. A short stroll from the city centre, it’s busy most days of the week. Weekends are packed, especially for Sunday lunch. In March 2020 all that stopped. Government lockdown …

5 Ways Cyber Business Interruption Differs from Traditional Business Interruption: RIMS

While a typical business interruption can often be a confusing insurance situation, the picture gets even muddier when it involves cyber coverage. Chris Mortifoglio, a forensic accountant, knows all too well how muddy it can become. “I will tell you …

Business Interruption Cyber Risks Demand More Insurer Attention as 5G Dawns

Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently. BI coverage has drawn heightened attention in recent months due to the coronavirus pandemic and its ongoing disruption …

TMK Launches Flagship Cyber Product, Cyber Ctrl, in Asia

Tokio Marine Kiln (TMK) has launched its flagship cyber product, Cyber Ctrl, targeted at insurers in Asia. The product covers a range of first party losses including business interruption and provides clients with crisis management support in the wake of …

CFC Expands Cyber Insurance Product with Business Interruption Cover

CFC, the London-based managing general agent that specializes in emerging risks, announced it has expanded its cyber insurance product to include business interruption as well as a variety of cyber-crime activities. With CFC’s new cyber insurance product, businesses will benefit …