cyber insurance News

Expecting the Unexpected: Cyber Lessons from COVID and What Could Be Ahead

What is the biggest lesson that cyber insurers should carry into 2021 after a year in which the COVID-19 pandemic took center stage? In the first Insuring Cyber podcast episode of the new year and the fifth overall, Tim Zeilman, …

Marsh Unveils 15 Cybersecurity Vendors Insurers Rate Most Effective

Global insurance broker Marsh has unveiled for the second time its group of Cyber Catalyst designated products and services judged by leading cyber insurers to be effective in combating significant cyber risks, including ransomware and data management. This year’s cohort …

Digital E&S Broker Pathpoint Offers Multiple Cyber Quotes to Retail Agents

Pathpoint, a digital excess and surplus lines insurance broker, said it is offering a new capability to independent retail agents: access to multiple cyber insurance quotes from through a single online application containing only 9 underwriting questions. The new product …

Deep Fake Losses to Challenge Cyber Insurers, CyberCube Warns

What do Ulysses and his Trojan Horse, the pickpocket Fagan in Charles Dickens’ Oliver Twist and a video of Facebook’s Mark Zuckerberg touting how his company “owns” its customers have in common? They are old and new forms of deception …

Insurers Not Quitting on Cyber Even as Risks Mount

It could go down as one of the most significant cyber attacks yet. Russian hackers breached a number of U.S. government agencies and dozens of private businesses through a tainted update downloaded for network-monitoring software made by SolarWinds. Potentially significant …

Cybersecurity Firm Transmosis, Cysurance Offer Small Business Subscription

Cybersecurity firm Transmosis and insurance agency Cysurance have launched a bundled cybersecurity and insurance product that requires no insurance brokers, research, or yearly contracts and is sold on a monthly subscription basis. The new cyber liability insurance product works with …

Cyber Insurers Scale Back as Ransomware Attacks Rise

Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even scale back on the cover they offer against cyber crimes, a report from a leading insurer showed. The total costs …

Insuring Cyber Podcast Episode 4: What to Know About Recent Ransomware Advisories

As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various methods cyber attackers are using, ransomware has continued to steal the spotlight. Ransomware is a type of malicious software that …

Home Depot to Pay $17.5 Million to Settle With States Over 2014 Data Breach Claims

Home Depot Inc., the largest U.S. home improvement retailer, on Tuesday reached a $17.5 million settlement to resolve a multistate probe into a 2014 data breach where hackers accessed payment card data belonging to 40 million customers. The settlement with …

Howden Buys Cyber and Tech Specialist Broker Safeonline

Howden, the international insurance broker, announced it has reached an agreement to acquire Safeonline, a London-based cyber and tech specialist broker and Lloyd’s coverholder. The acquisition underlines the importance Howden places on this fast-growing product line and gives it an …