Congress Studying Federal Reinsurance for Cyberterrorist Attacks May 26, 2021 By Andrew G. Simpson A research arm of Congress is studying the costs of cyber attacks on the U.S. infrastructure and whether the backup...
Beneath the Surface: Why Insurers Should Look Beyond “the Tip of the A.I. Iceberg” May 24, 2021 By Elizabeth Blosfield Nearly 75% of respondents in a recent survey from the Coalition Against Insurance Fraud and Shift Technology said they believe...
CNA Paid $40 Million in Ransom After March Cyber Attack May 21, 2021 By Kartikay Mehrotra and William Turton CNA Financial Corp., among the largest insurance companies in the U.S., paid $40 million in late March to regain control...
What 3 Experts Are Saying About Pipeline Attack and Cyber Insurance May 18, 2021 Here is what AM Best, Fitch Ratings and CyberCube think about the recent ransomware attack that shut down Colonial Pipeline:...
Pipeline Ransomware Attack Stirs Debate on Whether Insurance Attracts Hackers May 17, 2021 By Katherine Chiglinsky and Jamie Tarabay The ransomware attack on Colonial Pipeline Co. that caused gasoline shortages along the U.S. East Coast also sparked a debate...
Cyber Ransom Payments Set a Bad Precedent But Happen Often May 14, 2021 By Kartikay Mehrotra and Michael Riley The U.S. government’s fight to choke off ransom payments collected by hackers hit a major snag Thursday, following news that...
Colonial Pipeline’s Cyber Insurers Include AXA XL, Beazley May 13, 2021 Colonial Pipeline has cyber insurance arranged by broker Aon, with Lloyd’s of London insurers AXA XL and Beazley among the...
The Really, Really Big One: The Likelihood of a 1-in-100 Year Cyber Catastrophe May 12, 2021 By Elizabeth Blosfield More than a year into what some have called a 1-in-100 year pandemic with COVID-19, many may be wondering what...
Insurer AXA to Stop Paying for Ransomware Crime Payments in France May 9, 2021 By Frank Bajak In an apparent industry first, the global insurance company AXA said Thursday it will stop writing cyber-insurance policies in France...
Insuring Cyber Podcast: Social Engineering Risks Rising, but Cyber Coverage Still Lacks April 28, 2021 By Elizabeth Blosfield The COVID-19 pandemic has upended the work environment in many ways, and cyber experts say one unfortunate result of the...