Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …
Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, has become the first cyber insurance provider in the UK to launch a service dedicated to recovering funds stolen by cyber attackers. The cyber insurer’s new UK “clawback” service …
The Pennsylvania Supreme Court has let stand a state appeals court ruling that tackled for the first time what is meant by “your computers” under electronic data coverage in a commercial property policy. The case involves claims by Bible video …
Specialty insurer Beazley announced the launch of a cyber consortium that provides comprehensive cover for large corporates with a turnover in excess of $1 billion, infusing $100 million of new capacity into the cyber market. Called Beazley Quantum, the consortium …
New research commissioned by Cohesity, an AI-powered data security firm, reveals organizations overestimate their cyber resilience capabilities and maturity, leading to significant business continuity disruptions and ransom payments. The Cohesity Global Cyber Resilience Report 2024, which polled over 3,100 IT …
Delta Air Lines said on Thursday it is pursuing legal claims against CrowdStrike and Microsoft after a global outage last month caused mass flight cancellations, disrupting travel plans of 1.3 million customers and costing it at least $500 million. A …
Due to the limited amount of impacted companies with insurance and the deployment of a quick fix to mitigate losses, Guy Carpenter said the insured losses from the CrowdStrike outage is likely between $300 million and $1 billion. The leading …
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced the launch of its Active Cyber Insurance in Germany through its subsidiary, Coalition Insurance Solutions GmbH. Coalition’s offerings became available on Aug. 1, 2024. Cyberattacks and IT system …
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), announced on July 26 that it has closed a $60 million Series C equity investment from Zurich Insurance Group, a global multiline insurer. “This investment from Zurich is …
The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates. The portion of the loss covered under cyber insurance policies …
