Another Federal Circuit Finds Phishing Loss Covered Under Crime Policy February 11, 2020 By Patrick Loi Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to...
Hospital’s Ransomware Attack Exposes New Risk for Muni-Bond Issuers February 6, 2020 By Mallika Mitra Hackers have finally done what bond issuers may have feared most from cyber criminals. A ransomware attack on Pleasant Valley...
AXA XL Appoints Benet as Global Chief Underwriting Officer for Cyber February 5, 2020 To help manage its cyber risk portfolio worldwide, AXA XL has named Elizabeth Benet to the newly-created role of global...
Travelex’s UK Money Transfer and Wire Services Operational After Ransomware Attack January 29, 2020 Travelex’s UK international money transfer service and wire offering is fully operational again, it said on Tuesday, almost a month...
Ransomware Exposure Driving Up Cyber Insurance Costs January 22, 2020 By Suzanne Barlyn U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers...
Gemini, Seeing Insurance As Key to Future of Virtual Currency, Starts Own Captive January 16, 2020 By Suzanne Barlyn U.S. virtual currency firm Gemini Trust Company announced on Thursday that it has launched its own insurance unit to boost...
Insurance Journal’s Top 10 Cyber Insurance Stories of 2019 January 10, 2020 By Elizabeth Blosfield An A.M. Best report released in June gave a comprehensive look at the state of the cyber insurance market for...
Travelex Ransomware Attack Part of Growing Trend in Cyber Crime: CyberCube January 9, 2020 By L.S. Howard The ransomware attack against U.K. foreign exchange firm Travelex is just a taste of what’s to come with cyber crime,...
Beazley and RenaissanceRe Launch Cyber Catastrophe Cover Backed by Capital Markets January 9, 2020 Specialist insurer Beazley and reinsurer RenaissanceRe have jointly launched a product that provides Beazley with additional catastrophe cover for cyber...
Update: U.K.-Based Foreign Exchange Firm, Travelex, Crippled by Ransomware Attack January 8, 2020 By Noor Zainab Hussain and Kirstin Ridley Staff at foreign exchange firm Travelex are using pen and paper to serve thousands of customers after the company said...