cyber liability News

Cyber Coverage Confusion

I had the opportunity recently to read two cyber liability policies and they honestly made my head spin a little. There were coverages that I hadn’t thought about and restrictions that didn’t make sense (at least for a while). The …

The Evolution of Cyber Liability Exposure and Coverage

On July 25, Insurance Journal’s Academy of Insurance hosted a webinar by Joe Harrington, entitled The Evolution of Cyber Liability. Joe started the session in the early days of cyber liability when it was a fringe third-party liability coverage, sold …

Illinois’ Rush Health System Says Data Breach May Affect 45,000 Patients

Illinois-based Rush System for Health says personal information from about 45,000 patients may have been compromised in a data breach. The health system said in a recent financial filing that the exposed data may include names, addresses, birthdays, Social Security …

Texas Agents Group, Wingman Insurance Partner on Cyber Liability Coverage

The Independent Insurance Agents of Texas (IIAT) has entered an exclusive partnership with Wingman Insurance for cyber liability coverage. IIAT members can now access the Wingman Cyber online platform to provide cyber liability insurance for their commercial clients. Additionally, IIAT …

Great American Insurance Names Liberty Mutual’s Artin to Cyber Liability Team

Great American Insurance Group has hired Kelli Artin as divisional vice president of Cyber Liability. Artin will focus on the distribution strategy and marketing of the company’s cyber risk insurance offerings. Artin most recently served as a vice president with …

Shepherd Joins Ohio’s Great American Insurance as Sr. VP, Cyber Liability

Cincinnati, Ohio-based Great American Insurance Group has hired Betty Shepherd as divisional senior vice president of Cyber Liability. She will oversee the company’s cyber initiatives and existing cyber underwriting operations. Shepherd will also coordinate product management and development for all …

Commercial Cyber Liability Market to Reach $6.2B in Written Premium by 2020: Verisk

The total commercial cyber liability market will reach $6.2 billion in written premium by 2020 after annual growth rates of 20-30 percent, Verisk predicts in a market analysis. “Cyber liability risk is rapidly permeating every business that has any dependence …

Equifax Breach Could be Costliest Yet at $439M; Insurance to Cover $125M

Equifax Inc. said it expects costs related to its massive 2017 data breach to surge by $275 million this year, suggesting the incident at the credit reporting bureau could turn out to be the most costly hack in corporate history. …

Tokio Marine Kiln Taps Jomaa from CFC as Cyber Underwriter

Tokio Marine Kiln (TMK), the London-based provider of specialist and corporate insurance, has appointed Alex Jomaa as cyber underwriter. He takes up the role immediately and will report to Laila Khudairi, head of enterprise risk in London. Jomaa joins from …

$19 Billion in Potential Losses from Cloud Services Failure Mostly Uninsured: Lloyd’s, AIR

A cyber problem that temporary shuts down a top U.S. cloud computing provider could trigger as much as $19 billion in business losses, only a fraction of which would be insured, Lloyd’s of London said in a report on Tuesday. …