cyber losses News

Billion Dollar Loss Scenarios Point to Need to Better Understand Cyber Events

As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the current market that run in the billions …

U.S. Cyber Market Is $2 Billion, Growing Fast, Profitable: Fitch

Cyber insurance coverage continues to be one of the fastest growing segments and represents a significant growth opportunity for U.S. property/casualty insurers, according to Fitch Ratings in a new report. The market has attracted about 75 insurers, with Chubb and …

Data Breaches Due to Employee Error, Third Party Suppliers on Rise: Beazley

Hacking and malware attacks including ransomware attacks continue to be the leading cause of breaches, accounting for 32 percent of the 1,330 incidents that insurer Beazley’s in-house Breach Response Services helped clients handle in the first half of the year. …