A cyberattack on a Boston-based labor union’s health fund resulted in the loss of $6.4 million, but it does not appear that the personal information of members was stolen or compromised, union officials said. Federal and local law enforcement agencies …
U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings. Fitch predicts that immediate improvement is unlikely this year from these actions and …
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 …
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 …
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. …
