Cyber Risk News

Artificial Intelligence Raises Real Risks from Malicious Hackers, Rogue States

Rapid advances in artificial intelligence are raising risks that malicious users will soon exploit the technology to mount automated hacking attacks, cause driverless car crashes or turn commercial drones into targeted weapons, a new report warns. The study, published on …

Cyber Risk Is Putting Pressure on Property Insurance Underwriters

Property underwriters are feeling the pressure as cyber has become an increasing source of risk within the property insurance industry, according to panelists at Advisen’s 2017 Cyber Risk Insights Conference, held last week in New York City. “I think ‘under …

Risk Cooperative Becomes Lloyd’s Coverholder for Cyber Insurance Facility

Risk Cooperative, a specialized insurance and risk advisory firm, has been approved as a Lloyd’s coverholder giving it the ability to provide up to $10 million in stand-alone cyber insurance coverage. Risk Cooperative can now offer middle market customers and …

CNA Adds Data Breach, Network Security Endorsement to Lawyers’ PL Policy

CNA has launched a new lawyers’ data breach and network security endorsement. The new endorsement is available as part of CNA’s Lawyers’ Professional Liability (LPL) policy. The CNA LPL policy provides coverage for client network damage claims up to the …

Level of Cyber Risk Management for Many Firms Is ‘Unsustainable’: Swiss Re

Despite increased awareness of rapidly evolving cyber threats, relatively few corporations have integrated cyber security into their mainstream risk management programs – a situation that is “unsustainable,” according to Swiss Re’s latest “sigma” report. The costs of cyber attacks have …

Chubb Expands Global Cyber Facility with Multiline Peril Endorsements

Chubb has launched a suite of multiline cyber peril endorsements for its Global Cyber Facility to helps risk managers address exposure gaps in their insurance portfolio and respond to the concerns of their c-suite and board. First introduced in 2015, …

Allied World Enhances Managed Care Cyber Liability Offering

Allied World North America has enhanced its cyber liability offerings and related services for its U.S. managed care package policy, 365Complete. The revised policy now contains heightened cyber protection and also expands the number of managed care clients who qualify …

Chubb Expands Cyber Risk Mitigation Offerings

Chubb has expanded its suite of cyber loss mitigation services for U.S. and Canadian policyholders to reduce the impact and likelihood of a cyber incident. Chubb’s expanded suite of cyber services for loss mitigation includes: Password Defense—Available to Chubb cyber …

Most Organizations Not Adequately Prepared for Cyber Attacks: Marsh & McLennan Cyber Handbook

No company is fully secure from cyber breaches, no matter how sophisticated its cyber defense mechanisms, which is why every company should develop a cyber risk management strategy, according Marsh & McLennan’s “Cyber Risk Handbook 2016.” Research reveals that that …

The Right Cyber Coverage Can Protect a Business from Financial Ruin

A recent report on cybersecurity still shows many companies are unprepared for cyberattacks. The report, conducted by KPMG and British Telecom, reveals only 22 percent of companies have a comprehensive plan in place to deal with a major cybersecurity incident. …