financial industry cyber risk News

New Modeling Product From AIR Worldwide Analyzes Client Cyber Risk

Catastrophe modeling firm AIR Worldwide has released a new cyber risk modeling application for the insurance and reinsurance markets. ARC (Analytics of Risk from Cyber) is designed to evaluate any commercial policy (including those vulnerable to silent cyber), measure and …

Ironshore’s Pembroke Agency Adds Cyber Coverage to Financial Institution Crime Policies

Ironshore’s Pembroke Managing Agency Limited has updated its Financial Institutions Crime program to include cyber fraud and cyber extortion. Pembroke’s crime coverage for Financial Institutions indemnifies a company for direct financial loss resulting from internal and external fraud incidents. The …

ABA Insurance, BakerHostetler to Provide Cyber Risk Management Program for Banks

ABA Insurance Services (ABAIS) launched a new cyber insurance product for banks that are insured through ABAIS to help them prevent, prepare for, and respond to data security incidents. BakerHostetler’s privacy and data protection team will provide legal services for …

JPMorgan Hackers May Have Hit Multiple Financial Firms

The hackers who raided the data banks of JPMorgan Chase & Co. used computers now linked to possible attacks on at least 13 more financial companies, according to a person familiar with the investigation. More than a month after the …