New report from Allianz finds that cyber crime causes the most expensive insurance losses, but that internal failures are the most frequent overall reasons for cyber claims. Read More
With number of cyberattacks climbing, having a cyber insurance with the appropriate coverage can make a difference between a company surviving an incident and shutting down because of it. Read More
Most businesses are more vulnerable to emerging risks such as malware and ransomware attacks than traditional threats yet there are coverages gaps in their cyber insurance policy. Read More
Marsh report shows that companies purchasing cyber insurance in 2019 more than doubled since 2014 as more and more companies are recognizing cyber threats as a critical business risk. Read More
Ransomware attacks are causing a spike in cyber insurance rates as insurers need to cover ransom amount and recovery costs if hackers fail to make good on unlocking the compromised systems. Read More
Cyber insurance providers will now incentivize clients to buy cybersecurity services and products under the new Marsh Cyber Catalyst program with first group of 17 services added this September. Read More
AIG is disputing a breach of contract lawsuit for not covering nearly $6 million in losses at SS&C Technologies. The insurer claims its cyber insurance policy do not cover brazen criminal attacks. Read More
Cyber insurance companies are choosing to settle things quickly with a ransom payment during ransomware attacks for fear of covering all the business interruption costs and delays of re-booting a company from scratch. Read More
Boom in cyber insurance market is no surprise with high-profile data breaches happening one after another. Do companies really understand what they are covered for? Read More
Only 18% of businesses recently surveyed said they have comprehensive cyber insurance coverage, however the gap is not closing with only 27% of insurers having the technological capability to provide a plan to cover cyber risks. Read More
