Cyber Insurance

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Cyber Insurance

Putting Skin in the Cyber Insurance Game

January 13, 2022

Cyber insurance premiums have jumped 73% in the U.S alone. Greater specificity over what is (and what is not) covered has become a feature of many updated policies, as has the expectation that companies need to have greater cybersecurity hygiene in place in order to qualify for insurance.

Attack traffic targeting nation state showing cyber insurance coverage of cyber attacks

Cyber Security News

Lloyd’s of London: Cyber Insurance Will Not Cover Cyber Attacks Attributable to Nation-States

December 8, 2021

Lloyd’s of London has issued a bulletin indicating that its cyber insurance products will no longer cover the fallout of cyber attacks exchanged between nation-states. This definition extends to operations that have "major detrimental impact on the functioning of a state."

Man holding tablet with virtual lock showing password security and cyber insurance

Cyber Security Insights

Why Password Security Should Be a Qualifier for Cyber Insurance

October 12, 2021

If cyber insurance providers want to create a better system that can reduce claims and better protect their policyholders, they cannot ignore the biggest driver of cyberattacks – password security.

Male doctor hand using modern laptop in clinic showing healthcare organizations need for cyber insurance against ransomware

Cyber Security Insights

Why “Ransomware Insurance” Causes Healthcare Industry to Overlook Deeper, Underlying Security Issues

September 2, 2021

For the healthcare sector where 34% of all organizations were hit by ransomware last year, cyber insurance may seem like a good investment. However, this may give many organizations a false sense of security.

Cyber Security News

Ransomware Attack Reported at Insurance Giant AXA One Week After It Changes Cyber Insurance Policies in France

May 25, 2021

AXA made news earlier in the month for opting to drop ransomware payment coverage from new cyber insurance policies in France. Operations in Asia were subsequently hit by a ransomware attack.

AXA office building showing cyber insurance will not cover ransomware payments

Cyber Security News

France’s Largest Insurer Will No Longer Cover Ransomware Payments

May 13, 2021

AXA France, regional division of European insurance giant AXA Group and France's largest general insurer, has announced that it will no longer reimburse ransomware payments for customers within the country.

Hacker is hacking into the computer network showing cyber insurance firm suffering cyber attack

Cyber Security News

Cyber Insurance Firm Suffers Sophisticated Ransomware Cyber Attack; Data Obtained May Help Hackers Better Target Firm’s Customers

April 5, 2021

Cyber insurance firm CNA Financial potentially leaked clients’ data after being the victim of a sophisticated cyber attack that disrupted services. Data obtained may help hackers optimize targeting of firm’s customers.

Stacks of gold money coin showing cost of cyber claims

Cyber Security News

Stats on Cyber Claims: Cyber Crime is Most Expensive, Internal Failures are Most Frequent

December 2, 2020

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.

Businessman standing with umbrella showing cyber insurance becoming a necessity for companies

Cyber Security Insights

Cyber Insurance Becoming a Necessity, No Longer a Luxury for Prepared Companies

June 4, 2020

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.

Young man is holding umbrella during thunderstorm showing cyber insurance not covering emerging risks

Cyber Security News

Most Businesses Vulnerable to Emerging Risks Not Covered by Their Cyber Insurance

May 11, 2020

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.

Cyber Insurance

Putting Skin in the Cyber Insurance Game

Lloyd’s of London: Cyber Insurance Will Not Cover Cyber Attacks Attributable to Nation-States

Why Password Security Should Be a Qualifier for Cyber Insurance

Why “Ransomware Insurance” Causes Healthcare Industry to Overlook Deeper, Underlying Security Issues

Ransomware Attack Reported at Insurance Giant AXA One Week After It Changes Cyber Insurance Policies in France

France’s Largest Insurer Will No Longer Cover Ransomware Payments

Cyber Insurance Firm Suffers Sophisticated Ransomware Cyber Attack; Data Obtained May Help Hackers Better Target Firm’s Customers

Stats on Cyber Claims: Cyber Crime is Most Expensive, Internal Failures are Most Frequent

Cyber Insurance Becoming a Necessity, No Longer a Luxury for Prepared Companies

Most Businesses Vulnerable to Emerging Risks Not Covered by Their Cyber Insurance

Pegasus Spyware Emerges Again as Journalists “Extensively” Targeted in El Salvador

Fake Broker-Dealers Stole $50 Million Through an Online Investment Fraud Scheme Impersonating Legitimate Institutions

You’re Not Paranoid – Not Preparing for Insider Threats Puts Your Data at Risk

Threat Group Elephant Beetle Involved in Financial Theft of Millions Through Small Amounts Over Long Periods