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Cyber Insurance

Merck company logo on website page showing NotPetya attack and cyber war
Cyber SecurityNews

“Cyber War” Exception Struck Down in Merck’s Battle With Insurance Company Over NotPetya Attack

February 3, 2022
Recent ruling in New Jersey involving the NotPetya attacks indicates that insurers may not be able to use "cyber war" clauses as an excuse to not pay out for remediation of ransomware attacks.
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Umbrella in rain showing how AIG case highlights complexities of covering cyber-related losses
Cyber SecurityNews

AIG Case Highlights Complexities of Covering Cyber-Related Losses

October 24, 2019
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.
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Businesswoman standing in the rain holding umbrella showing that cyber insurance coverage may not be what was expected
Cyber SecurityInsights

Businesses Are Finding Out That Cyber Insurance Coverage Might Not Be What They Thought

January 31, 2019
Given the growing prevalence of data breaches, evidence is building that many cyber insurance policies might be close to worthless, as insurance companies look for any excuse possible to avoid paying out the full amount of a claim.
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Businessman standing with umbrella showing cyber insurance becoming a necessity for companies
Cyber SecurityInsights

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

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.
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Image of stethoscope on laptop keyboard representing cyber risk benchmarking for cyber insurance
Cyber SecurityNews

Cyber Insurance Gets a Boost with Cyber Risk Benchmarking Model

January 5, 2018
AIG releases new cyber risk benchmarking model to quantify and score cyber maturity of clients, boosting cyber insurance and promoting metrics useful for the industry to evaluate the risks that organizations face in terms of cyber security.
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Young woman with a red umbrella on the background of the sea showing cyber insurance and risk quantification
Cyber SecurityInsights

Cyber Insurance Is a Perfect Storm: Risk Quantification Can Rescue It

March 9, 2022
Cyber insurers have struggled to assess and quantify the risk they are underwriting. The only way the cyber insurance industry will be able to support the market's growing demand is through trust and transparency built upon quantifying digital risk through sound data science principles.
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Business man standing on the sea in the middle of storm showing cyber insurance may not cover cyber war
Cyber SecurityNews

Cyber Insurance Not Valid in Case of Cyber War, Says Major Insurance Company

January 17, 2019
In what is shaping up to be a major test case for the entire cyber insurance industry, Zurich Insurance is refusing to pay out a $100 million claim from Mondelez, saying that the ransomware attack was actually an act of “cyber war,” and therefore, is not covered by the policy.
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Image of umbrella in the rain representing cyber insurance for public sector agencies
Cyber SecurityInsights

Cyber Insurance Now Critical for Public Sector Agencies?

November 29, 2017
The private sector is increasingly turning to cyber insurance to at least mitigate some of the effects of hacking, however governments across the globe seem to have been slow to take advantage. Given the severity of the cyber threats, is it time for public sector agencies to leverage cyber insurance offerings?
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Woman using calculator to calculate bills showing how the cyber insurance payouts are encouraging more ransomware attacks
Cyber SecurityNews

Cyber Insurance Payouts Are Only Encouraging More Ransomware Attacks

October 1, 2019
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.
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Happy woman shopping showing credit card data stolen from online checkout using PHP code

FBI: Hackers Injected Malicious PHP Code Into Online Checkout Pages to Scrape Credit Card Data

Hand touching screen of smartphone showing cyber defense

5 Ways Enterprises Can Protect Their Data, Time, Money, and Infrastructure

New Data Shows Compliance Falls Short of Protecting Your Organization

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Bad Bot Traffic Report: Almost Half of All 2021 Internet Traffic Was Not Human

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