BOSTON (Reuters) - A rash of hacking attacks on U.S. companies over the past two years has prompted insurers to massively increase cyber premiums for some companies, leaving firms that are perceived...
While the risks posed by data breaches are by now widely recognized, effective management of the risk is lagging. Statistics indicate that concern about data breaches is up, yet half of all...
Good morning. Amazon.com IncAMZN +1.25%. has jumped into the Internet of Things, which falls into the category of good ideas whose time hasn’t quite come.
The company’s Amazon Web...
Insurance giant Warren Buffett is entering one of the most lucrative spaces in the industry.
Buffett’s Berkshire Hathaway Specialty Insurance unveiled on Tuesday two new insurance policies...
In justifying a reluctance to purchase cyber insurance coverage for data breaches, many retailers insist they don’t store credit card information after a sale. But experts say the...
Today the European Court of Justice — Europe’s highest court — invalidated the Safe Harbor agreement and framework that has permitted more than 4,000 companies to transfer personal data from the...
According to a new report from Timetric, the cyber risk insurance market is experiencing rapid development, with the size of global gross written premiums growing from US$850 million in 2012 to an...
The Internet of Things—sensors and actuators connected by networks to computing systems—has received enormous attention over the past five years. A new McKinsey Global Institute report, The...
A Ponemon Institute study sponsored by Experian Data Breach Resolution found that a majority of businesses surveyed had a data breach response plan in place, but many were not confident in...
Data breaches and cyber security have struck new fear into the hearts of every company because of the nature of the information they handle. As we have seen in the recent data breaches, the way...
The fifth annual NetDiligence® Cyber Claims Study uses actual cyber liability insurance reported claims to illuminate the real costs of incidents from an insurer’s perspective. Our goal is to raise...
It’s not an easy task to estimate how much a business will lose as a result of a security breach. Figuring out a typical loss is even more complicated. Businesses are cautious of sharing such data,...
The globalization of value chains, increased financial integration, rapid urbanization, and the Internet’s ubiquity have all accelerated worldwide economic growth over the past few decades....
Global losses from cyber crime have been estimated at $445bn (£291bn) a year, according to an insurer.
AGCS predicted premiums for cyber insurance would grow from $2bn to more than...
Recently, threats to cars have escalated from the realm of possibility to harrowing reality. Symantec is working with automakers, chipmakers, and other forward-thinking companies to block hackers’...
Organisations that believe they have incident response plans could be at risk because the documents have not been put together properly or updated regularly.
Sandra Cole, UK breach response manager...
The majority of businesses do not have cyber security insurance, with many not even aware such protection exists – and even those that do have insurance in place may find themselves at a loss if...
Beazley P.L.C., Aspen Insurance Holdings Ltd., and Brit Global Specialty have launched a consortium to underwrite cyber data breach coverage at Lloyd's of London for businesses domiciled...
New research from Quocirca and Trend Micro into “the preparedness of European organisations to deal with the aftermath of targeted attacks” has found that UK businesses suffer 40% more...
Businesses are beginning to recognize the importance of protection against cyber attacks
Cyber insurance is a potentially huge—but largely untapped—opportunity for insurers and reinsurers globally....