News

Cyber insurance market spurred by data breach impact, UK government backing and EU privacy reforms, says expert

22/04/2015 14:18
Rising boardroom interest in cyber insurance cover has been sparked by a number of major data breaches; the prospect of bigger data breach penalties under new EU data protection laws, and a UK...

Five Steps To Data Breach Coverage For Card Issuer Liability by Roberta Anderson

21/04/2015 20:39
Target’s $19 million settlement with MasterCard[1] underscores very significant sources of potential exposure that often follow a data breach incident.  In the wake of any significant...

Will Cyberinsurance Cover Target’s $19 Million MasterCard Settlement? by Scott Godes

21/04/2015 07:48
Another credit card in the mail? If you’re reading this post, you’ve probably received a new credit or debit card in the mail, attached by rubber cement to a cover letter explaining that your card...

Cyber compliance does not always equal risk management, Deloitte report finds

18/04/2015 21:14
Cyber risk is a business issue. That was one of four key themes that characterized the state of cyber risk programs and issues facing the retail and distribution sector, according to...

Cyber crimes rise 23%: The must-know sectors for new business by Caitlin Bronson

18/04/2015 21:04
The frequency, sophistication and severity of data breaches is set to explode, according to a new industry report.  For the savvy insurance producer, that means an increased opportunity to pitch...

5 Reasons You Should Have Cyber Liability Insurance by Minda Zetlin

18/04/2015 07:10
It's not just for big companies. Cyber insurance can make the difference between staying in business or shutting your doors after an attack. Imagine for a moment that your company has come under...

4 Tips to Sell Cyber to Small and Midsized Businesses by Lisa Doherty, Todd Cusano

17/04/2015 20:36
Cyber liability insurance is growing by leaps and bounds—as fast as EPLI by some comparisons but in a fraction of the time. According to online information security provider Symantec, businesses...

Cyber coverage – how do you sell it? by Donald Horne

17/04/2015 19:42
With the decline in revenues from auto insurance, brokers are looking for new revenue streams. Cyber has been hailed as the hot product for 2015, but brokers are asking one simple question:  how...

Hackers aren’t “geniuses:” The real reasons behind most cyber attacks by Caitlin Bronson

17/04/2015 19:29
Recent data breaches like those involving Target, Sony and Anthem have received attention for the size, scale and sophistication behind the attacks. Hackers were portrayed as well-moneyed operatives...

Target settles with MasterCard for $19M in breach

17/04/2015 19:19
April 16--Target Corp. has reached a $19 million settlement with MasterCard that is a big step toward resolving pending claims from banks and credit unions over losses from the retailer's massive...

Cyber insurance: An emerging market with growth opportunities by Tom Allen

16/04/2015 07:13
Data protection insurance—more often referred to generically as cyber insurance—is responding to some of the most pressing and complex threats faced by organizations. While the landscape continues to...

User mistakes aid most cyber attacks, studies show

16/04/2015 07:10
(Reuters) — When a cyber security breach hits the news, those most closely involved often have incentive to play up the sophistication of the attack. If hackers are portrayed as well-funded geniuses,...

Companies see personal data breach as biggest threat by Elise Viebeck

12/04/2015 19:49
The exposure of personal information is the most frightening cybersecurity threat to private companies, according to a survey released this week.  Executives and corporate counsel in...

Cyber-liability insurance: Understanding what you have and what you may need by Andrew Lustigman & Jeremy M. King

10/04/2015 20:10
Cyber-liability coverage cannot be addressed in a one-size-fits-all fashion In the growing technologically interdependent marketplace, any company that stores either its own data or data from...

Why is there a lack of capacity in the cyber market? by Jack Elliott-Frey

09/04/2015 18:48
At the moment, we would agree with AIG CEO Peter Hancock’s recent statement that cyber capacity is still lacking, due to the fact that there is a serious lack of concern across the majority of...

Insurance Chief: Cyber Attacks are most serious threat to UK Business by Jermaine Haughton

09/04/2015 08:05
Britain’s largest insurer has urged bosses to put safeguards against cyber attacks at the top of their priority lists, after a Russian hacker reportedly stole £650 million from banks around the...

Be aware of risks cyber attacks could have on your business, urges insurance expert by Darren Slade

07/04/2015 12:59
BUSINESSES need to become more aware of cyber security, according to an insurance specialist. Poole-based Alan & Thomas says any business, large or small, that uses computers is at risk of a...

IBM uncovers sophisticated bank transfer cyber scam

05/04/2015 07:57
(Reuters) — IBM has uncovered a sophisticated fraud scheme run by a well-funded Eastern European gang of cyber criminals that uses a combination of phishing, malware and phone calls that the...

30% Of Companies Would Pay Ransoms To Cybercriminals by Sara Peters

02/04/2015 23:09
Factor in under-reporting and the growing sophistication of ransomware -- like PacMan's social engineering scheme -- and the number might be higher.   If you're an organization that's been...

Analyzing Cyber Risk Coverage by Steve Raptis

02/04/2015 13:23
Unlike other types of insurance, there is no standard form on which the insurance industry as a whole underwrites cyber coverage. By: Steve Raptis | March 13, 2015 Many companies are now...
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