Insurance Journal

DECEMBER 17, 2024

Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter Arch Insurance has appointed Ezechiel Symenouh … This edition of International People Moves details appointments at Arch Insurance and Chubb Overseas General. A summary of these new hires follows here.

Cyber 262

Cyber Underwriting Underwriter Marine 262

Insurance Journal

APRIL 24, 2025

Washington, D.C.-based based BreachBits has received an investment of an undisclosed amount from Lloyd’s in what is the London-based global insurance marketplace’s third strategic innovation investment from among over 150 alumni of the Lloyd’s Lab. This investment follows BreachBits’ successful co-development …

Claim 263

Claim Insured Insurer Insurance 263

Insurance Journal

SEPTEMBER 26, 2024

Cybersecurity claims reported in recent years vary sharply, with larger claims reaching $500 million of data loss and smaller claims as low $1,000. NetDilligence released its annual report, which analyzes 10,464 claims from incidents between 2019 and 2023. The report …

Claim 297

Claim Cyber 297

Insurance Journal

OCTOBER 10, 2024

Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-Year Update, which details emerging cyber trends and their impact on …

Cyber 271

Cyber Claim Insured Insurer 271

Insurance Journal

NOVEMBER 3, 2024

Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its†2024 Cyber Claims Report: Mid-Year Update, which details emerging cyber trends and their impact on policyholders …

Cyber 274

Cyber Policyholder Claim Insured 274

Insurance Journal

AUGUST 5, 2024

CrowdStrike on Sunday rejected a claim by Delta Air Lines that it should be blamed for flight disruptions following a July 19 global outage sparked by a faulty update, and suggested it had minimal potential liability. Delta CEO Ed Bastian …

Claim 290

Claim Liability Cyber 290

Insurance Journal

AUGUST 9, 2024

Delta Air Lines said on Thursday it is pursuing legal claims against CrowdStrike and Microsoft after a global outage last month caused mass flight cancellations, disrupting travel plans of 1.3 million customers and costing it at least $500 million. A …

Cyber 264

Cyber Claim Insured Insurance 264

Insurance Journal

AUGUST 22, 2024

The West Virginia insurance commissioner’s office has adopted a new policy: It will soon begin destroying workers’ compensation claim files that are 10 years old or older. “Given increasing cybersecurity concerns and the type of information contained in the closed …

Workers Comp 279

Workers Comp Cyber Compensation Risk 279

Insurance Journal

OCTOBER 16, 2024

The case involves claims by Bible video … The Pennsylvania Supreme Court has let stand a state appeals court ruling that tackled for the first time what is meant by “your computers” under electronic data coverage in a commercial property policy.

Commercial Property 274

Commercial Property Claim Commercial Policy 274

ProWriters

FEBRUARY 23, 2025

As war is driving cyber security concerns around the globe, more organizations are turning to Cyber Insurance for protection. Cyber Insurance war exclusions can leave businesses vulnerable to financial loss. Since Russia invaded Ukraine in 2022, a much-anticipated “cyber thunder run” hasn’t materialized.

Cyber 53

Cyber Insured Insurance Insurer 53

ProWriters

FEBRUARY 7, 2025

Cyber attacks loom larger than ever, and generative artificial intelligence (AI) is a major reason why. At the same time, AI makes improved risk assessment and protection against cyber threats possible. For both of these reasons, artificial intelligence is reshaping cyber security strategiesincluding Cyber Liability policies.

Cyber 53

Cyber Broker-Agent Broker Liability 53

Insurance Journal

SEPTEMBER 25, 2024

This edition of International People Moves details appointments at Price Forbes Re and AXA XL. A summary of these new hires follows here. Price Forbes Re Taps Howden’s Waterhouse as Head of Property Fac Price Forbes Re, the London-based specialist …

Underwriting 263

Underwriting Underwriter Cyber Claim 263

Rough Notes

FEBRUARY 28, 2025

A look atand response tothe emerging risks that could dominate 2025 By Lori Widmer This year will be the year of cyber exposure. That according to the 2025 Allianz Risk Barometer, which surveys global customers as well as brokers, trade organizations, underwriters, claims professionals, and risk consultants.

Cyber 52

Cyber Underwriting Underwriter Risk 52

ProWriters

APRIL 2, 2025

When you think about the constantly evolving nature of cyber attacks , you may think about threat actors using AI to find and exploit new vulnerabilities in software and networks. Yet one recent cyber threat takes advantage of peoples trust in the post office. Many people perceive physical mail as more trustworthy than cyber mail.

Cyber 53

Cyber Financial Loss Broker Theft 53

ProWriters

OCTOBER 2, 2024

As an insurance broker, you likely recognize that while these technologies drive business operations, they also increase vulnerability to cyber crime, making Cyber Insurance a necessity for your clients. Helping your clients understand cyber risks and Cyber Insurance policy jargon can be challenging.

Insurance Broker 86

Insurance Broker Cyber Broker Protection 86

Insurance Journal

DECEMBER 29, 2024

Atos SE said a ransomware group called Space Bears claimed on Saturday to have compromised an Atos database.The French technology company, whose activities include cybersecurity as well as cloud and high-performance computing, said there’s no evidence so far that its …

Claim 147

Claim Cyber 147

Accenture: Cyber Insurance

AUGUST 26, 2024

Recently, many leading insurers have applied transformative solutions to enhance their cyber products. With the cyber insurance market projected to double to $29B by 2027, we explore what constitutes market-leading cyber claims management.

Cyber 52

Cyber Claim Insured Insurer 52

ProWriters

NOVEMBER 12, 2024

Healthcare cyber attacks and data breaches have risen in recent years, according to The HIPAA Journal. In February 2024, Change Healthcare, whose technology powers the processing of some 15 billion medical bills and insurance claims a year, suffered a ransomware attack. Several major breaches have made headlines.

Cyber 87

Cyber Liability Insurance Protection Liability 87

ProWriters

NOVEMBER 17, 2024

As a Cyber Insurance broker, you need to help your business clients understand the dangers ransomware poses, how to defend against them, and why Cyber Insurance is an indispensable part of any sound security strategy. UnitedHealth, which owns Change Healthcare, paid a $22 million ransom in Bitcoin to the cyber criminals.

Cyber 83

Cyber Insured Insurance Insurer 83

Cowbell

APRIL 16, 2025

Protecting your business from cyber threats is a full-time job. Cyber resiliency is not easily attainable and cannot be achieved with a single tool, such as endpoint detection. Q3: I have cyber insurance. A3: Cyber insurance is an essential safety net , but it doesnt prevent breaches. Why do I need this?

Cyber 52

Cyber Risk Premium Protection 52

Insurance Journal

JULY 15, 2024

A hacker who claims to have stolen sensitive call and text logs from AT&T Inc. said they were paid about $400,000 to erase the data trove. An analysis of a Bitcoin wallet address provided by the hacker shows a transaction …

Claim 317

Claim Cyber 317

Insurance Journal

NOVEMBER 22, 2024

in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s sigma. Global non-life premiums are expected to hit a decade-high growth level of 4.3% “Premium rates are now moderating, …

Life Insurance 278

Life Insurance Premium Claim Risk 278

Cowbell

MARCH 30, 2025

New Products: Building on a Strong Foundation For five years, Cowbell has refined underwriting precision in cyber and established sweeping distribution channels. Our unparalleled broker network and data-driven approach forged in the cyber arena, now power this foray into new coverage lines.

Cyber 64

Cyber Underwriting Underwriter Policyholder 64

Insurance Journal

AUGUST 7, 2024

turned down repeated offers for assistance following last month’s catastrophic system outage, echoing claims by CrowdStrike Holdings Inc. Microsoft Corp. said Delta Air Lines Inc. in an increasingly contentious conflict between the carrier and its technology partners. Microsoft employees reached …

Claim 264

Claim Cyber Liability 264

Insurance Journal

AUGUST 27, 2024

Pavel Durov, the chief executive officer of Telegram, has been detained in France over claims that the messaging service failed to properly fight crime on the app, including the spread of child sexual abuse material. The 39-year-old Russian-born billionaire was …

Crime 264

Crime Claim Cyber 264

Zywave

AUGUST 8, 2024

The cyber industry continues to grow exponentially with global cybercrime losses predicted to reach $10.5 This means the door is wide open for innovation and for industry professionals to make an impact, and when it comes to recognizing the best and brightest making bold moves in cyber, Zywave’s Cyber Risk Awards takes the crown.

Cyber 52

Cyber Risk Insurance Quotes Claim 52

Insurance Journal

JANUARY 6, 2025

The United Nations’ civil aviation agency is investigating reports of a “potential information security incident” following a claim that tens of thousands of its records had been stolen, the organization said on Monday. The Canada-based International Civil Aviation Organization (ICAO) …

Claim 243

Claim Cyber 243

Risk Management Monitor

JANUARY 27, 2022

As ransomware continues to spread and payment costs increase, cyber insurance rates have gone up exponentially. As a result, it is more important than ever for companies to understand their cyber vulnerabilities and exposures so they can ensure they are properly covered. One way to do this is through analytics.

Cyber 66

Cyber Underwriting Underwriter Risk 66

Prof. Allan Manning

FEBRUARY 24, 2023

During that time we have assisted thousands of claimants with their claims, and introduced world leading online services that take the lessons learned from claims, and use them to assist brokers and underwriters be better at their job, and to move the emphasis from price to protection.

Insurance Industry 130

Insurance Industry Business Interruption Claim Insured 130

Corvus

JANUARY 15, 2025

Predictions are a risky business in cyber, but were willing to put one out there: in 2025, the array of cyber-related risks that businesses face will continue to increase in diversity and complexity.

Cyber 40

Cyber Claim Risk Insured 40

Jackson & Jackson

JANUARY 10, 2024

In California’s vibrant technology sector, understanding the scope of your Cyber Liability Insurance and Data Breach Coverage is as crucial as having the coverage itself. The Gaps in Cyber Insurance: Cyber Liability Insurance and Data Breach Coverage are designed to protect against various cyber threats, but they have limitations.

Liability Insurance 52

Liability Insurance Cyber Liability Property Damage 52

Hunton Andrews Kurth

MARCH 3, 2023

A recent settlement filed by the Federal Trade Commission (FTC) and GoodRx may merit a review of your cyber insurance coverages. A comprehensive cyber policy covers attorneys’ fees and costs associated with formal regulatory or administrative investigations, including any resulting in penalties or fines.

Cyber 52

Cyber Policy Policyholder Insured 52

Paragon Independent Insurance Agencies

FEBRUARY 28, 2025

It helps cover accidents, repairs, and liability claims, ensuring your business isn’t financially burdened by unexpected incidents. Beyond vehicle coverage, you may also need general liability insurance, which protects against third-party claims for injuries or property damage during business operations.

Commercial Insurance 40

Commercial Insurance Commercial Insurance Agency General Liability 40

Distinguished

FEBRUARY 24, 2025

Cyber attacks: Digital systems like payment terminals and booking systems are convenient, but they also open restaurants up to the possibility of expensive data breaches. Slip-and-fall incidents: High foot traffic in dining areas and restrooms increases the risk of customer or employee injuries, which can lead to costly liability claims.

Liability 52

Liability Liability Insurance Insured Insurance 52

Mark Jackson Insurance Agency

MARCH 19, 2025

Commercial Liability Insurance to protect against claims related to third-party injuries or property damage. Cyber Liability Insurance to protect against data breaches and cyberattacks. If your expansion involves additional digital operations, such as online sales or customer databases, cyber liability insurance can help.

Workers Compensation 52

Workers Compensation Liability Property Damage Inland Marine Insurance 52

Distinguished

APRIL 9, 2025

Unlike agents or brokers, MGAs can bind coverage, price policies, and handle claims they essentially act as an extension of an insurer. Specialization: Brokers typically offer a broad range of standard insurance products, while MGAs specialize in niche markets like cyber liability, HOA insurance, and high-risk commercial properties.

Agents 52

Agents Broker-Agent Broker Underwriting 52

Insurance Journal

SEPTEMBER 5, 2024

million to settle claims it failed to let customers withdraw cryptocurrency from their accounts from 2018 to 2022, California Attorney General Rob Bonta said. A cryptocurrency platform run by Robinhood Markets will pay $3.9 The civil settlement with Robinhood Crypto …

Claim 162

Claim Damage Cyber Liability 162