Insurance Journal

AUGUST 12, 2024

UK spies are stepping up efforts to tackle cyber and artificial intelligence threats from hostile foreign states, including the sort of online manipulation that helped foment rioting across the country in the past 10 days. GCHQ, the UK’s national security …

Cyber 314

Cyber 314

Insurance Journal

JULY 31, 2024

Verisk’s Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe event. With the designation, PCS Global Cyber believes what has come to be known as the CrowdStrike event will cause …

Cyber 278

Cyber Claim Insurance Insurer 278

Insurance Journal

JANUARY 7, 2025

said it is forming a new subsidiary for cyber and technology errors and omissions insurance products. Old Republic Cyber Inc. Old Republic International Corp. will be led by CJ Pruzinsky, formerly of Resilience. He will serve as president of the …

Cyber 246

Cyber Insured Insurer Insurance 246

Insurance Journal

AUGUST 1, 2024

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced the launch of its Active Cyber Insurance in Germany through its subsidiary, Coalition Insurance Solutions GmbH. Coalition’s offerings became available on Aug. Cyberattacks and IT system …

Cyber 264

Cyber Insured Insurer Insurance 264

Insurance Journal

JULY 30, 2024

Delta Air Lines has hired a law firm and will seek compensation from Microsoft and CrowdStrike over a global cyber outage earlier this month that disrupted flights around the world, CNBC reported on Monday. The Atlanta-based airline has been the …

Cyber 299

Cyber Compensation Business Interruption Commercial 299

Insurance Journal

JULY 29, 2024

Euro zone banks have “room for improvement” in their cyber security, starting with how they would keep their business running after a hack, the European Central Bank said on Friday. The ECB’s first ever cyber risk stress test was launched …

Cyber 270

Cyber Risk 270

Insurance Journal

OCTOBER 8, 2024

Specialty insurer Beazley announced the launch of a cyber consortium that provides comprehensive cover for large corporates with a turnover in excess of $1 billion, infusing $100 million of new capacity into the cyber market. Called Beazley Quantum, the consortium …

Cyber 264

Cyber Insured Insurer Insurance 264

Insurance Journal

AUGUST 20, 2024

US firms have warned that parts of a proposed cyber law could grant the Hong Kong government unusual access to their computer systems, highlighting the latest challenge to Western tech giants in the city. The Asia Internet Coalition, which includes …

Cyber 287

Cyber 287

Insurance Journal

JULY 22, 2024

Industry stakeholders continue to try to get a grasp of the implications from last week’s massive technology outage affecting motley industries around the world, but the theme of policy language is reoccurring for a cyber insurance industry not known for …

Cyber 299

Cyber Policy Insurance Industry Insured 299

Insurance Journal

AUGUST 25, 2024

Cyber companies — including … Microsoft Corp. is planning a meeting next month with cybersecurity companies that operate at the core of its Windows systems to discuss ways in which they can keep last month’s worldwide computer crash from happening again.

Cyber 290

Cyber 290

Insurance Journal

AUGUST 4, 2024

Insurers continue to grapple with elusive and ever changing cyber risks in the critical infrastructure sector, and Matthew McCabe, managing director for Guy Carpenter’s Cyber Center of Excellence, said he sees a three-party system emerging between insurers, policyholders, and the …

Cyber 264

Cyber Risk Policyholder Insured 264

Insurance Journal

DECEMBER 29, 2024

Hackers targeted around ten official websites in Italy on Saturday, including the websites of the Foreign Ministry and Milan’s two airports, putting them out of action temporarily, the country’s cyber security agency said. The pro-Russian hacker group Noname057(16) claimed the …

Cyber 263

Cyber Claim 263

Insurance Journal

OCTOBER 29, 2024

The Hartford and cyber-MGA Coalition announced a strategic, long-term capacity partnership in response to growing customer and broker demand for Coalition’s active cyber insurance approach in the UK market. The new capacity agreement combines the established strength of The Hartford …

Cyber 264

Cyber Broker Insured Insurer 264

Insurance Journal

OCTOBER 18, 2024

Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, has become the first cyber insurance provider in the UK to launch a service dedicated to recovering funds stolen by cyber attackers. The cyber insurer’s new UK “clawback” service …

Cyber 264

Cyber Agents Insured Insurer 264

Insurance Journal

SEPTEMBER 8, 2024

A new report from Marsh McLennan and Zurich titled “Closing the cyber risk protection gap” is calling for a closer collaboration between the insurance industry and the public sector as cyber insurance coverage gaps remain. “Both the insurance industry and …

Cyber 258

Cyber Insurance Industry Protection Risk 258

Insurance Journal

SEPTEMBER 11, 2024

Two organizations recently expressed optimism that the softening cyber market that emerged in 2023 will remain favorable into the future. In separate reports, Moody’s Ratings and Amwins Brokerage offered insights on the sector’s landscape. Moody’s shared that the market is …

Cyber 262

Cyber 262

Insurance Journal

OCTOBER 31, 2024

Howden, the London-based insurance intermediary group, announced the launch of Howden Safe+, a cyber insurance solution aimed at clients with revenues between $250 million and $2 billion. Safe+ simplifies the procurement process by reducing the number of questions required at …

Cyber 278

Cyber Insured Insurer Insurance 278

Insurance Journal

NOVEMBER 25, 2024

Cyber Command, said ongoing Chinese-linked cyber … Chinese hackers are positioning themselves in U.S. critical infrastructure in the event of a clash with the United States, a top American cybersecurity official said on Friday. Morgan Adamski, the executive director of U.S.

Cyber 240

Cyber 240

Insurance Journal

OCTOBER 21, 2024

Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …

Cyber 264

Cyber Underwriting Underwriter Risk 264

Insurance Journal

SEPTEMBER 11, 2024

A Ridgefield Park, New Jersey-based labor union for longshoremen, healthcare, maintenance and other workers has reported a cyber incident that may have exposed some members’ private information. The office for Local 1964, International Longshoremen’s Association, Local 1964 ILA Health & …

Cyber 264

Cyber 264

Insurance Journal

OCTOBER 28, 2024

A new report from Gallagher Re has found that cyber insurers could reduce loss ratios up to 16% by removing most-at-risk entities. Using independent analysis of cybersecurity performance data provided by Bitsight in combination with claims data, the study uses …

Cyber 269

Cyber Claim Risk Insured 269

Insurance Journal

OCTOBER 11, 2024

Economic and financial challenges (43%), cyber threats (39%) and people-related risks (38%) are the top three concerns facing UK businesses over the next 12 months, according to new research by Marsh McLennan. The findings come from Marsh’s UK Business Risk …

Cyber 264

Cyber Risk 264

Insurance Journal

SEPTEMBER 12, 2024

agreed to buy cyber-defense firm Recorded Future for $2.65 Mastercard Inc. billion to boost its ability to protect the card company’s massive global-payments system. The purchase from private equity firm Insight Partners will expand Mastercard’s ability to use artificial intelligence …

Cyber 260

Cyber Protection 260

Insurance Journal

DECEMBER 11, 2024

Envelop Risk, the data-driven cyber reinsurance and analytics specialist, announced it has just completed a capacity agreement with MS Reinsurance for a further three years. Further to that, MS Reinsurance recently became a client of Envelop’s new Solutions Business with …

Cyber 262

Cyber Risk Insurance Insurer 262

Insurance Journal

OCTOBER 8, 2024

New Jersey-based American Water, which runs water treatment, transmission, wells and other water facilities for 14 states, has reported a cyber incident. The company has deactivated its customer portal, MyWater, as a precaution, but does not believe any of its …

Cyber 252

Cyber 252

Insurance Journal

DECEMBER 16, 2024

The state of Rhode Island is dealing with a cyber attack that has shut down a portal citizens use to access health insurance and other social services. Governor Dan McKee said that on December13, the state was informed by its …

Cyber 246

Cyber Insured Insurer Insurance 246

Insurance Journal

NOVEMBER 14, 2024

Chinese state-sponsored hackers perpetrated a “broad and significant cyber-espionage campaign” in which they breached multiple telecommunications companies, US officials said in a statement on Wednesday, confirming additional details about cyberattacks with major national security implications.

Cyber 246

Cyber 246

Insurance Journal

JANUARY 8, 2025

head of cyber and technology. Burke assumes the role after serving as the company’s executive vice president, cyber and technology, since joining Canopius in 2020. Canopius, headquartered in Chicago, appointed Laura Burke as U.S. Burke brings more than a decade …

Cyber 243

Cyber 243

Insurance Journal

AUGUST 6, 2024

The City of Columbus said an investigation into a July 18 cybersecurity incident has found that a foreign cyber threat actor attempted to disrupt the city’s IT infrastructure, in a possible effort to deploy ransomware and solicit a ransom payment …

Cyber 277

Cyber 277

Insurance Journal

DECEMBER 17, 2024

Deloitte Consulting has been hit with class action lawsuits over the cyber breach of Rhode Island’s portal for state-administered benefits known as RIBridges. The suits have been brought in Rhode Island and New York federal courts on behalf of individuals …

Cyber 242

Cyber 242

Insurance Journal

DECEMBER 4, 2024

Aon Names O’Connell as Global Cyber Strategy and Growth Leader Aon plc named Robert O’Connell as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions business. O’Connell will be based in New York. Previously, O’Connell served …

Cyber 246

Cyber Insured Insurer Insurance 246

Insurance Journal

DECEMBER 19, 2024

Generali Global Corporate & Commercial Taps Allianz’s Moro as Head of Cyber Insurance … This edition of International People Moves details appointments at Generali Global Corporate & Commercial (GC&C) and the broker Miller. A summary of these new hires follows here.

Commercial 236

Commercial Cyber Broker Insured 236

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

JULY 19, 2024

A software update wreaked havoc on computer systems globally on Friday, grounding flights, forcing some broadcasters off air and hitting services from banking to healthcare. An update to a product offered by global cyberscurity firm CrowdStrike appeared to be the …

Cyber 299

Cyber Risk 299

Insurance Journal

JANUARY 5, 2025

The US Treasury Department sanctioned Chinese cybersecurity firm Integrity Technology Group for its alleged role in a state-sponsored botnet attack known as Flax Typhoon. Integrity Technology, which is traded on the Shanghai Stock Exchange, was involved in “multiple computer intrusion …

Cyber 264

Cyber 264

Insurance Journal

SEPTEMBER 9, 2024

The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …

Risk 298

Risk Cyber Premium Insured 298

Insurance Journal

DECEMBER 1, 2024

The Dutch company that owns Stop & Shop and Hannaford grocery stores across New England is dealing with a cyberattack that has disrupted online shopping, product deliveries and pharmacy services at some locations. Ahold Delhaize USA confirmed the attack in …

Cyber 288

Cyber 288