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Experts Say More Collaboration Needed for Critical Infrastructure Cyber Risk

Insurance Journal

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
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Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows

Insurance Journal

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

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Cowbell Resiliency Services (CRS): Empowering Policyholders with Proactive Cyber Defense

Cowbell

As cyber threats become more advanceddriven by AI innovations and intensified by geopolitical tensionsorganizations of all sizes must rethink how they protect themselves. This blog post aims to provide everyoneCowbell employees, broker partners, and policyholders alikewith a comprehensive overview of what CRS entails and why it matters.

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Markets/Coverages: CFC Says New Cyber Product Includes 2 Industry Firsts

Insurance Journal

Specialist insurer CFC announced a new cyber product Cyber Proactive Response (CPR) aimed at businesses with revenues up to $250 million. CFC said the new product includes two firsts for the cyber insurance industry. Policyholders will not only …

Cyber 130
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What Your Clients Must Know About Cyber Insurance War Exclusions

ProWriters

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.

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Keeping Up With Artificial Intelligence in Cyber Security

ProWriters

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.

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Becoming a Cyber Insurance Leader

Zywave

Within the next decade the cyber insurance market is projected to grow to over $120 billion according to a report by Fortune Business Insights. That means there’s a lot of opportunity for insurers who are looking to either grow their cyber business or expand into the cyber market. But with growth opportunities comes risk.

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