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 Insurer 298

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 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

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

JULY 24, 2024

A key US regulator has privately found half of the major banks it oversees have an inadequate grasp of a broad swath of potential risks from cyber attacks to employee blunders, according to people familiar with the matter. In the …

Risk 263

Risk Cyber 263

Cowbell

NOVEMBER 18, 2024

Black Friday and Cyber Monday are synonymous with big sales, increased online shopping, and higher retail volumes—both in stores and online. So, why do Black Friday and Cyber Monday pose an increased risk for cyber threats? Ransomware : Attackers lock your company’s critical data and demand a ransom for its release.

Cyber 98

Cyber Protection Damage Theft 98

Insurance Journal

OCTOBER 29, 2024

As Cyber and Technology Errors & Omissions (Tech E&O) risks grow, insurers face increasing pressure to provide accurate, fast, and competitive coverage. This post is part of a series sponsored by Selectsys. Underwriters need tools that reduce complexity, integrate easily …

Cyber 130

Cyber Underwriting Underwriter Insurance 130

Insurance Marine News

NOVEMBER 17, 2024

Join Us The post DNV Maritime says shipping needs to improve training to keep up with cyber risks appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Cyber 52

Cyber Risk Marine Insurer 52

Insurance Journal

OCTOBER 8, 2024

Intersys, the UK-based provider of cyber risk management solutions, announced its expansion in the UK insurance market with the opening of an office in Leadenhall Market in London. Intersys’ London office will serve as a hub for delivering cutting-edge cyber …

Cyber 274

Cyber Risk Insurance Insured 274

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 93

Insurance Broker Cyber Broker Protection 93

Zywave

NOVEMBER 13, 2024

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.

Cyber 52

Cyber Policyholder Insured Insurance 52

Top Insurance Blogs

OCTOBER 9, 2024

What do you look for in a cyber policy as a risk manager? What are some of the key factors to consider in a cyber risk assessment? appeared first on My Top Insurance Blogs.

Cyber 52

Cyber Policy Risk Insurer 52

ProWriters

SEPTEMBER 1, 2024

Cyber threats continue to challenge individuals, countries, and companies in today’s digitally interconnected world. Have your business clients assessed their cyber risk recently and obtained adequate Cyber Liability Insurance? And some of these conflicts pose cyber security threats.

Cyber 98

Cyber Liability Insurance Risk Liability 98

Zywave

NOVEMBER 5, 2024

It's time to strengthen your cyber skillset. Discover how Zywave's suite of cyber solutions can help brokers and insurers educate policyholders, reduce risk and maximize profitability.

Cyber 52

Cyber Policyholder Broker Risk 52

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

SEPTEMBER 10, 2024

Insurers and asset managers worldwide continue to focus on cybersecurity amid growing risks, according to findings from a Moody’s Ratings survey that polled 110 companies operating across both sectors. Respondents’ total investment in cybersecurity rose by 53% between 2019 and …

Cyber 262

Cyber Insurance Insured Insurer 262

ProWriters

NOVEMBER 13, 2024

The CrowdStrike outage is also a stark reminder: No organization is invulnerable to disruptive, costly, and potentially disastrous cyber incidents. This incident caused the data access challenges, service interruptions, and damage to revenue and reputation an actual supply chain cyber attack can cause. What Is the CrowdStrike Attack?

Cyber 52

Cyber Insurance Insured Insurer 52

Elmore

SEPTEMBER 4, 2024

Industry believes state backstops would boost market and encourage good practice The post Insurance groups urge state support for ‘uninsurable’ cyber risks appeared first on Elmore Insurance Brokers.

Cyber 52

Cyber Risk Insurance Broker Broker 52

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 52

Cyber Insured Insurance Insurer 52

ProWriters

NOVEMBER 12, 2024

Healthcare cyber attacks and data breaches have risen in recent years, according to The HIPAA Journal. Both the Ascension ransomware attack and Change Healthcare data breach illustrate the consequences healthcare cyber attacks can have for patients and the organizations responsible for protecting their data.

Cyber 52

Cyber Liability Insurance Protection Liability 52

Zywave

NOVEMBER 6, 2024

Data embedded into quoting workflow provides exclusive insights into coverage levels using industry data and loss profiles Leading insurtech provider Zywave today announced a first-of-its-kind enhancement to its Cyber Quoting solution with the addition of embedded benchmarking. Comprised of over 400,000 insurance programs incepted by U.S.

Cyber 52

Cyber Broker-Agent Broker Commercial 52

Insurance Journal

NOVEMBER 20, 2024

New research reveals serious privacy flaws in the data practices of new internet connected cars in Australia. It’s yet another reason why we need urgent reform of privacy laws. Modern cars are increasingly equipped with internet-enabled features. Your “connected car” …

Risk 336

Risk Cyber 336

Insurance Journal

JULY 26, 2024

The first phase was implemented in March 2024 with EmergIn Risk rebranding into RFL Cyber. Ryan Specialty announced the unification of Ryan Financial Lines and the expansion of its product offerings. Ryan Financial Lines’ formation was announced in December 2023.

Cyber 278

Cyber Risk 278

Neilson Marketing Services

OCTOBER 2, 2024

Securing Your Website: Proactive Steps You Can Take No security measure is foolproof, but there are several proactive steps you can take to minimize your risk and fortify your website against attacks. A security breach could not only harm your clients but also expose you to legal risks, compliance issues, and significant reputational damage.

Cyber 105

Cyber Damage Protection Financial Loss 105

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

Jackson & Jackson

JANUARY 9, 2024

In an era where data is as valuable as currency, the risk of cyber threats looms more significant than ever, particularly for technology companies. Cyber Insurance, encompassing Data Breach and Cyber Liability coverage, is no longer optional but a critical component of a comprehensive risk management strategy.

Cyber 52

Cyber Broker-Agent Liability Theft 52

ProWriters

MAY 28, 2024

Contractors in the construction industry are not immune to cyber attacks. Ransomware attacks, phishing scams, and other types of cyber attacks can result in data breaches and other incidents that cause financial loss, reputational harm, and legal consequences. Cyber Insurance for contractors is an essential safety net.

Cyber 52

Cyber Business Interruption Insurer Insurance 52

ProWriters

FEBRUARY 19, 2024

As our shops go virtual, so do the risks. The retail sector has seen a significant uptick in cyber threats, with ransomware attacks surging by 75% in 2022, according to Sophos. Common cyber threats retailers encounter include data breaches and ransomware attacks, which have become more sophisticated over time.

Cyber 52

Cyber Insurance Insured Insurer 52

ProWriters

APRIL 17, 2024

When you think about cyber risks, you probably think about the dangers malware attacks, data breaches, and other incidents pose to your business clients’ operations, revenue, and reputation. But cyber threats can pose risks to not only sensitive data but also to physical safety. You’re right to do so.

Injury 52

Injury Cyber Liability Liability Insurance 52

ProWriters

JANUARY 23, 2024

Globally, only the manufacturing sector sees more cyber attacks than the financial industry does. The New York Department of Financial Services (NYDFS) established cyber security requirements for financial services companies in 2017. Since then, the cyber security landscape has changed. The newest changes went into effect Nov.

Cyber 52

Cyber Broker-Agent Risk Protection 52

Insurance Journal

JULY 24, 2024

The portion of the loss covered under cyber insurance policies … The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates.

Financial Loss 321

Financial Loss Cyber Insurance Policy Insurer 321

Zywave

NOVEMBER 20, 2024

In this exclusive CyXcel executive interview, two leading experts in the field, Dr. Megha Kumar, Partner, Chief Product Officer, and Head of Geopolitical Risk, and Jack Horlock, Principal Associate, share their invaluable insights into the future of cyber risk.

Cyber 52

Cyber Risk 52

Insurance Journal

SEPTEMBER 12, 2024

Lehigh Valley Health Network has agreed to a $65 million settlement of a class action with patients and employees affected by a 2023 ransomware attack that exposed personal and medical information including nude photos of patients. Every settlement class member …

Cyber 298

Cyber Risk 298

Protect Commercial Insurance

MAY 30, 2024

As a business owner, it is crucial to protect your empire from various risks and threats that can potentially disrupt your operations and financial stability. In this article, we will explore different types of insurance coverage that can help safeguard your business from property damage, liability claims, cyber threats, and more.

Cyber 52

Cyber Business Insurance Business Interruption Professional Liability Insurance 52

Corvus

JUNE 18, 2024

It’s not hard to understand why — the risk of unruly equipment and product mishaps are both common and completely tangible. That’s why cyber is tricky. It’s a newer risk that exists behind screens, not wet floor signs. Below, we’ll help you make the “bang for your buck” case for any cyber-resistant clients.

Cyber 40

Cyber General Liability Property Damage Liability Insurance 40

Insurance Journal

OCTOBER 3, 2024

While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified. During a recent market briefing, Rachel Turk, Lloyd’s chief underwriting officer, …

Underwriting 311

Underwriting Underwriter Risk Agents 311

Corvus

MAY 17, 2024

This roughly translates to a Business Owners Policy (BOP), a bundle of coverages that address common risks facing small and medium-sized businesses. A bundle approach may work for fruit, but when it comes to cyber risk, bite-sized coverage may not always be enough to keep small businesses protected.

Business Owners Policy 40

Business Owners Policy Cyber Policy Liability Insurance 40