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

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 Insurer 274

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 Insured 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

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 Insurer Insured 262

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

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

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

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 Insurance Insurer 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 Insurer Insured 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.

Cyber 52

Cyber Injury 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

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

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 Insurance 321

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

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

JULY 17, 2024

Labour introduced the Cyber Security and Resilience Bill on Wednesday as part of its maiden … The new UK government plans to strengthen the nation’s defenses against cyberattacks, a month after a ransomware hack crippled London hospitals and health care providers.

Cyber 258

Cyber Risk 258

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

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

Relation

OCTOBER 5, 2023

However, with the many benefits of a connected, online enterprise comes a slew of risks that traditional insurance packages, such as Business Owner’s Policy (BOP) Coverage Insurance, may not address.

Cyber 52

Cyber Insurance Insurer Insured 52

Prof. Allan Manning

MARCH 5, 2024

The reality is that Lithium batteries are in many items today and we need to personally manage the risk. Earlier this year, I went to the LMI College and LMI RiskCoach teams and asked if they could put together a short course on the risks associated with the batteries.

Risk 130

Risk Business Interruption Casualty Insurance Property Insurance 130

Frankenmuth Insurance

SEPTEMBER 19, 2024

What risks does your business face? But the most successful businesses know how to prepare for these risks and respond to them quickly and effectively. See some of the business risks you could face and what you can do. Risk #1: Weather and natural disasters. Risk #2: Employee health and safety. Risk #5: The future.

Risk 86

Risk Workers Compensation Protection Agents 86

Triple-I: Business Insurance

APRIL 4, 2024

Cyber incidents reported to the FBI’s Internet Crime Complaint Center (IC3) in 2023 totaled 880,418. Meanwhile, supply-chain attacks increased, and weak notification frameworks further increased cyber risk for all stakeholders. These attacks caused a five-year high of $12.5 billion, the most for any cybercrime tracked.

Financial Loss 52

Financial Loss Cyber Crime Risk 52

Cowbell

APRIL 18, 2024

Introduction Data is the lifeblood of risk assessment and analytics. To do a thorough risk assessment, we must analyze risk signals embedded in various data sources, including both micro and macro data. Macro data, with its large-scale broader view, helps fill these gaps, providing a more holistic understanding of the risk.

Risk 40

Risk Cyber Claim 40

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 Policyholder Insurance Insurer 52

Risk Management Monitor

DECEMBER 5, 2022

As risk management professionals, these rapid changes have made our job more important than ever to our organizations. Yet the majority of our organizations—particularly in C-suites—remain far from giving risk management experts the seat at the table they need to effectively safeguard against enterprise threats, digital or otherwise.

Risk 76

Risk Cyber Building Crime 76

Cowbell

SEPTEMBER 23, 2024

The goal is to raise awareness of the risks posed by ‘insiders,’ and provide strategies, tools, and resources to identify and mitigate these threats. At Cowbell, we work with our agency partners and brokers to help educate our clients on emerging and evolving cyber risks and the enemy within can present a very real threat.

Cyber 104

Cyber Business Interruption Risk Protection 104

Insurance Journal

OCTOBER 2, 2024

The share of UK financial services firms worried about geopolitical risks is at its highest level since the 2008 crash, the Bank of England said. The BOE’s biannual systemic risk survey, which began during the financial crisis, said on Wednesday …

Risk 264

Risk Cyber 264

Risk Management Monitor

JANUARY 31, 2022

Last week, the RIMS TechRisk/RiskTech virtual event featured two days of education content on some of the biggest challenges and opportunities in modern risk management, focusing extensively on cyberrisk as well as risktech—the latest technology tools and techniques for managing risk. And we must adapt quickly.”. “We

Risk 49

Risk Cyber Protection Damage 49

Risk Management Monitor

JANUARY 27, 2022

Ramesh Srinivasan gave a keynote titled “The Opportunities and Downside Risks of Using AI,” touching on the key flashpoints of current technological advancement, and what they mean for risk management. He noted that as data storage has become far cheaper, and computation quicker, this has allowed risk assessment technology to improve.

Risk 75

Risk Crime Cyber Theft 75

Accenture: Cyber Insurance

MAY 23, 2019

In this blog series Accenture’s Max Richter examines how collaboration and innovation will play a critical role in tackling an ever-changing cyber risk landscape; and why London combines all the elements needed for a world-class cyber security ecosystem.

Cyber 52

Cyber Risk Insurance Insurer 52

Risk Management Monitor

DECEMBER 3, 2021

An increasingly key theme year over year, resilience is at the root of the latest Excellence in Risk Management India report from Marsh and RIMS—and the RIMS Risk Forum India 2021 virtual event , where the report was officially released today. They have crisis management plans in place, but they also dig deeper, look farther ahead.

Risk 45

Risk Building Business Interruption Cyber 45

Protect Commercial Insurance

SEPTEMBER 6, 2024

The Rise of Cyber Insurance As cyber threats become more sophisticated and frequent, the demand for cyber insurance has skyrocketed. In 2024, expect cyber insurance policies to become more comprehensive and tailored.

Commercial Insurance 52

Commercial Insurance Commercial Cyber Insurance 52

ProWriters

OCTOBER 2, 2024

Sure, you’ll need to assess the compromised data and financial losses, but to truly understand the breach and protect against future risks, data breach forensics is essential. Let’s break down the steps involved in a data breach forensic investigation and see how the experts pull back the curtain on cyber crime.

Cyber 52

Cyber Financial Loss Crime Damage 52