Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Chubb Names Bryant as Regional Cyber Risk Manager, Europe
May 30 2017 // Chubb announced the appointment of Kyle Bryant to the newly created role of regional cyber risk manager, Europe. In his new role, Bryant will bring together Chubb’s dedicated local cyber risk expertise across its...
Cyber Insurance Market Growing More Slowly Than Expected: Allianz
May 26 2017 // The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of...
West Virginia Gov Orders State to Step-Up Cybersecurity Efforts
May 26 2017 // Gov. Jim Justice has directed the West Virginia Board of Risk and Insurance Management to take steps to protect personally identifiable information collected and kept by state agencies, including health information...
FM Global Includes Top 3 Business Risks in Global Resilience Index
May 25 2017 // FM Global has expanded its Global Resilience Index to include insights around three of the top risks facing businesses: cyber attack, natural hazards and supply chain failure. The interactive, online index ranks 130...
TMK Launches Visual Effects, Post Production Media Cover
May 25 2017 // Tokio Marine Kiln (TMK), the London-based specialist insurance business, announces the launch of visual effects (VFX) and post production media insurance. TMK said its post-production media insurance offers flexible cover...
Target to Pay $18.5 Million to Settle States’ Claims from 2013 Data Breach
May 24 2017 // Target Corp. on Tuesday agreed to pay $18.5 million to settle claims by 47 states and the District of Columbia and resolve a multi-state investigation into the retailer’s massive data breach in late 2013. The...
Cyber Security Expert Leonardo to Offer Anti-Ransomware Weapon
May 24 2017 // When a wave of ransom-requesting cyber attacks hit computers across the globe earlier this month, Leonardo SpA cyber-security experts had already warned clients that a larger-than-usual strike was about to hit. Now, the...
Cyber Security Firms in Spotlight Following WannaCry Attack
May 23 2017 // For Kris Hagerman, chief executive of UK-based cyber security firm Sophos Group Plc, the past week could have been bad. The WannaCry “ransomware” attack hobbled some of its hospital customers in Britain’s...
Cyber Insurance Sales Continue to Grow, Prices Stabilize, Brokers Report
May 23 2017 // Businesses are buying more cyber insurance and prices for the coverage are stabilizing, according to the latest survey by The Council of Insurance Agents and Brokers. According to the survey of about 100 commercial lines...
WannaCry Attack Could Be Opportunity for Cautious Insurance Industry: A.M. Best
May 23 2017 // According to a rating agency A.M. Best, the the recent WannaCry ransomware attack could be a benefit to the insurance industry if it leads to better-crafted policies with clear language that provide the desired protection...
Cyberattack Cost Michigan Utility $2M, 14 Employees
May 22 2017 // A utility company in Lansing, Mich., is still transitioning back to stability after a cyberattack temporarily disabled the company’s internal network and required it to pay a $25,000 ransom. Dick Peffley, general...
China Eyeing Cyber Rule Delay After Outcry from Foreign Firms: Sources
May 22 2017 // China may delay full implementation of controversial new cyber security rules, giving companies more time to prepare, two people who attended a meeting on Friday between the country’s internet regulator, businesses...
Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses
May 19 2017 // Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,”...
How Autonomous Vehicles Will Grow Auto Insurance Before Shrinking It
May 19 2017 // Insurance coverage for autonomous vehicles will bring $81 billion in new premiums to the insurance industry over the next eight years, according to a report from Accenture and Stevens Institute of Technology. These...
Novae Expands Cyber Team with Appointment of Quick from IBM
May 19 2017 // Novae Group plc, the specialist listed Lloyd’s insurer, announced that Stuart Quick has joined its cyber team as breach response and cyber operations manager, reporting to Dan Trueman, head of cyber and chief...
European Cyber Police Hunt for Culprits of Global Ransomware Attack
May 18 2017 // Days after the global cyber attack, U.K. police are trying to figure out whether it was an established network of criminals, state-backed hackers or bored teenagers that crippled the country’s health service. The...
Hackers Access Email Database of E-Signature Service Used by Insurance Industry
May 17 2017 // Electronic signature service DocuSign said on Tuesday hackers had temporarily gained access to a database containing customer emails, which the company linked to a surge in phishing emails sent to its users. The company...
Fitch Urges Insurer Caution as Cyber Insurance Demand Grows
May 17 2017 // The recent ransomware attacks in more than 150 countries are likely to increase demand for related insurance protection as they reveal the widening scope of corporations’ cyber risk exposures. But Fitch Ratings says...
WannaCry Ransomware Hackers Threaten to Release More Malicious Code
May 17 2017 // Governments turned their attention to a possible new wave of cyber threats on Tuesday after the group that leaked U.S. hacking tools used to launch the global WannaCry “ransomware” attack warned it would...
Some Firms Opt to Pay Hackers’ Ransoms, but Fail to Recover Data: Opinion
May 16 2017 // Behind the rise of ransomware lies the rise of bitcoin, the virtual currency of choice for hacker blackmailers who steal huge amounts of sensitive data. That doesn’t mean bitcoin is inherently to blame, but it does...
