Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Zywave Agrees to $11 Million Fund to Settle ITC Data Breach Lawsuit
Mar 21 2022 // Insurance technology provider Zywave has agreed to offer an $11 million fund to settle a class-action lawsuit related to a data breach at a company it acquired in 2020. A proposed class-action suit was filed against...
Ransomware Hackers Used AI Images, Microsoft Flaw in Campaign
Mar 18 2022 // A group of ransomware hackers used a variety of techniques to try breaching hundreds of companies last year, exploiting a vulnerability in Microsoft Corp.’s Windows and using artificial intelligence technology to...
Mosaic Creates Cyber Underwriting Hub in Bermuda
Mar 18 2022 // Mosaic Insurance is building a cyber-security underwriting unit in Bermuda, to align its global business strategy around the fast-growing risk. The specialty insurer has transferred its cyber team underwriter George Cole...
War in Ukraine Renews Questions Around Likelihood, Insurability of Cyber War
Mar 16 2022 // Powered by InsuranceJournal.tv Since Russia launched a full-scale military invasion of Ukraine on February 24, questions have resurfaced about the likelihood of a global cyber war. While experts say there isn’t a...
Experts Confirm Cyber Incidents Up Since Invasion of Ukraine; Insurance Underwriters Adapting
Mar 16 2022 // Since the start of the war in Ukraine, the number of cyber incidents in the U.S. has increased, and underwriters will need to adapt, according to a panel of experts at the PLUS Cyber Symposium. “There’s no...
People Moves: IOA Names 6 Regional Execs; DeFelice Heads Aon’s U.S. Construction; Stephens Named Cyber Leader at Allianz
Mar 15 2022 // Insurance Office of America Names 6 Regional Executives Insurance Office of America (IOA) is pleased to announce the appointment of six regional presidents to its leadership team. The appointees to regional president...
Cowbell Cyber Raises $100M in Latest Series B Funding
Mar 15 2022 // Cowbell Cyber, a provider of cyber insurance for small and medium-sized enterprises (SMEs), secured $100 million in capital in its latest series B funding round. The capital raise was led by Anthemis Group with...
Congress Approves Cyber Attack Reporting Requirement for U.S. Companies
Mar 14 2022 // Companies critical to U.S. national interests will now have to report when they’re hacked or they pay ransomware, according to new rules approved by Congress. The rules are part of a broader effort by the Biden...
People Moves: Sompo Int’l Restructures Insurance Business With 4 Teams; Miller Hires Martin for Sports & Entertainment; CFC Promotes Berry to Cyber Product Leader
Mar 11 2022 // This edition of International People Moves details appointments at Sompo International, Miller and CFC Underwriting. A summary of these new hires follows here. Sompo International Holdings Ltd., the Bermuda-based...
Ukrainian Man Charged in Major Ransomware Spree Extradited to U.S.
Mar 11 2022 // A Ukrainian man charged last year with conducting one of the most severe ransomware attacks against U.S. targets has been extradited to the United States and made a court appearance on Wednesday, the U.S. Justice...
Cyber Firm: At Least 6 U.S. State Governments Hacked by China
Mar 10 2022 // Hackers working on behalf of the Chinese government broke into the computer networks of at least six state governments in the United States in the last year, according to a report released Tuesday by a private...
Zywave Agrees to $11 Million Fund to Settle ITC Data Breach Lawsuit
Mar 8 2022 // Insurance technology provider Zywave has agreed to offer an $11 million fund to settle a class-action lawsuit related to a data breach at a company it acquired in 2020. A proposed class-action suit was filed against...
Insurers Urged to Stress Test Cyber Portfolios for Russian Attack Potential
Mar 7 2022 // Cyber risk and analytics firm CyberCube said it has seen cyber attacks on Ukrainian government services, infrastructure, and other industries and it urges the insurance industry to reevaluate exposures. Russia’s...
Cyber Market Primed to Grow and Eclipse Property by 2040: Gallagher Re
Mar 7 2022 // Following a pause to stabilize the vessel, the cyber market is poised for a wave of growth that could make it larger than the property catastrophe market by 2040, according to Gallagher Re. In fact, if the cyber market...
Small Business Revolution
Mar 7 2022 // Optimism, Resiliency Open New Doors for Sector Sector Buoyed by Record Start-Ups, Pandemic Resiliency The global pandemic, economic recession and worldwide supply chain shortages have not hindered the optimism and drive of...
Russian Cyberattacks May Test Insurer War Exclusion Policy Language
Mar 4 2022 // The Russian invasion of Ukraine has increased the risk of cyberattacks and potential claim costs for property/casualty (P/C) insurers globally that offer cyber coverage, the majority of which is underwritten in North...
Ukrainian Cyber Group to Target Russian Power Grid, Railways
Mar 4 2022 // A Ukrainian cyber guerrilla warfare group plans to launch digital sabotage attacks against critical Russian infrastructure such as railways and the electricity grid, to strike back at Moscow over its invasion, a hacker...
Maryland Weighs Measures to Enhance State, Local Government Cybersecurity
Mar 4 2022 // Maryland lawmakers highlighted a package of measures Wednesday to tighten cybersecurity in the state. Maryland House Speaker Adrienne Jones noted that Baltimore County was one of about 50 school systems across the nation...
Cyberattack on Toyota Supplier Shows How Small Firms Can Pose Big Threat
Mar 3 2022 // The cyberattack on a Toyota Motor Corp. supplier that brought the automaker’s domestic production to a halt shows how more vulnerable small firms can pose a big threat that Japan needs to do more to address,...
Funds Transfer Fraud Skyrockets in 2021; Small Businesses Hit Hard
Mar 2 2022 // Cyber claims from small and midsize businesses saw a “material uptick” in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its 2022 Cyber...
