Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Cowbell Cyber, Palomar E&S Enter Multi-Year Partnership
Oct 21 2021 // Cowbell Cyber, an AI-powered cyber insurance provider for small to medium enterprises, announced a strategic partnership with Palomar Excess & Surplus Insurance Co. to expand its offerings on a non-admitted basis...
‘We Cannot Do This Alone.’ Biden Cyber Crime Fighter Seeks Corporate Help.
Oct 21 2021 // U.S. Deputy Attorney General Lisa Monaco has a message for corporate America: The U.S. Justice Department needs its help in order to take down cyber criminals. “We cannot do this alone,” Monaco said on...
Lockton Launches Silent Cyber Property Solution for Businesses
Oct 20 2021 // Lockton, the privately-owned independent insurance broker, has launched its Silent Cyber Property Solution, a standalone policy that covers businesses against property damage and ensuing time element losses resulting from...
Treasury Report Offers Insight Into Surge in Ransomware Activity in 2021
Oct 19 2021 // There was $590 million in suspicious activity related to ransomware in the first six months of 2021, exceeding the entire amount in 2020, when $416 million was reported, according to a report released Friday by the U.S....
Beazley’s Cyber Defense Specialist, Lodestone Security, Opens London Office
Oct 19 2021 // Lodestone Security, a Beazley subsidiary and leader in cyber defense and incident response in the U.S., is expanding its global reach by opening an office in London. Adam Harrison joins the group as managing director of...
Kemper Proposes $17.6M Settlement of Data Breach Claims
Oct 18 2021 // Kemper Insurance has proposed to settle a class action stemming from two data breaches in a deal valued at about $17.6 million. The dual breaches could have compromised the personal information of an estimated 6.1 million...
U.S. Property Insurers Could be Facing $12.5B in Hidden Cyber Losses
Oct 18 2021 // The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by...
Toronto Cyber Insurtech Boxx Expands to U.S., Names Itriago as President
Oct 14 2021 // Right after closing its Series A financing round, Boxx Insurance Inc. announced its expansion to the U.S. and its appointment of Hilario Itriago as Boxx USA president. The digital managing general agency promises that its...
Marsh McLennan Launches Cyber Risk Analytics Center
Oct 14 2021 // Marsh McLennan announced the launch of its Cyber Risk Analytics Center, a resource that brings together the cyber risk data, analytics and mitigation expertise of its four businesses and other business, government and...
Biz Interruption, Recovery Costs Drive Financial Losses From Cyber Attacks: Report
Oct 14 2021 // During the COVID-19 crisis, global cyber attacks skyrocketed in a digital pandemic driven by ransomware, according to a report published by Allianz Global Corporate & Specialty (AGCS). Further, the report noted,...
What Corporations Can Do to Avoid Ransomware Attacks
Oct 14 2021 // Allianz Global Corporate & Specialty (AGCS) has published a checklist of cyber risk management recommendations to help prevent ransomware attacks. “In around 80% of ransomware incidents, losses could have been...
Are Public, Private Partnerships the Answer to Cybersecurity’s Risk Management Problem?
Oct 13 2021 // Powered by InsuranceJournal.tv The Biden Administration is increasingly prioritizing growing ransomware threats as a risk management problem, according to guests on the latest episode of The Insuring Cyber Podcast. This...
Munich Re’s Venture Arm Raises $500M for Fund Focused on Insurtech, Cybersecurity
Oct 13 2021 // Munich Re Ventures, the venture capital arm of Munich Re Group, has closed its new $500 million investment fund, with plans to focus, in part, on insurtech and cybersecurity. The new financing arm, dubbed Munich Re Fund...
U.S. Property Insurers Could be Facing $12.5B in Hidden Cyber Losses
Oct 12 2021 // The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by...
Government Can and Should Help Reduce Cyber-Security Risks: ITC Highlights
Oct 12 2021 // It’s no secret that cyber insurance rates keep rising into the stratosphere. But the U.S. government can take specific actions to help reduce risk and stabilize the market, a former federal official and industry CEO...
People Moves: TigerRisk Names Harbor Hill Solutions’ Kilduff to Head MGA Business; AXA XL Insurance Promotes Gittler to Lead Cyber & Technology, Americas
Oct 11 2021 // TigerRisk Names Former Harbor Hill Solutions CEO Kilduff to Head MGA Unit TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced the appointment of Jim Kilduff to head up the company’s...
Aon Launches ‘Ransomware Defence’ to Address Cyber Insurability Challenges
Oct 8 2021 // Insurer Aon plc announced the launch of a new offering aimed at increasing the resilience of businesses in the UK and the Europe, Middle East, and Africa (EMEA) region, by addressing cyber insurability...
Kansas County Pays More Than $70K to End Cyberattack
Oct 7 2021 // A northeast Kansas county paid more than $70,000 to end a cyberattack that crippled its computer systems for about two weeks. Pottawatomie County administrator Chad Kinsley said the attackers had demanded more than $1...
Cybersecurity Weak for Many Kansas School Districts, Audit Finds
Oct 7 2021 // Many Kansas school districts aren’t taking basic steps to protect their computer systems and the privacy of sensitive information collected about students, according to a legislative audit release. The report from...
U.S. to Require Cyber Disclosure, Security Plans From ‘High Risk’ Air, Rail Companies
Oct 7 2021 // The Transportation Security Administration will introduce regulations that compel the most important U.S. railroad and airport operators to improve their cybersecurity procedures, Homeland Security Secretary Alejandro...
