Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Brit Ltd. Enhances Physical Damage Cyber Offering, Increasing Flexibility and Limits
Apr 26 2019 // Brit Ltd., the London-based specialty insurer and reinsurer, announced it has increased the flexibility and limits of Brit Cyber Attack Plus (BCAP), a cyber product designed to protect clients from the impact of physical...
How a Business Can Move from Novice to Expert in Cyber Defense Best Practices
Apr 24 2019 // Sixty-one percent of firms surveyed for insurer Hiscox had a cyber attack in the past year, compared to 45% in 2018. Meanwhile, the median cost for cyber incidents losses soared from $229,000 to $369,000. While those...
Government, Businesses Must Work Together to Safeguard Internet: British Spy Chief
Apr 24 2019 // The head of Britain’s GCHQ spy agency on Wednesday will call on businesses and the finance sector to work with intelligence officials to help secure the internet and protect customers online. In extracts of a speech...
Class Action Defense Costs Rising; Wave of Cyber Actions Predicted
Apr 22 2019 // The overall cost to large businesses of defending against class action lawsuits continues to rise even as the number of companies sued falls. This is happening because more companies being sued are facing multiple suits...
Cyber Insurance Demand, Supply, Awareness Continue to Grow: Marsh
Apr 17 2019 // The message about the need to take cyber risk and insurance seriously is getting through to companies and boardrooms. “As risk awareness has grown, more organizations, particularly those focused on their business...
So You Comply with New York Reg. 500: Now What?
Apr 17 2019 // In March of 2017, the New York Department of Financial Services (DFS) implemented 23 NYCRR §500 (NY Reg. 500). In doing so, it became the first state regulatory authority to impose regulations that address cybersecurity...
Digital or Plastic? Or Both? States Experiment with Driver’s Licenses
Apr 17 2019 // Millions of people may be able to show their smartphones rather than a plastic card to prove they’re legit to drive, vote or buy a beer in coming years. Louisiana in July became the first state to make digital...
Yahoo Data Breach Settlement Revised to $117.5 Million
Apr 10 2019 // Yahoo has struck a revised $117.5 million settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history. The proposed class-action settlement made...
When Cyber Attack Hit Norsk Hydro, It Was Already Handling a Major Upheaval: RMS
Apr 9 2019 // When Norsk Hydro, one of the world’s largest aluminum producers, was hit by a major cyber attack in the early hours of March 19, it was already undergoing a major upheaval: just the day before the attack, the...
FERMA Criticizes Cyber Insurance Guidelines Proposed by Int’l Standards Organization
Apr 8 2019 // The Federation of European Risk Management Associations (FERMA) is concerned about proposed cyber insurance guidelines being developed by the International Organization for Standardization (ISO), calling them...
Bayer Detects and Covertly Monitors Cyber Attack – Before It Removes Threat
Apr 4 2019 // German drugmaker Bayer has contained a cyber attack it believes was hatched in China, the company said, highlighting the risk of data theft and disruption faced by big business. Bayer found the infectious software on its...
Mercury Insurance Expands Cyber Coverage to Georgia Homeowners, Renters
Apr 4 2019 // Mercury Insurance has launched a home cyber protection offering for homeowners and renters in Georgia. The new coverage will provide Mercury policyholders with cyber insurance protection that includes payment and security...
Corvus Insurance Opens Location in Dallas, Hires Wagner as VP, Cyber Underwriting
Apr 2 2019 // Boston-based Corvus Insurance, an artificial intelligence (AI)-driven insurtech company offering Smart Commercial Insurance policies, has opened an office in Dallas and hired Greg Wagner as vice president of Cyber...
Beazley Adds Products to Broker E-Trading Platform for UK Businesses
Apr 2 2019 // Beazley has added two new product lines to broker e-trading platform myBeazley to meet the needs of UK-domiciled private businesses with a turnover of up to £350 million (US$457.8 million). UK brokers can now access...
Tokio Marine HCC Acquires Cyber Specialist NAS in California
Apr 1 2019 // Tokio Marine HCC has acquired in Encino, Calif.-based NAS Insurance Services LLC. Terms of the deal were not disclosed. The acquisition of NAS represents the continuance of a partnership between NAS and the Tokio Marine...
AIG Names Baich, Formerly with Wells Fargo and NSA, as Information Security Officer
Apr 1 2019 // American International Group announced that Rich Baich will join the company as senior vice president, chief information security officer, effective April 22. In this role, Baich will lead the firm’s global...
Sayata Labs Raises $6.5M for Cyber Risk Underwriting Service
Mar 28 2019 // Tel Aviv-based Sayata Labs has raised $6.5 million in seed funding for its cybersecurity and data science capabilities that give insurers and brokers the ability to assess the cyber risk of small and medium sized...
N.Y. Cyber Reg: A Third-Party Service Provider Compliance Framework
Mar 27 2019 // This writing presents a framework that if adopted by insurance agencies and carriers could simplify and minimize the cost of complying with the New York Department of Finance Regulation 23 NYCRR Section 500.11...
Report Finds Rise in State-Sponsored Cyber Attacks on Financial Firms
Mar 27 2019 // Cyber attacks on financial institutions are increasingly being linked to nation-states, resulting in destructive and disruptive damages rather than just theft, according to a report by the Carnegie Endowment for...
Marsh Partners with Insurers on Program to Help Firms Pick Best Cybersecurity Products
Mar 27 2019 // What the insurance industry has done for auto and building safety products, insurance broker Marsh wants to extend to cybersecurity products. That is, recommend the cybersecurity products that are the most effective. The...
