Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
South Carolina Insurer Data Security Law Should Be Nationwide Role Model
Sep 5 2018 // In October 2017, the National Association of Insurance Commissioners (NAIC) adopted the Insurance Data Security Model Bill, also known as the NAIC “Model Law.” NAIC’s Model Law seeks to establish a...
AIR Worldwide and Capsicum Re Collaborate to Enhance Silent Cyber Models
Sep 4 2018 // Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with reinsurance broker Capsicum Re to enhance the insurance industry’s modeling of what many refer to as “silent” cyber...
Aon Promotes Mulligan to Head of Cyber, Foord-Kelcey to Head of Cyber Innovation
Sep 4 2018 // Aon plc has promoted Catherine Mulligan and Luke Foord-Kelcey within its Reinsurance Solutions business to strengthen its suite of cyber products for insurers. As global head of Cyber for Aon’s Reinsurance Solutions...
Tokio Marine Names Barn from Munich Re as Global Head of Cyber Risk
Sep 4 2018 // Leading international insurance group Tokio Marine Holdings (TMH) has appointed Daljitt Barn to the newly created post of global head of cyber risk. Barn, who will be based in London, joins from Munich Re and is an...
15 Emerging Risks Worth Watching That Are Not Cyber
Sep 3 2018 // When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some...
As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.
Sep 3 2018 // Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study...
The E-merging Risk that Keeps on E-volving: Cyber
Sep 3 2018 // 6 Reasons Cyber Remains Top Emerging Risk Property/casualty insurance experts may not agree on everything but there is a consensus that the most important emerging risk for the industry remains the five-letter word: CYBER....
Hong Kong Seeking Talent in Marine Insurance, Cyber Security, Actuarial Science, etc.
Aug 30 2018 // If you’re a waste treatment specialist, actuary or naval architect, Hong Kong wants you. The government this week unveiled a talent list to attract skilled workers in 11 professions that the city is seen as needing...
SLTX: Houston City Council to Buy $30M in Cyber Insurance Coverage
Aug 29 2018 // The Houston City Council voted unanimously to purchase $30 million in cyber insurance coverage at a total premium cost of $471,000. The policy provides first-party coverage for the city’s operations, third-party...
Lloyd’s Provides Insurance for Cryptocurrency Storage
Aug 28 2018 // Kingdom Trust, a company that stores digital currency for investors, has secured insurance coverage through Lloyd’s of London to protect against theft and destruction of those assets, the company said on Tuesday. The...
Australia Bans China’s Huawei from Supplying Mobile Equipment, Citing Hacking Risks
Aug 23 2018 // Australia has banned Chinese telecoms firm Huawei Technologies Co Ltd. from supplying equipment for a 5G mobile network, citing risks of foreign interference and hacking which Beijing dismissed as an “excuse”...
Swiss Re’s DePiero Joins Sompo Pro’s U.S. Cyber Practice
Aug 20 2018 // Richard DePiero has joined Sompo Pro, the U.S. professional liability insurer unit of Sompo International, as senior vice president, U.S. Cyber Product leader. DePiero will be responsible for Sompo Pro’s U.S. cyber...
As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.
Aug 20 2018 // Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study...
Third Compliance Date Approaching for New York Cybersecurity Regulation
Aug 20 2018 // The third transitional period for New York’s first-in-the-nation cybersecurity regulation for all Department of Financial Services (DFS) regulated entities ends on Sept. 4, 2018. Beginning on Sept. 4, banks,...
FBI: Lower Mississippi River Ports, South Louisiana Vulnerable to Cyber Threats
Aug 16 2018 // Giant cranes loading and unloading gargantuan barges. Oil tankers, supply vessels and pipelines serving a vital energy industry. Flood control structures. Chemical plants. Cruise ships. Drinking water sources. All...
Banks on Alert After FBI Warning of Cyber Attacks on ATMs
Aug 16 2018 // Banks are on alert for new attacks targeting cash in ATMs after the Federal Bureau of Investigation warned U.S. lenders last week of a potential threat. “The FBI routinely advises private industry of various...
Capsicum Re’s Cyber Team Taps Paragon’s Goring as Broker, BMS’ Naidu as Wordings Director
Aug 15 2018 // Capsicum Re, the London-based specialist reinsurance broker, announced two new hires to its cyber division. Jasper Goring joins as a cyber broker and Prab Naidu was appointed as wordings director, both with immediate...
Cyber Criminals Steal $13.5M from India’s Cosmos Bank
Aug 15 2018 // Cyber criminals hacked the systems of India’s Cosmos Bank and siphoned off nearly 944 million rupees ($13.5 million) through simultaneous withdrawals across 28 countries over the weekend, the bank has told...
Hackers Could Target Fax Machines as Backdoor into an Organization’s Network
Aug 14 2018 // What could be less threatening than the old office fax machine? Nothing. That’s precisely why it’s used as a backdoor for hackers to get into an organization’s network. Check Point, a cyber security firm...
Chubb Appoints Nazir from Aspen as Cyber Underwriting Manager, UK & Ireland
Aug 13 2018 // Chubb announced the appointment of Raheila Nazir as cyber underwriting manager for the UK and Ireland. In this role, Nazir will have responsibility for the leadership and direction of Chubb’s UK&I Cyber...
