Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Oil & Gas Industry Faces More Frequent & Sophisticated Cyber Attacks: Deloitte
Jun 27 2017 // Three out of four oil and natural gas companies fell victim to at least one cyber attack last year as hacking efforts against the industry become more frequent and sophisticated. That’s the finding from a report...
Cheaper Cyber Insurance in the Works for Apple, Cisco Customers
Jun 27 2017 // Apple Inc. is working with Cisco Systems Inc. to help businesses that primarily use gear from both companies to get a discount on cyber-security insurance premiums, Apple Chief Executive Officer Tim Cook said on...
In Biggest Data Breach Settlement Yet, Anthem to Pay $115 Million
Jun 26 2017 // Anthem Inc., the largest U.S. health insurance company, has agreed to settle litigation over hacking in 2015 that compromised about 79 million people’s personal information for $115 million, which lawyers said would...
Cyber Insurance Premium Volume Grew 35% to $1.3 Billion in 2016
Jun 23 2017 // Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest cyber insurance writers...
U.S. Firms Issue Principles for Cyber Risk Ratings Used by Insurers
Jun 21 2017 // More than two dozen U.S. companies, including several big banks, have teamed up to establish shared principles that would allow them to better understand their cyber security ratings and to challenge them if necessary, the...
Hackers Target Canada Miners, Casinos, Demanding Bitcoin Ransoms: FireEye
Jun 19 2017 // The same hacker targeting Canadian casinos and mining companies for extortion since 2013 is planning more attacks, researchers at cyber security company FireEye Inc said in a report on Friday. FireEye said it believes that...
Why the WannaCry Breach Brings Good News
Jun 19 2017 // Don’t cry over spilled milk, in fact maybe it will teach you to hold the carton tighter. A lesson well learned. This is why, despite the harsh headlines, the ransomware attack that struck the world in May, WannaCry,...
British Insurer Aviva to Launch Small Business Cyber Product
Jun 16 2017 // British insurer Aviva plans to launch a new product to cover small and medium-sized businesses against cyber attacks later this year as part of an expansion of its specialist insurance division, its chief executive for UK...
Utilities Warned of ‘Easy-to-Use’ Malware Aimed at Causing Outages
Jun 13 2017 // Two cyber security firms have uncovered malicious software that they believe caused a December 2016 Ukraine power outage, they said on Monday, warning the malware could be easily modified to harm critical infrastructure...
Shipping Losses Fall to Lowest in 10 Years as Technology Drives Safety
Jun 13 2017 // Large shipping losses have declined by 50 percent over the past decade and last year saw the lowest number of losses in the past 10 years. The favorable loss trend has been largely driven by improved safety, according to...
Texas Insurance Council Symposium to Address Cyber Threats
Jun 6 2017 // The Insurance Council of Texas and the Association of Fire and Casualty Companies in Texas’ Annual Mid-Year Symposium will feature a panel discussion on cybersecurity, the growing cyber market for insurers, and the...
Consumer Specialties Adds Crisis Management/Cyber Endorsement to CGL Policy
Jun 5 2017 // Consumer Specialties Insurance Company (CSI), a risk retention group serving the specialty consumer products industry, has added a crisis management/cyber risk endorsement to its commercial general liability policy. The...
Cyber Liability Sales Show More Growth, Price Stability: Report
Jun 5 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...
4 Takeaways for Agencies to Do in 4 Months
Jun 5 2017 // Where does the time go? Four months into 2017, here are four industry observations and four action items every insurance agency principal can take before the next four months pass. The Industry 1. Merger and acquisition...
Ransomware Risk: 4 Questions to Ask to Optimize Cyber Insurance
Jun 5 2017 // Following the “WannaCry” ransomware cyberattack in at least 140 countries, insurers, brokers and cyber risk management specialists are working with businesses to report claims, improve and expand existing cyber...
Designing D&O Coverage for a Growth Environment
Jun 5 2017 // There is a seemingly ever-growing legal threat being faced by corporate executives, fueled by the multitude of entry points with which risks can penetrate and give rise to a severe loss. Whether a board is faced with...
Cyber Criminals or State-Backed Hackers? It’s Getting Harder to Tell…
Jun 2 2017 // Veteran espionage researcher Jon DiMaggio was hot on the trail three months ago of what on the face of it looked like a menacing new industrial espionage attack by Russian cyber spies. All the hallmarks were there:...
China Initiates Tough Cyber Law, Despite Resistance from Foreign Businesses
Jun 1 2017 // China ushered in a tough new cyber security law on Thursday, following years of fierce debate around the controversial legislation that many foreign business groups fear will hit their ability to operate in the...
China’s Controversial Cyber Law ‘Not Targeting’ Foreign Firms
May 31 2017 // China’s top cyber authority said on Wednesday it is not targeting foreign firms with a controversial national cyber law set to come into effect on Thursday. More than 50 overseas companies and business groups have...
Why 27% of U.S. Firms Have No Plans to Buy Cyber Insurance
May 31 2017 // A full 50 percent of U.S. firms do not have cyber risk insurance and 27 percent of U.S. executives say their firms have no plans to take out cyber insurance, even though 61 percent of them expect cyber breaches to increase...
