Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Lloyd’s Cyber War Exclusions: Confusing, Disruptive, but Necessary?
May 22 2023 // The rollout of the Lloyd’s Market Association’s (LMA) cyber war exclusions received considerable criticism for the chaos and confusion they caused leading up to their effective date on March 31. But here are...
Consistent Policy Wording Bringing Some Relief to Evolving Cyber Market
May 19 2023 // Consistency within cyber insurance policies is something the industry has been grappling with for nearly a decade, according to speakers at the annual RIMS Riskworld conference, held this year in Atlanta, but the industry...
Posing as Islamists, Russian Hackers Take Aim at Sweden
May 18 2023 // Since February, a mysterious hacker group calling itself Anonymous Sudan has targeted dozens of Swedish airports, hospitals and banks with distributed denial-of-service attacks, ostensibly in response to the burning of a...
Alleged Russian Hacker Charged in $200 Million Ransomware Spree
May 17 2023 // A Russian man was charged by US authorities in connection with his alleged role with multiple ransomware gangs that attacked hospitals, schools and police departments. Mikhail Pavlovich Matveev, who was known online as...
Hackers Contacted Cybersecurity Firm CEO’s Son, Wife in Extortion Attempt
May 17 2023 // Hackers stole contracts from cybersecurity firm Dragos Inc. as part of an extortion attempt that included contacting the chief executive officer’s wife and 5-year-old son, according to a company blog post, documents...
Top Cyber Insurers: 2022 Ranking Reveals Sprinters, Market Share Shifts
May 17 2023 // In a year when cyber insurers notched the third-lowest industrywide loss ratio since 2015, and cyber premiums vaulted to $7.2 billion, a premium ranking shows two carriers growing more than 150% to landing in prominent...
Low-Tech Cyber Attacks Took Advantage of Fixable Vulnerabilities in 2022: Coalition
May 16 2023 // Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders in 2022, according to a new report from...
Cyber Attack Disrupts Philadelphia Inquirer
May 16 2023 // The Philadelphia Inquirer experienced the most significant disruption to its operations in 27 years due to what the newspaper calls a cyberattack. The company was working to restore print operations after a cyber incursion...
Clients Buy Higher Limits as Q1 Cyber Increases Follow Moderation Trend: Marsh
May 15 2023 // For the fifth straight quarter, pricing increases for cyber insurance continued to fall at the start of 2023. According to a new U.S. Cyber Purchasing Trends report from broker Marsh, prices were up 11% in first quarter...
Posing as Islamists, Russian Hackers Take Aim at Sweden
May 15 2023 // Since February, a mysterious hacker group calling itself Anonymous Sudan has targeted dozens of Swedish airports, hospitals and banks with distributed denial-of-service attacks, ostensibly in response to the burning of a...
EU Weighs Cyber Plan Aimed at Keeping Cloud Data in Europe
May 15 2023 // The European Union is weighing a plan that would require cloud providers to store all of their data within the bloc in order to qualify for its highest cybersecurity certification. ENISA, the EU’s cybersecurity...
Hackers Aim to Find Flaws in AI
May 12 2023 // No sooner did ChatGPT get unleashed than hackers started “jailbreaking” the artificial intelligence chatbot – trying to override its safeguards so it could blurt out something unhinged or obscene. But now...
People Moves: CFC Grabs Phillips From Resilience to Lead Cyber Practice
May 11 2023 // Specialty insurance provider CFC announced today it has appointed Michael Phillips as Cyber Practice Leader. In this newly created role based out of New York, Michael will drive CFC’s cyber underwriting strategy and...
Cyber Hack to Cost UK Outsourcer Capita Up to $25M
May 10 2023 // British outsourcing company Capita warned it would take a 15 million pound to 20 million pound ($25 million) hit after its systems were hacked in a cyber incident earlier this year. Capita, which provides business support...
FERMA: Appeal of Cyber Insurance May Weaken Without ‘Concerted Dialogue’
May 10 2023 // The Federation of European Risk Management Associations (FERMA) said it has concerns that the cyber insurance market is “evolving in isolation from the industries which it insurers,” and is calling for more...
AI, Ransomware, Tech Burnout Biggest Takeaways from RIMS’ Riskworld
May 10 2023 // Powered by InsuranceJournal.tv The 2023 RIMS’ Riskworld conference took place last week in Atlanta, and on this episode of The Insuring Cyber Podcast, two guests shared the biggest takeaways from the conference this...
People Moves: Coalition Hires Coletti From Swiss Re to Be Head of Cyber Underwriting
May 9 2023 // John Coletti, an cyber insurance veteran who was formerly the head of cyber reinsurance at Swiss Re, has been hired by Coalition as it head of cyber underwriting. At Swiss Re, Coletti was the head of global cyber,...
People Moves: BHSI Promotes Browne, Holmes to Global U/W Posts; AXA XL Bolsters Energy Team With 3 Hires; MGA Alta Signa Names Marongiu Technical Head of Cyber U/W
May 9 2023 // This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), AXA XL, and the MGA Alta Signa Europe. A summary of these new hires follows here. BHSI Promotes Browne,...
Lloyd’s Cyber War Exclusions: Confusing, Disruptive, but Necessary?
May 9 2023 // The rollout of the Lloyd’s cyber war exclusions has received considerable criticism for the chaos and confusion caused in the weeks leading up to the March 31st effective date. But there are some certainties to keep...
Ex-Uber Security Chief Gets No Prison Time for Hack Coverup
May 8 2023 // Uber Technologies Inc.’s former security chief was spared from prison for concealing a massive data breach in 2016. Joe Sullivan’s sentencing to three years of probation Thursday followed his conviction by a...
