Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Cyber Prices Drop, While Demand, Supply, Awareness Continue to Grow: Marsh
May 20 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...
What to Know About Cyber Defense Best Practices
May 20 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...
Eight Days After Cyberattack, Baltimore’s Network Still Hobbled
May 17 2019 // More than a week after a cyberattack hobbled Baltimore’s computer network, city officials said Wednesday they can’t predict when its overall system will be up and running and continued to give only the broadest...
Beazley Launches Affirmative Marine Cyber Cover
May 15 2019 // Specialist insurer Beazley has created a marine cyber insurance product to meet the rapidly developing needs of vessel owners and operators. Should a cyber incident impact a vessel’s operational capabilities,...
Cyber Insurance Growth Slowed in Reaching $2 Billion in 2018, Says Fitch
May 15 2019 // The cyber insurance market remains a source of growth for U.S. property/casualty insurers; however, that growth is slowing, according to Fitch Ratings. The industry’s total direct written cyber premiums grew 8% in...
G7 Countries Will Simulate Major Cross-Border Cyber Attack on Financial Sector
May 13 2019 // Leading Western industrial powers will for the first time jointly simulate a major cross-border cyber-security attack on the financial sector next month, French officials said on Friday. The exercise, organized by the...
Warning: Cyber Will Soon Cost Insurers More Than Natural Disasters
May 12 2019 // Cyber risks will soon become bigger risks than natural catastrophes for the insurance sector, Scor Chairman and Chief Executive Officer Denis Kessler said, recommending the industry build a comprehensive, common global...
Cyber Security, Insurance Firm Coalition Raises $40 Million
May 9 2019 // Coalition, a San Francisco-based cyber insurance agency for small and midsize businesses, said it has closed a $40 million funding round. Ribbit Capital led the investment with participation from Greenoaks Capital and...
CNA Hardy Enhances Cyber Proposition for UK Clients
May 9 2019 // CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced significant enhancements to its cyber proposition with a new pre-breach service and additional...
Hackers Steal 7,000 Bitcoins Worth $40M from Cryptocurrency Exchange Binance
May 8 2019 // Binance, one of the world’s largest cryptocurrency exchanges, said hackers withdrew 7,000 Bitcoins worth about $40 million via a single transaction in a “large scale security breach,” the latest in a long...
Risk Managers Report Lowest Level of Risk Readiness in 12 Years: Aon
May 6 2019 // Survey Ranks Economic Slowdown, Reputation/Brand as Top Concerns Economic and global trade concerns are challenging organizations’ ability to invest adequately in preparing for and protecting the continuity of their...
Cybersecurity Costing Large Financial Firms $3,000 Per Employee: Survey
May 2 2019 // Big banks and other financial firms spend as much as $3,000 per employee to defend computer networks from cyber criminals, a survey found, as the industry remains the primary target of such attacks. That would translate to...
Losses from Cryptocurrency Thefts, Fraud Surged to $1.2 Billion in Q1: Report
May 1 2019 // Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, cyber-security firm CipherTrace...
Risk Managers Reminded of Strategies for Coping with Disasters in Their Many Forms
May 1 2019 // Preparing for the unthinkable requires a lot thought. Risk management professionals this week cautioned audiences of the myriad pitfalls in planning for catastrophes during the Risk & Insurance Management...
Corvus Opens Atlanta Office, Hires Fehrman as VP of Cyber Underwriting
May 1 2019 // Corvus Insurance has opened an office in Atlanta, its fifth office location, and hired Joel Fehrman, who will serve as vice president of Cyber Underwriting based in the new office. Fehrman joins Corvus with more than 10...
University Of Alaska Reaching out to People Hit by Data Breach
Apr 30 2019 // The University of Alaska is attempting to contact people who may have been affected by a computer data breach. The Daily News-Miner reported Sunday that hacking between January and February 2018 may have compromised email...
Arch Insurance (UK) Launches Cyber Product for Small and Medium Sized Businesses
Apr 30 2019 // Arch Insurance (UK) Ltd., the London-based subsidiary of Arch Insurance International, is set to enter the cyber insurance market with a new product focused on the needs of small and medium enterprise (SME) clients and...
Norsk Hydro Cyber Attack Cost It Nearly $52M in First Quarter
Apr 30 2019 // Norsk Hydro said the March cyber attack that paralyzed its computer networks would cost the aluminum maker up to 450 million Norwegian crowns ($52 million) in the first quarter. The Oslo-based firm, one of the...
Risk Managers Rank Economic Slowdown, Damage to Reputation as Top 2 Risks: Aon
Apr 29 2019 // Economic and global trade concerns are challenging organizations’ ability to invest adequately in preparing for and protecting the continuity of their operations, according to findings from Aon’s 2019 Global...
Coalition Launches Cyber Coverage for Healthcare Companies
Apr 26 2019 // Coalition, a cyber insurance company for small and midsize businesses, has launched comprehensive coverage for healthcare companies. The healthcare-specific policy is designed to fully addresses the risk healthcare...
