Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
U.K. Cyber-Security Startup Tessian Raises $40M to Support U.S. Expansion
Feb 28 2019 // Sequoia Capital has backed a London-based cyber-security startup founded by a trio of former banking analysts, who were surprised how often documents such as deal-term sheets were accidentally emailed to the wrong...
PIA Makes Cyber Product Available for Agents to Sell to Small Business Clients
Feb 28 2019 // The National Association of Professional Insurance Agents (PIA National) has given its members a cyber insurance product to sell to their small and mid-sized businesses clients. PIA and ABA Insurance Services (ABAIS) have...
Congress Looks to ‘Reimagine’ Credit Reporting Industry
Feb 27 2019 // The nation’s major credit reporting agencies faced renewed scrutiny from Congress on Tuesday, as lawmakers consider legislation overhauling the industry. Top executives from the three major credit reporting agencies...
Beazley, Marsh Launch Cyber Coverage Product for Manufacturers
Feb 26 2019 // Beazley and Marsh have partnered to provide tailored cyber insurance cover and breach response for U.S. manufacturers. The new Manufacturer’s First Response, a Marsh and Beazley Breach Response (BBR) initiative,...
Investments in Insurtechs Rose in Q4 2018; Cyber Becomes a Focus
Feb 26 2019 // Sixty-three insurtech deals with a total value of $1.59 billion were announced worldwide in the fourth quarter of 2018. The number of deals was up 24 percent while the value jumped 155 percent over Q4 2017. The total,...
Financial, Reputational Costs of Cyber Attacks Can Ruin Small, Medium Firms: Chubb
Feb 22 2019 // The average price tag for a business to recover after a cyber attack is $400,000, which can be fatal for small-and-medium-sized enterprises (SMEs), according to a report published by Chubb. This hefty cost of repairing the...
‘Sextortion’ Is Emerging Cyber Risk for Businesses, Warns Beazley
Feb 21 2019 // A new form of online bribery is emerging where cyber criminals attempt to extort cryptocurrency by claiming to have potentially embarrassing evidence of people using adult websites on work computers, according to a report...
MGA Coalition Covers Firms with Cyber Exposure Under EU’s Data Privacy Law
Feb 20 2019 // Coalition, the San Francisco-based managing general agency that specializes in cyber insurance for small and mid-sized businesses, announced it is broadening coverage to include exposures to violations of the European...
Data Breach in Arizona Hits Restaurants, Hotels
Feb 20 2019 // A data breach may have compromised the personal information of customers who patronized any of 50 Arizona businesses last month. North Country Business Products says an investigation of “suspicious activity”...
China Abandons Pledge, Returns to Very Active Hacking of U.S., Report Says
Feb 19 2019 // China largely abandoned a hacking truce negotiated by Barack Obama as President Donald Trump embarked on a trade war with Beijing last year, according to the cybersecurity firm Crowdstrike Inc. A slowdown in Chinese...
Asia-Pacific SMEs Are Over-Confident About Their Cyber Preparedness: Chubb
Feb 15 2019 // A significant perception gap exists between the cyber awareness and cyber preparedness at small and medium enterprises in some Asia-Pacific countries, according to a Chubb survey titled “Too Small to Fail?” The...
Venture Programs to Offer Cyber Coverage through ProWriters Insurance
Feb 13 2019 // ProWriters Insurance has been selected as the exclusive cyber insurance provider for Venture Insurance Programs. The new strategic partnership allows Venture’s business owners in select niche industries, including...
Insurtech CoverHound Raises $58 Million to Drive Cyber Unit, Open North Carolina Office
Feb 5 2019 // Digital property/casualty insurance platform CoverHound announced it has raised a $58 million Series D funding round. Global specialist insurer Hiscox led the round, along with additional investors including Chubb, Aflac...
Crypto Exchange Founder Dies, Along with Sole Password to Access $200M
Feb 5 2019 // Digital-asset exchange Quadriga CX has a $200 million problem with no obvious solution — just the latest cautionary tale in the unregulated world of cryptocurrencies. The online startup can’t retrieve about...
Swiss Re Partners with Insurtech Firm OZON, Offering Cyber Risk Solution in France
Feb 5 2019 // Swiss Re Corporate Solutions is expanding its cyber offering by launching CyberSolution 360°, a risk management solution that combines insurance with cyber attack protection services. Developed in the exclusive...
Connecticut City Recovers About Half of Money Lost in Hacking Scheme
Feb 4 2019 // A Connecticut city says it has recovered more than half the nearly $1 million stolen from city accounts during a 2016 hacking scheme. An attorney for the city of Norwalk said Wednesday that by filing claims, complaints and...
Cyber Attack, or Act of (Cyber) War?
Feb 4 2019 // How a Small Distinction Can Nullify Insurance Coverage In June 2017, the NotPetya virus crippled many large companies including Merck and Mondelez (the manufacturer of Nabisco, Cadbury, and Toblerone). The aggregated...
Businesses View Cyber, Business Interruption as Bigger Risks Than Catastrophes
Feb 4 2019 // Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes...
Minnesota Department Reports Data Breach, up to 3K Exposed
Feb 1 2019 // The Minnesota Department of Human Services says a data breach potentially exposed personal information on up to 3,000 people. Commissioner Tony Lourey tells legislative leaders it happened Sept. 28 when an employee fell...
Cybersecurity Expert Tapped for Oklahoma’s Top Emergency Management Post
Feb 1 2019 // Oklahoma Gov. Kevin Stitt has appointed a longtime cybersecurity expert as the state’s new director of the Department of Emergency Management. Stitt announced the hiring this week of Mark Gower to lead the agency...
