The New York State Department of Financial Services (DFS) has proposed cybersecurity regulation for financial services companies that aims to protect New York state’s financial services industry from an increasing risk of cyber attacks, Governor Andrew Cuomo announced. The proposed …
Allianz Global Corporate & Specialty (AGCS) has introduced its next generation cyber and professional liability coverage product called ACCEPT Protect designed exclusively for the North American market. The new product offers a streamlined form structure with flexible terms and offers …
The property/casualty insurance industry must change its approach to cyber security and update its coverage approach to help minimize risks, according to a network security expert. “I don’t think we can easily separate cyber risk and property/casualty risk anymore,” FireEye …
Specialist lines underwriting agency, CFC, has extended its cyber product suite with the launch of a new policy developed specifically for U.S. healthcare providers. According to CFC’s Cyber Practice Leader, Vicky Paxton, “Healthcare companies have arguably become the largest target …
Risk managers purchasing cyber insurance cite reputational harm, business interruption and data breach response and notification costs as the chief exposures they are trying to address. The Risk Management Society (RIMS) recently conducted its first cyber survey. The survey featured …
“You would think the first question to ask would be: Do insured parties understand the elements and limitations of coverage?” said Kevin Kalinich, speaking on cyber risk. “The real first question is: Do the insurance companies understand?” Kalinich, global practice …
Insurers doing business in New York State must tell a regulator there about efforts to prevent computer hacking, detailing the precautions taken and the personnel devoted to the task. Benjamin Lawsky, superintendent of the state Department of Financial Services, said …
Cybersecurity is likely the most important issue that the New York Department of Financial Services (DFS) will face in 2015, and perhaps for many years to come after that, New York Financial Services Superintendent Benjamin Lawsky said in a speech …
New York State Department of Financial Services (DFS) today released a report on cybersecurity in the New York insurance industry and announced a series of measures that DFS will take to help strengthen cyber hacking defenses at insurers. DFS announced …
Reinsurance specialist Guy Carpenter & Co. is launching a new cyber privacy and network protection product with Ridge Insurance Solutions Co., a new Lloyd’s managing agency led by Tom Ridge, former U.S. secretary of Homeland Security and Pennsylvania governor, as …
