LONDON – Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty payouts. Faced with increased demand, major European and U.S. …
Commercial insurance prices in general should stabilize in 2022, although not in cyber where increases from 50% to as much as 150% could be in store, according to one brokerage’s predictions Willis Towers Watson also said in a report that …
The idea that cyber criminals only target large companies with a wide footprint and more assets is “profoundly wrong,” experts say, as cyber attacks are becoming a growing threat for small and medium-sized firms. “A lot of them think, ‘Well, …
The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance Commissioners (NAIC). According to the NAIC’s 2020 Cyber …
Insurance premium rates are likely to continue to climb in Europe, the Middle East and Africa in 2022, but probably at a slower clip, the chief executive of AIG Europe said at the Reuters Future of Insurance Europe conference on …
Growing ransomware attacks aren’t the only issue concerning the cybersecurity industry today, according to experts on this episode of The Insuring Cyber Podcast. Another concern within the cybersecurity workforce is the gender gap. “I do believe that whatever we have …
Global commercial insurance prices increased 15% in the third quarter of 2021, which was the same rate of increase recorded in the previous quarter, according to the Global Insurance Market Index released by insurance broker Marsh. While this is the …
Insurance broker Aon and cyber security specialist Cybereason announced an alliance to help protect clients from sophisticated cyber attacks. Cybereason’s Cyber Defence Platform, together with Aon’s Cyber Solutions, will enable clients to better prevent, detect and respond to cyber threats …
Cowbell Cyber, an AI-powered cyber insurance provider for small to medium enterprises, announced a strategic partnership with Palomar Excess & Surplus Insurance Co. to expand its offerings on a non-admitted basis nationwide. The multi-year agreement with Palomar, backed by AM …
Lockton, the privately-owned independent insurance broker, has launched its Silent Cyber Property Solution, a standalone policy that covers businesses against property damage and ensuing time element losses resulting from cyber-attacks or cyber terrorism. The broad-form policy is unique in the …
