There was $590 million in suspicious activity related to ransomware in the first six months of 2021, exceeding the entire amount in 2020, when $416 million was reported, according to a report released Friday by the U.S. Treasury Department’s Financial …
Kemper Insurance has proposed to settle a class action stemming from two data breaches in a deal valued at about $17.6 million. The dual breaches could have compromised the personal information of an estimated 6.1 million customers and employees. The …
Right after closing its Series A financing round, Boxx Insurance Inc. announced its expansion to the U.S. and its appointment of Hilario Itriago as Boxx USA president. The digital managing general agency promises that its cyber insurance products make it …
During the COVID-19 crisis, global cyber attacks skyrocketed in a digital pandemic driven by ransomware, according to a report published by Allianz Global Corporate & Specialty (AGCS). Further, the report noted, business interruption and restoration costs are the main causes …
Allianz Global Corporate & Specialty (AGCS) has published a checklist of cyber risk management recommendations to help prevent ransomware attacks. “In around 80% of ransomware incidents, losses could have been avoided if the organizations had followed best practices. Regular patching, …
The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by CyberCube, AM Best and Aon found that …
It’s no secret that cyber insurance rates keep rising into the stratosphere. But the U.S. government can take specific actions to help reduce risk and stabilize the market, a former federal official and industry CEO argued separately at ITC Vegas …
TigerRisk Names Former Harbor Hill Solutions CEO Kilduff to Head MGA Unit TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced the appointment of Jim Kilduff to head up the company’s managing general agents (MGA) business. Kilduff has 17 years …
Insurer Aon plc announced the launch of a new offering aimed at increasing the resilience of businesses in the UK and the Europe, Middle East, and Africa (EMEA) region, by addressing cyber insurability challenges. “Ransomware Defence” brings Aon’s cyber security …
Coalition, a San Francisco-based cyber insurance and security company, has acquired Attune, a digital agency with a platform focused on commercial insurance. With the acquisition, Coalition maintains it will be the world’s largest commercial insurtech provider, with more than 130,000 …
