New York State Department of Financial Services (DFS) Superintendent Linda Lacewell spoke with Elizabeth Blosfield during the most recent episode of the Insuring Cyber Podcast about how she has always seen New York as a leader in cybersecurity and innovation. …
U.S. energy companies are scrambling to buy more cyber insurance after this month’s attack on Colonial Pipeline disrupted the U.S. fuel supply, but they can expect to pay more as cyber insurers plan to hike rates following a slew of …
U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings. Fitch predicts that immediate improvement is unlikely this year from these actions and …
A research arm of Congress is studying the costs of cyber attacks on the U.S. infrastructure and whether the backup provided by the federal Terrorism Risk Insurance Program (TRIP) is adequate for cyberterrorism events. The General Accountability Office (GAO) said …
Nearly 75% of respondents in a recent survey from the Coalition Against Insurance Fraud and Shift Technology said they believe that among relevant technology, artificial intelligence (A.I.) will have the greatest impact on claims and fraud detection over the next …
CNA Financial Corp., among the largest insurance companies in the U.S., paid $40 million in late March to regain control of its network after a ransomware attack, according to people with knowledge of the attack. The Chicago-based company paid the …
Here is what AM Best, Fitch Ratings and CyberCube think about the recent ransomware attack that shut down Colonial Pipeline: AM Best: Spotlight on Cyber Insurance The ransomware attack on one of the largest pipelines in the United States highlights …
The ransomware attack on Colonial Pipeline Co. that caused gasoline shortages along the U.S. East Coast also sparked a debate about whether cyber insurance helps protect against marauders — or attracts them. Some cyber-security experts say hackers target companies that …
The U.S. government’s fight to choke off ransom payments collected by hackers hit a major snag Thursday, following news that Colonial Pipeline Co. paid a hefty sum to hackers who for several days this week effectively shut down the country’s …
Colonial Pipeline has cyber insurance arranged by broker Aon, with Lloyd’s of London insurers AXA XL and Beazley among the underwriters, three sources told Reuters on Thursday. Colonial Pipeline has begun to restart the nation’s largest fuel pipeline network after …
