Home Depot Inc., the largest U.S. home improvement retailer, on Tuesday reached a $17.5 million settlement to resolve a multistate probe into a 2014 data breach where hackers accessed payment card data belonging to 40 million customers. The settlement with …
Howden, the international insurance broker, announced it has reached an agreement to acquire Safeonline, a London-based cyber and tech specialist broker and Lloyd’s coverholder. The acquisition underlines the importance Howden places on this fast-growing product line and gives it an …
Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently. BI coverage has drawn heightened attention in recent months due to the coronavirus pandemic and its ongoing disruption …
Nearly one in four respondents (22%) out of more than 1,200 business leaders surveyed in 2020 Travelers’ Cyber Risk Index said their firm was the victim of a cyber event – the highest percentage since the annual survey began in …
The tenth year of the Zurich North America and Advisen Cyber Survey reveals that 78% of risk managers now purchase some level of cyber insurance — compared to only 34% in 2011. Of this record of 78% with some cyber …
INSTANDA, the customer and policy management platform for the insurance industry, has launched its first African insurance market product on its platform with newly onboarded client, Standard Bank South Africa. INSTANDA said it has worked closely with Standard Bank Insurance …
The U.S. Treasury Department is warning that individuals or businesses that help facilitate ransomware payments may be violating anti-money laundering and sanctions regulations. The warnings came in a pair of advisories, one from the Financial Crimes Enforcement Network (FinCEN) and …
Allianz Global Corporate & Specialty (AGCS) has made several hires to strengthen its cyber insurance underwriting team: Tresa Stephens as regional product leader; Josh Navarro, executive underwriter; and Ed Lee, underwriting specialist. Based in New York, Stephens will lead the …
Although there is a significant market correction taking place in the North American liability insurance market, demand for casualty reinsurance is increasing, said Chirag Shah, executive vice president, Casualty Reinsurance, at Willis Re. Low interest rates, economic volatility, social inflation …
This summer marks three years since the NotPetya malware attack, which has been called the most devastating cyber attack in history. While cyber experts say cybersecurity and prevention strategies have since evolved in many ways, they also warn another crippling …
