A federal judge has dismissed a complaint leveled against an insurer alleging bad faith in the handling of a data breach claim but has advanced the underlying dispute of whether the insured suffered business interruption losses from the breach. Judge …
Cybersecurity concerns will likely remain a focus for startup founders in 2023, according to the recent Embroker Cyber Risk Index: Startup Edition. The report said startup founders cited cybersecurity protections as one of their three non-negotiable areas of investment for …
According to new data from Corvus Insurance, fraudulent funds transfer (FFT) continues to generate substantial losses for organizations. FFT comprised 36% of of the company’s cyber claims – an all-time high – during the third quarter of 2022. This metric …
When the Australian health insurer Medibank Private Ltd. was hit with a ransomware attack last month, it provided regular updates to its customers, including the revelation that personal information from nearly 10 million of them was exposed. It also followed …
A coalition of 40 state attorneys general has obtained two multistate settlements for $12.67 million with credit data firm Experian concerning data breaches in 2012 and 2015 that compromised the personal information of millions of consumers nationwide. The attorneys general …
Global insurance pricing continued to rise, although at a slower pace, during the third quarter, which saw commercial insurance premiums increase an average of 6%, down from 9% in Q2, according to Marsh’s Global Insurance Market Index. The biggest increases …
Health insurance company EyeMed Vision Care LLC will pay a $4.5 million penalty to New York State for violations of the state’s cybersecurity regulation that officials said exposed hundreds of thousands of consumers’ personal health data, including data concerning minors. …
In its latest update of the cyber market, broker Marsh said there are signs of improvement, with average rate increases continuing a trend of stead decline. Marsh said rate increases for cyber insurance have decelerated nearly 80% on average in …
Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an …
Resilience, the San Francisco-based cyber managing general agent, has launched an operation in London to serve the UK market. In a deal brokered by Lockton Re LLP, this expansion is backed by a capacity agreement with HDI Global Specialty SE, …
