cyber liability News

Burand’s Agency E&O Blog: Tip #43

Offering Cyber Liability. Almost without exception all businesses need cyber liability coverage today and yet relatively few have this vital coverage. The exposures can be significant both from an E&O perspective and a regulatory perspective. Therefore, consider offering all business …

The Hartford Broadens Professional Liability Offerings for Tech Companies

The Hartford has enhanced its FailSafe suite of professional liability offerings to address the evolving needs of technology companies with expanded coverage for data, systems and networks. “Professional liability is one of the most significant risks for technology companies today,” …

Rockwood Programs Adds Cyber Liability to Coverage Portfolio

Rockwood Programs has added cyber liability to its portfolio of management and professional liability products. The coverage can be attached to an underlying Rockwood account as an endorsement, with a separate sub-limit. Cyber liability can also be purchased on a …

CFC Underwriting Upgrades Cyber Policy

Lloyd’s underwriting agency, CFC has made a major upgrade to its flagship cyber and privacy product policy in order to protect customers against the changing face of cyber crime and react to the constant changes in the legal and regulatory …

Hiscox Adds Crime, Data Breach, Privacy Options to PL Portfolio

Hiscox has launched phase two of their Hiscox Professional Liability Portfolio, adding two additional coverage options to the existing portfolio. Professional services firms can now add crime and data breach and privacy security liability, in addition to general liability coverage …

Idaho State University To Pay $400K For Medical Records Breach

Idaho State University is paying a $400,000 to the federal government to settle allegations it improperly exposed confidential medical records. In August 2011, ISU told the U.S. Department of Health and Human Services of a breach of its unsecured electronic …

How Banks Will Recover Funds in $45M Cyber Heist

Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based …

Missouri Bill Could Require Data Breach Notification by State Agencies

State agencies could be required to notify Missourians if personal data such as concealed gun permits and credit card numbers are accessed by someone who is not authorized to have that information. The proposal comes from Republican House member Kurt …

Hartford Steam Boiler Launches Cyber Attack Protection for Small Businesses

The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has launched HSB CyberOne, a new cyber risk insurance coverage for small businesses. The new product expands HSB’s suite of products and services designed to protect smaller …

The Risks of Insuring the Cloud

Hollywood would have us believe that some smart, awkward computer guy in his 30s living in his mother’s basement is to blame. Surrounded by a dozen computer screens with an IQ of 150, this cyber character enjoys targeting large companies …