New York Regulator Issues Guidance for Insurers Writing Cyber Policies in the State February 4, 2021 By Elizabeth Blosfield The New York State Department of Financial Services (DFS) has issued new guidance spelling out best practices for New York-regulated...
Cyber Insurers Scale Back as Ransomware Attacks Rise December 17, 2020 By Noor Zainab Hussain and Carolyn Cohn Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even...
Insuring Cyber Podcast Episode 4: What to Know About Recent Ransomware Advisories December 16, 2020 By Elizabeth Blosfield As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various...
Vermont Hospital Cyber Attack Cost Estimated at $1.5M a Day December 15, 2020 A late October cyber attack on the computer systems of the University of Vermont Medical Center is costing the hospital...
As They Focus on COVID-19 Surge, Hospitals Become Targets for Cyber Attacks December 8, 2020 By Wilson Ring and Marion Renault By late morning on Oct. 28, staff at the University of Vermont Medical Center noticed the hospital’s phone system wasn’t...
Survey Finds 78% of Risk Managers Now Buying Cyber Insurance October 20, 2020 The tenth year of the Zurich North America and Advisen Cyber Survey reveals that 78% of risk managers now purchase...
G7 Leaders Vow to Combat Surging Ransomware Attacks Against Financial Services October 15, 2020 By Andrea Shalal and Jan Strupczewski Financial leaders of the world’s seven biggest economies on Tuesday vowed to fight rising ransomware attacks amid the COVID-19 pandemic,...
Weighing Effects of Treasury’s Ransomware Pay Warnings on Cyber Victims and Insurers October 15, 2020 By Andrew G. Simpson Recent warnings from the U.S. Treasury about paying ransomware demands are unlikely to substantially change how cyber insurers cover or...
U.S. Treasury Warns Cyber Insurers Against Paying Ransomware Demands October 1, 2020 By Andrew G. Simpson The U.S. Treasury Department is warning that individuals or businesses that help facilitate ransomware payments may be violating anti-money laundering...
Ex-Security Chief Martin Urges UK to Outlaw Cyber Ransoms September 18, 2020 By Kitty Donaldson Ciaran Martin, who stepped down as head of the UK’s National Cyber Security Centre this month, will call on Boris...