The cyberattack on MGM Resorts in September 2023 provides a vivid example of the effects these types of attacks can have in today’s complex and interconnected IT environments. MGM estimates the incident-related costs at upwards of $100 million, after the …
AmWINS Group, Inc., a global distributor of specialty insurance products and services, has launched a new product designed to protect insureds against social engineering losses while also providing education and risk mitigation services. Losses covered under the new product can …
In a closely-watched case on insurance coverage in an age of expanding cyber risk, a federal appeals court in New York has upheld a lower court ruling that a commercial crime insurance policy covers wire transfer losses resulting from a …
Beazley has launched a new excess policy for the U.S. market that significantly expands the protection available to firms that fall victim to impersonation scams by fraudsters convincing employees to wire funds to external accounts. According to Beazley, this and …
