Cyber Security & Data Privacy
Articles
Cyber security – Implications for the insurance industry
Hybrid Cyber Insurance ticks all the InsurTech boxes
Cyber crime is changing insurers’ approach to risk management The thing about cyber insurance is that it’s a new and totally unpredictable risk. And it’s a risk that cant...
Cyber insurance: An opportunity to lead in a growing market
Cyber attacks are on the rise. Hackers are increasingly looking to take advantage of security vulnerabilities to steal valuable customer data, including financial details and ...
Cybersecurity in the Insurance Call Center: They Can’t Hack What You Don’t Hold
We all know that the U.S. has a number of different data privacy regulations, like HIPPA and the Social Security Number Protection Act. But, did you know that there is no ...
Arceo.ai Launches to provide Insurance Carriers Cyber Resilience Solutions
Arceo.ai enables insurance carriers to automate and enhance their cyber insurance solutions, while simultaneously increasing the security of their enterprise clients through ...
Chubb Boosts Cyber Risk Underwriting with CyberCube Analytics Software
Chubb is partnering with a San-Francisco based cyber risk analytics vendor called CyberCube to boost its Cyber Risk Underwriting.
Capgemini & Efma: World Insurance Report 2019
Article Synopsis : Policyholders are ever more concerned that their insurance cover isn’t enough to protect against emerging risks, such as those posed by cyber attack or ...
Cisco, Apple, Aon, Allianz introduce a first in cyber risk management
Allianz, Cisco, Apple and Aon have together launched a cyber risk management solution for organizations to better manage and protect themselves from cyber risk associated wit...
Capgemini: Reinventing cybersecurity with artificial intelligence
Article Synopsis : Artificial intelligence (AI) is being applied to all kinds of services and processes in order to improve productivity, sales or customer experience. An area of...
Cyber Crime, Liability Insurance & Cyber Security-SnoopWall & Zon Re
Article Synopsis : According to the World Bank cyber crime will outpace drug crime reaching $600B in damages this year. Accordingly the Cyber Liability Insurance market is ...
Cyber insurance for enterprises: Deloitte
Article Synopsis : The growing number of cyber attacks experienced against organisations has rendered cyber insurance an imperative, according to this Deloitte paper. Benefits ...
Cyber Insurance Recent Advances, Good Practices & Challenges-ENISA
Article Synopsis : Cyber insurance was created to address risks not reasonably mitigated by security measures. In comparison with other insurance sectors, cyber insurance appears...
CISCO: The evolution of industrial cybersecurity and cyber risk
Article Synopsis : Businesses face increasing cybersecurity threats and breaches, but organisations have begun to realise that security must be part of the broader cyber risk ...
Cyber Predictions in 2019
Article Synopsis : One of the biggest growth areas in the tech sector in 2018 was cyber. Not only security, but the number of attacks, including many high profile ones. 2018 was ...
Cyber Risk Management – Response and Recovery
Article Synopsis : ‘Cyber Risk Management, Response and Recovery’ from Marsh & McLennan, in partnership with WomenCorporateDirectors (WCD), presents the most up-to-date ...
Digi.me – Enabling users to share their own data with businesses
With the increasing proliferation of data generated from connected devices, several startups are scrambling to develop platforms that allow consumers to access, manage, and s...
Cyber Risks That Hide In Plain Sight
Article Synopsis : Predictions for the aggregate global cost of cybercrime vary, but the numbers are huge. Correspondingly, the amounts companies are expected to spend to protect...
Cybersecurity and Data Privacy 2019 OUTLOOK
Article Synopsis : Some of the biggest and most complex legal questions and business risks faced by multinationals in 2018 concerned cybersecurity and data privacy. That is not a...
Data privacy: Growing expectations – and risk – for financial institutions
Article Synopsis : Governments are talking tough on consumers’ data privacy and financial institutions (FIs) should not wait for the final regs to know how to behave but should...
FMA: Strategic risk outlook 2019
Article Synopsis : New Zealand’s regulator, the Financial Markets Authority, has issued its strategic risk outlook for 2019. The report says that general insurance penetration ...
Fortifying Insurers Defences in Era of Cyberrisk – BCG Whitepaper
Article Synopsis : Managing cyberrisk is crucial for all large corporations worldwide, particularly so for insurers. Insurers must treat cyberrisk in much the same way that ...
Leveraging GDPR to Become a Trusted Data Steward
Article Synopsis : Data-driven transformation is hitting a previously hidden obstacle: a growing fear of data misuse. The EUs response to these concerns is embodied in the new ...
Large-Scale Cyber-Attacks on the Financial System
Article Synopsis : The complexity of the financial services industry, interconnectedness of individual players, and introduction of new and innovative technologies heighten the ...
XL Catlin and RedSeal Launch Cyber Insurance Industry’s First Dynamic Measure of Resilience to Gauge Risk, Improve Cybersecurity and Insu...
XL Catlin and RedSeal (network modeling and risk scoring platform) launched cyber insurance industry’s first dynamic measure of resilience which will help measure risk,...
Library: AXA – The challenges of cyber risk insurance
Executive summary: The digital transformation of our economies creates many opportunities but also generates ubiquitous cyber risks. Already in 2017, the OECD considered the ...
Library: Deloitte – Overcoming challenges to cyber insurance growth
September 2020 featured report: Cyber insurance has been held up as an area of innovation and major growth, but the reality hasn’t lived up to the hype, says Overcoming ...
Zuroovi – Cyber Insurance for small businesses
Zuroovi is one of the first platforms to focus on a relatively new niche within insurtech – cyber insurance. Specifically, Zuroovi enables small businesses to obtain cy...
Library: Fitch Ratings – Sharply Rising Cyber Insurance Claims Signal Further Risk Challenges
Executive summary : Property/Casualty (P/C) insurers that write cyber coverage face increasing profit pressure, as underwriters reported substantially higher segment claims losses ...
Library: Guidewire – Hiding in Plain Sight: Towards Now-Gen Cyber Risk
September 2021 featured report: This is a fascinating report into the quality and quantity of data that is required by cyber underwriting. The style is refreshingly informal, ...
Library: Hiscox – Cyber Readiness Report 2020
July 2020 featured report: Cyber risk is one of the biggest issues facing businesses these days. One finding of the 2020 Hiscox report into cyber risk readiness is that there has ...
Library: Insurance Thought Leadership – Cyber risk and insurance in 2022
Executive summary: The pandemic has created new cyber vulnerabilities, heightened existing risk factors and accelerated the pace at which cybercriminals wreaked havoc on even the ...
Library: SwissRe – Cyber Resilience – A vital concept in today’s world
Executive summary : Cyber risks have been an important topic for quite some time. But the COVID-19 pandemic and Russia’s invasion of Ukraine have made them even more ...
Marsh – Digital shift has broadened the cyber-attack surface
Executive summary : Whilst managing crisis it is essential to keep sight of the risks on the horizon in order to build resilience. With this in mind, the COVID-19 pandemic has ...
McKinsey: Cybersecurity – Linchpin of the digital enterprise
Executive summary Two consistent and related themes in enterprise technology have emerged in recent years, both involving rapid and dramatic change. One is the rise of the ...
ORF: Towards a Cyber-Security Roadmap for Digital Payments- Best Practices and Recommendations
Article Synopsis : The Indian government’s desire to create a US $1-trillion digital economy by 2025 is going to take some doing. To be fair, India processed some 20.7 billion ...
Staying on the right side of consumer privacy line – KPMG Report
Article Synopsis : Companies know more about their customers than ever before. As digital technologies proliferate, the line dividing ‘my’ from ‘our’ data...
Risk & opportunity in increasingly digital world – Tapestry Networks
Article Synopsis : While digital transformation is happening slower in the insurance sector than in others, the changes, as they come, are no less profound. Where boards used to ...
Taming Cyber
Article Synopsis : Identifying and quantifying Cyber risk is different from quantifying other “financial” risks. This report from Oliver Wyman shares new methods for ...
The state of insurance fraud technology: SAS
Article Synopsis : Tech budgets at insurers are on the rise, but suspected fraud has also increased for the third consecutive time in six years, says The State of Insurance Fraud...
When the going gets tough, the tough get going.
Article Synopsis : Boards of Directors are increasingly requesting from senior management a coherent articulation of the institution’s cyber risk appetite linked to business ...
Relm Insurance taps CyberCube to enhance cyber underwriting
Relm Insurance has joined forces with cyber risk analytics platform CyberCube to strengthen its cyber underwriting operations.
Cyber insurers’ appetites are shifting. Here’s what to ex...
The ongoing cyber hard market is seeing most insurers capping their risk appetite at $3-5 million worth of coverage, experts say.
Highly-digital insurance agencies grew 70% faster than co...
Digital marketing and social media tactics have slowed down.
Apollo Underwriting enters cyber market
TigerRisk acted as the adviser on the transaction.
Beazley raises $350m to target 50% higher reinsurance rat...
London headquartered specialty insurance and reinsurance firm Beazley has successfully raised £350 million in the share placing it announced last night,
Beazley raises £350m as it eyes cyber push
Beazley has raised £350m as it flagged plans to accelerate growth in cyber and specialty business.
How Canada’s D&O and cyber insurance markets are shi...
Aon reports softer market conditions in Canada’s D&O insurance market, with ample capacity and price decreases in 2023 Q3.
Elpha Secure taps CyberCube to expand in insurance-linked...
Elpha Secure has formed an alliance with CyberCube to attract capacity from providers in the insurance-linked securities (ILS) space.
What does the future of insurance for EVs look like?
With the drive towards electric vehicles, there are questions on how the transformation and newest technology will influence car insurance.
How does a cyber insurance policy cover ransomware
A good cyber insurance policy should cover ransomware incidents.
Why using a ‘digital twin’ could impact insur...
Is it possible for an insurer to help prevent damages and delays? Yes.
SMEs need to increase cyber cover as they cannot afford d...
Disruption is not a good thing for cyber cover and SMEs need to start strengthening themselves.
Acrisure Buys New York Technology Services Firm Homefield IT
Insurance broker and real estate services firm Acrisure announced that it has acquired business technology firm Homefield IT, which will become part as
Acrisure Cyber Services buys Homefield IT to enhance capa...
Acrisure Cyber Services (ACS), a unit of insurance broker Acrisure, has acquired Homefield IT for an undisclosed sum.
BOXX Insurance acquires cyber platform Templarbit
Toronto-based cyber insurance specialist BOXX Insurance has acquired cyber intelligence platform Templarbit. Terms of the deal were not disclosed, but
Overwhelming majority of cyber risks still uninsured
SMEs are particularly vulnerable, new survey uncovers
BOXX Insurance buys cyber threat intelligence venture Tem...
Canadian cyber insurtech firm BOXX Insurance has acquired American cyber threat intelligence company Templarbit for an undisclosed sum.
AXA XL adds cyber insurance to lawyer’s E&O policy
AXA XL has updated its Lawyers’ Errors & Omissions (E&O) insurance programme by adding a cyber and security insurance coverage option to it.
Generali and Crawford & Company announce cyber partn...
Global insurer Generali has partnered with Crawford & Company to provide specialist cyber incident response and loss adjusting services...
Corvus Insurance, The Travelers partner to offer cyber in...
Corvus Insurance has entered into a partnership with The Travelers Companies to support its Smart Cyber Insurance offering.
Corvus Insurance Partners with Travelers to Enter Contine...
The offering will focus on Germany and Austria, providing brokers and policyholders with localized cyber insurance tools, and the combined cyber underwriting expertise of both c...
Marsh reports easing of UK commercial pricing rises
Commercial insurance pricing in the UK rose by 7% in the third quarter, according to research by Marsh.
Generali, Crawford welcome global cyber partnership
New services cater to both corporate and SME clients
Aflac chooses Noname for API cybersecurity
Health insurer had a varied range of applications to protect
Cowbell Hosts Inaugural Cyber Insurance Day in Washington...
3 hours ago ... Attendees will gain actionable insights to improve their cybersecurity posture and decrease cyber risk. Panelists include: Cassius Butts, former regional SBA ...
New cyber attack techniques on the rise
Compromised email, ransomware continue to increase
Cyber insurers to benefit from SentinelOne’s new ri...
10 hours ago ... SentinelOne, an autonomous cybersecurity platform company, has announced the addition of ... streamlining the process of obtaining cyber insurance coverage.
Insurers address privacy breach liability risks
Chubb survey, digital insurance platform find concerns among insureds and more rules on the way
Insurers focus on ransomware, user authentication as bigg...
Progress on cybersecurity measures lowers insurance market risks and stresses.
Australia’s Hacking Frenzy Spurred by Understaffed ...
8 hours ago ... The agency is expected to show another increase when it publishes 2022 figures in the coming weeks. Australian cybersecurity insurance premiums rose by an ...
Over half of SMEs have seen their cyber insurance premium...
The majority of SME cyber insurance policyholders saw their premiums increase in 2022 amid an increased level of risk.
Medibank confirms customers’ personal data breach
Australia’s Medibank has revealed a cyber incident wherein a criminal has claimed to have possession of 200GB of the firm’s data.
Marsh reveals how much global commercial insurance rates ...
The global insurance broking giant and risk advisor Marsh has today revealed that global commercial insurance prices increased 6% in...
CyberCube launches Exposure Databases to improve cyber mo...
CyberCube has announced that it has launched the world’s first set of detailed Exposure Databases to enable re/insurers and brokers to...
CyberCube launches first exposure databases for cyber ris...
Cyber risk modelling specialist CyberCube has launched a set of exposure databases for cyber risk, claiming them as the first of their kind, something
At-Bay Collaborates with Guidewire Cyence to Set New Stan...
At-Bay is collaborating with Guidewire Cyence on the creation of the capability to quantify active CAT management.
CyberCube launches Exposure Databases for cyber modeling
CyberCube has introduced a set of Exposure Databases that allows (re)insurers and brokers to undertake an array of benchmarking, sensitivity, and real-time analyses on cyber risks.
Alan Atkins new CEO at MCE Insurance
MCE Insurance has a new CEO, with Alan Atkins taking up the mantle and former CEO Julian Edwards stepping into role of executive chair.
YAS and Avata Join Forces to Launch Embedded NFT Warranty...
Bluevine partners with Coalition
Bluevine is backed by Nationwide Ventures.
SecondSight raises $3 million
SecondSight is led by Reuben Vandeventer.
Cyber MGA Coalition and BDT Capital Partners Launch Bermu...
Coalition, the San Francisco-based cyber insurer and cybersecurity firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide ...
Cyber insurer Coalition launches Ferian Re
Cyber insurance provider Coalition has formed a new independent Bermuda-based Class 3B reinsurance firm, called Ferian Re.
TEHTRIS raises €44 million
Open CNP participated in the round.
Cyber MGA Coalition and BDT Capital Partners Launch Bermu...
Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B
Coalition launches Bermudian reinsurer Ferian Re
Ferian Re commits to participate in Coalition's cyber insurance programs alongside other global insurers and reinsurers.
Coalition launches $300m Ferian Re to provide third-party...
Coalition, a leading technology-focused cyber insurance company, has announced the launch of a Class 3B Bermuda based reinsurance company called Ferian Re
Insurers playing catch-up on cybersecurity coverage
Market pressures, increasing threats and low awareness dragging on efforts
Embroker Names David Derigiotis Chief Insurance Officer
Derigiotis is tasked with leading development of innovative specialty insurance products for business verticals.
ILS manager Fermat invests in cyber insurtech Elpha
Fermat Capital Management, one of the largest specialist investment managers of catastrophe bonds and insurance-linked securities (ILS), has invested in cyber insurtech…
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