Every business that maintains electronic data or systems is at risk of a cyberattack or data breach, which could significantly cripple business operations and reputation. In a highly digitalized world, cyber-risk mitigation is becoming increasingly critical.

Insuring cyber risk is a relatively new peril, lacking historical data on both the likelihood and cost of an event needed to underwrite and price coverage. Much uncertainty exists around how to create the best product for cyber defense.

In the face of increasing buyer demand and highly publicized cyber breaches, the insurance industry is focused on educating clients, addressing capacity and pricing issues, and responding quickly to keep pace with a constantly evolving threat.

All Cyber Items

Over 100 Million Individuals Affected by Capital One Breach
Cyber | Aug. 6, 2019 | Cyber, Cyber Regulation, Cybersecurity, New York DFS Cybersecurity Rule

August 6, 2019 On July 29, bank and credit card company Capital One announced the discovery of a data breach affecting approximately 100 million customers in the United States and

New York Third-Party Service Provider Requirements
Cyber | Jun. 6, 2019 | Cyber, New York DFS Cybersecurity Rule

The Council has been working on an approach to standardize the monitoring processes for agents/brokers that are considered to be third-party service providers (TPSPs) of the carriers (and vice versa) under New York’s Cybersecurity Regulation.

Surveying the Cyber Risk Landscape
Podcast | May. 29, 2019 | Cyber

Justin Oliver, Senior Director, Business Development for Employee Benefits, CyberScout Ann Barron-DiCamillo, Vice President of Cyber Threat Intelligence and Incident Response at American Express

What About Cyberterrorism?
Cyber | May. 1, 2019 | Cyber, Cyber Insurance, Cyber Regulation

May 2, 2019 Should Zurich fail to prove any of the points in this article, NotPetya could be, in the court’s eyes, an act of criminality, or even of terrorism.

NotPetya: A War-Like Exclusion?
Cyber | May. 1, 2019 | Cyber, Cyber Insurance, Cyber Regulation

May 2, 2019 In 2017, companies worldwide, from Ukrainian banks to Danish shipping conglomerate Maersk to US companies Merck and Mondelēz, were crippled by a malware attack targeting every existing