Lloyd’s of London, the specialist insurance and reinsurance market, is taking steps to mitigate silent cyber.
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
A report from ratings agency A.M. Best, which revealed that “cyber claims growth greatly exceeded in-force policy growth in 2018.”
June 20, 2019 In case you missed it, we reported live from The Council’s Employee Benefits Leadership Forum (EBLF). Close to 600 industry leaders convened in Colorado Springs, Colo., to
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.
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
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.
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
April 4, 2019 As discussed in a previous newsletter analyzing the current cybersecurity landscape, the National Association of Insurance Commissioners (NAIC) established its own standards, known as the NAIC Insurance
April 4, 2019 Global insurance broker Marsh recently announced its partnership with insurers active in the cyber insurance market, including Allianz, AXA XL, Beazley, Zurich and others. Marsh’s evaluation program
March 7, 2019 Michael Fitzpatrick, contributing editor at Leader’s Edge, sat down with Patrick Costello, a principal at Evolve MGA, to discuss how Evolve MGA is approaching the problem of