In a joint whitepaper, Closing the Cyber Risk Protection Gap, Zurich Insurance Group and Marsh McLennan highlight the growing divide between increasing cyber threats and the current ability of both businesses and insurers to mitigate them.
Tag: Cyber
CIAB: Premium Increases Flat to Down Q1 2024
Premium increase moderation continued this quarter, with premiums across all account sizes increasing by 7.7%, slightly up from the previous quarter’s 7.0%. It was the 26th consecutive quarter of increases.
Insurance Pricing Continues to Moderate as Rates Decline in Most Regions: Marsh
Global commercial insurance rates increased by 1% in the first quarter of 2024 (down from a 2% increase in Q4 2023), according to the Global Insurance Market Index released today by Marsh,
SEC Sues SolarWinds Over 2020 Hack Attributed to Russians
The Securities and Exchange Commission on Monday sued SolarWinds, the software company victimized by Russian-linked hackers over three years ago, alleging the firm defrauded shareholders by repeatedly misleading them about its cyber vulnerabilities and the ability of attackers to penetrate its systems.
Amid Fluctuating and Emerging Business Risks, Cyber Threats Remain a Leading Concern
The Travelers Companies, Inc. today released its 2023 Travelers Risk Index results, and for the ninth straight year, cyber threats were one of the top three business concerns among the 1,200 survey participants from small-, medium- and large-sized companies.
Cowbell Adds Google Workspace to its Risk Rating Model for Cyber Insurance
Cowbell, the leading provider of cyber insurance for small and medium-sized businesses (SMEs), announced today the release of its Connector for Google Workspace.
Cybercriminals Return After Getting Ransomware Payments
More than a third (36%) of companies that paid a ransom were later targeted by cyber criminals a second time.
U.S. Banks Processed About $1.2B in Ransomware Payments in 2021
U.S. banks and financial institutions processed roughly $1.2 billion in likely ransomware payments in 2021.
Increased Ransomware Attacks, Global Threats Tempering Executive Confidence in Cyber Preparedness
The toll of almost three years of unrelenting workplace disruption, digital transformation and ransomware attacks means most leaders are no more confident in their ability to manage cyber risk than they were two years ago. This is according to a new report published today by Marsh, the world’s leading insurance broker and risk advisor, and… Continue reading Increased Ransomware Attacks, Global Threats Tempering Executive Confidence in Cyber Preparedness
Brit Combines Ambridge and BGSU to Create Leading U.S. MGA
Brit Ltd announced that it will be bringing together it’s US service company platform, Brit Global Specialty USA (“BGSU”), and its premier MGA, Ambridge. The combined entity, which will operate under the Ambridge brand as Ambridge Partners LLC, will create an MGA managing in excess of $450 million in premium in the U.S. and over… Continue reading Brit Combines Ambridge and BGSU to Create Leading U.S. MGA