Despite the challenges in the cyber insurance market over the past two years, the percentage of clients buying coverage continued to climb in 2022.
Tag: cyber insurance
Beazley 2022 Net Profit Down 48% But Buoyed by Cyber Business
British insurer Beazley Plc said on Thursday that net profit fell 48% in 2022, hurt by investment losses but buoyed by strength in its cyber insurance business.
White House Considers Ban on Ransom Payments, With Caveats
The White House and international partners in the fight against ransomware are considering a ban on ransom payments, eyeing a new and complicated means to counter financially motivated threat actors.
Merck’s Insurers on the Hook in $1.4 Billion NotPetya Attack, Court Says
Insurers for Merck & Co. must help cover losses from a $1.4 billion cyberattack that the U.S. blamed on Russia, a court said, rejecting the insurers’ argument that the attack was akin to an act of war normally excluded from coverage.
Corvus and Core Specialty to Deliver Expansion of AI-Powered Excess Tech E&O and Cyber Product
Corvus Insurance announced today the launch of a new program with Core Specialty to support the expansion of the Excess Tech E&O and Cyber product with additional capacity.
Triangle Companies Pay Hackers to Break into Their Networks
In the past 18 months, video game developer Epic Games has paid more than $3 million to hundreds of hackers online.
The Cyber Insurance Market Is Making a Comeback
After being battered by a rash of pandemic-era ransomware attacks, the cyber-insurance market is making a comeback
Carriers Unlikely to Offer Higher Cyber Limits Despite Better Conditions
Despite recent signs of recovery from shock losses, insurers do not expect the amount they are willing to cover through cyber policies to grow dramatically in the near future.
Coalition Active Cyber Insurance Available to Large Enterprise Businesses with Revenue Up to $5 Billion
Coalition announced the expansion of its cyber insurance offering to enterprise businesses with revenues up to $5 billion. The company’s increased capacity above its existing limit of $1 billion comes from a syndicated placement across many of its existing partners.
Coalition Launches Full-Stack Cyber Insurance Organization
Coalition, today announced the launch of Coalition Insurance Company (CIC), the first full-stack, Active Cyber Insurance carrier.