One of the messages that Warren Buffett and Berkshire Hathaway’s top insurance executive, Ajit Jain, sent to investors during the company’s recent annual shareholder meeting in Omaha was that cyber insurance, while currently profitable, still has too many unknowns and risks for Berkshire, a huge player in the insurance market, to be fully comfortable underwriting.
Tag: cyber insurance
Corvus Expands Cyber Insurance Offering
Corvus Insurance announced it has doubled the aggregate limits available under its Smart Cyber product to $10 million, as well as expanded its appetite for potential insureds to companies with up to $5 billion in annual revenue.
70% of Firms Faced BEC Attacks in 2023: Arctic Wolf
Business email compromise now ranks as a top attack method, with 70% of organizations saying they’ve faced a BEC attempt in the last year and 29% actually falling victim to at least one attack, according to a new report from Arctic Wolf.
Howden Launches Platform to ‘Democratize’ Cyber Insurance for SMEs
Howden has launched a unique cyber insurance platform with the goal of simplifying purchasing for small to medium-sized enterprises (SMEs).
U.S. Says Cyberattacks Against Water Supplies Are Rising
Cyberattacks against water utilities across the country are becoming more frequent and more severe, the Environmental Protection Agency warned Monday as it issued an enforcement alert urging water systems to take immediate actions to protect the nation’s drinking water.
Cyber Insurance Premium Growth Levels Off for U.S. P/C Insurers
Cyber again generated strong profits for U.S. property/casualty (P/C) insurers last year, Fitch Ratings says in its latest market update report, but weaker pricing led to the first decline in direct cyber written premiums since cyber-specific premium data were included in statutory financial statements.
Cyber Threats Rise Along with Scrutiny of How Companies Respond
Cybersecurity threats increased for businesses over the past year, according to a Wall Street Journal survey of compliance professionals.
Hackers Behind MGM Attack Targeting Financial Sector in New Campaign
The hacking group accused of disrupting casinos and hotels at MGM Resorts International last year is engaged in a new campaign targeting banks and insurance companies, according to cybersecurity researchers.
White House to Push Cybersecurity Standards on Hospitals
The Biden administration intends to require hospitals to meet minimum cybersecurity standards after a single hack exposed the data of 100 million Americans.
Amwins Launches Multiline Quoting Platform, Amwins InstantQuote
Amwins, a global distributor of specialty insurance products and services, launched Amwins InstantQuote (Amwins IQ), an online marketplace enabling access to firm, bindable quotes from multiple carriers within minutes