As technology proliferates further into individuals’ lives, the role of identity theft insurance as a supplemental product could evolve as personal cyber risks become more of a threat, according to a new AM Best report. A new Best’s Special Report, titled, “Identity Theft Coverage Continues to Evolve,” states that in its current form, identity theft… Continue reading Identity Theft Coverage Could Evolve Into Standalone Personal Cyber Insurance: AM Best
Tag: cyber insurance
Brit Announces Launch of E-trading Cyber Portal
Brit Ltd (“Brit”) is pleased to announce the launch of its online platform for cyber risks. The e-trading portal will launch in both the UK and the US targeting SMEs in both regions. The portal will give brokers an agile, user-friendly outlet for Brit’s leading cyber underwriting capabilities, allowing them to quote and bind in… Continue reading Brit Announces Launch of E-trading Cyber Portal
FBI: Cybercrimes on the Rise Because of Sophisticated Scams
On Dec. 14, 2018, Aaron Cole was about to buy a new house and received an email that he thought was from his title company, directing him to make a $123,000 deposit. Cole complied, not realizing that a sophisticated hacker network had likely been spying on his communications with the title company and that although… Continue reading FBI: Cybercrimes on the Rise Because of Sophisticated Scams
Zurich Rolls Out New Cyber Coverages for Manufacturers
Zurich Insurance has announced the rollout of new, industry-specific endorsements to its cyber insurance policy designed to expand coverages provided to the manufacturing industry. The endorsements were created in response to the growing threats posed to U.S. industrial firms by data breaches, ransomware and other cyber events. Prompting Zurich’s move is the fact that many… Continue reading Zurich Rolls Out New Cyber Coverages for Manufacturers
Willis Towers Watson Launches Innovative New Cyber Policies for Clients
Willis Towers Watson, a leading global advisory, broking and solutions company, has launched three new cyber insurance policies for clients across the U.S., Canada, the U.K. and Western Europe. The policies provide innovative, tailored solutions for large enterprise and mid-market clients, enabling them to fully assess, protect and recover losses related to cyber risk. The… Continue reading Willis Towers Watson Launches Innovative New Cyber Policies for Clients
Markel Adds New Risk Management Tool to Cyber Product Offerings
Markel, a leading cyber liability insurer, announced today the availability of a new risk management tool for policyholders. WhiteHaX, a state-of-the-industry testing and reporting tool, simulates cyber security breaches and assesses the readiness of deployed security infrastructure and software. It is especially useful for small-to-medium size businesses. WhiteHaX is a cloud-hosted, dedicated platform developed by… Continue reading Markel Adds New Risk Management Tool to Cyber Product Offerings
Beazley Reports a 37% Rise in Ransomware Incidents
Beazley data reveals an increase in ransomware attacks against IT vendors as cyber criminals exploit weak security programs to target both the vendor and their clients. One quarter (24%) of all ransomware incidents reported to Beazley Breach Response (BBR) Services – Beazley’s in-house breach response team – in the third quarter of 2019, were found… Continue reading Beazley Reports a 37% Rise in Ransomware Incidents
Verisk Launches Cyber Data Exchange
Verisk, a leading data analytics provider, announced today the creation of its Cyber Data Exchange, an analytics solution that aggregates cyber insurance data to help insurers gain insights into the market and improve strategic decision making. Without access to broad-based, credible, and relevant data, many insurers and professionals in the cyber insurance value chain face… Continue reading Verisk Launches Cyber Data Exchange
Beazley Launches Suite of Cyber Risk Management Services for International Policyholders
Preparing for and preventing breaches have become inseparable from insuring a cyber loss and organizations must protect themselves on all fronts. In line with specialist insurer Beazley’s commitment to 360° cyber protection, international cyber policyholders will now have access to a full suite of cyber risk management services. Beazley has designed these resources to help… Continue reading Beazley Launches Suite of Cyber Risk Management Services for International Policyholders
Risk Strategies Launches Cyber Resolute, Transforms Traditional Cyber Liability Risk Management
Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced Cyber Resolute, an exclusive offering that combines cutting-edge technology with smarter processes and specialized coverage to reduce exposure, costs and potential liability in an ever-changing threat landscape. Easily tailored to specific client circumstances, Cyber Resolute is an advanced risk… Continue reading Risk Strategies Launches Cyber Resolute, Transforms Traditional Cyber Liability Risk Management