Brit Ltd (“Brit”) is pleased to announce the appointments of James (Jim) Patterson as Vice President, Cyber & Technology and Ryan Mimmo as Vice President, Cyber & Technology for Brit Global Specialty USA (“BGSU”). Jim and Ryan report to Jeff Norton, Senior Vice President, Cyber and Technology and are based in San Francisco and New… Continue reading Brit Global Specialty USA Continues to Grow Cyber & Technology Practice
Tag: Cyber Liability insurance
Hackers Strike Another Small Florida City, Demanding Hefty Ransom
For the second week in a row, a small Florida city has agreed to pay cyber criminals hundreds of thousands of dollars after a ransomware attack crippled city systems. The council in Lake City, a community of about 12,000 people west of Jacksonville, approved during an emergency meeting Monday night a bitcoin payment worth about… Continue reading Hackers Strike Another Small Florida City, Demanding Hefty Ransom
Verisk Launches New Underwriting Solution for Cyber Insurance
Verisk, a leading data analytics provider, announced today the launch of its Cyber Underwriting Report, a new InsurTech solution that can help insurers underwrite a wide variety of risks in the growing cyber market with increased speed and precision. The report is designed to help insurers underwrite policies in a range of industries where cyber… Continue reading Verisk Launches New Underwriting Solution for Cyber Insurance
U.S. Cyber Insurance Premiums Doubled in Four-Year Span: A.M. Best
Direct premiums written in the U.S. cyber insurance market have more than doubled over a four-year span, to $2.0 billion in 2018 from $996 million in 2015, as insurers have increased their writings and expanded product offerings to meet an ever-growing demand, according to a new AM Best special report. In the new Best’s Market… Continue reading U.S. Cyber Insurance Premiums Doubled in Four-Year Span: A.M. Best
U.S. Cyber Premiums Up 10% to $2.03B in 2018: Aon Study
A new study by global reinsurance brokerage Aon indicates that cyber premiums grew to just over $2 billion in 2018, roughly a 10% increase from the prior year. Premiums from package business grew modestly, rising 6% year on year, while standalone cyber premiums grew 14%. Premiums for small commercial-focused cyber insurers grew 19%. Additionally, 184… Continue reading U.S. Cyber Premiums Up 10% to $2.03B in 2018: Aon Study
Healthcare Organizations Lack Money, Tools, Talent to Address Biggest Cybersecurity Threats: Survey
Third-party vendor risk and medical devices are the biggest cybersecurity threats that keep healthcare IT security executives awake at night, according to a new survey. However, the action needed to actually address these threats is lagging, the survey found. Forty percent of healthcare security leaders said third-party risk is the threat that concerns them the… Continue reading Healthcare Organizations Lack Money, Tools, Talent to Address Biggest Cybersecurity Threats: Survey
Class Action Lawsuit Filed Against Quest Diagnostics Following Data Breach
Days after it was revealed a data breach may have affected up to 11.9 million Quest diagnostics customers, a Florida woman filed a class action lawsuit against the diagnostics giant. On Wednesday, Traci Diana Julin, of Lake Mary, filed the federal lawsuit against Quest Diagnostics, AMCA and Optum360 for a security breach at AMCA that… Continue reading Class Action Lawsuit Filed Against Quest Diagnostics Following Data Breach
Quest Diagnostics Says 11.9M Patients’ Info May Have Been Exposed in Data Breach
About 11.9 million Quest Diagnostics patients may have had their financial, medical and other personal information exposed in a data breach, the company said Monday. In a filing with the Securities and Exchange Commission, Quest said a billing collections vendor, American Medical Collection Agency, notified it last month of potential unauthorized activity on AMCA’s web… Continue reading Quest Diagnostics Says 11.9M Patients’ Info May Have Been Exposed in Data Breach
Chubb and Clyde & Co Launch Emerging Cyber Risks and Multinational Insurance Report at Airmic
Chubb today published a new report on emerging cyber risks and multinational insurance, created in collaboration with global law firm Clyde & Co. The report, Managing Tomorrow’s Cyber Risks and Multinational Insurance, was launched at the Airmic 2019 Conference in Harrogate. It analyses the current international cyber risk landscape and highlights areas that multinational corporations… Continue reading Chubb and Clyde & Co Launch Emerging Cyber Risks and Multinational Insurance Report at Airmic
Beazley Unveils Streamlined Insurance Policy for Media and Tech Industry
Specialist insurer Beazley has updated its MediaTech insurance policy to keep pace with the rapidly evolving technology market and cyber threat landscape faced by firms as they seek to innovate and grow. Media and technology businesses are at the forefront of developing and applying new tools and systems. They need assurance that they are not… Continue reading Beazley Unveils Streamlined Insurance Policy for Media and Tech Industry