According to The Council’s Commercial Property/Casualty Market Index, premium prices continued to rise in Q3 2021. Prices increased for the 16th consecutive quarter across all account sizes, at 8.9 percent, slightly higher than the 8.3 percent average increase recorded in Q2 2021. When the data was segmented by account size, large accounts had the highest… Continue reading Cyber Premiums Continued to Soar in Q3 2021
Tag: Cyber Liability insurance
Mid-Sized Businesses 490% More Likely to Be Hit with a Security Breach Today Than in 2019
According to Coro’s cross-industry mid-market security study, mid-sized businesses are up to 490 percent more likely than they were in 2019 to experience a security breach by the end of 2021. Mid-sized businesses are now subjected to cyberattacks on a par with their enterprise counterparts. Nonetheless, unlike large corporations, these smaller businesses lack the budgets,… Continue reading Mid-Sized Businesses 490% More Likely to Be Hit with a Security Breach Today Than in 2019
New White House Cybersecurity Directive Puts Spotlight on Aging Computers
Many of the cybersecurity gaps outlined in a new White House directive that calls on federal agencies to patch hundreds of online vulnerabilities stem from the government’s aging computer systems, current and former federal tech chiefs, lawmakers and industry analysts say. But ongoing efforts to upgrade these systems tend to get bogged down by budget… Continue reading New White House Cybersecurity Directive Puts Spotlight on Aging Computers
Administration to Order Federal Agencies to Fix Hundreds of Cyber Flaws
The Biden administration on Wednesday is expected to issue a sweeping new order mandating that nearly all federal agencies patch hundreds of cybersecurity vulnerabilities that are considered major risks for damaging intrusions into government computer systems, officials said. The new requirement is one of the most wide-reaching cybersecurity mandates ever imposed on the federal government.… Continue reading Administration to Order Federal Agencies to Fix Hundreds of Cyber Flaws
Zurich Partners with Cyber Insurtech BOXX Insurance
BOXX, a leading cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed $10 million Series A-round in a bid to accelerate growth and expand its footprint internationally. The new investors are Cyber Mentor Fund, Zurich Insurance Group, and SixThirty Ventures. “In a world impacted by major technological… Continue reading Zurich Partners with Cyber Insurtech BOXX Insurance
CIAB Survey: Record Premium Increases, Capacity Contraction for Cyber Insurance Q2 2021
Premium prices increased in Q2 2021, according to The Council’s Q2 2021 Commercial Property/Casualty Market Index, though the rate of increase continued to moderate. Across all lines of business, prices increased for the 15th consecutive quarter at 8.3%, down from 10% in Q1 2021. Both medium and large accounts experienced the highest increases, at 9.4%… Continue reading CIAB Survey: Record Premium Increases, Capacity Contraction for Cyber Insurance Q2 2021
Cowbell Cyber Delivers Industry’s First Distribution APIs for Instant Cyber Insurance Quoting and Policy Issuance
Cowbell Cyber, the industry’s first AI-powered cyber insurance provider for small to medium enterprises (SMEs), today announced the release of application programming interfaces (APIs) for streamlined digital distribution of cyber insurance. APIs allow insurance digital aggregators to integrate directly to Cowbell’s platform and enable instant quoting of Cowbell Prime 100. The introduction of APIs marks… Continue reading Cowbell Cyber Delivers Industry’s First Distribution APIs for Instant Cyber Insurance Quoting and Policy Issuance
U.S., U.K., Allies Tie Chinese Government to Microsoft Hack
The U.S., U.K. and their allies formally attributed the Microsoft Exchange hack to actors affiliated with the Chinese government and accused the Chinese government of a broad array of “malicious cyber activities,” escalating last week’s tensions between the White House and China. The group of nations said Monday that the Chinese government has been the… Continue reading U.S., U.K., Allies Tie Chinese Government to Microsoft Hack
State Department Offering Rewards Up to $10 Million to Curb Ransomware
The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks, against critical U.S. infrastructure. A task force set up by the White House will coordinate efforts to stem the ransomware scourge. The Biden administration is also out… Continue reading State Department Offering Rewards Up to $10 Million to Curb Ransomware
Ransomware Gang REvil’s Websites Become Unreachable
Websites run by the ransomware gang REvil suddenly became unreachable on Tuesday, sparking widespread speculation that the group had been knocked offline. The Russia-linked cybercrime ring has collected tens of millions of dollars in ransom payments in return for restoring computer systems it has hacked. In recent weeks it claimed responsibility for a sprawling ransomware… Continue reading Ransomware Gang REvil’s Websites Become Unreachable