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
Tag: Cyber Liability insurance
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
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
Baltimore to Buy $20 Million in Insurance in Case of Another Cyber Attack
Officials in Baltimore approved the city’s purchase of $20 million in cyber-insurance coverage, five months after a debilitating ransomware attack. The decision Wednesday to buy specialized insurance comes as U.S. cities face a growing threat of hackers seizing municipal computer systems and demanding ransoms that can top $1 million. Baltimore, which didn’t previously have cyber… Continue reading Baltimore to Buy $20 Million in Insurance in Case of Another Cyber Attack
Great American Insurance Group Launches Streamlined, Admitted Cyber Product for Small and Medium-Sized Businesses
Great American Insurance Group is pleased to announce its new admitted cyber risk insurance product, the Risk e-Business Cyber Loss & Liability Insurance Policy℠. With two insuring agreements and only 13 exclusions, it’s cyber coverage made simple. According to Betty Shepherd, Divisional Senior Vice President of Great American Cyber Risk, the product is easy for… Continue reading Great American Insurance Group Launches Streamlined, Admitted Cyber Product for Small and Medium-Sized Businesses
Ransomware Attacks for 2019 Already Outpacing Total Number of Incidents in 2018: Chubb
In the 2019 third quarter edition of the Chubb Cyber InFocus Report, “Adapting to the New Realities of Cyber Risks,” Chubb provides insight into the recent growth of ransomware attacks across industries and underscores best practices companies should take to combat the associated risks. “Ransomware is not new, but has evolved over time,” said Michael… Continue reading Ransomware Attacks for 2019 Already Outpacing Total Number of Incidents in 2018: Chubb
Thousands Given Green Light to Make Compensation Claim over British Airlines Data Breach
Thousands of British Airways customers have been given the green light to to bring compensation claims against the airline over a data breach. Half a million people were left exposed by the cyber attack on BA’s systems last year last year and BA could face a record fine for their “poor security arrangements”. At a… Continue reading Thousands Given Green Light to Make Compensation Claim over British Airlines Data Breach