There’s a note of warning for both consumers and companies as the insurance industry looks for more capital to underwrite complex risks including natural disasters and cyber attacks. With the Chief Executive of Aon stating that Insurance needs $1trn from…
Insurers, the focus of cyber attacks as Aflac announces its dealing with a cyber incident, perpetrated by a ‘sophisticated’ cybercrime group. Another attack, another day and the continuation of a campaign against the insurance industry. @Thaddeus Dziekanowski Brian D. McCarthy…
The Aon 2025 cyber risk report provides a view of the state of cyber risk and insurance. Cyber claims frequency increased by 22% in 2024 and there was a 77% decline in ransomware payouts. There’s sparse cyber insurance coverage. There’s…
Thank you for posting Johnathan Rudy. US insurer Erie Indemnity Company (Erie) informed the SEC this week that it is currently dealing with a cyber attack. The 8K report submitted to the SEC highlighted that Erie identified its IT networks…
Olaf Classen thank you for posting, this article should be read by everyone. It is a warts and all demonstration of what happens to a company in the event of a cyber attack. Forget the Marks and Spencer hype. This…
Bringing it out into the open. The role that nation state threat actors play in cyber attacks and the threat that cyber poses to national security. That is going to be a double edge sword. On one edge the public…
The UK cyber insurance market update by Marsh demonstrates a few challenges ahead for the insurance industry. Recent attacks against UK retailers and logistics companies may highlight the maturity of corporate boards management of cybersecurity risks, and reliance on cyberinsurance…
Thank you for posting @Thaddeus Dziekanowski, another retail falls victim to a cyber attack. Victoria’s Secret & Co. announced it is undergoing a cyber attack and has for the past 3 days. Taking down its website and one suspects its…
Nice terminology @Thaddeus Dziekanowski, AI and the ‘third rail’. The power of AI is not in doubt and its use cuts across all knowledge industries, including healthcare. Ultimately, for countries such as the U.S the benefit case for insurers is…
Did the Co-op have cyber insurance? Whether you believe a cyber insurance policy will pay out in full or not, a cyber policy should at the minimum cover incident response costs, media and legal fees. Ahead of any further costs…
