One always appreciates a cyber insurance industry update. Are we in a hard, market, a soft market, a stable market or one that is fluctuating? It is always difficult to tell. What reports do tell us for July is that…
What will the future bring for cybersecurity products and services is a question that is front and center. We have recently seen layoffs from several high profile cybersecurity vendors, cyber attacks continue to rise, cyber insurance costs are increasing, exclusion…
The Beazley report on cyber insurance is worth taking a look at. What is of concern is the Boardroom perception of cyber risk falls sharply from the pandemic years. Well one can guarantee with 100% certainty that this is going…
What is interesting is that the U.S Department of Treasury has made clear that payment of ransomware to individuals, organizations or jurisdictions on OFAC is a breach of regulation, that comes with heavy penalties. While one is not aware of…
Spare a thought for entities covered by the Australian Prudential Regulator, following the announcement by the SEC to regulate cyber. The APRA will expect boards of covered entities to oversight cybersecurity. 1. APRA says boards are ultimately accountable for operational…
An important vote on the SECs proposal to regulate public firms that access U.S capital markets takes place today. ‘Will they, won’t they’ is the question. With cyber attack frequency, complexity and severity of impact rising; with other nations regulating…
A great suite of analogies for the road ahead for cyber insurance Ted Dziekanowski. I would probably add a slow train wreck waiting to happen, not necessarily for the insurance industry. As the article points out, ransomeware is not slowing,…
With law firms a prime target for cyber attack and data theft. Cyber insurance is therefore an important risk transfer tool. One would have expected law firms to have paid attention to managing cyber risk. Using cyber insurances at a…
An important read on cyber insurance, and update to German caselaw. The German regional Court of Tübingen rendered the first judicial decision concerning cyber insurance. Ruling in favour of the insured. The court rejected the insurer⬢s argument that the insured…
Thank you for posting Olaf Classen. One remembers the articles early in 2023, when ransomware attacks were falling, comparative to 2022. Also demonstrated by reports from the cyber insurance industry. The article demonstrates the flexibility and adaptive nature of cyber…
