Working with organization to implement cybersecurity risk management would be profitable for the insurance industry. It would enable cyber insurers to build the repository of data needed to adequately underwrite cyber, in near real time. Additionally cyber regulation will require…
Could this be an indication that U.S Federal Agencies are focusing on the adoption of NIST SP 800-171 cybersecurity compliance for the fulfillment of federal contracts? In this instance Federal Emergency Management Agency (FEMA), Department of Homeland Security (DHS) will…
This is an important read and should not be a shock for the cyber insurance industry or the insured. The Global Federation of Insurance Associations (GFIA) has flagged that the cyber protection gap has been estimated at around $900Billion. With…
Is there a view on the validity of cyber insurance in the event of a regulatory breach? With the volume of cyber regulation being developed globally, that appears to affect many industry sectors. Many organizations may be covered by cyber…
Alongside ‘climate risks’, recent cyber stress tests by UK insurers for the Bank of England raised questions over the amount of regulatory capital that insurers are holding to manage cyber risk. Evaluating the impact of cloud outage, mass data loss…
In 2022 we discussed the challenges that cyber insurance industry faces with insuring cyber to the insurance industry and Lloyds of London, in line with the statement made by the CEO of Zurich. We also presented the opportunities for the…
Cyber insurance or self insurance has been the only realistic option available for SMEs to manage cyber risk. As the cost of cybersecurity compliance has invariably been out of reach for most small to medium sized organizations. With cyber insurance…
Cyber is going through allot of change at the moment, and no publicly available measures paint a picture of it being a risk that the insurance industry is going to manage any time soon. The UK FSA insurance industry stress…
A great article by Scott Shackelford JD, PhD that presents options for governments to address cybersecurity through taxation. Chris Inglis the outgoing director of ONCD often said that cyber requires a whole of society approach and regulation to address failings…
Another U.S regulator steps up their cyber regulation. As the National Credit Union Administration (NCUA). The National Credit Union Administration (NCUA) is a government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions.…
