They come like London Busses, as Munich re publishes a report on the Disproportionately high†cyber insurance gap. Cyberattacks are on the up as result of digitization, Cyber awareness is improving, and boards don’t believe that their companies are adequately…
The insurance industry has a major part to play in setting the cyber agenda. Cyber insurers are in a very unique position, they have direct access to companies that manage cyber risk through the insurers products and services. Insurers set…
The False Claims Act (FCA) and its application to the DIB has been front and center with the Aerojet Rocketdyne and CHS FCA cases. The U.S. Federal drive for cybersecurity legislation, regulatory enforcement of the DoD DFARS/ CMMC program, the…
We are maybe no further forward in our ability to manage cyber risk than we were 3 years ago? The real changes have come from government legislators, regulatory enforcement and the insurance industry. Regulatory changes will drive corporate changes that…
The gap between cybersecurity awareness and risk mitigation is not closing. At a time when the frequency, complexity and severity of cyber attacks continues to increase. A gap that will have an impact on companies as the regulatory environment for…
From the 1st of May Federal Deposit Insurance Corporation (FDIC) supervised banks must report cyber incidents, to comply with new cyber incident report regulations (). Following their November 2021 Final Ruling. This in effect covers most banks in the US.…
Are we at a pivot point with cyberspace and the application of international law? Traditional rules of engagement and domains of operation do not apply in cyberspace and cyber related attacks are difficult to trace and legally enforce. This is…
Insurers are starting to examine their options for cutting their exposure to the Ukraine Russia conflict. With Willis Towers Watson adding exclusions for Ukraine. () Ted Dziekanowski View Original Post
Munich Re is moving to exclude war from its cyber policies. With S&P Global last week saying that insurance losses from the Ukraine conflict could total $35 billion, with cyber one of the classes of insurance most exposed. Following reports…
Are cyber insurers bracing themselves for a large cyber incident, through single points of failure that have a consequential impact on other domains, such as an attack on CNI? Cyber is only an insurable risk with intervention from the cyber…
