The cyber insurance industry is profitable. But Direct Loss ratios for cyber insurance saw a significant increase between 2019 (47.1%) and 2020 (72.8%), and is expected to rise according to Fitch ratings, no doubt on the back of ransomware. We…
An article well worth reading. The systemic impact of ransomware, its impact across the corporate balance sheet, from top to bottom line and up and down the supply chain is a problem for the insurance industry. Hacking is a well…
Beijing is cracking down on business, tightening regulation on everything from technology companies to insurance providers. With the Standing Committee of the National People’s Congress passing data protection and privacy laws as recently as Friday. The regulatory drive by China…
U.S. Federal government and businesses face a challenge addressing cybersecurity compliance, oversight and assurance. FISMA, and the associated Risk Management Frameworks requires Federal Agencies to adopt a risk based approach to business; the complexity, sophistication and impact of cyber attacks…
AIG is reflecting on its cyber insurance. Premiums are up 40% on the year and coverage is down, quoting its CEO. Small Business America and Federal government face a dilemma . Small Business makes up 99% of US companies. Cyber…
Cyber regulation is being developed at a faster rate than at any other time. With the Securities and Exchange Commission (SEC) releasing its Environment Society and Governance (ESG) regime, including cyber risk governance in its 2021 regulatory agenda. The US…
Worth a read, a very interesting set of statistics on cyber insurance. global insurance pricing has increased 32%. Ransomware is the predominant cyber threat confronting businesses of all sizes overtaking data breaches, which is what we all see in the…
More is coming to light about the weekends Kaseya cyber attack, which looks like it came from a zero day following a patch release (CVE-2021¢â‚¬â€œ30116). If correct then it resembles the SolarWinds attack in 2020 and went straight in at…
More is coming to light about the weekends Kaseya cyber attack, which looks like it came from a zero day following a patch release (CVE-2021€30116). If correct then it resembles the SolarWinds attack in 2020 and went straight in at…
This report on the status of the cyber insurance market from a credit rating agency is well worth reading ‘Grim’ is not a particularly positive word to use when describing anything. Even less so when it come from a credit…
