A realistic conversation taking place around cyber insurance. It’s a hard risk to underwrite, one which the insurance industry is finding difficult to assess. It does not follow any of the traditional underwriting processes used for traditional insurance products. Cyber…
It is a hard place to be, there is an opportunity to grow a market in cyber insurance. The ‘gold rush’ has pulled many underwriters into the market pricing products with little understanding of the complexity of the risk. There…
Once bitten, twice shy, third time get insurance. The attack on Baltimore was one of the most extensive hacks on a US municipality. I wonder how your premiums are affected when you buy cyber insurance if you are hacked twice.…
A great report from AoN and DLA Piper which discusses cyber insurance and GDPR. Reviewing the current status of regulatory insurance across European countries and the latest enforcement actions against GDPR. It reinforces that insurance coverage for regulatory fines and…
By any measure the cyber insurance market is growing. But the evidence is that it’s not all Rose’s for the insured. Insurers aren’t paying out and the insured doesn’t understand what will be covered. When we better understand the risk…
Standard and Poors has issued a report on the insurance and reinsurance markets ability to underwrite cyber risk. Well worth a read. It raises concerns that the cyber insurance market is at risk of serious damage unless there are changes…
With the Mondelez Vs. Zurich case running through the courts (). Things may have got decidedly more difficult for cyber insurance policies. With the US President signing of executive order 13873. It looks like the order opens the door wider…
This weeks judgement by Washington State Attorney General Bob Ferguson on Premera’s data breach, records an actual legal cost of $84Mn. On-par with Marriott and BA. US health insurer Premera Blue Cross has agreed to pay US states $10Mn to…
Lloyd’s of London has called for clarity on cyber insurance policies from insurance and re-insurance providers. To make it clear whether policies will pay-out or not in the event of a cyber-attack. Saying that it was in the interest of…
I’m coming to the opinion that the cyber insurance market is currently a bit of a paradox. The cyber insurance market is on the rise. But the regulator is asking for clarity on the market exposure to cyber. The global…
