A settlement has been reached and both side have come to an agreement following the 2017 Merck cyber attack, its only taken 6 years of back and forth. The Act of War clause was disputed and an appellate court ruled…
Cyber insurance still remains a mixed back in Q3 2023. So countries premiums are up, some they’re down. It’s all a bit uncertain as ransomware continues to be a problem across most jurisdictions. Cyber controls remain a driver for cost…
D&O insurance and the False Claims Act, as the Supreme Court of Delaware adjudicates on a case in favor of Guaranteed rate Inc against ACE American Insurance Company. A case that followed a former employee of Guaranteed rate Inc. alleging…
The UK Financial Conduct Authority issued a dear CEO letter to the insurance market last week. A letter that discussed Putting consumers’ needs first and the regulators wish for firms to demonstrate that products meet customers needs and provide value.…
This is a great paper, it captures the essence and impact on Directors and Officers Liability and insurance. ‘What is Next for the Risk of Cybersecurity-Related Litigation?’ The SEC final cyber rule effects corporate risk transfer, playing with the traditional…
A nice article that explains the potential effects of the SEC final cyber rule on D&O and Cyber insurance, registrants regulatory compliance and risk transfer. Complexities and issue will start to unfold over the coming months as registrants, the insurance…
Another state of cyber insurance update. One has to consider how many companies have cyber insurance, that is a difficult number to quantify. We do no that 99% of all organisations are SMEs. That generally can’t afford cyber insurance, or…
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…
As predicated, and to quote a well known film staring Adam Sandler, the SEC final ruling on cyber is ‘opening up a can of whoop-ass’. Not only requiring covered entities to disclose material cyber risks and incidents (See our Bloomberg…
A very important read for CISOs, Board Directors and Officers. In February 2023 we wrote a paper with respected U.S Attorney Rachel V. Rose, JD, MBA and Educationalist Ted Dziekanowski entitled ‘U.S and EU cybersecurity regulation enforces cybersecurity risk management…
