Insurance Related Topics 
Data Breach Today
JANUARY 31, 2023
Increased Competition and Capital Suggest Softening Market, Says Marsh Executive Premiums for cyber insurance have climbed sharply along with global rates of ransomware.
Data Breach Today
NOVEMBER 8, 2022
Who is attempting to extort Australian health insurer Medibank, why did Medibank tell its attackers it wouldn't pay a ransom and will this deter future cyber extortionists? A Ransomware Group Has Given Medibank 24 Hours to Pay. But Medibank Says it Won't.
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Data Breach Today
AUGUST 20, 2021
Firm Says Singapore Unit Was Targeted Tokio Marine, a Japan-based property and casualty insurer, says its Tokio Marine Insurance Singapore unit was hit by a ransomware attack this week
Data Breach Today
OCTOBER 17, 2022
Apparent Spate of Australian Data Breaches Continues Australian health insurer Medibank told investors it stopped a probable ransomware attack before the attack could steal data or maliciously encrypt its systems.
Data Breach Today
JANUARY 26, 2023
insurers by the Bank of England found underwriters mostly withstood extreme cyber events. Exclusions and Reinsurance Bolster Resiliency to Extreme Cyber Risk A periodic stress test assessment of U.K.
Data Breach Today
JUNE 15, 2021
As the cyberthreat landscape grows exponentially more complicated, the insurance industry is trying to keep pace. Yet, many organizations still lack cybersecurity insurance.
Data Breach Today
MARCH 27, 2020
Maze Gang Claims Insurer Is a Victim, Emsisoft Reports Switzerland-based global insurance firm Chubb acknowledges that it's investigating a "security incident."
Data Breach Today
APRIL 21, 2022
Lynn Peachey, the director of business development at Arete Incident Response, says that insurance companies have made "a pretty quick turnaround in terms of trying to respond to the ransomware epidemic."
Data Breach Today
MARCH 24, 2021
Investigation Continues; Law Enforcement Notified Insurance provider CNA reported Tuesday it was victimized over the weekend by a "cybersecurity attack" that caused a network disruption and impacted certain systems, including corporate email
Data Breach Today
FEBRUARY 3, 2023
So warns cyber insurer Coalition, based on analyzing in-the-wild attacks seen in 2022 via underwriting and claims data, scans of IP addresses and honeypots
Data Breach Today
APRIL 15, 2022
Declining Loss Ratios Means Insurance Premium Increases Might Moderate in Late 2022 A surprising improvement in loss ratios for cyber insurance providers in 2021 means the rapid rise in premiums might at last subside later this year.
Data Breach Today
AUGUST 11, 2022
Kelly Butler Says Underwriting Requirements Are Becoming More Strict Cyber insurance can defray costs associated with data breaches and ransomware attacks.
Data Breach Today
MAY 28, 2021
Also: Debating the Issue of Banning Ransom Payments In this week's panel discussion, four editors at Information Security Media Group discuss cyber insurance, persistent ransomware attacks and whether ransom payments should be banned
eSecurity Planet
APRIL 22, 2022
That’s where cyber insurance may be able to help. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage. Cyber Insurance is Booming. Selecting a Cyber Insurer.
Data Breach Today
SEPTEMBER 29, 2022
Cyber Insurers Limit Financial Exposure While Risk Grows The Department of Treasury and the Cybersecurity and Infrastructure Agency are soliciting comments on whether risks to critical infrastructure from a catastrophic cyber attack - and the concurrent potential for ruinous financial exposure by insurers - should lead to a new federal approach.
Schneier on Security
JULY 1, 2021
Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals.
Data Breach Today
OCTOBER 14, 2022
Medibank Group Says No Evidence of Data Compromise Australian health insurer Medibank Group says it has found no evidence of data compromise following its Wednesday detection of unusual network activity.
Schneier on Security
FEBRUARY 28, 2022
Tarah Wheeler and Josephine Wolff analyze a recent court decision that the NotPetya attacks are not considered an act of war under the wording of Merck’s insurance policy, and that the insurers must pay the $1B+ claim.
Data Breach Today
MAY 24, 2021
GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office
Data Breach Today
MAY 25, 2021
based insurance firm One Call says its systems were disrupted by a ransomware attack May 13 and it's still working to restore them. Local Newspaper Says DarkSide Gang Suspected to Be Involved The U.K.-based
Data Breach Today
APRIL 13, 2021
The Latest Victim: DC Blue Cross Blue Shield Plan A recent cyberattack on a Washington-based health plan, which the company believes was carried out by a foreign cybercrime group, is the latest in a series of hacking incidents targeting health insurers
Dark Reading
FEBRUARY 8, 2023
From prevention and detection processes to how you handle policy information, having strong cyber insurance coverage can help mitigate cybersecurity attacks
Data Breach Today
NOVEMBER 2, 2022
When A Cyberattack Is Cyberwar Still Being Litigated Five Years After NotPetya Wave Cookie and cracker giant Mondelez International settled litigation launched in 2018 against Zurich Insurance after the underwriter denied a claim for property damages stemming from the NotPetya malware wave.
Data Breach Today
JULY 29, 2021
Key Factors: Negotiating Lower Ransoms, Improving Recovery Cyber insurance provider Coalition Inc. says its clients' average claims for losses when they were hit by a ransomware attack totaled $184,000 in the first half of this year, down 45% compared to the second half of 2020.
KnowBe4
AUGUST 8, 2022
The WSJ reported Aug 8, 2020: It is becoming more expensive and difficult for companies to get or renew cyber insurance. cyber insurance policies increased by 79% from a year earlier. Insurers have made it harder to get or keep a policy, too.
Data Breach Today
NOVEMBER 21, 2019
Lawsuit Claims Insurer Owes Retailer for Coverage of Card Replacement Costs Target has filed a lawsuit against its long-time insurer, ACE American Insurance Co.,
Data Breach Today
MAY 17, 2021
Avaddon Ransomware Gang Claims Responsibility Asia Assistance, a subsidiary of Paris-based multinational insurance company AXA, was hit by a ransomware attack that affected its IT operations in Thailand, Malaysia, Hong Kong and the Philippines, the company reports
Data Breach Today
MARCH 18, 2021
Centene Corp.
Dark Reading
AUGUST 29, 2022
Businesses need to re-evaluate their cyber-insurance policies as firms like Lloyd's of London continue to add restrictions, including excluding losses related to state-backed cyberattackers
Dark Reading
FEBRUARY 25, 2022
Having cyber insurance is a good idea if the costs make sense — it could be the difference between going out of business and staying afloat. But it shouldn't be your first course of action
Data Breach Today
DECEMBER 4, 2022
Accuro Says Claims Processing Affected, No Evidence of Data Breach New Zealand private health insurer Accuro says an investigation into a cyber incident at a third party IT infrastructure provider so far has not revealed evidence of a data breach affecting its 34,000 customers.
Hunton Privacy
MAY 4, 2022
In April 2022, two states enacted insurance data security legislation based on the National Association of Insurance Commissioners (“NAIC”) Insurance Data Security Model Law (MDL-668). Cyber Insurance Cybersecurity Information Security U.S.
Dark Reading
OCTOBER 14, 2022
Acuity Insurance reports ongoing increased insurance risk for individuals and businesses
Data Breach Today
DECEMBER 8, 2020
Expect to See Extortion and Social Engineering Attacks Excluded From More Policies Are insurers getting cold feet over covering losses to ransomware?
Dark Reading
AUGUST 11, 2022
Even among businesses with cyber insurance, they lack coverage for basic costs of many cyberattacks, according to a BlackBerry survey
Data Breach Today
NOVEMBER 25, 2020
Dennis Toomey explains why the industry must turn not only to sophisticated tools and technologies, but also unite around a strategy based on collaboration - in order to tackle insurance fraud
OpenText Information Management
APRIL 22, 2019
Research has consistently shown that senior management within the insurance sector think digital transformation is critical to their business. While executives see transformation as essential, achieving success is proving to be much more difficult, with a global report recently published by Cap Gemini suggests that insurance companies are lagging behind other Financial Services organizations.
Dark Reading
NOVEMBER 3, 2022
The settlement muddies the waters even further for the viability of war exclusion clauses when it comes to cyber insurance
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