article thumbnail

Hackers Sell U.S. Lawmaker Data Stolen From Insurance Market

Data Breach Today

Target Does Not Appear to Have Deliberately Targeted Members of Congress A hacker has been selling data stolen from an online health insurance marketplace used by members of Congress and residents of Washington, D.C. The cause size and scope of the breach are still unknown.

Insurance 273
article thumbnail

Cyber Insurance: Higher Premiums, Limited Coverage

Data Breach Today

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.

Insurance 280
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Skyrocketing Cyber Insurance Premium Growth May Slow

Data Breach Today

Increased Competition and Capital Suggest Softening Market, Says Marsh Executive Premiums for cyber insurance have climbed sharply along with global rates of ransomware. But signs of increased competition and capital inflows suggest the cyber insurance market may be softening, Marsh executive Sara Stephens told a U.K.

Insurance 130
article thumbnail

How Data Changes the Cyber-Insurance Market Outlook

Dark Reading

By using data to drive policy underwriting, cyber-insurance companies can offer coverage without a price tag that drives customers away.

Insurance 105
article thumbnail

News Alert: QBE North America launches new cyber insurance program with Converge

The Last Watchdog

New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyber insurance program with new MGA, Converge, acting as program administrator. Tom Kang, CEO, Converge, added, “We’re thrilled to partner with QBE North America given their experience and reputation in the cyber insurance market.

Insurance 155
article thumbnail

Mitigating the impact of climate change in insurance and other financial services  

IBM Big Data Hub

According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well. As a result, their market would shrink.

article thumbnail

Organizations Reassess Cyber Insurance as Self-Insurance Strategies Emerge

Dark Reading

Risk reassessment is shaking up the cybersecurity insurance market, leading some organizations to consider their options, including self-insurance.

Insurance 101