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Moody's Ratings: Cyber Insurance Competition Up, Prices Down

Data Breach Today

Credit Rating Business Says Cyber Insurance Market 'Poised for Significant Growth' Competition has been increasing in the cyber insurance market, leading to a "moderate" decrease in insurance premiums after several years of rate increases.

Insurance 295
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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 277
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Ransomware Hackers Steal Medical Insurance Data of 1M People

Data Breach Today

Young Consulting Says Health Data Exposed; Ransomware Group Leaked Stolen Data Young Consulting, which develops software for the stop-loss insurance market, is notifying 1 million individuals that their personal information was stolen earlier this year in a hack attack.

Insurance 305
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Merck settles with insurers regarding a $1.4 billion claim over NotPetya damages

Security Affairs

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 It is one of the largest pharmaceutical companies globally, engaged in the research, development, manufacturing, and marketing of a wide range of healthcare products. billion claim against the insurers.

Insurance 334
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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 281
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Hacker Who Stole Lawmaker Data From Insurance Market Charged

Data Breach Today

IntelBroker' Faces Four-Count Indictment in Manhattan Federal Court A hacker known online as "IntelBroker" and who has a history of spilling sensitive information faces a four-count criminal indictment in the United States after French police arrested him in February. IntelBroker's true identity is British national Kai West, U.S.

Insurance 147
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Cyber Insurance and the Changing Global Risk Environment

Security Affairs

When security fails, cyber insurance can become crucial for ensuring continuity. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

Insurance 251