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Navigating the Complexities of Cyber Insurance

Data Breach Today

"Insurance is a tool," said Libby Benet, the global chief underwriting officer for AXA XL. When you buy an insurance policy, you are buying a network of professional crisis managers." In this episode of "Cybersecurity Insights," Benet discussed present and future cybersecurity insurance issues.

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Cyber-insurance – 72 hours for the insured party to file a criminal complaint: GDPR’s false friend

Data Protection Report

2] In this context, the Directorate General of the French Treasury has put forward a plan of action with a view to clarifying the cyber-insurance legal framework, better gauging cyber-risks, and enhancing companies’ awareness as regards cyber-risks. 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

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Cyber Insurers Quietly Remove Coverage for Social Engineering and Fraudulent Instruction Claims

KnowBe4

As cyber insurers become more experienced in what kinds of claims are being presented, and the threat action details therein, specific types of coverages are no longer being included.

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In the fragmented insurance landscape, let’s unify customer experience

Thales Cloud Protection & Licensing

In the fragmented insurance landscape, let’s unify customer experience divya Mon, 03/06/2023 - 06:13 You may think of an insurance company as a singularly-focused entity, offering protection for one product. However, the insurance business reaches across a disparate range of consumer products. To add to the challenge, a.s.r.

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HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost

Security Affairs

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. For those who have cyber insurance against ransomware attacks. But since the sneaky insurance agent purposely negotiates so as not to pay for the insurance claim, only the insurance company wins in this situation.

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On Cybersecurity Insurance

Schneier on Security

Good paper on cybersecurity insurance: both the history and the promise for the future. From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present.

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Survey data shows insurance consumers are clamoring for better digital experiences

DXC Technology

That’s certainly true when it comes to insurance, as evidenced by the findings of our recent consumer survey. Based on responses from more than 2,000 individuals in the United States, the 2020 DXC Insurance Survey Report presents […].