Steel oil pipes from a refinery. (Getty Images) US businesses struggle to obtain cyber insurance, lawmakers are told Rising premiums and restrictive policies are creating uncertainty among American businesses about whether insurance policies will cover breaches. Jun 27, 2024 By Christian Vasquez
Photo by FABRICE COFFRINI/AFP via Getty Images Insurance giant settles NotPetya lawsuit, signaling cyber insurance shakeup Cyber insurance have already started to find other ways to avoid covering losses related to cyberattacks linked to nation-state hackers. Nov 4, 2022 By Suzanne Smalley
A spokesperson for National Grid ESO — Britain’s national electricity system operator — said the organization was investigating the incident. (Getty Images) The cyber insurance market has a critical infrastructure problem Rising cybersecurity risks are reviving questions about the ability of cybersecurity insurance to cover the risks of a catastrophic attack. Jul 11, 2022 By Tonya Riley
U.S. President Joe Biden speaks during a meeting about cybersecurity in the East Room of the White House on August 25, 2021 in Washington, D.C. (Photo by Drew Angerer/Getty Images) White House cyber summit with private sector nets impressive gains, but points to considerable work needed ahead "A couple folks have struggled with the idea that we're going to pat companies on the back for doing things they should already be doing," said one… Aug 26, 2021 By Tim Starks
Beach umbrella chains on Sand Paradise Beach at Nassau, West Indies. (Photo by A. T. Palmer/ClassicStock/Getty Images) Cyber insurance market encounters ‘crisis moment’ as ransomware costs pile up The woes within the industry could mean significant ramifications for policyholders. Aug 23, 2021 By Tim Starks
President of Japan’s insurer Tokio Marine Holdings, Tsuyoshi Nagano, speaks to the media in 2015. ( JIJI PRESS/AFP via Getty Images) Japan’s Tokio Marine is the latest insurer to be victimized by ransomware It's the third to announce a successful attack since March. Aug 17, 2021 By Tim Starks
(Getty Images) Two cyber insurance industry initiatives grapple with rise of ransomware CyberAcuView and the APCIA are two different answers to a phenomenon rocking the cyber insurance industry. Jul 6, 2021 By Tim Starks
A plume of smoke rises from the Ranch 2 Fire on August 15, 2020 in Azusa, California. The fire blackened at least 2,500 acres in the Angeles National Forest near Los Angeles but burned away from homes causing evacuation orders to be lifted on August 14. (Photo by Mario Tama/Getty Images) Insurer paid $65,000 to help a city unlock ransomware in 2018. A second hack was more expensive. The city of Azusa didn't disclose a payment in one incident, insurance paid up and now it's a victim again. Jun 7, 2021 By Tim Starks
Insurers are in the limelight following multiple high-profile ransom payments. (Getty Images) Cyber insurance premiums rise as ransomware, hacks continue, GAO finds More than half of cyber insurers surveyed said premiums rose by 10 to 30% in late 2020. May 21, 2021 By Sean Lyngaas
PARIS, FRANCE – MAY 22: The logo of the multinational insurance firm AXA office, at Matignon street, on May 22, 2020 in Paris, France. (Photo by Edward Berthelot/Getty Images) Ransomware strikes AXA shortly after insurer announces it will stop covering extortion fees AXA joins CNA Insurance as a recent ransomware attack victim in the insurance industry. May 17, 2021 By Tim Starks