(Image by Mohamed Hassan/Pixabay) CISOs can now obtain professional liability insurance A new business insurance offering can shield CISOs from personal losses in the event of a lawsuit. Nov 20, 2024 By Greg Otto
People fish along the dam at the Castaic Lake reservoir in Los Angeles County on May 3, 2022 in Castaic, California. (PHOTO: Mario Tama/Getty Images) Water companies are increasingly uninsurable due to ransomware, industry execs say The scope of what insurers are covering is also narrowing as costs go up, said an association representative. May 18, 2022 By Suzanne Smalley
(Wikicommons) Ransomware demands are up more than 500%, the latest concern for insurers The figures published by Allianz represent the latest glimpse into how ransomware attacks are becoming exponentially more expensive. Oct 15, 2021 By Jeff Stone
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
U.S. President Joe Biden speaks during an event in the East Room of the White House on August 23, 2021 in Washington, D.C. (Photo by Drew Angerer/Getty Images) Apple, JPMorgan Chase bosses among industry heads set to gather at White House for cyber ‘call to action’ The administration expects to make "concrete announcements" about tackling root causes of cyberattacks, a senior official said. Aug 25, 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
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