Tag: cyber attacks

Cyber insurance more affordable as headline hacks dwindle

G. Turner
Cyber Insurance

As the hype over high profile data breaches subsides for a while, the premiums for coverage have fallen. Cyber insurance companies have responded to a lull in the occurrence of high profile hacks by slashing the rates they are charging to businesses such as health care companies and retailers to cover them against data breaches. This trend has been continuing throughout the first quarter of the year and has prompted insurers to cut rates. Over the last handful of years, particularly over the last couple, there have been some extremely…

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Cyber insurance is catching the attention of the federal government

Marc
cyber insurance confusion computer

Subcommittee aims to address issues facing the cyber protection space Cyber security is beginning to gain the attention of the U.S. federal government. The House Homeland Security’s cyber security subcommittee has held a hearing concerning the challenges facing the cyber insurance space. A recent report predicted that this market would reach $7.5 billion in annual premiums by 2020, making it one of the fastest growing insurance segments in the world. The need for cyber protection, on the insurance level, is becoming more apparent, especially as digital attacks become more common.…

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Utilities are showing more interest in cyber insurance protection

S.Vagus
Cyber Insurance Coverage

Utilities in the United States may need insurance coverage to protect against digital threats Utilities in the United States are beginning to express concern over digital risks following cyber attacks that were seen in Ukraine in December 2015. As such, these companies are beginning to look into new cyber insurance policies, which may be able to offer them a degree of protection against digital threats. Malicious groups could do significant damage to a country’s energy infrastructure through a cyber attack and utilities are looking for ways to ensure that this…

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Insurance industry would prefer data security to tech innovation

Julie Campbell
home security cybersecurity insurance industry

Cybersecurity is already among the top trends in many markets but especially among insurers. As the year is launched with the announcement of all new forms of technology, such as those being demoed at the Consumer Electronics Show (CES), the insurance industry is hoping that a larger focus will be placed on cybersecurity and data security. A number of high profile data breaches occurred throughout 2015, including among large insurance companies. Following the data breaches of health insurers Anthem and Premera, the insurance industry was given the evidence it needed…

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Demand for cyber insurance rises throughout Europe

Julie Campbell
cyber insurance theft biometrics

As digital attacks and data breaches spread like wildfire, European companies are aiming to protect themselves. New legislation in the European Union with regards to data privacy is giving a considerable shot in the arm to the cyber insurance industry, say specialists in that market, particularly following some very high profile attacks on companies such as Experian and TalkTalk earlier in 2015. Last week, the E.U. agreed that its data protection laws needed to be changed from their previously fragmented state. The new laws will require companies to report data…

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