While describing cyber insurance as a “fashionable” and profitable business, Berkshire Hathaway’s head of insurance operations said aggregation and loss costs have kept the company away from the risk for the most part. Yes, profitability has been “fairly high” for …
Following two years of high but stable loss activity, 2023 has seen a “worrying resurgence” in ransomware and extortion claims as the cyber threat landscape continues to evolve, Allianz Commercial writes in a new report. The business insurance company’s analysis …
As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the current market that run in the billions …
Changes in the cyber insurance market are expected to bring challenges to claims departments, according to Tom Johansmeyer, assistant vice president at PCS, a division of Verisk Insurance Solutions. In an interview with Claims Journal, he explained that as the …
Beazley, a cyber and data breach response global insurance provider, released its Beazley Breach Insights findings based on its client data in the first six months of 2017. Ransomware attacks continued their rise in the first half of 2017, up …
Cyber risk can be technically hard to understand, according Marty Frappolli, senior director of Knowledge Resources for The Institutes. The damage to consumer data, complicated analysis on specific technologies involved in data breaches, and keeping up with court case rulings …