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Log4J, a new critical vulnerability is the latest cyber security risk nightmare to shakeup the cyber insurance industry. Indeed, the cyber insurance industry has been in a highly vulnerable state since Covid-19 began, and due to ongoing ransomware demands, SolarWinds, Microsoft Exchange and now the discovery of the Log4J vulnerability. This is why cyber insurance premiums have …
Ransomware attacks, the increase of remote worker cyber and data security risk exposures, and security vulnerabilities have shaken up the cyber insurance industry. This has increased the demand for cyber insurance, limited carrier's capacity and has caused higher rates due to the high volume of claims all carriers are dealing with. Most cyber insurance policies have …
Continue Reading about The Supply and Demand of Cyber Insurance →
Long gone are the days of five-question cyber insurance applications, low premiums, and too many cyber insurance options to choose from. If your company has just renewed a cyber insurance policy, there were certainly many surprises that made the renewal process much more difficult this year. Longer renewal applications and supplemental ransomware applications needed to be …
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Companies are more challenged with cyber risk than ever as most cyber attacks now involve ransomware demands in which attackers choose targets without regard to location or sector. Indeed, robust cyber security measures remain vital as cyber insurance is not a panacea nor was it designed to be a replacement to pick up cyber security slack. According to a recent S&P …
Continue Reading about Inadequate Cyber Insurance is a Potential Credit Rating Exposure →
Cyber risk is no longer a relatively new issue and hasn’t been for a number of years. However, many organizations, both in the public and private sector, until several recent events that have occurred since November 2020, have viewed cyber risk as a relatively new issue. Fortunately, the consensus is that cyber risk can no longer be viewed as an immature risk and must be taken …
Continue Reading about Cyber Insurance Key Takeaways from the New Cyber Security Executive Order →
