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SC Gov Signs Insurance Data Security Bill
South Carolina Gov. Henry McMaster (R) signed the South Carolina Department of Insurance Data Security Bill into law...
Insureds Increasing Cyber Limits on Renewal
The Council of Insurance Agents & Brokers (CIAB) “Cyber Insurance Market Watch Survey” reveals that the average cyber policy limit in the last six months has ...
Study: Major Cloud Outage Could Cost $15 Billion
A study from Lloyd’s of London and AIR Worldwide reveals that a failure at just one top cloud service provider could cost the U.S. economy up to $15 billion, ...
Cyber Insurance Grew 35% in 2016
According to reports by A.M. Best and Fitch, property and casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 ...
In UK, Big Fines for Failing to Address Cyber Risk
According to a recent report, businesses in Britain could be fined up to £17 million ($23.9 million) if they fail to have the “most robust” safeguards in place ...
Cyber Keeps Surging, Says Fitch
Cyber insurance coverage is one of the insurance industry’s fastest-growing segments, representing a “significant growth opportunity” for US property and ...
Cyber Hacks Cost U.S $109 Billion in 2016
Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, according to a new report by the White House’s Council of Economic ...
Massive Equifax Hack and Its Effects
Equifax, one of the nation’s three major data collection agencies, announced on Sept. 7 that hackers accessed the private information of about 143 million ...
Cyber Insurance Rates Drop
A report from Marsh has found that cyber insurance rates and prices in the United States declined in the second quarter of 2017, the second straight quarter ...
RIMS Survey on Cyber Risk
The 2017 RIMS Cyber Survey of 288 members reveals that organizations are buying more cyber insurance and spending more on cyber risk best practices...
Protect Your Agency From Major Worldwide Cyber Attack
A ransomware worm stopped factories, hospitals, shops, and schools across the globe over Mother's Day weekend, and some fear it could cause further ...
Draft of Cybersecurity Model Law Released
The National Association of Insurance Commissioners’ Cybersecurity Task Force has released a revised draft of the Insurance Data Security Model Law...
NAIC Advances Cybersecurity Model Law
At its summer National Meeting in Philadelphia, the National Association of Insurance Commissioners passed its Insurance Data Security Model Law through both ...
Identity Thieves Target Annuities
The Colorado Division of Insurance has issued a consumer alert saying that consumers who own annuity products through insurance companies should be on the ...
Agents Can Help Clients with Cyber Concerns
Organizations of any size are vulnerable to an expanding array of cybercrimes, any of which can interrupt or destroy a business, including ransomware attacks, ...