Schneier on Security
JULY 1, 2021
Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals.
Joseph Steinberg
JULY 8, 2021
Ironically, while many larger enterprises purchase insurance to protect themselves against catastrophic levels of hacker-inflicted damages, smaller businesses – whose cyber-risks are far greater than those of their larger counterparts – rarely have adequate (or even any) coverage. Insurance is, therefore, always needed.
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Schneier on Security
SEPTEMBER 10, 2019
Good paper on cybersecurity insurance: both the history and the promise for the future. From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present.
Joseph Steinberg
AUGUST 5, 2021
While leveraging cyber-liability insurance has become an essential component of cyber-risk mitigation strategy, cyber-liability offerings are still relatively new, and, as a result, many parties seeking to obtain coverage are still unaware of many important factors requiring consideration when selecting a policy.
Schneier on Security
JANUARY 25, 2022
The insurance company Ace American has to pay for the losses: On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute. Merck suffered US$1.4 Merck suffered US$1.4
The Last Watchdog
JANUARY 20, 2020
To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.
Lohrman on Security
JANUARY 8, 2023
There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage?
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