Every business that maintains electronic data or systems is at risk of a cyberattack or data breach, which could significantly cripple business operations and reputation. In a highly digitalized world, cyber-risk mitigation is becoming increasingly critical.

Insuring cyber risk is a relatively new peril, lacking historical data on both the likelihood and cost of an event needed to underwrite and price coverage. Much uncertainty exists around how to create the best product for cyber defense.

In the face of increasing buyer demand and highly publicized cyber breaches, the insurance industry is focused on educating clients, addressing capacity and pricing issues, and responding quickly to keep pace with a constantly evolving threat.

All Cyber Items

New York Third-Party Service Provider Requirements
Cyber Watch | Jun. 6, 2019 | Cyber, New York DFS Cybersecurity Rule

The Council has been working on an approach to standardize the monitoring processes for agents/brokers that are considered to be third-party service providers (TPSPs) of the carriers (and vice versa) under New York’s Cybersecurity Regulation.

Surveying the Cyber Risk Landscape
Podcast | May. 29, 2019 | Cyber

Justin Oliver, Senior Director, Business Development for Employee Benefits, CyberScout Ann Barron-DiCamillo, Vice President of Cyber Threat Intelligence and Incident Response at American Express

What About Cyberterrorism?
Cyber Watch | May. 1, 2019 | Cyber, Cyber Insurance, Cyber Regulation

May 2, 2019 Should Zurich fail to prove any of the points in this article, NotPetya could be, in the court’s eyes, an act of criminality, or even of terrorism.

NotPetya: A War-Like Exclusion?
Cyber Watch | May. 1, 2019 | Cyber, Cyber Insurance, Cyber Regulation

May 2, 2019 In 2017, companies worldwide, from Ukrainian banks to Danish shipping conglomerate Maersk to US companies Merck and Mondelēz, were crippled by a malware attack targeting every existing

Q&A with Patrick Costello from Evolve MGA (Leader’s Edge)
Cyber Watch, Leader’s Edge, Podcast | Mar. 8, 2019 | Cyber, Cyber Insurance, Distribution

March 7, 2019 Michael Fitzpatrick, contributing editor at Leader’s Edge, sat down with Patrick Costello, a principal at Evolve MGA, to discuss how Evolve MGA is approaching the problem of

Privacy’s Perilous Path (Leader’s Edge)
Healthcare In Transition, Leader’s Edge | Mar. 7, 2019 | Cyber, Cyber Regulation, Cybersecurity

March 7, 2019 Legal use does not always equate to ethical use. Lots of things happened in 2018 that focused our attention on privacy. Facebook got everyone’s attention in March