cyber risks News
Hannover Re Transfers Cyber Risks to Capital Markets via Proportional Reinsurance
Hannover Re has developed an additional retrocession tool that for the first time enables the capital markets to participate directly in coverage of its cyber risks through a quota share cession. ...
Lloyd’s Insurers Must Exclude State-Backed Cyber Attacks to Avoid Systemic Risks
Lloyd's insurers must exclude state-backed cyber attacks in standalone (or affirmative) cyber policies, according to a Lloyd's market bulletin issued this week. The exclusion would include liability ...
TSA Wants Major Rail, Air Companies to Report Hacks and Hire Cyber Chiefs
The Transportation Security Administration will introduce regulations that compel the most important U.S. railroad and airport operators to improve their cybersecurity procedures, Homeland Security ...
There’s Some Progress in the Global Battle to Reduce Cyber Risks: Aon
Despite the worsening cybersecurity climate, there's been some global progress in developing strategies to reduce risk, a new Aon report asserts. "We are seeing a new level of collaboration between ...
Shockingly High Hacking Risks for U.S. Water, Power Cyber Networks
When the Los Angeles Department of Water and Power was hacked in 2018, it took a mere six hours. Early this year, an intruder lurked in hundreds of computers related to water systems across the U.S. ...
Hackers Stole a Single Password to Disrupt Colonial Pipeline
The head of Colonial Pipeline told U.S. senators on Tuesday that hackers who launched last month's cyber attack against the company and disrupted fuel supplies to the U.S. Southeast were able to get ...
Short Seller Muddy Waters Accuses Lemonade of Neglecting Website Security Vulnerability
Lemonade co-founder Shai Wininger is denying accusations from an activist short seller that the insurer's website has a serious security vulnerability. Muddy Waters Capital claims in a May 13 open ...
Federal Ransomware Advisories Create Cyber Insurer Exposure Risks
As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various methods cyber attackers are using, ransomware has continued to steal the ...