On November 30, the United States House of Representatives passed the Strengthening State and Local Cyber Crime Fighting Act which authorizes the Department of Homeland Security (DHS) to establish a
As cyber-attacks on high-profile businesses are occurring more often every day, both large and small businesses are investing in cyber insurance. This investment would mitigate risk if data is hacked
While Marsh claims that they have seen an increase in clients purchasing cyber insurance, The American Enterprise Institute claims that the market still remains largely untapped. Many companies are hesitant
Raytheon-Websense has released a report which predicts that cyber insurance will lead to better security. According to the report, even the basic requirements for taking out a cyber-insurance policy will
Moody’s released a report entitled, Cyber Insurance: High-Risk Product With Potential to Grow, which describes the growing cyber insurance market. More than 50 insurers offer stand-alone cyber coverage globally, and additional carriers
“The liability landscape is growing more complex as a result of the Internet of Things,” says Rudi H. Spaan, president and CEO of AIG Insurance Hong Kong Ltd., a unit of
Lloyd’s is requiring all syndicates to conduct a review and analysis of their cyber risk aggregation. Lloyd’s issued a bulletin on November 9, defining the term “cyber attack” and outlining the
Three men have been charged with perpetrating the breach of JP Morgan Chase last summer, among other crimes. Two men are being held in Israel and one, a US citizen,
The Department of Homeland Security (DHS) and the Financial Services Information Sharing and Analysis Center (FS-ISAC) are forging ahead with a public-private cyber threat information sharing mechanism, not waiting for
A group of 47 business organizations has sent a letter to Congressional leaders urging them to remove a section from the Senate’s Cybersecurity Information Sharing Act (CISA) that they say
