I had not heard about this case before. Zurich Insurance has refused to pay Mondelez International’s claim of $100 million in damages from NotPetya. It claims it is an act of war and therefor not covered. Mondelez is suing. Those turning to cyber insurance to manage their exposure presently face significant uncertainties about its promise. … Read More “Cyberinsurance and Acts of War” »
Category: insurance
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Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. Companies like retailers, banks, and healthcare providers began seeking out cyberinsurance in the early 2000s, when states first passed data breach notification laws. But even with 20 years’ worth of experience and claims data in … Read More “Cybersecurity Insurance” »
New paper: “Policy measures and cyber insurance: a framework,” by Daniel Woods and Andrew Simpson, Journal of Cyber Policy, 2017. Abstract: The role of the insurance industry in driving improvements in cyber security has been identified as mutually beneficial for both insurers and policy-makers. To date, there has been no consideration of the roles governments … Read More “A Framework for Cyber Security Insurance” »
There’s a really interesting new paper analyzing over 100 different cyber insurance policies. From the abstract: In this research paper, we seek to answer fundamental questions concerning the current state of the cyber insurance market. Specifically, by collecting over 100 full insurance policies, we examine the composition and variation across three primary components: The coverage … Read More “Analyzing Cyber Insurance Policies” »