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Resilience Expands Cyber Insurance Portfolio with New Tech E&O Coverage for U.S. Businesses As reliance on technology grows, the need for comprehensive protection becomes more apparent. This has prompted cyber insurance provider Resilience to launch new Tech E&O coverage for midsize and large U.S. businesses. The coverage targets U.S. companies with annual revenues between $300 million and $10 billion. This new service complements Resilience’s cyber insurance solutions, offering up to $10 million for both primary and excess coverage. The initiative aims to help clients manage liabilities linked to their technology products and services, enhancing their cyber defense strategies. Read it: https://lnkd.in/ey86XPpr Watch it: https://lnkd.in/ebJRfWuu #cyberinsurance #cyberliabilityinsurance #cybersecurity

A panel at Insurtech Insights discussed why cyber insurance has now become ‘the most inaccessible’ product for SMEs, at a time when many businesses are prime targets for cyber attacks, reports technology editor Clare Ruel AXA Lockton Hiscox #GenNorton Simon Hayes #Cyber #SMEs #Commerciallines #Riskmanagment

Strategically investing in your cyber defense capability can help offset Insurance costs. This when followed via a solid policy, and included in the security baseline, will certainly help in raising the bar when performing due diligence and onboarding third parties. Risk averse companies invest in their cyber defense which not only protects them and helps maintain a strong security posture but also will play a crucial role when opting for a Cyber Insurance.

IAG to launch a new Cyber insurance underwriting agency! I read an interesting article over lunch today regarding the entrance of a new competitor in the cyber insurance space. The article will be in the comments below if you want to take a look. I found this article a very relevant and exciting read that highlighted to me how dynamic the insurance world can be. Additionally, it highlighted the growth opportunities in cyberspace and aligns closely with the excitement that I hear from candidates about this space. I would love to hear your thoughts about this market 😊 #generalinsurance #cyberinsurance #underwriting

TPRM Bytes: Cyber Insurance and Cyber Defense in the context of third-parties Third Parties can offset Cyber Insurance cost by investing in Cyber Defense that not only protect them but also the interests of their clients. #tprm #thirdpartyrisk #cyberinsurance #cyberdefense #supplychainrisk

It's an important conversation on both the infosec and financial sides. If the cyber insurance industry struggles, it complicates the options for risk management. The industry needs to develop a reasonable understanding of the technologies that are in play and their efficacy, but I have concerns about the possibility that they drift into the position of picking winners and losers. Thanks for being a guest, Daniel Kennedy!

I recently had the opportunity to join my colleagues Tom Mason and Scott Crawford on Eric Hanselman's Next in Tech podcast, to discuss underlying shifts in the cyber insurance landscape. Cyber insurance remains a sought after risk transference strategy for enterprise security leaders, but the market for acquiring insurance remains complex to navigate. Most of that complexity is due to the shift and growth in ransomware, from the opportunistic encryption of data and demands for payment for a decryption key, to focused multi-strategy monetized intrusions demanding eye-popping payments. The rise in such payments and related damages has led some insurance providers to decline to cover ransomware attacks, require specific attribution or declare certain attacks “acts of war” and thus outside coverage, or become increasingly specific about what’s covered. For 451 Subscribers, the data behind our recent cyber insurance user study: https://lnkd.in/eCArfQhh Also for 451 subscribers, our in depth look at ransomware, expectations versus reality: https://lnkd.in/evut-zjA And finally, for subscribers, Scott and Tom's four part series on the rise of cyber insurtech: - Bridging the gap between cybersecurity and insurance: https://lnkd.in/edZRQAWM - A segment emerges, with many alliances and adjacencies: https://lnkd.in/epfQDVPi - What are providers looking for?: https://lnkd.in/e5WbMZu5 - Navigating the way forward: https://lnkd.in/eChep5WN https://lnkd.in/eQ_eTgGW #cyberinsurance #ransomware #insurtech

The integration of cybersecurity and insurance efforts represents a rare business win-win-win scenario. Insurance companies benefit from reduced claims and financial stability, SMBs gain better protection and access to comprehensive insurance coverage, and end-users enjoy enhanced data security. By embracing this collaborative model, the industry can pave the way for a more secure and resilient digital future. #CyberSecurity #InformationSecurity #Insurance #InsuranceIndustry ETCIO South-East Asia Barnaby Page

Cyber defense is a team effort. The role of cyber insurance is being defined now. What are your thoughts on how the insurance industry can assist defenders secure networks and data while also influencing company leaders to make sound cyber decisions?

Insurance Business America reveals 2024's top cyber insurance companies! Learn how firms like Tokio Marine HCC are setting the bar high in the industry. Head of Cyber Tech Jacob Ingerslev talks about their winning strategies. https://hubs.la/Q02B8gdV0