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Fitch Ratings: US Cyber Premium Growth Slows in 2023
May 17 2024 // The U.S. cyber insurance market saw what Fitch Ratings called an unexpected 1% decline in direct written premiums in 2023 following a 160% increase from 2020 to 2022. According to Fitch Ratings’ U.S. Cyber Insurance...
SEC Updates Customer Data Hacking Rules for Wall Street
May 17 2024 // Wall Street’s top regulator on Thursday said it had updated rules to ensure investment companies and others work to detect and respond to hackers’ theft of customer data. The changes, approved unanimously by...
CyberTrust Massachusetts Launches Cybersecurity Services for Cities and Towns
May 17 2024 // The nonprofit CyberTrust Massachusetts recently launched cyber assessment and monitoring services to help cities and towns in the state address the trend of escalating cyber attacks, ransomware, infrastructure disruption...
Ransomware Frequency Up 64% on Remote Access Tools, Says At-Bay
May 16 2024 // A 64% jump in ransomware claims in 2023 is driven by an explosion in “indirect” ransomware incidents, up over 415% in 2023, with remote access tools accounting for 58% of attacks. The year-over-year increases...
People Moves: Front Street Re Appoints Fong as CEO; Carmichael Beazley’s New Head of US Cyber
May 16 2024 // Edison Fong Front Street Re, an operating subsidiary of Lexasure Financial Group Limited headquartered in Georgetown, Cayman Islands, appointed Edison Fong as CEO. Before joining Front Street Re, Fong was a director at...
Markets/Coverages: Coalition Enters Excess Cyber Insurance Market in Australia
May 15 2024 // Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it entered the excess cyber insurance market in Australia, enabling businesses to add a layer of risk management to their...
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