As you may know, the cyber insurance market has been hardening due to the recent increase in threats, specifically ransomware attacks. In order to stem losses, insurance carriers  are increasing technical requirements and raising premiums. According to a senior analyst at Forrester, premiums grew 18% in Q1 of 2021 then up to 34% Q4 of […]

In today’s digital age, war also means cyber-war.  Russia’s invasion of Ukraine is likely to result in a multitude of cyber-attacks and many cyber coverage battles. Email attacks from Russia are already on a surge and carriers are carefully looking over their coverage and preparing for this cyber-war. “War exclusion” or “hostile act exclusion” generally […]

Why geopolitics matters even if you’re not a target Recent conflicts show cyber can create regional events with global blast radius—for example, the Viasat KA-SATsatellite attack timed to the start of Russia’s invasion disrupted service across parts of Europe and Ukraine and was formally attributed to Russia by the EU and allies. Spillover like this can affect […]

As cyber losses increase and negatively impact insurance carriers and their loss ratio, Lloyd’s of London is proposing to exclude certain coverage from their cyber-insurance policies. The company stated that it will no longer cover any losses that result from “cyber -war”. Cyber-war is a cyber-operation that disrupts the activity of a state or organization. […]

As some of you may have heard, IKEA recently experienced an alleged supply chain phishing attack, BleepingComputer reports. This attack targeted internal mailboxes and there are suspicious emails being sent from compromised IKEA organizations and partners. Supply chain phishing attacks can be extremely harmful to an organization’s reputation and credibility because the suspicious emails come from […]

CISA (The Cybersecurity and Infrastructure Security Agency) is warning organizations that Russia’s invasion of Ukraine could include malicious cyber activity against the U.S. and stated that “evolving intelligence indicates that the Russian Government is exploring options for potential cyberattacks.”

Managed Service Providers  (MSPs) are highly attractive to small and medium sized business as they often face lack of funding, quickly changing technologies, increased requirements, and lack of IT trained employees. From a security standpoint, MSPs can greatly benefit these businesses. However, MSPs are not only attracting new clients. Over the past year, as many […]

When the time comes to renew your tech E&O and cyber insurance, be sure to be sitting down when you receive your renewal terms. When it comes to insuring Managed Service Providers, carriers are taking their gloves off. Over the past 18 months, events like Solar Winds, Kaseya, and Microsoft Exchange, have heightened the concern […]