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Companies Face Challenges in Cyber Insurance Policies Increase in Premiums and Decrease in Coverage Companies are facing a difficult situation when it comes to their cyber insurance policies. As significant breaches and growing payouts have continued to make headlines, insurers have responded by raising premiums and granting less coverage. According to the “2023 State of…
The Dilemma of the CISO: Recognizing the Value of Cyber Insurance The No-Win Situation of CISOs CISOs (Chief Information Security Officers) face a challenging position within organizations, often lacking the recognition and authority needed to effectively protect the company’s digital assets. A recent survey conducted by Heidrick & Struggles, a human resources and management consulting…
Extent of Cyberattack on Philadelphia Inquirer Remains Unclear as Journalists Prepare to Cover Major Election The Philadelphia Inquirer, a reputable American newspaper, was hit by a cyberattack last week. The full extent of the attack, including who was behind it, what was targeted, and whether a ransom was demanded, remains unclear. The attack has disrupted…
# In-depth Report: Merck & Co. Insurers Liable for $1.4 Billion Losses Following Cyberattack The recent decision of the appellate court in New Jersey that the insurers for Merck & Co. cannot avoid liability for the pharmaceutical giant’s $1.4 billion in losses following a 2017 cyberattack is significant for many reasons. The case involved exclusions…