Cyber Risk & Insurance

A company can have multifactor authentication, endpoint detection, encrypted databases, secure cloud infrastructure and sophisticated cybersecurity monitoring—and still lose millions of dollars because one employee believed the wrong person. That is what makes social engineering fraud different from many traditional cyber threats. The attacker does not always need to break through a firewall. Sometimes the … Read more

Data privacy risk has moved far beyond the traditional scenario of a hacker breaking into a database and stealing customer information. A modern company can face privacy liability even when no ransomware is deployed, no server is encrypted and no malicious attacker enters its network. A website may collect information through tracking technologies. A mobile … Read more

A company can invest heavily in cybersecurity and still experience a major cyber loss because of a business it does not control. Its cloud provider can fail. Its managed service provider can be compromised. A software supplier can distribute a malicious update. A payroll provider can suffer ransomware. A customer-support platform can expose confidential information. … Read more

Artificial intelligence is changing the risk profile of technology companies faster than many traditional insurance programs were originally designed to anticipate. A software company can now provide an AI assistant that generates customer-facing content. A financial technology platform can use machine learning to detect transactions. A SaaS provider can embed an AI agent capable of … Read more

Modern businesses can lose access to critical technology without experiencing a cyberattack inside their own network. A cloud infrastructure provider can become unavailable. A payment processor can experience an outage. A payroll platform can stop responding. A customer relationship management system can fail. A managed service provider can experience ransomware. A software-as-a-service platform can suffer … Read more

Business Email Compromise has become one of the most financially dangerous cyber risks facing modern businesses because attackers do not necessarily need ransomware, sophisticated malware or a major network intrusion to cause a substantial loss. In many cases, they need only one convincing email, a compromised mailbox, an impersonated executive or a fraudulent request that … Read more

Ransomware insurance has become an important part of the cyber-risk conversation for small businesses because a modern ransomware incident can create far more financial damage than the ransom demand itself. A serious attack can stop normal business operations, encrypt critical systems, expose confidential information, trigger forensic investigations, require legal assistance, disrupt revenue, create customer-notification obligations … Read more

Software-as-a-Service companies operate in an unusual risk environment. They do not simply develop software and hand it to customers. They continuously host, update, maintain and deliver technology that customers may depend on every hour of the day. A SaaS platform may process customer transactions, store business records, automate workflows, manage financial information, connect multiple cloud … Read more

Technology businesses face a combination of risks that traditional companies did not always need to consider. A software platform can experience a security breach. A cloud application can become unavailable. An IT consultant can make a configuration mistake that disrupts a customer’s network. A managed service provider can be accused of failing to properly secure … Read more

Cyber insurance has moved from being a specialized product considered mainly by large corporations to becoming an important risk-management consideration for smaller organizations that depend heavily on digital systems. A small business may operate with only a handful of employees while still relying on cloud accounting, online banking, customer databases, payment platforms, business email, SaaS … Read more