A ransomware attack forced the Colonial Pipeline to halt systems for 5,500 miles of pipeline, cutting off crucial gas supplies on the East Coast.

A recent ransomware attack on the Colonial Pipeline left much of the Eastern U.S. in fear of serious fuel shortages. This attack highlights inconsistencies and weakness within the U.S. IoT cyber security capabilities.

The threat of cyber attack and ransomware is growing for the manufacturing sector, but insurers are getting ahead now to curb the risk.

Sudhakar Ramakrishna hadn’t officially started with SolarWinds when the company learned it suffered one of the largest data breaches in history — affecting Fortune 500 companies and top government agencies.

The COVID-19 pandemic exacerbated the threat and likelihood of cyber security breaches for organizations, Munich Re’s 2020 cyber risk report found. Despite the growing risk of cyber attacks, companies and organizations are still not utilizing cyber coverage to its fullest advantage.

Coalition CEO Joshua Motta shares his views on the evolution of cyber insurance, insurance regulation and a number of additional topics with Risk & Insurance.

A compilation of the latest announcements, partnerships and products that are likely to have an impact on the insurance industry today.

All segments of retail have been impacted by the pandemic, albeit in different ways, leaving the retail marketplace is in a state of flux.

As supply chains continue to lean into a digitized marketplace, it is imperative that risk managers view every potential threat that could manifest into a true cyber catastrophe.

Insurers have always had access to mountains of data but are now being asked to process it at unprecedented speeds that most simply cannot meet. Enter AI.

Preventing cyber attacks from interfering with the 2020 election was a triumph, but it’s not time for a cyber security victory lap quite yet.

Even as cryptocurrency becomes more widely accepted, lack of insurance capacity could stall its upward trajectory.

This year, six brokers from across the brokerage field were named as the 2020 Cyber Power Broker winners. An additional two brokers were named as finalists.

A compilation of the latest announcements, partnerships and products that are likely to have an impact on the insurance industry today.

Telehealth is likely to remain a main avenue for receiving health consultations. It is also likely to experience hiccups along the way. Insurers need to accept both realities. 

It will come as no surprise to learn that the COVID-19 pandemic was by far the biggest concern for the respondents to the WEF’s annual survey.

In their annual risk report, Allianz reported that the risk of pandemic outbreak skyrocketed to the top of 2020’s largest risks. Other risks that are usually ranked high, including business interruption and cyber risk, became even more prominent amid COVID-19. 

Cyber security breaches have emerged as a top risk for businesses and companies alike. Insurance policies can provide a wide range of coverage for these types of losses. 

If 2020 has taught us anything, it is that risk does not discriminate, it does not care about economic status, race, gender, or nationality. To face the new level of complex risks and uncertainties facing our global markets, more innovative and resilient risk management models are needed in 2021 and beyond.

In a year of economic and political uncertainty, insurance can help tech companies feel secure enough to continue innovating.