In May, London-based CFC Underwriting announced that it had named James Burns as head of cyber. Mr. Burns now heads a team of more than 50 underwriters who are devoted to underwriting cyber risk for large corporate clients and SMEs.
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.
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.