Verily, the Alphabet Inc. life sciences unit that’s previously targeted mosquito-borne illness and launched Covid-19 testing programs, is getting into the health insurance business. Company announced a new subsidiary named Coefficient Insurance that will also be backed by Swiss Re Corporate Solutions, the commercial insurance unit of Swiss Re Group. The company will sell stop-loss insurance, […]
insurance
Multinational law firm DLA Piper was hit in the crossfire as Russia-backed ransomware spread, and Hiscox is reportedly declining to pay up citing an “act of war”. DLA Piper has started proceedings against Hiscox, saying that the insurance firm has failed to pay out for the damages and costs associated with the NotPetya attack – […]
The cyber insurance no longer is a novelty. Experts say that executives no longer have to justify the expense. In fact, if they don’t have it, they may well have some explaining to do. Insurance companies have reciprocated by nurturing the market. That has included playing nice when clients file claims. Carriers have paid with […]
Cyber insurance provider Coalition has announced new policies explicitly designed to cover fines and costs stemming from violations of the EU’s General Data Protection Regulation (GDPR). The policies are targeted primarily at small and midsize companies that handle data on or offer goods and services to EU residents. Policy limits range from $25,000 to $10 […]
Companies covered under the EU mandate can get policies for up to $10 million for fines, penalties, and other costs. However, questions about the availability of insurance for GDPR violations and the insurability of fines and penalties under the statute remain mostly unanswered nine months after the law went into effect. Full article: Insurer Offers […]
There are a few problems. The first is whether companies can insure against a court-awarded fine. The second is whether insurance companies can accurately price the risk. The third is whether, once you’ve secured insurance, it will actually pay out. Full article: Data breach insurance: A three-part problem
Insurers have called for clarity from global policymakers about the extent to which they can provide coverage for regulatory fines and penalties, such as those issued for breaches of the EU’s General Data Protection Regulation (GDPR). Source: Insurers seek clarity on coverage for GDPR fines
Without scrutiny, insurers and data brokers are predicting your health costs based on public data about things like race, marital status, your TV consumption and even if you buy plus-size clothing. The companies are tracking your race, education level, TV habits, marital status, net worth. They’re collecting what you post on social media, whether you’re behind […]
The US is one of the biggest markets for cyber insurance, but you won’t be able to take out a policy protecting you from fines for breaches of the EU General Data Protection Regulation (GDPR). The law, which strengthens EU residents’ rights relating to their personal data, applies to all organizations that collect or process […]