Loss Trends in Cyber Liability Insurance Webinar
First-party cyber coverage protects against direct company losses including breach notification costs, forensic investigations, ransomware payments, and data restoration.
Business email compromise, increasingly severe ransomware attacks like Dark Angel targeting public companies, and persistent wire fraud continue to be prominent cyber threats requiring stringent security measures.
Wire transfer fraud is a form of cybercrime where criminals impersonate executives to request fraudulent wire transfers, sometimes using deep fake technology to make their impersonation more convincing.
Businesses without adequate cyber liability coverage risk bearing full financial responsibility for data breaches, potentially facing legal consequences from shareholders and other stakeholders.
Cyber liability policies typically cover ransomware attacks, system outages, business interruption losses, and associated costs for investigation, legal assessment, threat response, and customer communication.
