In response to increasing risks, insurers now offer cyber liability insurance. The product is particularly attractive to financial institutions and health care providers.
States reports tens of thousands of enrollments in first few days of public exchanges.
Hours after the Navy destroyer USS Cole was bombed in Yemen on Oct. 12, 2000, killing 17 American sailors and injuring 39, the families of members of Navy Federal Credit Union likely didn’t know that much more was going on behind the scenes on their behalf.
Insurance broker Marsh has launched a cyber-insurance-policy enhancement to deal with losses stemming from a failure of a cloud service provider.
With the NCUA turning up the heat on monitoring how CUSOs are conducting their operations, another area could be ripe for more scrutiny.
Included are coverage options for bonds, directors’ and officers’ liability, property, liability and workers’ compensation.