Distinguished Blog - Cyber Liability
Market insights and industry news.
Cyber Liability Insurance: A Quick Rundown from Distinguished
In 2023, the largest risk to global business wasn’t supply chain issues, energy shortages, or climate change — it was cybercrime. Cybercrime has quickly become a global menace for businesses that will cost companies an estimated $9.22 trillion in 2024. Due to this growing vulnerability, it’s more important than ever that businesses and organizations protect…
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Cyber Security is All About People, Not Computers
January 27, 2015 was not a good day for the health insurance company Anthem. That morning a computer system administrator discovered that someone was using his security credentials to log into the company system. Over 80 million people had their names, social security numbers, and other sensitive information stolen in the breach. Not a good…
Are Your Clients Covered for a Hotel Security Breach?
Hyatt reported earlier this year that the hotel chain suffered a massive data breach that affected about 250 of their hotels in 50 countries over the course of almost four months. Ouch. This Reuters article shows that this type of incident is becoming all too common in the hospitality industry, with Hilton Worldwide Holdings Inc.,…
2016: The Year of Cybersecurity?
As we think about trends for 2016—particularly those that technology will bring—there’s lots to be excited about: artificial intelligence and robotics replacing repetitive tasks, drones making deliveries, augmented-reality headsets enhancing our ability to visualize, along with several other trends mentioned in this recent BBC article. But, as technology guides us deeper into our mobile phones and…
A New Product for Cyber Liability Coverage
We recently sat down with Distinguished Specialty’s Chief Operating Officer, James Flynn, to talk about a brand new insurance product on the Distinguished Speciality menu: Cyber Liability. For those keeping up with the news, you’ve read the headlines: data breaches, network hacks, business interruption by criminals seeking proprietary or confidential information. The risk of a…
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