The Register reports: The number of successful cyber insurance claims made by UK organizations shot up last year, according to the latest figures from the industry’s trade association. The Association of British Insurers (ABI) said £197 million ($259 million) in cyber insurance payouts were made to victimized organizations in 2024, up from £59 million ($77 […]
Insurance Business Magazine reports: A Texas woman has sued Goosehead Insurance Agency over a data breach that exposed sensitive customer information, alleging the company waited seven months to sound the alarm. Jayda Slaughter filed the proposed class action in federal court on October 24, claiming the national insurance agency’s network was infiltrated in early March […]
Farmers Insurance is facing negative attention and lawsuits because of a three-month delay in notifying 1.1 million policyholders about a data breach. H. Dennis Beaver, Esq writes: To paraphrase the notice (you can read it in full here): On May 30, 2025, one of our vendors informed us about suspicious activity of an unauthorized actor who […]
From Polsinelli PC: In two separate but related actions, third party administrators (TPAs) and their insurance business partners agreed to substantial settlements to resolve allegations that they failed to adequately safeguard sensitive data from cyberattacks. Though neither case involved a finding of fault, both spotlight a growing trend: plaintiffs and regulators are treating basic cybersecurity […]
From the New York Attorney General’s Office:
Insurance Business Magazine reports: The cyber insurance sector in 2025 is witnessing a shift in risk dynamics as large organisations strengthen their defences against cyber threats. Allianz Commercial’s recent Cyber Security Resilience Outlook indicates that enhanced cyber security measures and incident response protocols have helped major insured companies reduce the impact of significant cyber losses this year. However, […]
Cybernews reports: The Farmers Insurance Group is notifying 1,111,386 people that their personal information was exposed in a recent cyberattack earlier this year. The American insurance giant said it began sending breach notification letters about the May 29th “security incident” out of an “abundance of caution” on August 22nd. The breach may have involved the […]
There is an update to the previously reported breach affecting Allianz Life customers. Bleeping Computer reports: Hackers have stolen the personal information of 1.1 million individuals in a Salesforce data theft attack, which impacted U.S. insurance giant Allianz Life in July. Allianz Life has nearly 2,000 employees in the United States and is a subsidiary […]
Insurance Business Magazine reports: …. Matthew Geyman managing director at Intersys, said the move signals a more rigorous approach to tackling ransomware and could reshape the insurance sector’s handling of cyber risk. “As attackers – often serious organised crime – shift focus to the private sector, insurers must reassess underwriting strategies to ensure organisations demonstrate […]
CP24 reports: The City of Hamilton will be on the hook for the more than $18 million it has cost to recover from a ransomware attack after their insurance claim was denied. In an update presented to a city committee on Wednesday, staff said that its insurer denied the claim for reimbursement of costs related […]
