Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

SEC Rule Impacts Cyber Insurance

August 15, 2023
Reading Time: 2 mins read
in News

 

The recent SEC cyberattack reporting rule has generated significant implications for public companies and insurers, potentially exposing them to regulatory probes and shareholder class actions. This rule, which outlines directors’ responsibilities in cybersecurity governance, has prompted concerns about insurance coverage for senior executives. The rule’s impact on director and officer (D&O) policies, potential exclusions for cyber incidents, and insurers’ underwriting practices are being closely scrutinized, signaling a shift in how cyber risks are addressed in the insurance industry.

Furthermore, under the new rule, directors’ roles and expertise in managing cybersecurity threats are now formally outlined by the SEC, setting the stage for possible enforcement actions and derivative claims from investors. This development has led to discussions around the need for more robust insurance coverage and potential exclusions related to cyber risks.

At the same time, the interplay between cyber insurance policies and D&O policies has come into focus, raising concerns that neither may fully cover legal costs arising from SEC investigations and investor lawsuits. As insurers adjust their underwriting practices, companies are urged to review and reassess their insurance programs to ensure comprehensive coverage.

Transparency brought about by the SEC rule is expected to have a transformative effect on how cyber risks are underwritten and managed. While the rule enhances insurers’ ability to make informed decisions based on disclosed cyber data, challenges persist due to the rapidly evolving nature of cyber threats. Companies are now compelled to provide detailed information about cyber incidents and security measures, potentially stabilizing cyber insurance prices by enabling insurers to verify application disclosures. Despite these efforts, the dynamic nature of cyber risks highlights the need for ongoing adaptation in insurance policies to address emerging threat vectors.

In conclusion, the SEC’s cyberattack reporting rule has triggered a reassessment of insurance practices in the face of increasing cyber risks. Companies, insurers, and regulatory bodies are navigating uncharted territory, seeking to strike a balance between adequate coverage and evolving threat landscapes.

Source:
  • Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure
Tags: August 2023Cyber NewsCyber News 2023CyberattackCybersecurityExecutivesSECUSAVulnerabilities
ADVERTISEMENT

Related Posts

NSA Veteran Takes Key US Cyber Command Role

Judge Warns Of PACER System Cyber Risk

June 27, 2025
NSA Veteran Takes Key US Cyber Command Role

US Charges Notorious Hacker IntelBroker

June 27, 2025
NSA Veteran Takes Key US Cyber Command Role

NSA Veteran Takes Key US Cyber Command Role

June 27, 2025
US Bill To Block Foreign Adversary AI

US Bill To Block Foreign Adversary AI

June 26, 2025
US Bill To Block Foreign Adversary AI

INTERPOL Reports Africa Cybercrime Surge

June 26, 2025
US Bill To Block Foreign Adversary AI

Google Gives AI Protocol To Linux Foundation

June 26, 2025

Latest Alerts

nOAuth Flaw Allows Easy Account Takeover

Unpatchable Flaw In Hundreds Of Printers

Open VSX Flaw Allowed Extension Hijacks

Fake Job Offers Hide North Korean Malware

New Malware Uses Prompts To Trick AI Tools

New Zero Day Flaw Hits Citrix NetScaler

Subscribe to our newsletter

    Latest Incidents

    Hawaiian Airlines Hit By Cyberattack

    Qilin Ransomware Gang Hacks Estes Freight

    Generali Customer Data Exposed In Hack

    Resupply DeFi Protocol Hacked For $9.6M

    Cyberattack Hits South Tyrol Emergency Ops

    UK’s Glasgow City Council Hit By Cyberattack

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial