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

Google Realeases Critical Chrome Update

Police Disrupt Diskstation Gang

July 16, 2025
Google Realeases Critical Chrome Update

China’s Salt Typhoon Hacked US Guard

July 16, 2025
Google Realeases Critical Chrome Update

Abacus Dark Web Market Exit Scam

July 16, 2025
Hacker Returns GMX Crypto For Bounty

Hacker Returns GMX Crypto For Bounty

July 15, 2025
Hacker Returns GMX Crypto For Bounty

Sinaloa Cartel Hired Cybersnoop For FBI Kill

July 15, 2025
Hacker Returns GMX Crypto For Bounty

UK Launches Vulnerability Research Program

July 15, 2025

Latest Alerts

Google Realeases Critical Chrome Update

Interlock deploys new PHP RAT via FileFix

Android Malware Konfety Evolves

NCC Urges Windows 11 Upgrade Cyber Defenses

FBI Seizes Multiple Game Piracy Sites

XORIndex Malware DPRK npm Attack

Subscribe to our newsletter

    Latest Incidents

    Albemarle County Ransomware Attack

    Fitify Leaks 138K User Progress Photos

    Millions Affected By Episource Data Breach

    Elmo Impersonator Posts Antisemitic Content

    PET Imaging Phishing Attack Hits

    Louis Vuitton Data Breach Global Impact

    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