Insurance companies are exploring cyber catastrophe bonds to offload the risk of large-scale cyberattacks. Such bonds, typically used for natural disasters, provide double-digit returns to the investor if the catastrophe doesn’t occur. Insurer Beazley is reportedly planning a $100m cyber catastrophe bond, while Axis Capital plans a $75m bond. Limited historical data increases the risk for the investor. The market for catastrophe bonds is set to reach $40bn this year.
High-severity vulnerability in Passwordstate credential manager. Patch now.
The maker of Passwordstate, an enterprise-grade password manager for storing companies’ most privileged credentials, is urging them to promptly install an update fixing a high-severity
