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Insurance and Insurtech News Headlines Update on December 30, 2020

Transmosis CyberOPS and Cysurance have launched a fully integrated bundled cybersecurity liability insurance product coverage with CyberOPS A.I. software and 24/7 live virtual Security Operations Center to enhance small businesses’ protection against cyber attacks and reduce overall cyber liability and financial risk. CyberOPS acts as an outsourced cybersecurity team that will automatically send forensic data to Cysurance’s claims platform to support reimbursements where a smart contract records it in a blockchain and expedites claim settlements. CyberOPS said it has negotiated lower insurance coverage amounts and rates on a monthly subscription basis. #cyberinsurance #cyberrisk #cybersecurity #ransomware #MSP #SMB

The All England Lawn Tennis Club (AELTC) announced the cancellation of the 2020 Wimbledon Championships, an estimated payout for the cancellation to be in excess of £100 million. Club’s risk and finance sub-committee as having insisted on getting epidemics coverage, paving the way for Wimbledon’s insurance policy to be upgraded with the clause some years back. AELTC is in the process of putting together the claim. Read more at Cancellation of The Championships 2020