Cyberattack Surge Creates Opportunity for Insurers, Prompts Rethink on Premiums

A recent surge in high-profile cyberattacks is offering an opportunity for insurers including Munich Re AG and Chubb Ltd. to cash in from a rapidly expanding market — and prompting a rethink on premiums.
As artificial intelligence makes attacks more widespread and devastating, Munich Re expects the global cyber insurance market to reach $16.3 billion in 2025, up from $15.3 billion in 2024. Global premium volume is expected to more than double to around $30 billion by 2030, growing at an average annual rate of more than 10%.

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The Verge

24 minutes ago

• The Verge

Tech billionaire's sunken superyacht raised from the sea.

Posted Jun 22, 2025 at 5:22 PM UTC Tech billionaire's sunken superyacht raised from the sea. The AP, CNN, and Reuters report that Italian authorities are continuing to investigate last year's sinking of Autonomy founder Mike Lynch's superyacht, Bayesian, during a storm last year that killed seven people, including Lynch. A salvage operation lifted the 184-foot from the seafloor this weekend, after first removing its 236-foot mast.

CNN

29 minutes ago

• CNN

How I used 7,000 Amex points to fly home from London this summer

CNN Underscored reviews financial products based on their overall value. We may receive a commission through our affiliate partners if you apply and are approved for a product, but our reporting is always independent and objective. This may impact how links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more. Flying to Europe in the peak summer travel season can cost a fortune. Cash fares can skyrocket, and award availability is often limited. But with the right transfer bonus and a bit of flexibility, you can unlock serious value from your travel rewards. This summer, I flew one-way from London Heathrow (LHR) to San Francisco (SFO) for just 7,000 American Express Membership Rewards points, a fraction of what most travelers would expect to pay. The key? A 30% transfer bonus from Amex to Virgin Atlantic Flying Club, which brought the required 9,000 Flying Club points down to just 7,000 Amex points. Here's exactly how I did it — and how you might be able to replicate the strategy next time a bonus like this rolls around. Related article These are our favorite credit cards for Delta flyers in 2025A post shared by Kyle Olsen (@kyleolsen10) Before you redeem your Amex points, you'll need to earn points. Here's a look at several of the best Amex card offers right now, which you can transfer to Virgin Atlantic Flying Club. American Express® Gold Card: Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. The Platinum Card® from American Express: Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. American Express® Business Gold Card: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership. The Business Platinum Card® from American Express: Limited Time Travel Offer: Earn 150,000 Membership Rewards® points after you spend $20,000 on eligible purchases on your Business Platinum Card® within the first 3 months of Card Membership. Plus, earn a $500 statement credit after you spend $2,500 on qualifying flights booked directly with airlines or through American Express Travel with your Business Platinum Card® within the first 3 months of Card Membership. You can earn one or both of these offers. Offer ends June 30, 2025. There are several different ways you can redeem your Amex points. While some card members may redeem their points directly in the Amex Travel Portal, they can also be transferred to various airline and hotel transfer partners, including Virgin Atlantic Flying Club. Virgin Atlantic Flying Club is one of the most underappreciated airline loyalty programs, especially for transatlantic flights in economy class. While major US carriers may charge 30,000 to 40,000 miles (or more) for a one-way flight between Europe and the US, Virgin Atlantic regularly prices economy award tickets from 6,000 points. I found availability from London to San Francisco for just 9,000 points plus £220 (around $300) in June, and it ended up being one of the best redemptions I've made all year. Credit card issuers like American Express Membership Rewards, Capital One Miles, Chase Ultimate Rewards and Citi ThankYou American Express often run limited-time transfer bonuses to their travel partners. In October 2024, there was a 30% bonus from Amex to Virgin Atlantic Flying Club. That meant every 1,000 Amex Membership Rewards points transferred would become 1,300 Flying Club points. I transferred 37,000 Amex points for various Virgin redemptions I had in mind, and those became 48,100 Flying Club points, thanks to the transfer bonus. In short, instead of needing to transfer the full 9,000 points, the transfer bonus would've only required me to transfer 7,000 Amex points, which would've yielded 9,100 Flying Club points after the 30% bonus. That was just enough to cover my flight. To put that in perspective, I got a 10-hour transatlantic flight for the equivalent of 7,000 Amex points, plus taxes and fees, which is a fantastic redemption, especially during peak travel season. I found that London to San Francisco flight by searching directly on Virgin Atlantic's website. That £220 (around $300) in taxes and fees is relatively high, as are all Virgin's fees on UK departures due to airport and fuel surcharges, but even with the cash spend factored in, this was an exceptional value. The process was simple: I located award availability on my preferred date. I transferred 7,000 Amex points to Virgin Atlantic Flying Club. Within minutes, the points posted, and I completed the booking. I flew in Virgin Atlantic Economy Classic, which includes the following. One 23-kilogram (50-pound) checked bag Standard seat selection at check-in Complimentary meals, drinks and entertainment The flight itself was smooth, and the service on board was friendly and efficient. While Economy Light fares are cheaper in cash, I appreciated the added benefits of Economy Classic, especially the included luggage. Even though this exact 30% transfer bonus has expired, Amex frequently offers new ones. Here's what to do if you want to replicate this redemption strategy. Monitor Amex transfer bonuses via your Membership Rewards account. Create a Virgin Atlantic Flying Club account (if you don't already have one). Search for award availability before transferring points. Remember: Amex transfers to Virgin Atlantic are instant but nonreversible. If you find a 9,000-point flight and a 30% bonus is active, you'll only need 7,000 Amex points. Otherwise, you'll need to transfer 9,000 Amex points, which is still a great deal. Using just 7,000 Amex points to fly from London to San Francisco was a smart, high-value redemption — and a reminder that timing matters in award travel. By combining a low-cost redemption with a limited-time transfer bonus, I got more than 8 cents per point in value, a rare feat for economy travel. If you're flexible with your travel plans and pay attention to transfer bonuses, redemptions like this are very possible. For business travelers, budget-conscious vacationers or anyone trying to stretch their points further, Virgin Atlantic Flying Club should be on your radar, especially when a points transfer bonus sweetens the deal. The following FAQs have been answered by CNN Underscored travel editor and credit card expert Kyle Olsen. How much are 100,000 Amex points worth for flights? How much are 100,000 Amex points worth for flights? 100,000 Amex Membership Rewards points are worth at least $1,000 when you redeem them for flights through Amex Travel, but you can get much more — up to $5,000 — by transferring to airline partners and booking premium cabin international flights. The value depends on how you redeem, but travel website The Points Guy values 100,000 Amex points at $2,000. Do Amex points ever expire? Do Amex points ever expire? Amex Membership Rewards points don't expire as long as you keep your account open, but you can lose them if you close all eligible cards, miss payments or violate program terms. We recommend keeping your account active and in good standing to retain your points. How do I use my Amex points most efficiently? How do I use my Amex points most efficiently? For the best value, transfer Amex points to airline partners to book premium cabin or international flights. Other options like hotel transfers, gift cards or statement credits usually offer less value. Booking through Amex Travel is easy, but it typically yields just 1 cent per point. CNN Underscored is your trusted source for credit card and travel rewards strategies because our editors don't just write about points; we use them. For this guide, travel editor and credit card expert Kyle Olsen shares his firsthand experience booking a real transatlantic flight using just 7,000 Amex points. Every detail is backed by real-world research, insider knowledge and a commitment to accuracy, so you can confidently apply these tips to your own travel plans. Click here for rates and fees of the American Express Gold card. Click here for rates and fees of the American Express Platinum card. Click here for rates and fees of the American Express Business Gold card. Click here for rates and fees of the American Express Business Platinum card. Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

The Verge

39 minutes ago

• The Verge

About that '16 billion passwords' data breach.

Passkeys: all the news and updates around passwordless sign-ins See all Stories Posted Jun 22, 2025 at 5:08 PM UTC About that '16 billion passwords' data breach. The original source of the report, Cybernews , says that since the start of the year, its researchers have 'discovered 30 exposed datasets containing from tens of millions to over 3.5 billion records each. In total, the researchers uncovered an unimaginable 16 billion records.' This isn't a breach of one company or another's systems, but compiled records, with some believed to be from 'infostealer' malware, as well as previous leaks. As Bleeping Computer points out, what you should be doing hasn't changed -- using unique passwords with a password manager, enabling two-factor authentication, and adding other forms of security like passkeys and security keys that can replace passwords altogether.