CSO Magazine

DECEMBER 6, 2022

As the frequency and severity of ransomware, phishing, and denial of service attacks has increased, so has demand for cyber insurance. billion in direct written premiums were recorded in 2021, a 61% increase over the prior year, according to an October 2022 memorandum from the National Association of Insurance Commissioners.

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Cyber Insurance Insurance Phishing Ransomware 121

SC Magazine

MARCH 24, 2021

Insurance firm CNA Financial, a prominent provider of cyber insurance, confirmed a cyberattack against its systems, which has some concerned that cybercriminals may target policyholders. Moreover, understanding the “scope of the incident, with the type and volume of data impacted, is paramount when a cyber incident occurs.

Cyber Insurance 128

Cyber Insurance Insurance Hacking Ransomware 128

Security Boulevard

FEBRUARY 9, 2022

The costs and impacts of the SolarWinds breach were a wakeup call for third-party software vendors and their insurers. By the end of 2021, SolarWinds had spent more than $40 million on response and repairs, according to an end of year analysis by Cybersecurity Dive.

Cyber Insurance 98

Cyber Insurance Insurance Software Cybersecurity 98

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

Cyber Insurance 100

Cyber Insurance Insurance Risk Technology 100

Malwarebytes

APRIL 27, 2022

Personal insurance plans are slowly becoming a more visible and talked about topic. I’m fascinated to see talk of personal cyber insurance , in an area dominated by business. The plans referenced in the article are for people seeking cyber insurance in India. A brave new world, or same-old same-old?

Cyber Insurance 92

Cyber Insurance Insurance Backups Cryptocurrency 92

SecureWorld News

MAY 26, 2021

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

Cyber Insurance 74

Cyber Insurance Insurance Cyber Risk Marketing 74

SC Magazine

MAY 24, 2021

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

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Cyber Insurance Insurance Marketing Cyber Risk 94

Security Boulevard

JUNE 1, 2022

cyber insurance carriers in 2021 rose 92% year-over-year, largely in response to a surge in ransomware. Cyber risk insurers are also declining coverage to companies with substandard cybersecurity controls, as well as changing the fine print for sublimits to reduce coverage for types of losses one by one.

Cyber Insurance 72

Cyber Insurance Insurance Cyber Risk Risk 72

SC Magazine

MAY 19, 2021

Click here for more coverage of the 2021 RSA Conference. Because of their scale and the speed at which the worm-like ransomware spread, some companies received individual insurance payouts of $300 million or more. The post How the ransomware explosion is reshaping the cyber insurance market appeared first on SC Media.

Cyber Insurance 102

Cyber Insurance Insurance Marketing Ransomware 102

Bleeping Computer

JANUARY 22, 2022

Bloomington School District 87 in Illinois has published its cyber-insurance renewal details, and the cost has jumped from $6,661 in 2021 to $22,229 this year. [.].

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Insurance Cyber Insurance Cybersecurity 128

CyberSecurity Insiders

DECEMBER 9, 2021

In a recent study made by Gartner, Lloyd’s emerged as a top company that increased its coverage premiums by 50% in 2021, all because of a global impact of ransomware attacks on corporate and government networks. The post Insurance company says it will no longer cover state funded Cyber Attacks appeared first on Cybersecurity Insiders.

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Insurance Cyber Attacks Cyber Insurance Manufacturing 134

CSO Magazine

JULY 20, 2021

In March 2021 Google Cloud announced a new offering called Risk Protection Program, which is designed to help its cloud customers reduce security risk and connect with Google’s insurer partners, Allianz Global Corporate & Specialty and Munich Re.

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Cyber Insurance Insurance CISO Risk 137

CSO Magazine

FEBRUARY 22, 2021

On February 4, 2021, New York became the first state in the nation to issue a cybersecurity insurance risk framework to all authorized property and casualty insurers. Get the latest from CSO by signing up for our newsletters. ].

Insurance 106

Insurance Cyber Insurance CSO Ransomware 106

The State of Security

JUNE 13, 2022

Sophos Labs recently released its annual global study, State of Ransomware 2022, which covers real-world ransomware experiences in 2021, their financial and operational impact on organizations, as well as the role of cyber insurance in cyber defense.

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Ransomware Cyber Insurance Insurance Malware 134

CompTIA on Cybersecurity

DECEMBER 23, 2021

Cybersecurity was a big focus for CompTIA in 2021, producing a tremendous volume of content and data detailing how MSPs and other technology companies are responding to the latest cyberattacks, ransomware, hacks, and other cybercriminal behavior.

Cyber Insurance 69

Cyber Insurance Cybersecurity Insurance Ransomware 69

SC Magazine

JULY 13, 2021

million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 Further, the number of breaches reported to the Department of Health and Human Services during the first six months of 2021 increased by 27% year-over-year. More than 22.8

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Data breaches Insurance Healthcare Education 113

SecureWorld News

DECEMBER 27, 2022

While claims due to natural catastrophes are expected to top $100 billion in 2022 -- as it did in 2021 -- losses due to cyber attacks continue to climb. Insurance underwriters have no choice but to try and limit exposure through providing less coverage or hiking up the cost of cyber insurance.

Insurance 97

Insurance Cyber Attacks Cyber Insurance Marketing 97

eSecurity Planet

FEBRUARY 16, 2021

Also Read: Best Encryption Tools & Software for 2021. We also look into the most dangerous strains today and predictions for 2021. Others go further in estimating ransomware will cost as much as $6 trillion per year starting in 2021 ( Cybersecurity Ventures ). Also Read: Top Threat Intelligence Platforms for 2021.

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Ransomware Backups Software Encryption 97

CyberSecurity Insiders

MAY 1, 2023

Surprisingly, the analysis conducted by American law firm BakerHostetler found that victims who made ransomware payments increased in the year 2022 compared to 2021. Additionally, the average ransom amount paid last year was recorded as $600,000, up from the $511,000 payment made in 2021.

Data breaches 138

Data breaches Cyber Insurance Insurance Technology 138

CyberSecurity Insiders

DECEMBER 11, 2021

NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it is partnering with leading cyber insurance companies to help businesses manage their risks online. As a result, some insurance companies have had to raise premiums to cover their costs.

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Cyber Insurance Insurance Cyber Risk Risk 52

BH Consulting

FEBRUARY 24, 2025

Meanwhile, a division of the Department of Homeland Security said it had disrupted more than 500 ransomware attacks since 2021. Cyber insurance industry faces a pivotal year The cyber insurance industry faces a pivotal year, influenced by evolving ransomware threats, regulatory changes, and the integration of artificial intelligence (AI).

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Cyber Insurance Insurance Ransomware Artificial Intelligence 59

Security Boulevard

AUGUST 2, 2021

Recently, IBM came out with its Cost of a Data Breach Report 2021. An esteemed panel of subject matter experts will examine the research findings and discuss how organizations can better prepare to defend against and respond to a ransomware attack, and the full on-demand webinar can be found here.

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Data breaches Cyber Insurance Insurance Ransomware 105

Threatpost

DECEMBER 31, 2020

Ransomware response demands a whole-of-business plan before the next attack, according to our roundtable of experts.

Ransomware 120

Ransomware Cyber Insurance Insurance DDOS 120

Security Affairs

DECEMBER 28, 2022

Cyber attacks targeting critical infrastructures, such as hospitals, pipelines, and electric grids, could block their operations and cause extensive damage. On May 2021, Ireland’s Health Service Executive service shut down its IT systems after they were hit with a “significant ransomware attack.”.

Cyber Attacks 98

Cyber Attacks Cyber Insurance Insurance Cyber Risk 98

Malwarebytes

JANUARY 26, 2022

Due to the evolving and growing impact of cybersecurity incidents there are some questions starting to arise about the way that insurance companies deal with the costs that are the results of such incidents. But cyber insurance comes in different flavors and sizes. Lloyd’s of London.

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Insurance Cyber Insurance Ransomware Data breaches 97

CyberSecurity Insiders

APRIL 19, 2022

The year 2021 witnessed an increase in ransomware attacks on Corporate IT environments. And from early 2022, the focus of the cyber criminals has shifted towards core business environments such as virtualization as any attack on such operations will lead to complex IT disasters.

Ransomware 120

Ransomware Cyber Insurance Insurance Cryptocurrency 120

CyberSecurity Insiders

OCTOBER 24, 2022

Here are a few prime examples of cyber-attacks in the education sector. From December 2021 through January the following year, Bernalillo County was slammed by a ransomware attack that targeted government services. Freshly on the heels of this cyber security nightmare, the Albuquerque school system was breached. Cyber insurance.

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Education Cyber Attacks Cyber Insurance Insurance 58

CyberSecurity Insiders

JULY 19, 2021

Nearly three weeks after (ISC)² made its highly popular Professional Development Institute (PDI) course titled “ Ransomware: Identify, Protect, Detect, Recover ,” free to the public through July 31, 2021, more than 4,500 professionals have enrolled in the course. To register for the free (ISC)² ransomware course visit [link].

Ransomware 97

Ransomware Cyber Insurance Insurance Cybersecurity 97

Security Boulevard

NOVEMBER 24, 2023

At maximum, they want a 70% loss ratio to cover their payouts and expenses and, according to the National Association of Insurance Commissioners Report on the Cyber Insurance Market in 2021, nearly half of the top 20 insurers, representing 83% of the market, failed to achieve the desired loss ratio.

Insurance 72

Insurance Risk Cyber Insurance Cybersecurity 72

Security Boulevard

MARCH 17, 2021

Index Ventures and General Atlantic lead round to accelerate Coalition’s growth and build on its leadership in the cyber insurance market SAN FRANCISCO, CA — March 17, 2021 — Coalition, the leading cyber insurance and security company, today announced it has raised $175 million to accelerate its rapid growth and global expansion.

Insurance 58

Insurance Cyber Insurance Marketing 58

CyberSecurity Insiders

MAY 19, 2021

Ardagh issued a public statement on this issue on May 17th,2021, and stated that it has hired the services of a security firm in this regard to probe down the incident and has chosen to shut down its IT systems and applications to contain the spread. .

Malware 88

Malware Cyber Insurance Insurance Cyber Attacks 88

SecureWorld News

SEPTEMBER 23, 2021

Cyber defense is about test, test, test.". Familiarize yourself and your organization with cyber insurance. While Sheridan was discretionary about what he shared on this topic, he did explain how the Secret Service would like to work with insurers in the future. Register now and earn your CPE credit.].

Ransomware 93

Ransomware Cyber Insurance Insurance Government 93

Malwarebytes

MAY 2, 2022

Hospitals taken offline after cyberattack Emotet fixes bug in code, resumes spam campaign “Reject All” cookie consent button is coming to European Google Search and YouTube What’s happening in the world of personal cyber insurance? URGENT BUSINESS PROPOSAL!!!” Critical patches for Chrome and Edge.

Cyber Insurance 77

Cyber Insurance Insurance Cryptocurrency Scams 77

Cisco Security

JULY 11, 2022

And this is not an isolated case – Comparitech published a story ‘ Ransomware attacks on US schools and colleges cost $3.56bn in 2021 ’ and outlined how threat actors have evolved with their ransomware attacks on schools and colleges. In 2021: . Key findings . Securing vectors threat actors have to your network has to be the goal .

Ransomware 145

Ransomware Education Cyber Insurance Insurance 145

Duo's Security Blog

DECEMBER 7, 2022

The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories. In the long run, a solid cyber security practice could also bring premiums down, ensuring a ‘belt and braces’ approach for the company.

Insurance 98

Insurance Cyber Insurance Ransomware Risk 98

CyberSecurity Insiders

JUNE 23, 2021

In conjunction with #RansomwareWeek, today (ISC)² announced that its popular Professional Development Institute (PDI) course titled “ Ransomware: Identify, Protect, Detect, Recover ,” is now free to the public through July 31, 2021.

Education 73

Education Ransomware Cyber Insurance Insurance 73

Malwarebytes

SEPTEMBER 14, 2022

In fact, there were 50% more attack attempts per week on corporate networks globally in 2021 than in 2020. Bonus: Cyber insurance. Without cyber insurance, you can expect to pay a dizzying amount of cash. Read more: 4 ways businesses can save money on cyber insurance. Let’s recap.

Technology 78

Technology DNS Cyber Insurance Insurance 78