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. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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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.

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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.

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Cyber Insurance Insurance Cyber Risk Marketing 75

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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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.

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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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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. The framework applies to all property or casualty insurers that write cybersecurity insurance.

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Insurance Cyber Insurance CSO Ransomware 106

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.

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Cyber Insurance Insurance Marketing Ransomware 102

Security Boulevard

NOVEMBER 24, 2023

First published by HelpNetSecurity  — Matthew Rosenquist Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance.

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Insurance Risk Cyber Insurance Cybersecurity 72

SecureWorld News

DECEMBER 27, 2022

Cyber is the risk to watch, according to a Financial Times article in which insurer Zurich's top executive is quoted. What will become uninsurable is going to be cyber,” said Mario Greco, CEO at Zurich, one of Europe's biggest insurance companies, in the Dec. 26 article. The two sides later settled.

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Insurance Cyber Attacks Cyber Insurance Marketing 97

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

OCTOBER 20, 2021

Cyberrisk is business risk. But how should we communicate this risk to the business, to clients, or to investors? This includes the 2021 annual report at Accenture. This includes the 2021 annual report at Accenture. Accenture annual report: risks we face from cyberattacks. L egal, reputational and financial risks?

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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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Duo's Security Blog

OCTOBER 18, 2021

We need to work with many different teammates on campus — risk management, legal, compliance and institutional review boards, to name a few — to effectively manage cybersecurity risk across our communities. They see the investment in MFA as critical to a campus cybersecurity program and managing risk for a campus.

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eSecurity Planet

FEBRUARY 16, 2021

Also Read: Best Encryption Tools & Software for 2021. Below we outline 18 industry tips for actions you can take to reduce your risk of a ransomware attack: Action. While virtual backups are great, if you’re not storing data backups offline, you’re at risk of losing that data. Screenshot example. Description. Statistics.

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CyberSecurity Insiders

APRIL 19, 2022

M-Trends 2022 report not only disclosed what threat actors are doing, but has also offered ways to mitigate risks. The year 2021 witnessed an increase in ransomware attacks on Corporate IT environments. And they are some strategies to mitigate risks.

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Ransomware Cyber Insurance Insurance Cryptocurrency 120

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 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.”.

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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. Pharmaceutical giant Merck & Co. Merck suffered US$1.4

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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. The importance of threat intelligence and its effect on reducing risk.

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Thales Cloud Protection & Licensing

NOVEMBER 9, 2021

Tue, 11/09/2021 - 11:20. To be able to leverage the fantastic opportunities of cloud computing and still remain in control of their security, organizations have to understand the level of risk they are willing to take, and implement the right processes and tools. Evolution of Cloud Security: From Shared Responsibility to Shared Fate.

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Cloud Migration Insurance Encryption Cyber Insurance 123

SecureWorld News

SEPTEMBER 23, 2021

His unique insights around cybersecurity-related topics shine a light on ransomware risk for organizations, government agencies, and the public. It starts with having a robust strategic plan that focuses on risk management. Testing is also an important part of risk management, and this is integral to successful risk management plans.

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Duo's Security Blog

DECEMBER 7, 2022

But what are the risks with this approach? The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories. But MFA should not only be viewed as a prerequisite for obtaining cyber liability insurance.

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Insurance Cyber Insurance Ransomware Risk 98

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

Malwarebytes

SEPTEMBER 14, 2022

In fact, there were 50% more attack attempts per week on corporate networks globally in 2021 than in 2020. Your level of prevention is determined by how much risk you accept to take on. At a medium level of risk, you want to find that perfect balance between too strict and too permissive. Bonus: Cyber insurance.

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Technology DNS Cyber Insurance Insurance 80

SecureList

NOVEMBER 9, 2022

The ongoing geopolitical storm brings not only classical cyberthreats for business, but also unpredictable risks and ‘black swans’ The main problem for 2023 will be supply-chain stability and cybersecurity. Yet, in addition to cyber insurance, companies will need a designated DR or RR (Rolling Recovery) plan.

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SecureWorld News

AUGUST 25, 2021

Cameron gave her perspective on cyber risk at the Royal United Services Institute (RUSI) think tank's annual security lecture earlier this year: "What I find most worrying isn't the activity of state actors. Nor is it an improbable cyber Armageddon. Cyber insurance fueling ransomware?

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CyberSecurity Insiders

OCTOBER 26, 2022

From a budgetary standpoint, ransom payments and cyber insurance premiums have continued to rise over time. The plan should carefully document security controls and include proactive steps to manage supply chain partner risk. In 2021, an average of 3.98+ million people voluntarily left their jobs per month in the U.S.

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Security Boulevard

FEBRUARY 8, 2023

Click here to watch the roundtable and learn about the future of cyber insurance from leading experts. In partnership with Cysurance, BlastWave hosted a roundtable entitled “The Future of Cyber Insurance and MSP Insurability. of Morris Risk Management, John Franzino of Grid Security Inc.,

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Cyber Insurance Insurance Marketing Risk 52

eSecurity Planet

JANUARY 11, 2022

Investors recognize the potential too, as funding for cybersecurity ventures more than doubled from previous years to almost $22 billion in 2021. Boasting itself as the world’s first Code Risk Platform, Apiiro Security offers risk visibility across design, code, and cloud segments. Cado Security.

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Cybersecurity Threat Detection Artificial Intelligence Risk 142

CyberSecurity Insiders

OCTOBER 20, 2021

On Tuesday afternoon, he shared those lessons with (ISC)² Security Congress 2021 attendees during a virtual session. On the business side, the plan should address elements such as having a communication plan for the CISO, CIO and company executives as well as a risk management component that includes cyber insurance.

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CyberSecurity Insiders

JANUARY 24, 2022

CINCINNATI–( BUSINESS WIRE )–Great American Insurance Group recently launched EagleEye? According to Betty Shepherd, Divisional Senior Vice President, Great American Cyber Risk, EagleEye is a valuable loss prevention tool for insureds.

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CyberSecurity Insiders

APRIL 19, 2021

Hiscox Cyber Readiness Report 2021 states that most of the German firms are vulnerable to cyber attacks and are topping the list of the study group with a loss tally of $48 million. Researchers who conducted the survey concluded after gauging six key cyber security areas related to people, technology and processes.

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eSecurity Planet

APRIL 26, 2022

billion in 2021, and growing concerns over data security , software supply chains , and ransomware suggest the market will remain strong through economic ups and downs. Luckily for cybersecurity startups, there’s no shortage of interest in tomorrow’s next big security vendors. AllegisCyber Investments. Andreessen Horowitz (a16z).

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Duo's Security Blog

JUNE 9, 2022

So, on a recent webinar , I sat down with Darren Thomson, Head of Cyber Intelligence Services at CyberCube , a firm that provides data-driven cyber risk analytics for the insurance industry. So how do insurers get hold of that kind of insight? Here are my key takeaways.

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Insurance Marketing CISO Cyber Insurance 97

Security Boulevard

JUNE 15, 2021

Ransomware attacks have continued to make headlines, and for good reason: on average, there is a new ransomware attack every 11 seconds, and the losses to organizations from ransomware attacks is projected to reach $20 billion over the course of 2021 following a record increase in losses of more than 225% in 2020.

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