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Finding the right insurance has become a key part of the security equation, which is no surprise given that the average cost of a data breach in the US has risen to $9.44 The global cyberinsurance market was valued at $13.33 billion by 2030. million — more than twice the global average of $4.35 billion in 2023 to $84.62
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.
MFA is seen as a critical control in reducing the risk of account takeovers. Sadly, making things mandatory is often the most effective way to manage this risk. Cyberinsurance: whisper it, but it seems to be working Cyberinsurance premiums have dropped by 15 per cent compared to their peak in 2022.
Essentially the business will see what the risk tolerance is for all these items, and that’s what the Ops team will monitor in their dashboards. Amaya works for Progressive, which is the main player in auto and CyberInsurance. As our industry moves from our pre-teens to our 20’s and 30’s (2030-2050?),
Cybersecurity professionals are already grappling with the risks of supply chain attacks, and these tariffs add another layer of complexity. Taking another perspective on new risks, maybe a U.S. Increased counterfeit risks in hardware procurement as organizations look for cheaper alternatives. So what should CISOs do?
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