SC Magazine

JUNE 28, 2021

The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI. Growing losses from ransomware attacks have…emphasized that the current reality is not sustainable for insurers either.

Cyber Insurance 136

Cyber Insurance Insurance Ransomware Marketing 136

Cytelligence

OCTOBER 18, 2023

The cost of cyber attacks, including financial losses, reputational damage, and legal consequences, can be staggering. To mitigate these risks, businesses often invest in cyber insurance. However, there is a powerful and cost-effective tool that businesses can utilize to reduce their cyber insurance costs: strong passwords.

Cyber Insurance 64

Cyber Insurance Insurance Passwords Cyber Attacks 64

CSO Magazine

MAY 5, 2023

Pharmaceutical firm Merck recently won an appeal that could mean its insurers will have to pay up on a $1.4-billion As detailed in the judges’ decision, many of the original defendants settled their portion of the insurance claim with Merck. billion judgment related to the NotPetya cyberattack in 2017.

Cyber Insurance 77

Cyber Insurance Insurance Accountability 77

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 58

Cyber Insurance Insurance Cyber Risk Marketing 58

CSO Magazine

AUGUST 22, 2022

Insurance marketplace Lloyd’s of London is set to introduce cyber insurance exclusions to coverage for “catastrophic” state-backed attacks from 2023. The move is reflective of a maturing and quickly evolving cyber insurance market. Nation-state attacks pose systemic risk to insurers.

Cyber Insurance 72

Cyber Insurance Insurance Marketing Risk 72

SC Magazine

MAY 24, 2021

In a report released May 20, the Government Accountability Office looked at how the private cybersecurity insurance market has developed over the past five yearsRich Baich is global chief information security officer for insurance giant AIG. Photo by Spencer Platt/Getty Images).

Cyber Insurance 94

Cyber Insurance Insurance Marketing Cyber Risk 94

Security Boulevard

JANUARY 19, 2022

Our customers often ask us for help addressing the requirements of insurers. The post How ThreatX Can Help Address Cyber Insurance Critical Controls appeared first on ThreatX. The post How ThreatX Can Help Address Cyber Insurance Critical Controls appeared first on ThreatX.

Cyber Insurance 52

Cyber Insurance Insurance Accountability 52

SecureWorld News

SEPTEMBER 10, 2020

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. The number one type of cyber incident so far this year is ransomware.

Cyber Insurance 56

Cyber Insurance Insurance Ransomware Cyber Attacks 56

SC Magazine

MAY 19, 2021

The development of cybersecurity insurance has played an important role in determining how companies prepare for and respond to ransomware attacks and the resulting fallout. That in itself has evolved, as insurers and insured learn just how expensive that fallout can be. The ransomware reality check for insurers.

Cyber Insurance 102

Cyber Insurance Insurance Marketing Ransomware 102

Security Boulevard

AUGUST 20, 2021

Cyber insurance is driving a long overdue improvement in user access security. Multi-factor authentication (MFA) is fast becoming a requirement for all privilege and non-privilege accounts, whether users are working on the internal network or remotely. It seems insurers … Continued.

Insurance 116

Insurance Cyber Insurance Authentication Network Security 116

SC Magazine

APRIL 23, 2021

For example, they’re used in boardrooms as “eye candy” to portray the state of company cyber-risk, with supply chain partners to manage third-party risk and, even more frightening, by insurance companies to create risk profiles for cyber-insurance policies. Does it truly reflect the security of the company? Usually not.

Cyber Insurance 61

Cyber Insurance Insurance Risk Cyber Risk 61

SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

Insurance 113

Insurance Cyber Insurance Ransomware InfoSec 113

Schneier on Security

FEBRUARY 28, 2024

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.

Cyber Insurance 254

Cyber Insurance Insurance Government Cyber Risk 254

SC Magazine

FEBRUARY 8, 2021

Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.

Insurance 126

Insurance Cyber Insurance Cybersecurity Government 126

BH Consulting

JULY 17, 2024

One of the largest tech companies, Amazon Web Services, has now made it mandatory for privileged accounts. Security Week reported that Mandiant’s investigation traced the incident back to stolen credentials and found that targeted accounts weren’t using MFA. MFA is seen as a critical control in reducing the risk of account takeovers.

Cyber Insurance 69

Cyber Insurance Insurance Risk Marketing 69

Duo's Security Blog

JUNE 21, 2021

Don’t worry though, there's already an insurance policy for that. What is Cyber Liability Insurance? Cyber liability insurance, sometimes known as cyber insurance, is distinct from traditional commercial general liability and property insurance policies.

Insurance 100

Insurance Cyber Insurance Data breaches Social Engineering 100

SecureWorld News

JANUARY 31, 2024

For those in the real estate industry—including real estate owners, developers, property managers, real estate investment trusts (REITs), hospitality groups, and investment managers—cyber risks are more complicated because of the multilayered environment and multiple stakeholders who are involved.

Risk 86

Risk Cyber Insurance Insurance Data breaches 86

Security Boulevard

OCTOBER 11, 2024

Insight #1: CISOs, you need insurance coverage According to German multinational insurance company Munich Re, the global cyber insurance market is expected to rise from $14 billion to $29 billion by 2027. Insight #3: We should review security policies more often How often are you reviewing your security policies?

CISO 64

CISO Insurance Cyber Insurance Cybersecurity 64

CyberSecurity Insiders

MAY 26, 2021

The objective is to reassess the coverage provided by the Federal Cyber Terrorism Risk Insurance Program( TRIP) in the event of cyber-terrorist activities on the IT infrastructure hosted by public and private properties.

Insurance 78

Insurance Risk Cyber Insurance Cyber Attacks 78

Security Boulevard

FEBRUARY 2, 2023

Many organizations are struggling today with aligning their security controls with what underwriters now require in order to get insurance coverage against ransomware attacks. The post <strong>Need an Insurance Policy Against Ransomware Attacks? The post Need an Insurance Policy Against Ransomware Attacks?

Insurance 98

Insurance Ransomware Cyber Insurance Accountability 98

Security Boulevard

SEPTEMBER 6, 2024

Insight #2: Controls to lower cyber insurance costs The number one thing that should decrease cyber security insurance premiums should be multi-factor authentication. There are definitely other things you can do as outlined here , but MFA is probably the largest factor in preventing account compromise/breach.

CISO 59

CISO Cyber Insurance Insurance Cybersecurity 59

Duo's Security Blog

OCTOBER 18, 2021

One area where campuses have been collaborating recently are changes around cyber liability insurance for higher education, an opportunity for campus cybersecurity teams to combine forces with their risk management team. In a recent Duo blog post, we gave an overview of cyber liability insurance.

Insurance 77

Insurance Education Risk Cyber Insurance 77

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

Insurance 85

Insurance Cyber Insurance Ransomware Data breaches 85

SC Magazine

MARCH 2, 2021

Google Cloud, Munich Re and Allianz are working together to turn risk data into better insurance policies. Customers on Google Cloud are now able to use a diagnostic tool called “Risk Manager” to evaluate cyber hygiene. Parisi said it would also allow insurers to be more transparent with clients about their calculations.

Insurance 75

Insurance Cyber Insurance Risk Media 75

Hacker's King

OCTOBER 10, 2024

Cyber Insurance Partnerships Cyber insurance is becoming a must-have for businesses worldwide. Cybersecurity companies often partner with insurance firms to provide risk assessments and incident recovery services to clients. In return, they receive a share of the insurance premium or a service fee.

Cybersecurity 52

Cybersecurity Cyber Insurance Insurance Penetration Testing 52

eSecurity Planet

JULY 12, 2022

Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Also read: Top 8 Cyber Insurance Companies for 2022 Best Ransomware Removal and Recovery Services. Most had been infected.

Ransomware 144

Ransomware Cyber Insurance Backups Insurance 144

Security Affairs

NOVEMBER 6, 2018

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?

Insurance 95

Insurance Cryptocurrency Cyber threats Marketing 95

Krebs on Security

JULY 24, 2018

Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. million total. All told, the perpetrators stole more than $569,000 in that incident.

Banking 194

Banking Insurance Computers and Electronics Cyber Insurance 194

Security Affairs

DECEMBER 2, 2020

The attack did not affect the Learning Management System (“LMS”) that is used to provide educational content to students and to host student accounts. They also state that most major systems, including payroll, accounting, and enrollment systems, were unaffected. “K12 Inc. NYSE: LRN) (“Stride” or “we”) – to be Stride, Inc.

Education 145

Education Cyber Insurance Insurance Ransomware 145

Security Boulevard

MAY 12, 2022

Even with the advancements in network isolation, containment, and prevention at the endpoint, hackers will still bypass predictive controls to execute malware attacks, ransomware exploits, account takeovers.etc. The Role Of Cybersecurity Insurance In A Predictive Security. What Is Not Covered Under Cyber Insurance?

Cyber Insurance 105

Cyber Insurance Insurance Marketing Firewall 105

CSO Magazine

AUGUST 16, 2022

Cybersecurity risk assessment company Safe Security on Tuesday rolled out two new online risk assessment tools for businesses to use, in order to help them understand their vulnerability to cyberattacks and the costs of insuring against them. Risk tools measure financial impact of cyberthreats.

Risk 61

Risk Cyber Insurance Insurance Data breaches 61

Security Boulevard

AUGUST 22, 2022

Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. These attacks have driven the cost of cyber insurance premiums higher. Cyber insurance has become more critical to organizations to help offset the risk to the company.

Cybersecurity 98

Cybersecurity Cyber Insurance Insurance CISO 98

Centraleyes

JUNE 11, 2024

Prioritize using MFA for accounts with elevated privileges, remote access, and access to sensitive data or systems. Get Cyber Insurance Organizations turn to cyber insurance to transfer risk to an organization that would cover the costs of a cyber attack, mitigating their own risk.

Risk 52

Risk Cyber Insurance Insurance Authentication 52

CyberSecurity Insiders

MARCH 25, 2021

And sometimes cyber criminals are using email services to trick employees into making fraudulently large financial transfers via new business deals or contracts. Seeking cyber insurance coverage, creating awareness among employees and protecting accounts with 2FA is the advice that is being given by the researchers of DCMS.

Cyber threats 128

Cyber threats Cyber Insurance Insurance Cyber Risk 128

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 63

Cyber Insurance Insurance Cryptocurrency Scams 63

CyberSecurity Insiders

JUNE 22, 2023

Instead, the ransom pay can be covered from a cyber insurance policy, provided it is taken prior to the launch of the attack and covers the costs associated with the malware attack. Notify your bank: Inform your bank about the situation and work with them to protect your accounts and prevent any fraudulent activity.

Ransomware 96

Ransomware Banking Cyber Insurance Insurance 96

Security Affairs

FEBRUARY 8, 2024

Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 Cyber Skills Gap: By 2025, there could be 3.5 million unfilled cyber security jobs, showing a big need for skilled professionals. Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 million per breach.

Social Engineering 142

Social Engineering Cyber Attacks Cyber Insurance IoT 142