CSO Magazine

DECEMBER 1, 2021

Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.

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Cyber Insurance Insurance CSO Cyber Risk 109

CSO Magazine

JUNE 2, 2021

I recently had to renew the cyber insurance policy for the office and it was interesting to see the evolution of questions asked over the years. At first, most of the cyber insurance questions involved basic computer security and merely checked to see if we had firewalls and antivirus and not much else.

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Cyber Insurance Insurance Antivirus Firewall 115

CSO Magazine

OCTOBER 21, 2021

Could such variations trigger changes in the cyber insurance market and, if so, how will they impact insurance carriers and organizations? To read this article in full, please click here Learn the 7 keys to better risk assessment. | Get the latest from CSO by signing up for our newsletters. ].

Cyber Insurance 133

Cyber Insurance Insurance Ransomware CSO 133

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

Malwarebytes

JULY 10, 2022

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.

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Cyber Insurance Insurance Data breaches Phishing 105

CSO Magazine

FEBRUARY 20, 2023

With cyberattacks rising at an alarming rate around the world, cyber insurance has become an increasingly popular layer of protection for businesses across all sectors. To read this article in full, please click here

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Cyber Insurance Insurance Cyber Risk Risk 112

CSO Magazine

APRIL 20, 2023

Cyber insurance provider At-Bay has announced the launch of a new InsurSec solution to help small-to-mid sized businesses (SMBs) improve their security and risk management postures through their insurance policy. The emergence of InsurSec technology reflects a cyber insurance landscape that has seen significant change recently.

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Cyber Insurance Insurance Risk CISO 105

CSO Magazine

MAY 11, 2022

It’s that time that I fill out the annual cyber insurance policy application. Each year it gives me an insight into what insurance vendors are using to rate the risks and threats to our business and what they are stressing I should have as best practices. To read this article in full, please click here

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Cyber Insurance Insurance Ransomware Authentication 98

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?

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Cyber Insurance Insurance Backups Cryptocurrency 93

CSO Magazine

MARCH 22, 2022

As ransomware attacks and cybercrime have skyrocketed over the past few years, some organizations are feeling compelled to purchase cyber insurance , which is designed to cover the costs resulting from a successful cyberattack. To read this article in full, please click here

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Cyber Insurance Insurance Cybercrime Ransomware 83

Graham Cluley

FEBRUARY 22, 2023

A ransomware outfit is advising its victims to secretly tell them how much insurance they have, so their extortion demands will be met. Read more in my article on the Tripwire State of Security blog.

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Insurance Cyber Insurance Ransomware Malware 118

CSO Magazine

FEBRUARY 21, 2023

But enterprise cybersecurity is a team sport involving multiple players—encompassing everything from technology vendors to cyber insurance providers and cyber defense platforms. To read this article in full, please click here

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Cyber Insurance Insurance Technology Cybersecurity 70

CSO Magazine

MAY 5, 2023

In a separate yet parallel case involving multinational food and beverage company Mondelez International and Zurich American Insurance , a settlement was also reached, missing the opportunity to have a telling effect and adjustment on how cyber insurance will be treated going forward.

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Cyber Insurance Insurance Accountability 77

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.

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Cyber Insurance Insurance Marketing Risk 72

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. To read this article in full, please click here (Insider Story)

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Cyber Insurance Insurance CISO Risk 137

CSO Magazine

FEBRUARY 22, 2021

However, the DFS wants all insurers, even though those that don't offer cybersecurity insurance, to "still evaluate their exposure to 'silent risk' and take appropriate steps to reduce that exposure." To read this article in full, please click here

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Insurance Cyber Insurance CSO Ransomware 106

Trend Micro

APRIL 14, 2021

With so many vendors in the market, the Marsh initiative has created the Cyber Catalyst to help IT buyers find the right option for them.

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Cyber Insurance Insurance Marketing Ransomware 101

Schneier on Security

MARCH 26, 2020

Interesting article discussing cyber-warranties, and whether they are an effective way to transfer risk (as envisioned by Ackerlof's "market for lemons") or a marketing trick. Our preliminary analysis suggests the majority of cyber warranties cover the cost of repairing the device alone.

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Cyber Insurance Marketing Insurance Risk 205

CSO Magazine

JANUARY 13, 2023

The Royal ransomware group is believed to be actively exploiting a critical security flaw affecting Citrix systems, according to the cyber research team at cyber insurance provider At-Bay. To read this article in full, please click here

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Cyber Insurance Ransomware Insurance Authentication 129

Security Affairs

OCTOBER 20, 2024

Every week the best security articles from Security Affairs are free in your email box. A new round of the weekly SecurityAffairs newsletter arrived! Enjoy a new round of the weekly SecurityAffairs newsletter, including the international press.

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Data breaches Cybercrime Cyber Insurance Marketing 115

Joseph Steinberg

AUGUST 5, 2021

(I co-wrote this article with Mark Lynd , CISSP, ISSAP & ISSMP, Head of Digital Business at NETSYNC.). Likewise, cyber insurance policies for individuals are starting to appear in the marketplace. Most policies have significant caps and exclusions in this regard.

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Insurance Cyber Insurance Artificial Intelligence Ransomware 258

Security Boulevard

DECEMBER 17, 2023

Articles related to cyber risk quantification, cyber risk management, and cyber resilience. The post Developing Industry Loss Curves for Cyber Insurance Using the Crimzon™ Framework | Kovrr Blog appeared first on Security Boulevard.

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Cyber Insurance Insurance Cyber Risk Risk 59

Trend Micro

JANUARY 28, 2025

ASRM transforms cyber insurance underwriting by integrating real-time risk assessments, advanced tools (NDR, EDR, Cloud Security, MDR), and proactive mitigation strategies to improve accuracy, reduce claims, and build trust.

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Cyber Insurance Insurance Risk Cyber threats 54

CSO Magazine

MAY 15, 2023

Companies with cyber insurance are more likely to get hit by ransomware, more likely to be attacked multiple times, and more likely to pay ransoms, according to a recent survey of IT decision makers. To read this article in full, please click here

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Insurance Cyber Insurance Ransomware Encryption 123

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.

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Insurance Cyber Attacks Cyber Insurance Marketing 97

Trend Micro

JANUARY 8, 2024

As the threat landscape evolves and the cost of data breaches increase, so will cyber insurance requirements from carriers. Cyber Risk Specialist Vince Kearns shares his 4 predictions for 2024.

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Cyber Insurance Insurance Cyber Risk Data breaches 52

Security Boulevard

FEBRUARY 24, 2021

Since the early 2000s, many companies have purchased cyber insurance to protect them when data is stolen, networks are breached, regulatory agencies levy fines, or other related incidents occur. In recent years, cyber insurance is also used to protect against increasingly popular ransomware events.

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Insurance Cyber Insurance Ransomware 96

Security Boulevard

SEPTEMBER 21, 2022

Articles related to cyber risk quantification, cyber risk management, and cyber resilience. The post Are You Buying Too Much Cyber Insurance Coverage? Use CRQ to Find Out appeared first on Security Boulevard.

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Cyber Insurance Insurance Cyber Risk Risk 52

Security Boulevard

MARCH 3, 2021

In this part of the blog series on the connection between cybersecurity and insurance, we go through a real-life situation that demonstrates how insurance policies may or may not provide you the necessary coverage in the event of a cyber-attack. A Standalone Cyber Insurance Policy Isn’t Enough As discussed in our previous blog, a.

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Insurance Cyber Attacks Cyber Insurance Cybersecurity 105

CSO Magazine

JANUARY 24, 2023

Industry respondents also expressed concerns over identity theft at 4%, unavailable or unaffordable cyber insurance at 4%, geopolitical risks at 3%, DDoS attacks at 2% and website defacement at 0.9%, according to CSI’s annual survey of the financial sector. To read this article in full, please click here

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Cyber threats Identity Theft Cyber Insurance Insurance 111

CSO Magazine

JUNE 14, 2023

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 cyber insurance market was valued at $13.33 To read this article in full, please click here billion in 2023 to $84.62 billion by 2030.

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Insurance Data breaches Cyber Insurance Marketing 121

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

CSO Magazine

MARCH 17, 2022

To read this article in full, please click here Organizations that do not pay ransomware risk potential losses that far outweigh the financial hit taken from an extortion fee, which gives attackers a clear advantage.

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Ransomware Cyber Insurance Insurance Government 113

CSO Magazine

NOVEMBER 17, 2022

It’s no wonder more companies are turning to cyber insurance to help recoup their losses when they do have to pay a ransomware settlement. Cyber insurance can also be a double-edged sword. To read this article in full, please click here

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Cyber Insurance Ransomware Insurance Hacking 91

SecureWorld News

JANUARY 31, 2024

While this is standard practice for addressing liability within the universe of real estate, deliberate and precise actions are required when negotiating cyber insurance coverage. All stakeholders, including insurers, need to understand whose cyber insurance policy responds to an incident.

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Risk Cyber Insurance Insurance Data breaches 103

Security Weekly

JANUARY 12, 2022

The costs of cyber insurance policies are rising exponentially while underwriters are tightening the rules around who qualifies for cyber insurance, and at the same time, insurer capacity is constricting dramatically. increase in […].

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Insurance Cyber Insurance Ransomware Risk 89

CyberSecurity Insiders

SEPTEMBER 21, 2021

Cyber Insurance Fees gets high- Whether your business is previously (before the attack) covered under the cyber insurance policy, as soon as it witnesses an attack on its IT Infrastructure, the company that issues a policy will definitely jack up the prices.

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Ransomware Cyber Insurance Insurance Cyber Attacks 116