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

OCTOBER 21, 2021

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

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Cyber Insurance Insurance Ransomware CSO 133

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

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

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

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 212

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

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 116

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. To read this article in full, please click here

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Insurance Cyber Insurance CSO Ransomware 106

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

SecureWorld News

JANUARY 31, 2024

Cyber risk is an existential issue for companies of all sizes and in all industries. However, it also exposes companies to additional layers of risk. However, it also exposes companies to additional layers of risk. Real estate portfolios are uniquely exposed to cyber-physical damage risk?

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Risk Cyber Insurance Insurance Data breaches 102

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

Joseph Steinberg

AUGUST 5, 2021

One of the important concepts about which people must be aware when evaluating their cybersecurity postures and related liabilities, but which, for some reason, many folks seem to be unaware, is the difference between first-party risks and third-party risks. First-Party Risks And Coverage. Third-Party Risks And Coverage.

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Insurance Risk Data breaches Artificial Intelligence 141

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

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 95

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

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

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

CSO Magazine

MARCH 17, 2022

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. To read this article in full, please click here

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Ransomware Cyber Insurance Insurance Government 113

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

Security Boulevard

NOVEMBER 3, 2022

What Cybersecurity Needs To Know About Segregation Of DutiesCybersecurity has moved to the top of the list of priorities of CISOs and not just because of the astronomical cost of cyber insurance. billion on information security and risk management products and […]. According to Gartner organizations will spend a collective $188.3

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Cyber Insurance Insurance CISO Information Security 98

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.

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Risk Cyber Insurance Insurance Data breaches 61

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

Security Affairs

APRIL 24, 2022

Every week the best security articles from Security Affairs free for you in your email box. A new round of the weekly Security Affairs newsletter arrived! If you want to also receive for free the newsletter with the international press subscribe here. Patch them now! Patch them now!

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Cyber Insurance Spyware Firmware Hacking 100

Malwarebytes

SEPTEMBER 14, 2022

This article focuses on helping to prevent cyberattacks purely through technology; though of course, businesses need a combination of technology, people, and strategy to truly become cyber resilient. Your level of prevention is determined by how much risk you accept to take on. Bonus: Cyber insurance.

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Technology DNS Cyber Insurance Insurance 80

The Last Watchdog

SEPTEMBER 14, 2018

Here are key takeaways: Local risks. As Ananth explained, the city did two things right: they had cyber insurance and they didn’t pay the ransom. Last Watchdog’s Sue Poremba contributed to this article. For a drill down on our discussion, give the accompanying podcast a listen. Election threat.

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Government Cyber Insurance Digital transformation Hacking 147

eSecurity Planet

OCTOBER 5, 2021

Paying for internal assessments and penetration tests by a third party can provide fresh thinking and a level of assurance for stakeholders such as customers, the board of directors, and the insurance company that wrote our cyber insurance policy. Is the attack small enough that we do not need to file a cyber insurance claim?

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Ransomware Backups Insurance Cyber Insurance 132

Webroot

SEPTEMBER 7, 2023

This is all happening while companies are spending trillions digitizing their business operations and trying to obtain secure cyber insurance while keeping up with regulatory changes in GDPR, HIPAA, and Sarbanes-Oxley. The best way to weather these challenges is to become a cyber resilient business.

Encryption 119

Encryption Cyber Insurance Cybercrime Phishing 119

SecureWorld News

MAY 5, 2023

The article quotes a statement from City Manager T.C. Broadnax, who said he is optimistic that the risk is contained. Since City of Dallas' Information and Technology Services detected a cyber threat Wednesday morning, employees have been hard at work to contain the issue and ensure continued service to our residents," he said.

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Ransomware Cyber Risk Cyber Insurance Social Engineering 98

eSecurity Planet

AUGUST 9, 2022

The GDPR provision that may keep IT security teams busiest is Article 32, which requires “a process for regularly testing, assessing and evaluating the effectiveness of technical and organizational measures for ensuring the security of the processing” of personal data. See the Top Governance, Risk and Compliance (GRC) Tools.

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Data privacy Encryption Data breaches Insurance 145

Hacker's King

OCTOBER 10, 2024

In today’s digital era, where cyber threats are constantly evolving, cybersecurity companies play a crucial role in protecting individuals, businesses, and governments from malicious attacks. This article breaks down the revenue streams that keep the cybersecurity industry thriving.

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Cybersecurity Cyber Insurance Insurance Penetration Testing 52

Malwarebytes

SEPTEMBER 30, 2022

And a key part of building out any cybersecurity policy for your local government is to develop an organizational understanding of risk to systems, people, data, and so on. Take cyber insurance , for example. Related : Cyber threat hunting for SMBs: How MDR can help. Also delivered free of charge by the NCATS team.

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Government Cybersecurity Cyber Insurance Insurance 68

SecureWorld News

MAY 16, 2023

The city has a more established IT setup, including a full-time IT director, which many of the smaller towns lack, according to this Government Technology article. Mike Parkin, Senior Technical Engineer at Vulcan Cyber, a provider of SaaS for enterprise cyber risk remediation, is a fan of the collaborative.

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Cybersecurity Insurance Cyber Risk CISO 97