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Cyber Insurance Premiums Decline as Businesses Boost Security Measures

SecureWorld News

Global cyber insurance premiums are declining despite an uptick in ransomware attacks, according to a recent report by insurance broker Howden. This trend reflects improved business security practices, evolving insurance industry dynamics, and changing attitudes toward cyber risk management.

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The future of cyber insurance

IT Security Guru

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

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What you need to know: The biggest cyber threats in 2024

Webroot

In today’s world, both small businesses and everyday consumers face a growing number of cyber threats. OpenText’s 2024 Threat Hunter Perspective sheds light on what’s coming next and how to protect yourself. Having regular backups means you can recover without having to pay a ransom.

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2023 Predictions for Storage and Backup Ransomware

CyberSecurity Insiders

2022 clearly demonstrated that attacks on data represent the greatest cyber-threat organizations face. Many of these attacks took advantage of known vulnerabilities and security misconfigurations in storage and backup systems. And backup and storage systems are rife with unpatched CVEs. Insurance Refusals and Rate Hikes.

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What’s happening in the world of personal cyber insurance?

Malwarebytes

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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What you need to know: The biggest cyber threats in 2024

Webroot

In today’s world, both small businesses and everyday consumers face a growing number of cyber threats. OpenText’s 2024 Threat Hunter Perspective sheds light on what’s coming next and how to protect yourself. Having regular backups means you can recover without having to pay a ransom.

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Ransomware: Number One Cyber Insurance Claim

SecureWorld News

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 company says that ransomware accounted for 41% of cyber claims. Cyber insurance works.