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

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.

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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

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. Get the latest from CSO by signing up for our newsletters. ]. Get the latest from CSO by signing up for our newsletters. ].

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Insurance Cyber Insurance CSO Ransomware 106

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. Here are the questions that stood out.

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Cyber Insurance Insurance Ransomware Authentication 98

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.

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Cyber Insurance Insurance Cybercrime Ransomware 83

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 million — more than twice the global average of $4.35 billion in 2023 to $84.62 billion by 2030.

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Insurance Data breaches Cyber Insurance Marketing 121

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.

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Cyber Insurance Insurance Accountability 77

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. Keep reading for our top takeaways from the event, and click here to watch the full webinar recording. To read this article in full, please click here

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Cyber Insurance Insurance Technology Cybersecurity 70

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

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.

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Insurance Cyber Insurance Ransomware Encryption 123

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

The Last Watchdog

APRIL 30, 2019

Prior to launching CyberSaint, Wrenn was CSO of Schneider Electric, a supplier of technologies used in industrial control systems. That could be for insurance purposes. “As As with any insurance, cyber insurance really requires due care.” Wrenn said. “So Privacy in focus The flip side of data security is privacy.

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Cybersecurity Insurance Cyber Insurance Risk 173

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.

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Cyber Insurance Ransomware Insurance Authentication 129

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.

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Cyber threats Identity Theft Cyber Insurance Insurance 111

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. It has grown in popularity and usually compensates for losses brought on by hacking and data theft, extortion and destruction.

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Cyber Insurance Ransomware Insurance Hacking 91

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.

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Ransomware Cyber Insurance Insurance Government 113

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.

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Risk Cyber Insurance Insurance Data breaches 61

Jane Frankland

JANUARY 12, 2025

Cyber Insurance Cyber insurance will become an essential component of risk management strategies. As cyber threats become more prevalent, insurance providers will refine their offerings to cover a broader range of incidents.

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Cybersecurity CISO Insurance IoT 130