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

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 Ransomware CSO 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.

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Cyber Insurance Insurance Ransomware Authentication 98

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

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. The participation led to the idea behind CyberSaint The company supplies a platform, called CyberStrong, that automatically manages risk and compliance assessments across many types of frameworks.

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Cybersecurity Insurance Cyber Insurance Risk 173

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.

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Cyber Insurance Insurance CISO Risk 137

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

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

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. Risk tools measure financial impact of cyberthreats.

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Risk Cyber Insurance Insurance Data breaches 61

Jane Frankland

JANUARY 12, 2025

In this blog, I’m exploring these changes, grouped under key categories that I’ve used in previous years, to help business leaders and cyber risk owners better prepare for the evolving landscape. The emergence of shadow AIunauthorised AI tools used without IT approvalamplifies these vulnerabilities.

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