SecureWorld News

DECEMBER 27, 2022

While claims due to natural catastrophes are expected to top $100 billion in 2022 -- as it did in 2021 -- losses due to cyber attacks continue to climb. Insurance underwriters have no choice but to try and limit exposure through providing less coverage or hiking up the cost of cyber insurance.

Insurance 97

Insurance Cyber Attacks Cyber Insurance Marketing 97

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. As cyber criminals mature and advance their tactics, small and medium businesses become the most vulnerable because they lack the capacity – staff, technology, budget - to build strong cyber defenses. The necessity for cyber-insurance coverage.

Cyber Insurance 77

Cyber Insurance Insurance Cyber Risk Cyber Attacks 77

SecureWorld News

MAY 26, 2021

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

Cyber Insurance 75

Cyber Insurance Insurance Cyber Risk Marketing 75

SC Magazine

MAY 24, 2021

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

Cyber Insurance 94

Cyber Insurance Insurance Marketing Cyber Risk 94

SecureWorld News

SEPTEMBER 10, 2020

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 number one type of cyber incident so far this year is ransomware.

Cyber Insurance 68

Cyber Insurance Insurance Ransomware Cyber Attacks 68

Schneier on Security

MARCH 26, 2020

Our preliminary analysis suggests the majority of cyber warranties cover the cost of repairing the device alone. Only cyber-incident warranties cover first-party costs from cyber-attacks -- why all such warranties were offered by firms selling intangible products is an open question.

Cyber Insurance 205

Cyber Insurance Marketing Insurance Risk 205

Digital Shadows

NOVEMBER 26, 2024

The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. This demonstrates how threat actors are willing to exploit even the most sensitive of events for malicious purposes. com and hurricaneheleneclaimhelp[.]com.

Cyber Attacks 59

Cyber Attacks Phishing Ransomware Cyber Insurance 59

Security Boulevard

JULY 30, 2022

Staying Ahead of the Distortion of a Cyber Attack? Each firewall, IDS, MFA, and email security is built to protect and stop cyber attacks. While enforcement of FERPA is left to the department of education, there is some sense of data accountability and disclosure of events. Until next week, John.

Cyber Attacks 110

Cyber Attacks Artificial Intelligence Education Cyber Insurance 110

Duo's Security Blog

OCTOBER 7, 2022

In fact, a recent report by Howden Insurance Brokers states that the number of brokers reporting rising demand for cyber liability insurance coverage has risen by 89%, and the number of brokers reporting an increase in claims has risen by 72%. Small business cyber insurance: Is it really needed?

Small Business 98

Small Business Cyber Insurance Insurance Cyber Risk 98

Joseph Steinberg

AUGUST 5, 2021

Likewise, cyber insurance policies for individuals are starting to appear in the marketplace. Remember, a cyber-insurance policy is a legal contract – it is absolutely essential that policyholders adhere to policy requirements or they may find their otherwise valid claims denied should a cybersecurity incident occur.

Insurance 258

Insurance Cyber Insurance Artificial Intelligence Ransomware 258

Security Affairs

FEBRUARY 8, 2024

26 key cyber security stats for 2024 that every user should know, from rising cyber crime rates to the impact of AI technolog y. Cyber Crime Surge: During COVID-19 , cyber crimes shot up by 600%, showing how threats adapt to global changes. Phishing Attacks: Phishing is the top cyber attack, causing 90% of data breaches.

Social Engineering 141

Social Engineering Cyber Attacks Cyber Insurance IoT 141

eSecurity Planet

OCTOBER 18, 2021

The legal complaint [PDF] notes that on July 9, 2019, the day it was hit by a ransomware attack, Springhill Memorial Hospital contended that the event had “not affected patient care.” ” Cyber Insurance No Longer Reliable. Also read: Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs.

Ransomware 105

Ransomware Cyber Insurance Insurance Digital transformation 105

CyberSecurity Insiders

OCTOBER 24, 2022

These attacks also tend to be more successful in access and payout in the event of ransom demands, with 74% of attacks ending successfully for hackers. Here are a few prime examples of cyber-attacks in the education sector. Cyber insurance. Albuquerque, New Mexico hit with a one-two punch. Conclusion.

Education 58

Education Cyber Attacks Cyber Insurance Insurance 58

Security Boulevard

AUGUST 22, 2022

Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. Email phishing, brute force, and even employees leaving with a host of USB sticks, organizations face countless and often unreported cyber attacks. Absolutely.

Cybersecurity 98

Cybersecurity Cyber Insurance Insurance Risk 98

Joseph Steinberg

AUGUST 5, 2021

Third-party insurance policies may include coverage, therefore, for the costs of defending lawsuits from parties who claim that their data was compromised as a result of your business’s failure to properly protect it, as well as the costs of court verdicts or settlements resulting from such lawsuits. Which Do You Need?

Insurance 141

Insurance Risk Data breaches Artificial Intelligence 141

Security Boulevard

MAY 12, 2022

Is The Cost Of Predictive Cyber Security Worth The Investment? Cybersecurity Events Becoming More Predictable ? Predictable recovery after cyber attacks helps organizations with lessons learned along with driving a business case for more investment from the board of directors. What Is Not Covered Under Cyber Insurance?

Cyber Insurance 105

Cyber Insurance Insurance Marketing Firewall 105

Security Boulevard

NOVEMBER 24, 2023

The traditional actuary models do not apply well to an environment where highly motivated, creative, and intelligent attackers are dynamically pursuing actions that cause insurable events. But even after two decades, there’s a wide range of loss ratios between insurers (-0.5% to 130.6%).

Insurance 72

Insurance Risk Cyber Insurance Cybersecurity 72

CyberSecurity Insiders

MAY 26, 2021

A team of experts from the cyber arm of Congress is busy studying the costs involved when the critical infrastructure is targeted by cyber attacks.

Insurance 78

Insurance Risk Cyber Insurance Cyber Attacks 78

SecureWorld News

FEBRUARY 6, 2024

New regulatory filings have exposed the skyrocketing costs of major cyber incidents, as big brands Clorox and Johnson Controls admitted collectively suffering more than $75 million in attack-related expenditures last year. Cleaning giant Clorox was struck by an unspecified cyber event discovered in August 2023.

Insurance 117

Insurance Cyber Insurance Cyber Risk Cyber threats 117

Digital Shadows

NOVEMBER 26, 2024

The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. This demonstrates how threat actors are willing to exploit even the most sensitive of events for malicious purposes. com and hurricaneheleneclaimhelp[.]com.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

SecureWorld News

DECEMBER 7, 2022

These algorithms will be able to learn and adapt to changing patterns in cyber threats, allowing them to detect and respond to attacks in real time. Cyber insurance trends in 2023. And for an in-depth look at the evolving threat landscape, particularly for email attack vectors, join our eSummit event on December 13, 2022.

Cybersecurity 98

Cybersecurity Cyber Insurance Insurance Social Engineering 98

Malwarebytes

SEPTEMBER 14, 2022

5 technologies that help prevent cyber attacks for SMBs (ranked in order of importance). Bonus: Cyber insurance. Without cyber insurance, you can expect to pay a dizzying amount of cash. Read more: 4 ways businesses can save money on cyber insurance. Let’s recap.

Technology 80

Technology DNS Cyber Insurance Insurance 80

SecureList

NOVEMBER 9, 2022

Given the continued surge of ransomware attacks, which soared 288% in the first half of 2022 alone, the need for cyber insurance will be a bigger priority, especially in the SMB market. Yet, in addition to cyber insurance, companies will need a designated DR or RR (Rolling Recovery) plan.

Cybersecurity 145

Cybersecurity Cyber Insurance Cybercrime IoT 145

Schneier on Security

FEBRUARY 28, 2024

One possible solution, touted by former Department of Homeland Security Secretary Michael Chertoff on a recent podcast , would be for the federal government to step in and help pay for these sorts of attacks by providing a cyber insurance backstop.

Cyber Insurance 298

Cyber Insurance Insurance Government Cyber Risk 298

SecureWorld News

DECEMBER 2, 2020

The only way around the publishing of the data is to pay the attackers. "We We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. Which of the ransomware gangs or groups hit K12 Inc and its network in this cyber attack?

Insurance 60

Insurance Cyber Insurance Ransomware Backups 60

eSecurity Planet

MARCH 17, 2023

These platforms make it possible for security teams to analyze consolidated threat feeds from various external alerts and log events. Breach and Attack Simulation Product Guide Top 20 Breach and Attack Simulation (BAS) Vendors Penetration Testing Penetration testing is a tried-and-true method of cyber attack simulation.

Network Security 122

Network Security Penetration Testing Firewall Software 122

Thales Cloud Protection & Licensing

NOVEMBER 15, 2023

Airports are high-risk locations and more vulnerable to cyber-attacks than airlines. These operational workflows include managing events across the identity lifecycle, access reviews to maintain regulatory compliance, background checks by government officials, and ad-hoc temporary access requests.

Cybersecurity 87

Cybersecurity Authentication Cyber Insurance Digital transformation 87

Centraleyes

JUNE 11, 2024

Leverage Security Information and Event Management (SIEM) solutions, Endpoint Detection and Response (EDR) capabilities, and threat intelligence feeds to enhance detection and response capabilities. According to HBR, the global insurance community saw the first cyber insurance program exceed $1 billion in 2020, and the number is only growing.

Risk 52

Risk Cyber Insurance Insurance Authentication 52

Digital Shadows

OCTOBER 14, 2024

Employees must be aware of how attackers might manipulate them into revealing sensitive information or granting the attackers access to secure systems. However, given the increasing sophistication of these attack techniques, education alone isn’t always enough to prevent a cyber attack.

Ransomware 94

Ransomware Social Engineering Insurance Cyber Insurance 94

SecureWorld News

JANUARY 21, 2024

The costs of recovering from such incidents, especially for smaller organizations without cyber insurance, can be devastating. These losses are not just monetary; the time and resources diverted to deal with the aftermath of an attack can significantly hamper operational efficiency.

Cybersecurity 104

Cybersecurity Backups Cyber threats Software 104

Spinone

DECEMBER 8, 2016

Cybersecurity is often overlooked by small business, but over 60% of cyber attacks are targeted at small to medium-sized businesses. G Suite security insurance removes and mitigates major risks of malware attacks and imposes those on the insurance company. There are many G Suite security risks.

Insurance 40

Insurance Small Business Backups Cyber Insurance 40

Cytelligence

FEBRUARY 4, 2020

The 2019 Cybersecurity Almanac published by Cisco and Cybersecurity Ventures predicts that cyber events will cost $6 trillion annually by 2021, as companies are digitizing most of their processes and are often operating remotely. Global cyber insurance premiums are expected to grow from $4 billion in 2018 to $20 billion by 2025.

Penetration Testing 45

Penetration Testing Insurance Data preservation Risk 45

CyberSecurity Insiders

JANUARY 5, 2022

This alliance will allow the healthcare system to reduce its risk of a cyber-attack and help them achieve its cybersecurity goals. “We The cost of these cyber events is rising sharply with cyber insurance premiums and compliance requirements increasing.

Healthcare 40

Healthcare Risk Cyber Insurance Cyber Attacks 40

Centraleyes

DECEMBER 19, 2024

Record Retention for Cybersecurity Logs Hospitals must retain detailed records of their cybersecurity activities, including events logs, for at least six years. This includes audit trails and logs of any actions taken in response to security events. What Are the Implications for Cyber Insurance?

Healthcare 52

Healthcare Cybersecurity Penetration Testing CISO 52

eSecurity Planet

FEBRUARY 16, 2021

A ransomware attack is about as bad as a cyber attack can get. It can shut down your business – in the case of healthcare organizations that can be life-threatening for patients – damage your reputation with customers and employees, and invite further attacks as cybercriminals view your organization as an easy mark.

Ransomware 97

Ransomware Backups Software Encryption 97

eSecurity Planet

JANUARY 11, 2022

Most traditional tools used for investigating cyber attacks cannot assess potential impacts on these environments. Deduce offers actionable identity intelligence through event-level telemetry to act against abnormal user activity. Cowbell Cyber. Also read: Top Endpoint Detection & Response (EDR) Solutions for 2022.

Cybersecurity 142

Cybersecurity Threat Detection Artificial Intelligence Risk 142

Cisco Security

MARCH 22, 2022

Cyber insurance is not the answer! Build for Cyber resiliency – it offers the best chance for achieving mission and business goals in the face of increasing sophisticated cyber attacks. Bruce also highlights several Frameworks that offer great guidance to make your cyber decisions.

Cyber Insurance 98

Cyber Insurance Authentication Insurance Cyber Risk 98