Security Affairs

DECEMBER 28, 2022

The chief executive of insurance giant Zurich warns that cyber attacks, rather than natural catastrophes, will become uninsurable. Mario Greco, chief executive of insurer giant Zurich, has warned that cyber attacks will become soon “uninsurable.”. These people can severely disrupt our lives.”

Cyber Attacks 98

Cyber Attacks Cyber Insurance Insurance Cyber Risk 98

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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Cyber Insurance Insurance Risk Technology 100

SC Magazine

MAY 24, 2021

In a report released May 20, the Government Accountability Office looked at how the private cybersecurity insurance market has developed over the past five yearsRich Baich is global chief information security officer for insurance giant AIG. Photo by Spencer Platt/Getty Images).

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Cyber Insurance Insurance Marketing Cyber Risk 94

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.

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Cyber Insurance Insurance Cyber Risk Cyber Attacks 77

Duo's Security Blog

OCTOBER 7, 2022

In this blog, we explain why it makes sense for these firms to work with managed service providers (MSPs) to help bolster their security posture and increase their chances of getting cyber liability insurance cover as insurers continue to raise the bar. Small business cyber insurance: Is it really needed?

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Small Business Cyber Insurance Insurance Cyber Risk 98

Security Boulevard

MAY 11, 2022

Cyber-attacks are becoming more sophisticated and devastating, especially for small and medium enterprises (SMEs). With ransom demands rising and the cost of data breaches soaring, businesses are investing heavily in building their cyber defenses. However, cybersecurity is not bullet-proof.

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Cyber Risk Insurance Authentication Risk 52

The Last Watchdog

JUNE 2, 2022

Third-Party Risk Management ( TPRM ) has been around since the mid-1990s – and has become something of an auditing nightmare. Related: A call to share risk assessments. Cyber risks profiling. CyberGRX’s global cyber risk Exchange caught on quickly.

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Cyber Risk Risk Digital transformation Insurance 266

Duo's Security Blog

JUNE 9, 2022

From these conversations, it is clear cyber liability insurance is steadily rising to the top of the agenda, due to the sheer amount and scale of cyber-attacks hitting firms. So how do insurers get hold of that kind of insight? Here are my key takeaways.

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Insurance Marketing CISO Cyber Insurance 97

Security Boulevard

NOVEMBER 24, 2023

First published by HelpNetSecurity  — Matthew Rosenquist Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance. to 130.6%).

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Insurance Risk Cyber Insurance Cybersecurity 72

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.

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Cyber Insurance Insurance Cyber Risk Marketing 69

Security Affairs

NOVEMBER 14, 2022

The size of the cyber risk to companies cannot be underestimated. To indicate the size of the cyber risk to companies, there is, on average, a cyber-attack every 39 seconds, which does not mean that every attack is successful, but that there is an attempt to access companies’ computer systems with that frequency.

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Cyber Risk Insurance Cyber Attacks Risk 142

Duo's Security Blog

FEBRUARY 4, 2025

With the rate that new threats emerge, it may come as no surprise that cyber liability insurance can be traced back to 1997. In its modern iteration, cyber liability insurance mitigates the losses and business costs associated with cyber incidents and resulting downtime. What would an insurer do?

Cyber Insurance 60

Cyber Insurance Insurance Authentication Risk 60

Security Affairs

MARCH 27, 2019

Norwegian aluminum giant Norsk Hydro estimates more than $40 million losses in the first week following the ransomware attack that disrupted its operations. The news of the cyber attack had an immediate economic impact and caused a drop in the share price of 2.0 percent in early trading on the Oslo Stock Exchange.

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Insurance Cyber Attacks Ransomware Advertising 109

CyberSecurity Insiders

OCTOBER 23, 2021

By tapping into the advanced capabilities of our IT scanning technology, we’re proud to share actionable data to increase awareness around the current state of cyber risk technology and help eliminate the impact of adverse events — especially as we approach the end of a pivotal year,” said Madhu Tadikonda, President of Corvus Insurance. “We

Insurance 59

Insurance Cyber Risk Ransomware Technology 59

The Security Ledger

JUNE 24, 2021

A coordinated cyber attack on U.S. How likely is such an attack? I case you’ve been living under a rock for the last year, let’s review: attacks on critical infrastructure are a thing. Episode 158: How NotPetya has Insurers grappling with Systemic Cyber Risk. The consequences of any attack on the U.S.

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Cyber Risk Risk Cyber Attacks Ransomware 52

SecureWorld News

AUGUST 25, 2021

How am I protecting my organization from an attack? What will our insurance cover? As ransomware attacks have spiked in the last year, a common theme for many organizations is that the attack was the result of failed cybersecurity. Nor is it an improbable cyber Armageddon. Cyber insurance fueling ransomware?

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Ransomware Insurance Cyber Risk Cyber Insurance 98

SecureWorld News

FEBRUARY 6, 2024

Businesses make calculated risk decisions balancing attack prevention costs against potential breach impact." These incidents underscore regulatory aims for public cyber risk transparency. For the broader industry, it's valuable threat intelligence highlighting the financial implications of cyber incidents."

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Insurance Cyber Insurance Cyber Risk Cyber threats 113

NopSec

AUGUST 30, 2013

If you are responsible for IT security in the financial services industry, you may have been asked by a regulator to disclose details on your company’s preparedness for cyber-attacks. NopSec has received requests for help from customers at banks, credit unions, and insurance.

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Insurance Cyber threats Banking Financial Services 40

The Security Ledger

OCTOBER 3, 2019

In this episode of Security Ledger Podcast (#163) sponsored by LastPass: companies are spending more than ever on cyber security, but feel less secure. Kevin Richards of the insurer Marsh joins us to talk about that company's Cyber Risk Perceptions Survey. Read the whole entry. » “We’ve never spent more.

Cyber Risk 40

Cyber Risk Risk Passwords Insurance 40

IT Security Guru

JUNE 17, 2024

Reputational Damage Public perception of an organisation can be severely tarnished by a ransomware attack, especially if customer data is compromised or service disruptions affect stakeholders. These attacks can have cascading effects that impact public safety and national security. Some businesses never fully recover.

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Ransomware Insurance Risk Backups 137

CyberSecurity Insiders

DECEMBER 18, 2022

Cyber attribution and deciphering the extent of state-level tasking is difficult, with blurred lines between state-aligned, state-involved and state-directed increasing the risk of escalation, collateral and misattribution.

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Cybersecurity CISO Insurance Ransomware 125

Security Boulevard

JUNE 8, 2021

It’s important to remember, however, as we slowly transition back into some semblance of normality, that there will be new challenges to face in all facets of life, and the Cyber Security sector is no exception. Human error is still the number one cause of cyber attack and home working could make this even more prominent.

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Cyber Insurance Cyber Attacks Cyber threats Insurance 105

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. I believe we'll see more exemption clauses denying coverage for ransomware and other specific attack types.".

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Cybersecurity Cyber Insurance Insurance Social Engineering 98

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.

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Cybersecurity Cyber Insurance Insurance CISO 98

Schneier on Security

FEBRUARY 28, 2024

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. 11, 2001, terrorist attacks. The 9/11 attacks cost insurers and reinsurers $47 billion.

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Cyber Insurance Insurance Government Cyber Risk 312

Centraleyes

JULY 24, 2024

Coverage Confusion Most policies cover data breaches and cyber attacks, but what about system failures from an update gone wrong? Insurers and businesses need to figure out if their policies cover losses from such disruptions and how to validate these claims. Businesses should check if their policies cover this kind of glitch.

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Insurance Cyber Risk Healthcare Data breaches 52

Security Boulevard

JUNE 23, 2022

In just a few years, cyber has transformed from the nerd in the corner into the Kim Kardashian of risk. businesses can be built on, and destroyed by, cyber risk. Serious cyber incidents will hit the headlines, so you need to have a media management strategy ready to limit any reputational damage.

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Insurance Cyber Risk CISO Cyber Insurance 52

eSecurity Planet

JANUARY 12, 2021

Cybersecurity preparedness/ insurance. With security risk assessments, the cybersecurity professionals within an organization can clearly see the efficiency of the organization’s controls, determine risk factors, come up with detailed plans and solutions, detect vulnerabilities and offer options to alleviate them. Data backups.

Risk 71

Risk Penetration Testing Cyber Risk Cyber Attacks 71

Security Boulevard

FEBRUARY 8, 2023

Click here to watch the roundtable and learn about the future of cyber insurance from leading experts. In partnership with Cysurance, BlastWave hosted a roundtable entitled “The Future of Cyber Insurance and MSP Insurability. of Morris Risk Management, John Franzino of Grid Security Inc.,

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Cyber Insurance Insurance Marketing Risk 52

eSecurity Planet

FEBRUARY 11, 2022

Risk management is a concept that has been around as long as companies have had assets to protect. The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses.

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Risk Cybersecurity Encryption Technology 145

The Security Ledger

JULY 22, 2020

In this Spotlight podcast* we’re joined by Andrew Jaquith, the CISO at QOMPLX to talk about how the COVID pandemic is highlighting longstanding problems with cyber risk management and cyber resilience. Andy is an amazing resource on all matters cyber security. Read the whole entry. » New Tech Meets Old Tools.

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CISO Cyber Risk Ransomware Risk 52

SecureWorld News

MARCH 3, 2021

This is just more proof that cyber risk is a business risk. Universal Health Services (UHS), an American Fortune 500 company that provides healthcare services, recently revealed that it fell victim to a cyberattack in late September 2020 which forced IT networks to be shutdown at multiple hospitals in the US.

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Data breaches Technology Healthcare Insurance 98

Pen Test Partners

NOVEMBER 4, 2024

Maritime cyber insurance has been playing catch-up with maritime cyber security for a while now. As a result maritime cyber regulation is on the catch up. As a result maritime cyber regulation is on the catch up. 2 covered guidance for cyber at sea, but it didn’t have the desired effect. Lawyers assemble!

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Insurance Technology Cyber Insurance Cyber Risk 64

The Security Ledger

DECEMBER 19, 2018

In this spotlight edition* of The Security Ledger Podcast, Steve Hanna of Infineon joins us to talk about the growing risk of cyber attacks on industrial systems and critical infrastructure. is poised to transform the global economy, Hanna said, but not if the issue of cyber risk can't be managed. Industry 4.0"

Internet 40

Internet Internet IoT Cyber Risk 40

Joseph Steinberg

AUGUST 5, 2021

While leveraging cyber-liability insurance has become an essential component of cyber-risk mitigation strategy, cyber-liability offerings are still relatively new, and, as a result, many parties seeking to obtain coverage are still unaware of many important factors requiring consideration when selecting a policy.

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Insurance Cyber Insurance Artificial Intelligence Ransomware 258

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.

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Penetration Testing Insurance Data preservation Cyber Insurance 45

Responsible Cyber

APRIL 8, 2020

Small and mid-sized enterprises (SMEs) are increasingly at risk of cyber-attacks, and often serve as a launch pad for larger threat campaigns, according to Cisco’s 2018 SMB Cybersecurity Report. To mitigate cyber risks, small and medium businesses must develop a strategy to improve their cybersecurity posture.

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