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Cybersecurity is a leading concern for risk managers as AI-related cyberrisks surge, and despite growing investments, many businesses still lack comprehensive cyberinsurance, according to a Nationwide survey.
Taking a risk-based approach to cyberrisk and quantifying cyberrisk empowers businesses to truly focus on mitigating the risks that really matter. The post CyberInsurance Market Evolves as Threat Landscape Changes appeared first on Security Boulevard.
In this regard, many have touted cyberinsurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network. As these incidents grow in sophistication, they exploit vulnerabilities in security systems, often outpacing the ability of organizations to respond effectively.
Cyberinsurance trends in 2023. As the three previous trends discussed how certain aspects of the cybersecurity industry will continue to grow in 2023, expect the same from the cyberinsurance market. Security leaders will start integrating human risk management into their overall security strategy.
. “IT Security buyers don’t have as much time as they’d like to research and choose security solutions – a situation exacerbated by vendors that exaggerate their capabilities and sell products that don’t meet expectations,” the Egress report said.
Phishing links are still clicked on and while this is likely due to poor cyberawareness, the situation could be worse in a home environment with greater dependence on email for work requests and less support and supervision.
Mike Parkin, Senior Technical Engineer at Vulcan Cyber, a provider of SaaS for enterprise cyberrisk remediation, is a fan of the collaborative. Sean Scranton is a consultant on the CyberRisk Solutions Team at WTW and often speaks on cyberinsurance issues. He says: "I love this idea!
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