Cyber insurance as part of the cyber threat mitigation strategy
We Live Security
JUNE 26, 2024
Why organizations of every size and industry should explore their cyber insurance options as a crucial component of their risk mitigation strategies
The future of cyber insurance
IT Security Guru
FEBRUARY 28, 2023
Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.
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Cyber Insurance Costs Soaring: Is Your Organization Covered Enough?
SecureWorld News
JANUARY 11, 2024
Cybersecurity threats are a growing menace, wreaking havoc on businesses and individuals alike. In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents.
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What is Cyber Insurance? Here’s Everything You Need to Know
Security Boulevard
MARCH 15, 2022
With the cyber threat landscape showing no sign of becoming less risky, many businesses want to transfer some of their risk to cyber insurance providers. In fact, by 2020, 78% of corporate risk managers bought some type of cyber insurance coverage for their company. The post What is Cyber Insurance?
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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks
SecureWorld News
MARCH 20, 2024
In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network. Here, cyber insurance serves as an invaluable safety net by offering essential financial coverage and support services in the event of a ransomware attack occurring.
Top 8 Cyber Insurance Companies for 2022
eSecurity Planet
APRIL 22, 2022
Cyberattacks are not only a technological problem for companies, but they also represent a very real financial threat. That’s where cyber insurance may be able to help. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage.
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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep
The Last Watchdog
OCTOBER 5, 2023
Acohido to share his ideas about the current cyber threat landscape, the biggest threats for businesses today, the role of AI and machine learning in cyberattacks and cyberdefence, and the most effective methods for companies to protect themselves. Erin: What are some of the biggest cyber threats that businesses face today?
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Cyber Insurance Premiums Decline as Businesses Boost Security Measures
SecureWorld News
JULY 2, 2024
Global cyber insurance premiums are declining despite an uptick in ransomware attacks, according to a recent report by insurance broker Howden. This trend reflects improved business security practices, evolving insurance industry dynamics, and changing attitudes toward cyber risk management.
Work from home increases Cyber Threats on Enterprises
CyberSecurity Insiders
MARCH 25, 2021
Cyber Threats have increased on enterprise networks and all thanks to the latest trend of work from home that is being practiced by most of the firms operating across the globe to prevent the spread of Corona Virus. The post Work from home increases Cyber Threats on Enterprises appeared first on Cybersecurity Insiders.
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Report: Cyber Insurance Not Driving Ransomware Market
SecureWorld News
AUGUST 1, 2023
-based Royal United Services Institute (RUSI) for Defence and Security Studies conducted an extensive 12-month research project , which aimed to examine the role of cyber insurance in addressing the threats posed by ransomware. RUSI's research challenges the notion that cyber insurance is a direct catalyst for ransomware.
As market for cyber insurance booms, watchdog calls for better data
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.
These are the 15 Top Cyber Threats Now
SecureWorld News
NOVEMBER 12, 2020
Sometimes when you are down in the cyber attack trees defending your organization, it can be tough to see the cyber threat forest. Understanding how things are shifting in the forest, or overall threat landscape, can help us categorize, strategize, and prioritize our resources. What are the top cyber threats right now?
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P-to-P fraud most concerning cyber threat in 2023: CSI
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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What’s happening in the world of personal cyber insurance?
Malwarebytes
APRIL 27, 2022
Personal insurance plans are slowly becoming a more visible and talked about topic. I’m fascinated to see talk of personal cyber insurance , in an area dominated by business. The plans referenced in the article are for people seeking cyber insurance in India. A brave new world, or same-old same-old?
Unlock Savings: The Impact of Strong Passwords To Reduce Cyber Insurance Costs for Businesses
Cytelligence
OCTOBER 18, 2023
Cyber threats have become a significant concern for businesses of all sizes. The cost of cyber attacks, including financial losses, reputational damage, and legal consequences, can be staggering. To mitigate these risks, businesses often invest in cyber insurance. This is where CYPFER comes in.
What you need to know: The biggest cyber threats in 2024
Webroot
SEPTEMBER 24, 2024
In today’s world, both small businesses and everyday consumers face a growing number of cyber threats. OpenText’s 2024 Threat Hunter Perspective sheds light on what’s coming next and how to protect yourself. Cyber insurance might also be worth looking into as an additional safety net.
Ransomware: Number One Cyber Insurance Claim
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 company says that ransomware accounted for 41% of cyber claims. Cyber insurance works.
2024 Cyber Insurance Requirements Predictions
Trend Micro
JANUARY 8, 2024
As the threat landscape evolves and the cost of data breaches increase, so will cyber insurance requirements from carriers. Cyber Risk Specialist Vince Kearns shares his 4 predictions for 2024.
Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges
Security Affairs
NOVEMBER 6, 2018
While developing the insurance program the two companies have scored more than 20 crypto exchanges and crypto wallets providers using both open-source information, available on exchanges’ websites and analytical capabilities of Group-IB’s Threat Intelligence (TI) system. The full list of platforms is available on CryptoIns website.
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Cyber insurance companies need to focus more on risk profiles – and less on security ratings scores
SC Magazine
APRIL 23, 2021
For example, they’re used in boardrooms as “eye candy” to portray the state of company cyber-risk, with supply chain partners to manage third-party risk and, even more frightening, by insurance companies to create risk profiles for cyber-insurance policies. Does it truly reflect the security of the company? Usually not.
Download eBook: Top virtual CISOs share 7 tips for vCISO service providers
The Hacker News
OCTOBER 24, 2022
But vCISO services are
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Cloudflare Helps Businesses Manage Their Cyber Risk; Announces Partnerships with Leading Cyber Insurers and Incident Response Providers
CyberSecurity Insiders
DECEMBER 11, 2021
NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it is partnering with leading cyber insurance companies to help businesses manage their risks online. As a result, some insurance companies have had to raise premiums to cover their costs.
The Ongoing Cyber Threat to Critical Infrastructure
Thales Cloud Protection & Licensing
JULY 21, 2022
The Ongoing Cyber Threat to Critical Infrastructure. With that in mind, Thales has launched the 2022 Thales Data Threat Report Critical Infrastructure Edition, which includes responses from 300 security leaders and practitioners within critical infrastructure organizations. Thu, 07/21/2022 - 12:28.
Announcing new EDR capabilities for Webroot Endpoint Protection
Webroot
AUGUST 19, 2024
With Process Tree Visualization, defenders gain insights into device-level processes, enabling you to trace the origins and pathways of processes, providing a clear view of potential threats. Stay tuned for these updates and join us in strengthening your cybersecurity defenses with Webroot’s innovative solutions.
Cynomi Automated Virtual CISO (vCISO) Platform for Service Providers
The Hacker News
JULY 21, 2022
Growing cyber threats, tightening regulatory demands and strict cyber insurance requirements are driving small to medium-sized enterprises demand for strategic cybersecurity and compliance guidance and management. Yet current vCISO services models still rely on manual
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26 Cyber Security Stats Every User Should Be Aware Of in 2024
Security Affairs
FEBRUARY 8, 2024
Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 Cyber Skills Gap: By 2025, there could be 3.5 million unfilled cyber security jobs, showing a big need for skilled professionals. Market Growth: AI cyber security technology is projected to grow by 23.6%
What you need to know: The biggest cyber threats in 2024
Webroot
SEPTEMBER 27, 2024
In today’s world, both small businesses and everyday consumers face a growing number of cyber threats. OpenText’s 2024 Threat Hunter Perspective sheds light on what’s coming next and how to protect yourself. Cyber insurance might also be worth looking into as an additional safety net.
Top 10 Cybersecurity Trends to Expect in 2025
Hacker's King
DECEMBER 24, 2024
With the advent of new technologies and rising cyber threats , 2025 promises significant shifts in the cybersecurity domain. Expansion of Cyber Insurance As cyberattacks grow in frequency and scale, the demand for cyber insurance will surge.
5 Trends to Watch for Cybersecurity in 2023
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. This will put even more pressure on businesses to find and hire the talent they need to protect themselves from cyber threats. Cyber insurance trends in 2023.
Top Cyber Security Challenges Post Lockdown
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. The post Top Cyber Security Challenges Post Lockdown appeared first on Security Boulevard.
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Q&A: Why SOAR startup Syncurity is bringing a ‘case-management’ approach to threat detection
The Last Watchdog
MARCH 1, 2019
Sutton: SOAR was born out of the gap between what SIEMs were supposed to be and the rising sophistication of cyber threats. The ability to prove you have a process, and demonstrate the audit trail showing you used that process, will become the subject of increased scrutiny by regulators and cyber insurance underwriters.
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CFOs ignoring billions of dollars loss incurred through Cyber Risks
CyberSecurity Insiders
SEPTEMBER 13, 2022
CFOs also should take part in simulations and training conducted by companies meant to evaluate their cyber security strengths and susceptibilities- as a part of the proactive security approach. So, as to understand the investment strategies, expenditure and risks involved in evading budget allotment to cyber incidents.
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Cyberattacks Deal Heavy Financial Blows to Clorox, Johnson Controls
SecureWorld News
FEBRUARY 6, 2024
"The incidents involving Clorox and Johnson Controls highlight significant operational disruptions and financial losses due to cyber-related incidents," said Callie Guenther, Senior Manager of Cyber Threat Research at Critical Start.
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New DHS Rules Aim to Enhance Visibility Across Critical Infrastructure
SecureWorld News
MARCH 28, 2024
The goal of these mandatory reporting requirements is to help the federal government rapidly deploy resources to cyberattack victims, analyze trends to spot emerging threats quicker, share actionable warnings with potential targets, and ultimately strengthen America's cybersecurity resilience and incident response capabilities.
Webroot managed detection and response (MDR) purpose-built for MSPs
Webroot
JUNE 2, 2022
The cyber threat landscape keeps evolving at lightning-speed. According to the latest 2022 BrightCloud® Threat Report , small to medium-sized businesses (SMBs) are particularly vulnerable to becoming a victim of a ransomware attack. Ransomware, malware and phishing threats keep evolving.
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Cybersecurity Insights with Contrast CISO David Lindner | 10/11/24
Security Boulevard
OCTOBER 11, 2024
Insight #1: CISOs, you need insurance coverage According to German multinational insurance company Munich Re, the global cyber insurance market is expected to rise from $14 billion to $29 billion by 2027.
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2023 Predictions for Storage and Backup Ransomware
CyberSecurity Insiders
JANUARY 6, 2023
2022 clearly demonstrated that attacks on data represent the greatest cyber-threat organizations face. Insurance Refusals and Rate Hikes. Many organizations remain unaware of the threat posed to their data by insecure storage and backup systems. But not insurance companies.
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Most German Firms are vulnerable to Cyber Attacks
CyberSecurity Insiders
APRIL 19, 2021
Gareth Wharton, the CEO of Hiscox, said that cyber attacks are turning complex. He added that with risk management schemes, cyber insurance, threat monitoring solutions and with properly trained staff we can easily manage such cyber threats. But that does not mean that they are difficult to manage.
How Do Cybersecurity Companies Make Money?
Hacker's King
OCTOBER 10, 2024
In today’s digital era, where cyber threats are constantly evolving, cybersecurity companies play a crucial role in protecting individuals, businesses, and governments from malicious attacks. With cyber threats increasing, there’s a constant demand for cutting-edge security software.
XM Cyber’s Cybersecurity Predictions for 2023
CyberSecurity Insiders
JANUARY 10, 2023
Cyber threats are also growing even more rapidly because of the economic downturn globally, so companies that invested heavily in security controls before the ‘boom’ and in costly incident response activities afterwards will need to increase investment in the preventive realm to justify cyber insurance.”.
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Staying Ahead of the Distortion of a Cyber Attack?
Security Boulevard
JULY 30, 2022
Given this fact, businesses should note the growing number of security issues and cyber threats. Will cyber insurance continue to be an option that organizations can rely on? Cybercriminals are always looking for new ways to steal from companies and individuals. Distortion hacks are becoming more common.
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Security Standoff: IT Department vs. City Councilman
SecureWorld News
JULY 29, 2021
From his point of view, taking the training is about two things: the city's insurance policy and the city's constituents. While we are bound by the stipulations in our cyber insurance agreement, we also have a responsibility to protect the private information and data of citizens and companies that interact with the city.
How Your Business Could Protect Its Cybersecurity in a Surprisingly Cost-Effective Fashion
IT Security Guru
MAY 24, 2023
It helps to protect your organisation, workforce and clients from cyber-attacks. By doing this, you are reducing the chance of identity theft, data breaches, ransomware, and many other types of cyber threats. By doing this, you allow your team to have access to an efficient and inexpensive way of avoiding cyber threats.
Education Sector has Seen a 44% Rise in Cyber Attacks Since 2021
CyberSecurity Insiders
OCTOBER 24, 2022
The education sector is increasingly vulnerable to simple and sophisticated cyber threats, and higher learning is especially vulnerable. Cyber insurance. Often, educational institutions see cyber insurance as a needless expense. Until they need it. Conclusion.
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