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
Cyber Insurance Cyber threats Insurance 
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.
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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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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.
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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Report: Cyber Insurance Not Driving Ransomware Market
SecureWorld News
AUGUST 1, 2023
One aspect of these cyberattacks that has been hotly debated is the role that cybersecurity insurance plays in these incidents. To better understand the relationship between insurance and ransomware, U.K.-based RUSI's research challenges the notion that cyber insurance is a direct catalyst for ransomware.
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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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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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.
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.
What’s happening in the world of personal cyber insurance?
Malwarebytes
APRIL 27, 2022
You’ve likely only seen cybercrime insurance primarily mentioned in relation to attacks on businesses. Some folks think the mere presence of insurance simply encourages more attacks , and is hurting more than it’s helping. Personal insurance plans are slowly becoming a more visible and talked about topic.
As market for cyber insurance booms, watchdog calls for better data
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).
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.
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.
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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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.
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.
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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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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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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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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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.
What is Cyber Liability Insurance?
Duo's Security Blog
JUNE 21, 2021
Don’t worry though, there's already an insurance policy for that. What is Cyber Liability Insurance? Cyber liability insurance, sometimes known as cyber insurance, is distinct from traditional commercial general liability and property insurance policies.
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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.
Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges
Security Affairs
NOVEMBER 6, 2018
Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?
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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.
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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FAIR Model Risk Management – Pros and Cons
Centraleyes
SEPTEMBER 24, 2024
FAIR & Cyber Insurance The FAIR risk assessment tool is particularly useful to both insurance companies and their clients to quantify expected losses. A company must first calculate its potential losses in the event of a successful cyber threat actualizing in order to effectively transfer cyber risks to insurers.
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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.
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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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.
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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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%
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.
CFOs ignoring billions of dollars loss incurred through Cyber Risks
CyberSecurity Insiders
SEPTEMBER 13, 2022
So, as to understand the investment strategies, expenditure and risks involved in evading budget allotment to cyber incidents. Kroll also reiterated on the fact of cyber insurance being presented as a silver bullet to solve all cybersecurity risks. So, how CFOs should respond to such situations?
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12 Essential Risk Mitigation Strategies for 2024
Centraleyes
JUNE 11, 2024
Emphasize defense-in-depth principles by combining traditional intrusion detection mechanisms with advanced threat detection technologies to effectively identify and mitigate sophisticated cyber threats.
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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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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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Local government cybersecurity: 5 best practices
Malwarebytes
SEPTEMBER 30, 2022
Take cyber insurance , for example. Cyber insurance can prevent local governments from having to pay huge out of pocket costs in the event that they’re hit with a cyberattack. 24/7 monitoring of cyber threats. Related : Cyber threat hunting for SMBs: How MDR can help. Incident response.
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[Q&A] Chubb Cyber Insurance Clients Activate Proactive Security with NetSPI
NetSpi Executives
JANUARY 8, 2024
In case you missed it, Chubb, one of the leading publicly traded property and casualty insurance companies, announced an innovative collaboration with NetSPI to strengthen client cyber-risk profiles via enhanced attack surface management and penetration testing solutions. What is proactive security?
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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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.
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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