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 Risk 
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.
Join 28,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Trending Sources
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. On top of this, a significant 41% of victims opted to pay the ransom, which is a difficult decision that's fraught with its own respective complexities and risks.
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.
Cyber Insurance 
104
104 
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.
Cyber Insurance 114
114 
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.
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.
Cyber Insurance 110
110 
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.
Cyber Insurance 119
119 
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.
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?
Cyber threats 203
203 
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.
Cyber threats 128
128 
Cyber insurance companies need to focus more on risk profiles – and less on security ratings scores
SC Magazine
APRIL 23, 2021
Richards argues that this rise has a dramatic impact on a company’s risk profile and one reason why security ratings scores are not always useful. And, because of this, cyber insurance companies using these scores rely on an inaccurate assessment of target-company risk. FBI CreativeCommons CC PDM 1.0. Usually not.
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.
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.
Cyber threats 111
111 
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.
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 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.
FAIR Model Risk Management – Pros and Cons
Centraleyes
SEPTEMBER 24, 2024
Information risk is not just a technical problem but affects the bottom line and daily activities of most businesses. It takes an organization beyond just compliance with regulations and ‘best practices’ and shows a broader overall picture of risk from different angles. How does it work?
Risk 52
52 
12 Essential Risk Mitigation Strategies for 2024
Centraleyes
JUNE 11, 2024
Understanding the Foundation of Risk Mitigation Implementing robust risk mitigation strategies is essential to navigating the complexities of risk-related compliance activities. But before discussing risk mitigation techniques , we must discuss the necessary prep work.
Risk 52
52 
CFOs ignoring billions of dollars loss incurred through Cyber Risks
CyberSecurity Insiders
SEPTEMBER 13, 2022
Chief Financial Officers aka CFOs are ignoring billions of dollars loss incurred through cyber risks and threats, says a survey. Interestingly, over 87% of survey respondents are over-confident that their companies can overcome any level of threats, although their current Cybersecurity posture was never tested to the core.
Cyber Risk 131
131 
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. The Threat of Ransomware.
Mastering Cyber Risk Quantification Methods: A Strategic Approach
Centraleyes
JUNE 6, 2024
Quantitative Risk models have long been applied in the financial and insurable risk fields and are now being used extensively in cybersecurity. Quantifying risk helps manage risk by breaking it down and expressing it mathematically. What is Cyber Risk Quantification? What is Cyber Risk Quantification?
Cyber Risk 52
52 
US Treasury Warns of Cybersecurity Risks AI Poses to Financial Sector
SecureWorld News
MARCH 28, 2024
Department of Treasury on March 27th released a report titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector." The report highlights the growing concern around artificial intelligence (AI) and its potential to introduce new cybersecurity threats to the financial industry.
Risk 78
78 
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.
Annual Reports: How They Warn of Cyber Risk
SecureWorld News
OCTOBER 20, 2021
Cyberrisk is business risk. But how should we communicate this risk to the business, to clients, or to investors? Accenture annual report: risks we face from cyberattacks. However, we were most interested in seeing how Accenture articulated a particular business risk: the risk from a cyberattack.
Cyber Risk 81
81 
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 insurance period ranges from 90 to 365 days.
Insurance 88
88 
The Unseen Threats: Anticipating Cybersecurity Risks in 2024
Security Boulevard
JANUARY 18, 2024
Cybersecurity risks increase every year and bludgeon victims who fail to prepare properly. For those interested in a better understanding of the oncoming risks, this is the information you are looking for. It can feel like crossing a major highway while blindfolded. Many never see the catastrophe about to happen, until it occurs.
Risk 115
115 
Pondurance Launches Cyber Risk Assessments Powered by MyCyberScorecard
CyberSecurity Insiders
DECEMBER 14, 2021
INDIANAPOLIS–( BUSINESS WIRE )– Pondurance , a leader in Managed Detection and Response (MDR) services, today launched Cyber Risk Assessments powered by MyCyberScorecard. Comprehensive views of low, medium and high risk MyCyberScores. Streamlined workflows and robust analytics.
Cyber Risk 52
52 
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.
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.
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. These incidents underscore regulatory aims for public cyber risk transparency.
Insurance 94
94 
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. To try and prevent this, it is important to familiarise yourself with the NCSC Cyber Assessment Framework or NIST.
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. CTO, Cyber Tec Security. The post Top Cyber Security Challenges Post Lockdown appeared first on Security Boulevard.
Cyber Insurance 105
105 
Peer Report Explores Concerns, Challenges Facing Cybersecurity Leaders
SecureWorld News
AUGUST 23, 2023
This morning, Critical Start released its first ever Cyber Risk Landscape Peer Report , which explores some of the major concerns and challenges currently confronting cybersecurity leaders as they manage risk within their organizations. Here are some comments on the cyber risk landscape from cybersecurity vendor experts.
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.
Local government cybersecurity: 5 best practices
Malwarebytes
SEPTEMBER 30, 2022
And a key part of building out any cybersecurity policy for your local government is to develop an organizational understanding of risk to systems, people, data, and so on. Take cyber insurance , for example. 24/7 monitoring of cyber threats. Also delivered free of charge by the NCATS team. Adopt the fundamentals.
Government 57
57 
Cybersecurity for Nonprofits: Cost-Effective Defense Strategies
SecureWorld News
JANUARY 21, 2024
Nonprofits often juggle tight budgets and unique operational demands, making it even more difficult to keep sensitive information safe—but here's the thing: you don't need a fortune to build a strong defense against the possible cyber threats out there.
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.
Education 58
58 
Is an outsourced SOC worth it? Looking at the ROI of MDR
Malwarebytes
DECEMBER 15, 2022
A SOC, or team of professionals who monitor and respond to threats for your business, is a staple of Managed Detection and Response (MDR) services. MDR is an outsourced service which provides organizations with 24x7 attack prevention, detection, and remediation, as well as targeted and risk-based threat hunting. But hold up.
XM Cyber’s Cybersecurity Predictions for 2023
CyberSecurity Insiders
JANUARY 10, 2023
In 2023, Microsoft Active Directory (AD) will continue to be a major risk. The post XM Cyber’s Cybersecurity Predictions for 2023 appeared first on Cybersecurity Insiders. Some of the recent attacks we have seen, for example on Uber, did not use CVEs at all.”. Zur Ulianitzky, VP Research. “In
Cybersecurity 108
108 
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. A company’s loss of control over its business practices may lead to various risks, which cybercriminals quickly exploit. Will cyber insurance continue to be an option that organizations can rely on?
Cyber Attacks 110
110 
Let's personalize your content