Security Boulevard

OCTOBER 13, 2021

Will NYDFS’s Cyber Insurance Framework Set a Precedent for the Cyber Insurance Industry? As ransomware attacks reach unprecedented numbers and the number of record exposures continues to skyrocket, an increasing number of organizations are at risk of attack—and the cyber insurance industry is taking note.

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Schneier on Security

JULY 1, 2021

Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals. Often, that’s paying the ransom. News article.

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Security Boulevard

NOVEMBER 12, 2021

The post Are Cyber Insurers Cybersecurity’s New Enforcers? That means cyberattacks targeting enterprises and individuals are happening at a rate of about one attack every few seconds. The average ransom payment made by a business to. appeared first on Security Boulevard.

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Cyber Insurance Insurance Ransomware Cybersecurity 145

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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Security Boulevard

OCTOBER 31, 2024

With cybersecurity threats continuing to evolve at an accelerated pace, organizations need to ensure that their cyber insurance policies remain active at all times. The post Safeguarding Cyber Insurance Policies With Security Awareness Training appeared first on Security Boulevard.

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CSO Magazine

APRIL 27, 2021

Organizations will face significant challenges in purchasing, renewing, and benefitting from cyber insurance policies this year as various factors drive the sector towards a stricter, more specialized position, global specialists in law, risk, and cybersecurity predict.

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Cyber Insurance Insurance Ransomware Risk 142

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

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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Security Boulevard

JUNE 16, 2024

Cyber insurance and cybersecurity, when combined, can provide a powerful combination of protection and risk management. The post The Seven Things You Need to Know About Cyber Insurance appeared first on Security Boulevard.

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Security Boulevard

JULY 24, 2024

Taking a risk-based approach to cyber risk and quantifying cyber risk empowers businesses to truly focus on mitigating the risks that really matter. The post Cyber Insurance Market Evolves as Threat Landscape Changes appeared first on Security Boulevard.

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Cyber Insurance Insurance Marketing Cyber Risk 108

eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

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CyberSecurity Insiders

MARCH 18, 2021

After the SolarWinds cyber attack on Govt infrastructure, the government of United States seems to have taken Cybersecurity as a top priority to rectify any flaws that could make way to any future cyber attacks in the future. Maintain a senior management and board approved cyber insurance risk strategy. ·

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SC Magazine

JUNE 28, 2021

The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI. However, in practice, it is still yet to be seen if cyber insurance can fulfil this promise.”.

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Cyber Insurance Insurance Ransomware Marketing 136

SecureWorld News

APRIL 17, 2023

When considering adding a cyber insurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyber insurance can help ensure compliance with these requirements. Is it required?

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Cyber Insurance Insurance Risk CISO 100

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. If your company has not already experienced a significant cybersecurity event, it is probably only a matter of time before it does. However, a good cyber insurance provider can also leverage their partnerships to help your company afford better security controls.

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Cyber Insurance Insurance Marketing Small Business 105

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.

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Cyber Insurance Insurance Ransomware Risk 94

Security Boulevard

JANUARY 25, 2024

The growing number and sophistication of cyberattacks and the financial impact such incidents can have a company’s financial picture are driving more organizations to take out cybersecurity insurance, according to a survey from endpoint management firm Recast Software.

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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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SC Magazine

MARCH 24, 2021

Insurance firm CNA Financial, a prominent provider of cyber insurance, confirmed a cyberattack against its systems, which has some concerned that cybercriminals may target policyholders. Moreover, understanding the “scope of the incident, with the type and volume of data impacted, is paramount when a cyber incident occurs.

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Malwarebytes

JULY 10, 2022

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.

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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 This widely-held belief has fueled debates in policy-making circles and cybersecurity discussions.

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Cyber Insurance Insurance Ransomware Marketing 85

Schneier on Security

FEBRUARY 13, 2019

Zurich Insurance has refused to pay Mondelez International's claim of $100 million in damages from NotPetya. Those turning to cyber insurance to manage their exposure presently face significant uncertainties about its promise. Yet no cyber insurance policies cover this entire spectrum. Mondelez is suing.

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Cyber Insurance Insurance Cyber Risk Risk 212

We Live Security

OCTOBER 8, 2024

Could human risk in cybersecurity be managed with a cyber-rating, much like credit scores help assess people’s financial responsibility?

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Cyber Insurance Risk Insurance Cybersecurity 102

SecureWorld News

APRIL 29, 2022

Cyber insurance is a topic that many industry professionals have an opinion on. No matter what side of the debate you land on, one thing is certain: the cost of cyber insurance has been rising for years and will likely continue to do so. cyber insurance rate changes.

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CyberSecurity Insiders

AUGUST 26, 2022

Lloyd’s London, one of the largest insurance services providers in the world, has disclosed that it is making amendments to its cyber insurance laws that will come into effect from March 2023. All insurance companies exclude the risks inferred from war like situations.

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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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eSecurity Planet

NOVEMBER 9, 2018

Cyber insurance is one more way to manage cybersecurity risk. Here are the top cyber insurance vendors that can help.

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Security Boulevard

DECEMBER 7, 2022

The post Demystifying Cyber Insurance: 7 Key Security Controls Every Organization Should Have appeared first on Security Boulevard. 7 Key Security Controls Every Organization Should Have. .

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Cyber Insurance Insurance Risk Government 98

The Last Watchdog

APRIL 30, 2019

If your company is participating in the global supply chain, either as a first-party purchaser of goods and services from other organizations, or as a third-party supplier, sooner or later you’ll encounter the NIST Cybersecurity Framework. This includes not just the NIST CSF, but also the newly minted NIST Risk Management Framework 2.0,

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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.

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Cyber Risk Risk Cyber Insurance Insurance 131

Centraleyes

DECEMBER 16, 2024

As we approach 2025, the cybersecurity landscape is evolving rapidly, shaped by technological advancements, regulatory shifts, and emerging threats. Below is an exhaustive list of key cybersecurity trends to watch out for in 2025. Lets explore the top current cybersecurity trends this year. The challenge?

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The Last Watchdog

DECEMBER 18, 2024

This shift is expected to place significant pressure on organizations that haven’t yet developed trusted data to manage risk effectively. To mitigate risks, businesses will invest in modern, privacy-enhancing technologies (PETs), such as trusted execution environments (TEEs) and fully homomorphic encryption (FHE).

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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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Security Boulevard

JUNE 1, 2022

cyber insurance carriers in 2021 rose 92% year-over-year, largely in response to a surge in ransomware. Cyber risk insurers are also declining coverage to companies with substandard cybersecurity controls, as well as changing the fine print for sublimits to reduce coverage for types of losses one by one.

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Security Boulevard

JANUARY 18, 2024

Cybersecurity risks increase every year and bludgeon victims who fail to prepare properly. Cybersecurity predictions offer a glimpse at the dangerous oncoming traffic and help leaders develop strategies to navigate their journey safely. Those in cybersecurity who fail to look ahead will be crushed by what they don’t see coming.

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Security Boulevard

JULY 26, 2024

Important steps to lower premiums include preparation, articulating your risk, and demonstrating progressive improvement in security through measurable metrics. Why Do Organizations Need Cyber Liability Insurance? Cyber liability insurance has become an important component of every organization’s cyber strategy.

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