eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 As the number and severity of data breaches continues to rise, organizations are recognizing that those costs are not theoretical. Cyber Insurance is Booming.

Cyber Insurance 121

Cyber Insurance Insurance Marketing Small Business 121

Joseph Steinberg

JULY 8, 2021

Ironically, while many larger enterprises purchase insurance to protect themselves against catastrophic levels of hacker-inflicted damages, smaller businesses – whose cyber-risks are far greater than those of their larger counterparts – rarely have adequate (or even any) coverage.

Insurance 364

Insurance Cyber Insurance Cybersecurity Small Business 364

Malwarebytes

JULY 10, 2022

So, your business has just suffered a data breach and it’s time to dig deep in your pockets to pay all the resulting expenses. Without cyber insurance , you can expect to pay a dizzying amount of cash. Here are four ways your business can save money on its insurance. How is cyber insurance priced?

Cyber Insurance 105

Cyber Insurance Insurance Data breaches Phishing 105

Graham Cluley

MARCH 22, 2021

A member of the REvil ransomware gang claims that the group specifically targets firms who have taken our cyber insurance. And what's more, it will hack insurance firms to identify them.

Cyber Insurance 144

Cyber Insurance Insurance Ransomware Hacking 144

Graham Cluley

MARCH 28, 2021

According to a statement posted on the firm’s website, CNA determined it had fallen foul of hackers on March 21: “Out of an abundance of caution, we have disconnected our systems from our … Continue reading "Cyber insurance giant CNA hit by ransomware attack".

Cyber Insurance 137

Cyber Insurance Insurance Ransomware Cybersecurity 137

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.”.

Cyber Insurance 136

Cyber Insurance Insurance Ransomware Marketing 136

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.

Cyber Insurance 129

Cyber Insurance Insurance Cyber Attacks Ransomware 129

Security Boulevard

OCTOBER 1, 2022

The list of companies that have experienced data breaches in 2022 continues to grow, including Meta, Samsung, Twilio, Twitter, Uber and more. No wonder the cyber insurance market is expected to grow at a compound average rate of almost 25 percent […]. The post Preparing for Cyber Insurance?

Cyber Insurance 111

Cyber Insurance Insurance Data breaches Marketing 111

Security Boulevard

MARCH 15, 2023

With ransomware attacks, social engineering, and data breaches at an all-time high, terms like “cybersecurity” and “cyber insurance” are being thrown around in conversation more than ever before. But what, in practice, do they mean – and how are the two intertwined?

Cyber Insurance 97

Cyber Insurance Insurance Social Engineering Cybersecurity 97

The Hacker News

NOVEMBER 9, 2022

The rise in the costs of data breaches, ransomware, and other cyber attacks leads to rising cyber insurance premiums and more limited cyber insurance coverage. This cyber insurance situation increases risks for organizations struggling to find coverage or facing steep increases.

Cyber Insurance 90

Cyber Insurance Insurance Data breaches Cyber Attacks 90

CyberSecurity Insiders

MAY 1, 2023

This legal turn is supported by a study conducted by BakerHostetler, which confirms that lawsuits against companies that suffer data breaches are becoming more common and may increase by the end of this year. Now the big question: Is there any benefit in filing a lawsuit against the technology service provider for a data breach?

Data breaches 138

Data breaches Cyber Insurance Insurance Technology 138

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.

Cyber Insurance 128

Cyber Insurance Insurance Hacking Ransomware 128

CSO Magazine

JUNE 14, 2023

Finding the right insurance has become a key part of the security equation, which is no surprise given that the average cost of a data breach in the US has risen to $9.44 The global cyber insurance market was valued at $13.33 million — more than twice the global average of $4.35 billion in 2023 to $84.62

Insurance 121

Insurance Data breaches Cyber Insurance Marketing 121

Security Boulevard

FEBRUARY 20, 2025

Cyber insurance used to be an optional safety net. With ransomware, data breaches, and cyberattacks on the rise, companies need protection against financial losses. The post How CTEM Impacts Cyber Security Insurance Premiums? The post How CTEM Impacts Cyber Security Insurance Premiums?

Insurance 59

Insurance Cyber Insurance Data breaches Ransomware 59

Bleeping Computer

MARCH 19, 2024

With the growing number of data breaches and cyberattacks, insurance premiums are increasing. Learn more from Specops Software about how securing an Activity Directory could lead to lower cyber insurance premiums. [.]

Cyber Insurance 76

Cyber Insurance Insurance Data breaches Software 76

CyberSecurity Insiders

NOVEMBER 15, 2022

Cyber Insurance premiums are becoming dearer and the reason for such a rise is claimed to be sophistication in attacks that are making mitigation and recovery expensive. Most companies are showing laxity in following basic cyber security hygiene, leading to a surge in cyber-attacks and data breaches.

Cyber Insurance 84

Cyber Insurance Insurance Marketing Ransomware 84

Security Boulevard

AUGUST 2, 2021

Recently, IBM came out with its Cost of a Data Breach Report 2021. This publication synthesizes the Ponemon Institute’s research of 537 breaches that affected 17 different industries and that occurred across 17 countries and regions.

Data breaches 105

Data breaches Cyber Insurance Insurance Ransomware 105

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.

Cyber Insurance 94

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.

Cyber Insurance 77

Cyber Insurance Insurance Cyber Risk Cyber Attacks 77

Security Boulevard

APRIL 1, 2024

Even on April Fool’s Day, it’s no joke that the astronomical cost of cyber insurance has surged in recent years, reflecting the escalating frequency and severity of cyberattacks.

Cyber Insurance 64

Cyber Insurance Insurance Data breaches Ransomware 64

Centraleyes

DECEMBER 16, 2024

Verizons Data Breach Investigations Report showed that 74% of security breaches involve a human element, with system administrators and developers accounting for most of these errors. Expect to see more investments in privacy-enhancing technologies (PETs) such as encryption, anonymization, and data masking.

Cybersecurity 98

Cybersecurity Insurance Cyber Insurance Risk 98

Adam Levin

AUGUST 26, 2019

The data breach of Capital One was big news, but it was also a familiar story: a major financial company with the budget and means to secure its data didn’t bother to do so, and the personal information of over a hundred million of its customers and applicants was exposed. Cloudy with a Chance of Client Error.

Data breaches 142

Data breaches Cyber Insurance Hacking Insurance 142

Security Boulevard

NOVEMBER 23, 2022

As organizations around the globe grapple with the consequences of data breaches, MSSPs have a unique opportunity to help their clients build and manage mature security programs and employ other necessary protections to keep their businesses safe.

Cyber Insurance 69

Cyber Insurance Insurance Data breaches Risk 69

Duo's Security Blog

OCTOBER 7, 2022

Small business cyber insurance: Is it really needed? However, according to Security Magazine , 43% of all cyberattacks target small businesses, and 60% of all small business victims of a data breach permanently close their doors within six months of the attack.

Small Business 98

Small Business Cyber Insurance Insurance Cyber Risk 98

Graham Cluley

MAY 20, 2021

Yes, you read that correctly. FORTY MILLION DOLLARS.

Cyber Insurance 143

Cyber Insurance Insurance Ransomware Data breaches 143

The Hacker News

APRIL 10, 2023

With the increasing use of technology in our daily lives, cybercrime is on the rise, as evidenced by the fact that cyberattacks caused 92% of all data breaches in the first quarter of 2022. As technology advances, cyberattacks are becoming more sophisticated.

Cyber Insurance 99

Cyber Insurance Insurance Cybersecurity Data breaches 99

Hacker's King

DECEMBER 24, 2024

Expansion of Cyber Insurance As cyberattacks grow in frequency and scale, the demand for cyber insurance will surge. In 2025, insurers will refine their policies to cover new threats such as ransomware and supply chain attacks, providing businesses with financial safeguards against cyber losses.

Cybersecurity 59

Cybersecurity Cyber Insurance IoT Insurance 59

Duo's Security Blog

MAY 23, 2022

Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%. Do you need it?

Insurance 105

Insurance Cyber Insurance Data breaches Backups 105

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.

Cyber Insurance 52

Cyber Insurance Insurance Cyber Risk Data breaches 52

SC Magazine

JULY 13, 2021

million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 The Fortified Health report is meant to support health care covered entities in light of the ongoing threats and the rise in data breach numbers. More than 22.8

Data breaches 113

Data breaches Insurance Healthcare Education 113

Cytelligence

OCTOBER 18, 2023

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. However, there is a powerful and cost-effective tool that businesses can utilize to reduce their cyber insurance costs: strong passwords.

Cyber Insurance 64

Cyber Insurance Insurance Passwords Cyber Attacks 64

The Hacker News

JULY 6, 2023

As technology advances and organizations become more reliant on data, the risks associated with data breaches and cyber-attacks also increase. The introduction of data privacy laws, such as the GDPR, has made it mandatory for organizations to disclose breaches of personal data to those affected.

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Cyber Insurance Insurance Data privacy Data breaches 94

Security Boulevard

JUNE 29, 2022

That’s no surprise really, especially when considering that data breaches exposed some 36 billion records in the first half of 2020 alone. The post Cyber Insurance Requirements: How to Maintain Your Policy appeared first on Security Boulevard.

Cyber Insurance 52

Cyber Insurance Insurance Data breaches Risk 52

SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

Insurance 113

Insurance Cyber Insurance Ransomware InfoSec 113

SecureWorld News

JANUARY 31, 2024

Frequently, the liability associated with slip-and-falls is pushed up to the owner—and within that same upstream push, so goes privacy and data breach liability. All stakeholders, including insurers, need to understand whose cyber insurance policy responds to an incident.

Risk 103

Risk Cyber Insurance Insurance Data breaches 103

Webroot

JULY 25, 2022

Cyber insurance becomes mainstream discussion. As cyberattacks have become more costly and more challenging to track, cyber insurance has gained prominence across the industry. The cyber insurance market is expected to reach around $20B by 2025.

Cyber Insurance 136

Cyber Insurance Insurance Marketing Ransomware 136

CSO Magazine

JANUARY 24, 2023

CSI), followed by data breaches (23%), ransomware (20%) and a breach at a third party (15%). It was cited by 29% of respondents in a survey by Computer Systems Inc.

Cyber threats 111

Cyber threats Identity Theft Cyber Insurance Insurance 111