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AIG is one of the top cyberinsurance 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.
Cyberinsurance becomes mainstream discussion. As cyberattacks have become more costly and more challenging to track, cyberinsurance has gained prominence across the industry. The cyberinsurance market is expected to reach around $20B by 2025.
The relationship between enterprises and insurers, like the cyberinsurance market itself, is evolving. That’s quite the incentive for insurers to assert themselves in this market. Every sector has suffered breaches and no nation can claim to have been spared.”. A maturing model. billion in premium.
These were companies spanning all sorts of different industries; big tech, general infosec, antivirus, hosting, finance, e-commerce, cyberinsurance - I could go on. Anyone can cobble together a website with some APIs and load in a ton of databreaches, but establishing trust is a whole different story.
Mika Aalto, Co-Founder and CEO at Hoxhunt : "Today, most security leaders admit that databreaches are a question of 'when,' not 'if,' because most have responded to an incident within the past few years. What's important now is for executive leadership to have that same sense of urgency as infosec leaders.
GDPR, the EU’s flagship data privacy and “right to be forgotten” regulation, has made the stakes of a databreach higher than ever. M]uch of InfoSec management falls back on employee training and avoiding employee error – particularly with respect to phishing , spear phishing, and encryption lapses.”. In the U.S.,
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