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.

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Cyber Insurance Insurance Ransomware Hacking 144

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.

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Cyber Insurance Insurance Marketing Small Business 119

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. Let's break it down to the pros and cons.

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Graham Cluley

MARCH 28, 2021

Insurance firm CNA Hardy says that it has suffered a “sophisticated cybersecurity attack” that has impacted its operations, including its email system.

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Cyber Insurance Insurance Ransomware Cybersecurity 137

Security Boulevard

SEPTEMBER 3, 2023

Cyber insurance offers financial protection and support in the event of a cyber attack, data breach, or other cyber-related incidents. Ironically, the security that insurance brings to policyholders stands in contrast to the shifting, dynamic state of the cyber insurance market in general.

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Cyber Insurance Insurance Marketing Data breaches 117

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. Growing losses from ransomware attacks have…emphasized that the current reality is not sustainable for insurers either.

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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. Insurers Assessing Risks.

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Cyber Insurance Insurance Cyber Attacks Ransomware 128

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?

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Cyber Insurance Insurance Data breaches Phishing 106

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?

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Cyber Insurance Insurance Data breaches Marketing 111

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.

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Cyber Insurance Insurance Data breaches Cyber Attacks 97

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. (Antoine Taveneaux, CC BY-SA 3.0 link] , via Wikimedia Commons). Of course, the attackers aren’t necessarily limited to a ransomware strategy.

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Cyber Insurance Insurance Hacking Ransomware 128

CSO Magazine

JUNE 14, 2023

With an ever-increasing number of cybersecurity threats and attacks, companies are becoming motivated to protect their businesses and customer data both technically and financially. 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

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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?

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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?

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Cyber Insurance Insurance Social Engineering Cybersecurity 97

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

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.

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Cyber Insurance Insurance Marketing Ransomware 84

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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Cyber Insurance Insurance Cyber Risk Cyber Attacks 77

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?

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Insurance Cyber Insurance Data breaches Backups 105

Duo's Security Blog

OCTOBER 7, 2022

In this blog, we explain why it makes sense for these firms to work with managed service providers (MSPs) to help bolster their security posture and increase their chances of getting cyber liability insurance cover as insurers continue to raise the bar. Small business cyber insurance: Is it really needed?

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Small Business Cyber Insurance Insurance Cyber Risk 98

Joseph Steinberg

AUGUST 5, 2021

Understanding the difference between the two is also essential when seeking to obtain – and when acquiring – cyber-liability insurance. First-party cyber-liability risks refer to risks that directly endanger an organization. First-Party Risks And Coverage.

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Insurance Risk Data breaches Artificial Intelligence 141

Security Affairs

OCTOBER 20, 2024

CISA adds Veeam Backup and Replication flaw to its Known Exploited Vulnerabilities catalog North Korea-linked APT37 exploited IE zero-day in a recent attack Omni Family Health data breach impacts 468,344 individuals Iran-linked actors target critical infrastructure organizations macOS HM Surf flaw in TCC allows bypass Safari privacy settings Two Sudanese (..)

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Data breaches Cybercrime Cyber Insurance Marketing 117

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.

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Cybersecurity Insurance Cyber Insurance Risk 98

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. [.]

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Cyber Insurance Insurance Data breaches Software 76

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.

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Insurance Cyber Insurance Ransomware InfoSec 113

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?

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Data breaches Cyber Insurance Insurance Technology 138

Graham Cluley

MAY 20, 2021

Yes, you read that correctly. FORTY MILLION DOLLARS.

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Cyber Insurance Insurance Ransomware Data breaches 143

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.

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Cyber Insurance Insurance Data breaches Risk 69

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.

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Cyber Insurance Insurance Data breaches Ransomware 64

SC Magazine

FEBRUARY 8, 2021

Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.

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Insurance Cybersecurity Cyber Insurance Government 126

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.

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Data breaches Cyber Insurance Insurance Ransomware 105

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.

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Cybersecurity Cyber Insurance IoT Insurance 59

Krebs on Security

JULY 24, 2018

Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. Everest National Insurance Company did not respond to requests for comment.

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Banking Insurance Computers and Electronics Cyber Insurance 197

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.

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Cyber Insurance Insurance Passwords Cyber Attacks 64

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 101

Cyber Insurance Insurance Cybersecurity Data breaches 101

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.

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Cyber Insurance Insurance Cyber Risk Data breaches 52

Krebs on Security

AUGUST 29, 2019

-based PerCSoft is a cloud management provider for Digital Dental Record (DDR), which operates an online data backup service called DDS Safe that archives medical records, charts, insurance documents and other personal information for various dental offices across the United States. ” Read the full ProPublica piece here. .

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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.

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