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Expansion of CyberInsurance As cyberattacks grow in frequency and scale, the demand for cyberinsurance 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.
From GDPR updates to sector-specific regulations like HIPAA and PCI DSS, companies will face new mandates to protect sensitive data. Future cybersecurity trends point to even stricter compliance regimes, including regulations that focus on AI ethics and dataprivacy.
Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 CyberInsurance: US cyberinsurance 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.
Kapczynski Erin: Could you share your thoughts on the role of artificial intelligence, machine learning and the growth of IoT devices in both cyber defense and cyberattacks? Erin: Do you think cyberinsurance should play a bigger role in companies’ cybersecurity strategies? Byron: It’s an important risk management tool.
We are subject to numerous laws and regulations designed to protect this information, such as the European Union’s General Data Protection Regulation (“GDPR”), the United Kingdom’s GDPR, the California Consumer Privacy Act (and its successor the California Privacy Rights Act that will go into effect on January 1, 2023), as well as various other U.S.
In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyberinsurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat.
From GDPR updates to sector-specific regulations like HIPAA and PCI DSS, companies will face new mandates to protect sensitive data. Future cybersecurity trends point to even stricter compliance regimes, including regulations that focus on AI ethics and dataprivacy.
Ethyca is compliance -focused as regulatory enforcement becomes an essential part of dataprivacy. With Ethyca, clients get a bundle of tools for privacy by design in the development process. Cowbell Cyber. Startup Est Headquarters Staff Funding Funding Type Ethyca 2018 New York, NY 44 $27.5 Strata Identity. JupiterOne.
The proliferation of IoT devices and sensors will accelerate, allowing organisations to collect and leverage data for improved operational efficiency and real-time monitoring. IOT attacks aren’t showing any signs of slowing. Compromising connected devices can lead to significant privacy breaches and disruptions.
Cybersecurity is on the brink of significant transformation as we approach 2025, grappling with escalating complexities driven by advancements in technology, increasing geopolitical tensions, and the rapid adoption of AI and IoT. While federal advances may slow, state-level momentum continues.
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