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Key findings: the cyber threat landscape in 2025 1. Ransomware and state-sponsored attacks continue to escalate Canada's critical sectorsincluding healthcare, energy, education, and retailhave become prime targets for cybercriminals. Leverage cyberinsurance to mitigate financial risks associated with supply chain attacks.
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. Soaring Cyber Crime Costs: Cyber crime costs are expected to hit $10.5
Most probably more attacks on the education and healthcare sectors will occur plus targeted campaigns against industry leaders – especially those that hold critical information: sensitive data, top expertise, and latest technologies. Yet, in addition to cyberinsurance, companies will need a designated DR or RR (Rolling Recovery) plan.
However, this stance indicates a lack of understanding of the effects of all the parties involved, such as cyberinsurance underwriters, incident response firms, government regulations, and ransomware attribution. For many organizations, paying the ransom can be less damaging than risking any additional impacts.
Furthermore, when an organisation has a cyberinsurance policy, it might be able to claim the ransom back, which may encourage payment. That is an incredibly difficult situation to be put in, and one that is contributing to the problem. Further factors are likely to have played a part.
Ransomware, a definition Ransomware is a set of malware technologies, hacking techniques, and socialengineering tactics that cybercriminals use to cause harm, breach data, and render data unusable. Ransomware attackers get into a network in many ways: Socialengineering. Should I get a ransomware cyberinsurance policy?
Provide cybersecurity awareness training to all personnel, enabling them to identify socialengineering attacks and risky behavior. Identify cyberinsurance policies and ensure they align to business needs regarding ransomware attacks and data leaks. Stress reporting suspicious activity. Seek adequate coverage.
The primary target and focus for nation-states will continue to be their adversaries Critical Infrastructure sectors, such as healthcare, government, communications, transportation, defense industrial base, media, utilities, finance, and cargo logistics. In 2024: 1.
Chris Gray of Deep Watch talks about the view from the inside of a virtual SOC, the ability to see threats against a large number of SMB organizations, and the changes to cyberinsurance we’re seeing as a result. cyberinsurance as a whole was changing heavily. And why is that? It started off pretty easy to get.
According to Verizon’s most recent Data Breach Incident Report , instances of advanced ransomware have doubled in the past year, alongside major upticks in phishing attacks and socialengineering. Don’t worry though, there's already an insurance policy for that. What is Cyber Liability Insurance?
Sectors like energy, healthcare, transportation, utilities, and financial systems are increasingly at risk because they are integral to national security and daily life. These groups are also shifting toward more human-centric exploits , like socialengineering and insider assistance. But it doesnt stop there.
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