CSO Magazine

DECEMBER 1, 2021

Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.

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Cyber Insurance Insurance CSO Cyber Risk 126

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks.

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Cyber Insurance Insurance Marketing Small Business 121

SecureWorld News

AUGUST 1, 2023

-based Royal United Services Institute (RUSI) for Defence and Security Studies conducted an extensive 12-month research project , which aimed to examine the role of cyber insurance in addressing the threats posed by ransomware. RUSI's research challenges the notion that cyber insurance is a direct catalyst for ransomware.

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Cyber Insurance Insurance Ransomware Marketing 98

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

CSO Magazine

DECEMBER 1, 2021

Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.

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Cyber Insurance Insurance CSO Cyber Risk 130

SecureWorld News

JULY 2, 2024

Global cyber insurance premiums are declining despite an uptick in ransomware attacks, according to a recent report by insurance broker Howden. This trend reflects improved business security practices, evolving insurance industry dynamics, and changing attitudes toward cyber risk management.

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Cyber Insurance Insurance Cyber Risk Marketing 107

Dark Reading

OCTOBER 16, 2023

By using data to drive policy underwriting, cyber-insurance companies can offer coverage without a price tag that drives customers away.

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Cyber Insurance Insurance Marketing 105

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.”.

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Cyber Insurance Insurance Ransomware Marketing 136

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. Can companies live without cyber insurance?

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Cyber Insurance Insurance Risk CISO 114

SecureWorld News

JANUARY 11, 2024

In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents. This rapid ascent begs the question: what's driving the price hike, and are businesses fully prepared for the escalating cost of cyber defense?

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Cyber Insurance Insurance Cyber Risk Data breaches 119

CSO Magazine

DECEMBER 1, 2021

Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.

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Cyber Insurance Insurance CSO Cyber Risk 109

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

Cisco Security

SEPTEMBER 28, 2022

Lloyds of London have recently published a Market Bulletin 1 addressing the wording of cyber insurance policies to exclude losses arising from: “ state backed cyber-attacks that (a) significantly impair the ability of a state to function or (b) that significantly impair the security capabilities of a state. ”.

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Cyber Insurance Insurance CISO Cyber Attacks 129

CSO Magazine

OCTOBER 21, 2021

Could such variations trigger changes in the cyber insurance market and, if so, how will they impact insurance carriers and organizations? New data highlighting fluctuations relating to ransomware attack and payment claims indicates significant shifts in the cyberthreat landscape.

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Cyber Insurance Insurance Ransomware CSO 133

SecureWorld News

APRIL 29, 2022

Cyber insurance is a topic that many industry professionals have an opinion on. No matter what side of the debate you land on, one thing is certain: the cost of cyber insurance has been rising for years and will likely continue to do so. cyber insurance rate changes.

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Cyber Insurance Insurance Cyber Risk Security Defenses 98

Security Boulevard

OCTOBER 1, 2022

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? The post Preparing for Cyber Insurance? 6 Questions to Ask Your IT Team Today appeared first on Datawiza.

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Cyber Insurance Insurance Data breaches Marketing 111

Schneier on Security

SEPTEMBER 10, 2019

From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present. The private governance role of cyber insurance is limited by market dynamics.

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Insurance Cyber Insurance Cybersecurity Risk 238

SecureWorld News

MARCH 20, 2024

In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network. Here, cyber insurance serves as an invaluable safety net by offering essential financial coverage and support services in the event of a ransomware attack occurring.

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Cyber Insurance Insurance Ransomware Risk 110

Tech Republic Security

JULY 4, 2024

Rates have declined by 15% since the market peak in 2022, according to Howden Insurance Brokers.

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Insurance Cyber Insurance Marketing Backups 166

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. “In

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Cyber Insurance Insurance Hacking Ransomware 128

Schneier on Security

FEBRUARY 13, 2019

Zurich Insurance has refused to pay Mondelez International's claim of $100 million in damages from NotPetya. Those turning to cyber insurance to manage their exposure presently face significant uncertainties about its promise. Yet no cyber insurance policies cover this entire spectrum. Mondelez is suing.

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Cyber Insurance Insurance Cyber Risk Risk 241

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

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Cyber Insurance Insurance Risk Technology 100

SC Magazine

MAY 19, 2021

Indeed, even as insurance companies push for security best practices among customers, Netenrich Chief Information Security Officer Brandon Hoffman told SC Media in February “it’s hard to tell whether those actually align with best practices or if they somehow fit into their actuarial science conveniently.”.

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Cyber Insurance Insurance Marketing Ransomware 102

CyberSecurity Insiders

AUGUST 15, 2022

Ever wondered what is covered and what is not in your Cyber Insurance Policy? If not, you better review the guidelines and inform all your C-level employees on strategies to cope with the losses that remain out of the cyber insurance cover. Otherwise, the cyber insurer will not offer any policy coverage.

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Cyber Insurance Insurance Data collection Antivirus 90

Dark Reading

AUGUST 2, 2023

Innovations in continuous controls monitoring may be the only way underwriters can offer cyber-insurance policies that make sense in the market.

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Cyber Insurance Insurance Marketing 89

CyberSecurity Insiders

AUGUST 26, 2022

Lloyd’s London, one of the largest insurance services providers in the world, has disclosed that it is making amendments to its cyber insurance laws that will come into effect from March 2023. All insurance companies exclude the risks inferred from war like situations.

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Cyber Insurance Insurance Cyber Attacks Risk 90

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

SecureWorld News

MAY 26, 2021

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

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Cyber Insurance Insurance Cyber Risk Marketing 69

Schneier on Security

MARCH 26, 2020

Interesting article discussing cyber-warranties, and whether they are an effective way to transfer risk (as envisioned by Ackerlof's "market for lemons") or a marketing trick. The conclusion: Warranties must transfer non-negligible amounts of liability to vendors in order to meaningfully overcome the market for lemons.

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Cyber Insurance Marketing Insurance Risk 208

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

Security Boulevard

JULY 11, 2024

The cyber insurance market has proven tricky for many companies to navigate. The ongoing rise in cyberattacks, coupled with a lack of extensive historical data, makes it difficult to obtain this important insurance at affordable rates. However, an interesting trend emerged in 2024: cyber insurance premiums decreased.

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Cyber Insurance Insurance Marketing 64

Trend Micro

APRIL 14, 2021

With so many vendors in the market, the Marsh initiative has created the Cyber Catalyst to help IT buyers find the right option for them.

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Cyber Insurance Insurance Marketing Ransomware 102

Duo's Security Blog

OCTOBER 7, 2022

As I covered in my other blog — Cyber Liability Insurance Essentials for Small and Medium-Sized Enterprises — there are several approaches firms can take to increase their chances of obtaining a policy. Small business cyber insurance: Is it really needed?

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Small Business Cyber Insurance Insurance Cyber Risk 98

Dark Reading

MARCH 30, 2023

Risk reassessment is shaking up the cybersecurity insurance market, leading some organizations to consider their options, including self-insurance.

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Insurance Cyber Insurance Marketing Risk 101

CSO Magazine

AUGUST 22, 2022

Insurance marketplace Lloyd’s of London is set to introduce cyber insurance exclusions to coverage for “catastrophic” state-backed attacks from 2023. The move is reflective of a maturing and quickly evolving cyber insurance market. Nation-state attacks pose systemic risk to insurers.

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Cyber Insurance Insurance Marketing Risk 72

Dark Reading

JUNE 2, 2022

As insurers and brokers reckon with unexpected losses, they're charging more for policies and setting higher requirements.

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Insurance Cyber Insurance Marketing 84

Duo's Security Blog

FEBRUARY 4, 2025

In its modern iteration, cyber liability insurance mitigates the losses and business costs associated with cyber incidents and resulting downtime. CyberCube, a company specializing in quantifying cyber risk, estimates that the U.S. standalone cyber insurance market could reach $45 billion in premiums by 2034.

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Cyber Insurance Insurance Authentication Risk 60