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.

Cyber Insurance 121

Cyber Insurance Insurance Marketing Small Business 121

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.

Cyber Insurance 130

Cyber Insurance Insurance CSO Cyber Risk 130

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.

Insurance 241

Insurance Cyber Insurance Cybersecurity Risk 241

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?

Cyber Insurance 115

Cyber Insurance Insurance Risk CISO 115

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.

Cyber Insurance 98

Cyber Insurance Insurance Ransomware Marketing 98

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.

Cyber Insurance 107

Cyber Insurance Insurance Cyber Risk Marketing 107

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.

Cyber Insurance 244

Cyber Insurance Insurance Cyber Risk Risk 244

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?

Cyber Insurance 120

Cyber Insurance Insurance Cyber Risk Data breaches 120

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. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

Cyber Insurance 100

Cyber Insurance Insurance Risk Technology 100

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.

Cyber Insurance 109

Cyber Insurance Insurance CSO Cyber Risk 109

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? Learn the 7 keys to better risk assessment. | Get the latest from CSO by signing up for our newsletters. ]. Shifting ransomware priorities impacting claim costs.

Cyber Insurance 133

Cyber Insurance Insurance Ransomware CSO 133

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.”.

Cyber Insurance 136

Cyber Insurance Insurance Ransomware Marketing 136

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).

Cyber Insurance 94

Cyber Insurance Insurance Marketing Cyber Risk 94

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. On top of this, a significant 41% of victims opted to pay the ransom, which is a difficult decision that's fraught with its own respective complexities and risks.

Cyber Insurance 111

Cyber Insurance Insurance Ransomware Risk 111

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.

Cyber Insurance 97

Cyber Insurance Insurance Cyber Risk Security Defenses 97

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.

Cyber Insurance 212

Cyber Insurance Marketing Insurance Risk 212

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

Cyber Insurance 128

Cyber Insurance Insurance Hacking Ransomware 128

SC Magazine

MAY 19, 2021

.” While ultimately driven by the bottom line, he still believed the approach to be “good for businesses as, through the insurance process, they will gain better visibility into their cyber risks and measures they can deploy to keep digital operations secure and compliant to data privacy regulations.”.

Cyber Insurance 102

Cyber Insurance Insurance Marketing Ransomware 102

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.

Cyber Insurance 90

Cyber Insurance Insurance Cyber Attacks Risk 90

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.

Cyber Insurance 68

Cyber Insurance Insurance Cyber Risk Marketing 68

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.

Cyber Insurance 77

Cyber Insurance Insurance Cyber Risk Cyber Attacks 77

Duo's Security Blog

OCTOBER 7, 2022

It will be unsurprising that because of this demand, insurers are particularly careful how they build their policies to minimize their risk from large cyber events. This is especially true if the company looking for cover hasn’t taken adequate enough steps to minimize cyber risks itself.

Small Business 98

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.

Insurance 101

Insurance Cyber Insurance Marketing Risk 101

SecureWorld News

MAY 1, 2024

Department of the Treasury's Federal Insurance Office (FIO) announced a major new initiative this week to improve the insurance industry's capabilities around modeling and underwriting terrorism and catastrophic cyber risks.

Cyber Risk 110

Cyber Risk Risk Insurance Cyber Insurance 110

Security Boulevard

JANUARY 8, 2023

There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage? The post Are Cyber Attacks at Risk of Becoming ‘Uninsurable’? appeared first on Security Boulevard.

Cyber Attacks 98

Cyber Attacks Cyber Insurance Risk Insurance 98

SecureWorld News

JANUARY 31, 2024

Cyber risk is an existential issue for companies of all sizes and in all industries. However, it also exposes companies to additional layers of risk. However, it also exposes companies to additional layers of risk. Real estate portfolios are uniquely exposed to cyber-physical damage risk?

Risk 102

Risk Cyber Insurance Insurance Data breaches 102

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.

Cyber Insurance 72

Cyber Insurance Insurance Marketing Risk 72

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.

Cyber Insurance 64

Cyber Insurance Insurance Authentication Risk 64

Krebs on Security

DECEMBER 12, 2018

For years, potential creditors have judged the relative risk of extending credit to consumers based in part on the applicant’s credit score — the most widely used being the score developed by FICO , previously known as Fair Isaac Corporation. Data accidentally released by FICO about the Cyber Risk Score for ExxonMobil.

Cyber Risk 242

Cyber Risk Energy and Utilities Risk Marketing 242

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.

Insurance 113

Insurance Cyber Insurance Ransomware InfoSec 113

Webroot

JULY 25, 2022

Market landscape for XDR grows more crowded. Most customers alluded to the cybersecurity skills shortage; one of the key market drivers remains a “managed” component tailored to organizations’ response capabilities. Cyber insurance becomes mainstream discussion.

Cyber Insurance 136

Cyber Insurance Insurance Marketing Ransomware 136

SecureWorld News

JUNE 8, 2020

From cyberattacks on unemployment systems and the healthcare industry , to the security risks associated with remote work , SecureWorld has covered how these rapid changes have developed into a "Wild West" threat landscape. But how are these new developments impacting cyber insurance rates? In part, that's true.

Cyber Insurance 54

Cyber Insurance Insurance Marketing Healthcare 54

CSO Magazine

JUNE 14, 2023

Finding the right insurance has become a key part of the security equation, which is no surprise given that the average cost of a data breach in the US has risen to $9.44 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 billion by 2030.

Insurance 121

Insurance Data breaches Cyber Insurance Marketing 121

Security Boulevard

NOVEMBER 24, 2023

First published by HelpNetSecurity  — Matthew Rosenquist Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance.

Insurance 72

Insurance Risk Cyber Insurance Cybersecurity 72

The Last Watchdog

MARCH 1, 2019

This, in short, is the multi-headed hydra enterprises must tame in order to mitigate rising cyber risks. Sutton: SOAR was born out of the gap between what SIEMs were supposed to be and the rising sophistication of cyber threats. This has exponentially expanded the attack surface available to motivated, well-funded threat actors.

Threat Detection 193

Threat Detection Digital transformation Marketing Firewall 193

The Last Watchdog

APRIL 30, 2019

The participation led to the idea behind CyberSaint The company supplies a platform, called CyberStrong, that automatically manages risk and compliance assessments across many types of frameworks. This includes not just the NIST CSF, but also the newly minted NIST Risk Management Framework 2.0, That could be for insurance purposes. “As

Cybersecurity 173

Cybersecurity Insurance Cyber Insurance Risk 173

Duo's Security Blog

JUNE 9, 2022

So, on a recent webinar , I sat down with Darren Thomson, Head of Cyber Intelligence Services at CyberCube , a firm that provides data-driven cyber risk analytics for the insurance industry. So, what is the chief contributor to this hard market from a cybersecurity and threat landscape perspective?

Insurance 97

Insurance Marketing CISO Cyber Insurance 97