CSO Magazine

OCTOBER 21, 2021

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

Cyber Insurance 133

Cyber Insurance Insurance Ransomware CSO 133

Security Boulevard

FEBRUARY 11, 2021

In 2021, rethinking your cyber insurance strategy should be a top priority for CISOs and executive leadership. The elevated risk landscape is driving growing demand for cyber insurance: Nearly four out of five organizations. The post Is it Time to Update Your Cyber Insurance Strategy?

Cyber Insurance 140

Cyber Insurance Insurance CISO Risk 140

SecureWorld News

AUGUST 1, 2023

It is no secret that ransomware attacks have been on the rise in recent years and have caused a significant amount of pain to organizations worldwide. One aspect of these cyberattacks that has been hotly debated is the role that cybersecurity insurance plays in these incidents. However, RUSI's research presents a different perspective.

Cyber Insurance 98

Cyber Insurance Insurance Ransomware Marketing 98

SecureWorld News

MARCH 20, 2024

Ransomware attacks have become a significant threat to organizations of all kinds worldwide, with attackers encrypting data and demanding payment for its release. 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.

Cyber Insurance 113

Cyber Insurance Insurance Ransomware Risk 113

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

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 114

Cyber Insurance Insurance Cyber Risk Marketing 114

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.

Cyber Insurance 136

Cyber Insurance Insurance Ransomware Marketing 136

CyberSecurity Insiders

FEBRUARY 17, 2022

For all those companies who are planning to renew their cyber insurance policy or are in a procedure to take one, here’s a piece of information that might interest you. Most of the Cyber Insurance companies have excluded ‘Cyber War’ consequences from their policies. that’s insane….isn’t isn’t it? .

Cyber Insurance 120

Cyber Insurance Insurance Cyber Attacks Ransomware 120

CSO Magazine

APRIL 27, 2021

Organizations will face significant challenges in purchasing, renewing, and benefitting from cyber insurance policies this year as various factors drive the sector towards a stricter, more specialized position, global specialists in law, risk, and cybersecurity predict.

Cyber Insurance 142

Cyber Insurance Insurance Ransomware Risk 142

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 122

Cyber Insurance Insurance Cyber Risk Data breaches 122

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. In addition, the U.S.

Cyber Insurance 129

Cyber Insurance Insurance Cyber Attacks Ransomware 129

Dark Reading

AUGUST 11, 2022

Even among businesses with cyber insurance, they lack coverage for basic costs of many cyberattacks, according to a BlackBerry survey.

Cyber Insurance 120

Cyber Insurance Insurance Ransomware 120

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 117

Cyber Insurance Insurance Risk CISO 117

Security Boulevard

OCTOBER 13, 2021

Will NYDFS’s Cyber Insurance Framework Set a Precedent for the Cyber Insurance Industry? As ransomware attacks reach unprecedented numbers and the number of record exposures continues to skyrocket, an increasing number of organizations are at risk of attack—and the cyber insurance industry is taking note.

Cyber Insurance 115

Cyber Insurance Insurance Risk Ransomware 115

Tech Republic Security

SEPTEMBER 10, 2020

Demands are sharply higher, and the complexity and costs of addressing an attack are increasing, according to cyber insurance provider Coalition.

Cyber Insurance 216

Cyber Insurance Insurance Ransomware 216

Joseph Steinberg

JULY 8, 2021

Not only are they not protected against their own losses, but many have zero liability protection in the event that they somehow become a hacker’s catalyst for inflicting cyber-damage on others. iBynd also has a first-of-its-kind Personal Cyber Insurance offering that it delivers directly to consumers through CyberInsurancePlus.com.

Insurance 364

Insurance Cyber Insurance Cybersecurity Small Business 364

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. Of course, the attackers aren’t necessarily limited to a ransomware strategy. They could also phish certain policyholders.

Cyber Insurance 128

Cyber Insurance Insurance Hacking Ransomware 128

Krebs on Security

AUGUST 29, 2019

PerCSoft , a Wisconsin-based company that manages a remote data backup service relied upon by hundreds of dental offices across the country, is struggling to restore access to client systems after falling victim to a ransomware attack. The ransomware attack hit PerCSoft on the morning of Monday, Aug. West Allis, Wis.-based

Backups 258

Backups Ransomware Insurance Encryption 258

CSO Magazine

DECEMBER 6, 2022

As the frequency and severity of ransomware, phishing, and denial of service attacks has increased, so has demand for cyber insurance. billion in direct written premiums were recorded in 2021, a 61% increase over the prior year, according to an October 2022 memorandum from the National Association of Insurance Commissioners.

Cyber Insurance 121

Cyber Insurance Insurance Phishing Ransomware 121

Security Boulevard

OCTOBER 21, 2024

It is good to see US government leaders realize that ransomware is a growing existential threat to our country, at the hands of our adversaries. A top US national cybersecurity advisor stated in a recent op-ed , “This is a troubling practice that must end.” The government is looking at ways to disrupt ransomware attacks.

Ransomware 75

Ransomware Insurance Cyber Insurance Government 75

Dark Reading

MAY 26, 2021

From limiting claims payments to tying payments to policyholders' actions, the cyber insurance industry is in "a very dynamic place right now," says Corvus Insurance CEO Phil Edmundson.

Cyber Insurance 103

Cyber Insurance Insurance Risk Ransomware 103

Malwarebytes

JULY 10, 2022

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.

Cyber Insurance 100

Cyber Insurance Insurance Data breaches Phishing 100

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.

Cyber Insurance 94

Cyber Insurance Insurance Data breaches Cyber Attacks 94

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

MAY 11, 2022

It’s that time that I fill out the annual cyber insurance policy application. Each year it gives me an insight into what insurance vendors are using to rate the risks and threats to our business and what they are stressing I should have as best practices. Here are the questions that stood out.

Cyber Insurance 98

Cyber Insurance Insurance Ransomware Authentication 98

CSO Magazine

APRIL 20, 2023

Cyber insurance provider At-Bay has announced the launch of a new InsurSec solution to help small-to-mid sized businesses (SMBs) improve their security and risk management postures through their insurance policy. The emergence of InsurSec technology reflects a cyber insurance landscape that has seen significant change recently.

Cyber Insurance 105

Cyber Insurance Insurance Risk CISO 105

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. The post The Comprehensive Value of Investing in Both Cybersecurity and Cyber Insurance appeared first on Security Boulevard.

Cyber Insurance 97

Cyber Insurance Insurance Social Engineering Cybersecurity 97

CyberSecurity Insiders

APRIL 1, 2021

CyberCube, a cyber analytics firm, claims that the rise in cyber-attacks on Microsoft servers could also increase cyber insurance claims filed by many companies. . The post Cyber attacks on Microsoft Exchange Email Servers could surge up cyber insurance claims appeared first on Cybersecurity Insiders.

Cyber Insurance 124

Cyber Insurance Insurance Cyber Attacks VPN 124

Zero Day

JANUARY 27, 2021

The group has been criticized for “funding” organized crime.

Cyber Insurance 143

Cyber Insurance Insurance Ransomware 143

We Live Security

AUGUST 21, 2024

Should the payment of a ransomware demand be illegal? Should it be regulated in some way? These questions are some examples of the legal minefield that cybersecurity teams must deal with

Cyber Insurance 135

Cyber Insurance Insurance Ransomware Cybersecurity 135

The Hacker News

FEBRUARY 7, 2023

With cyberattacks around the world escalating rapidly, insurance companies are ramping up the requirements to qualify for a cyber insurance policy. Ransomware attacks were up 80% last year, prompting underwriters to put in place a number of new provisions designed to prevent ransomware and stem the record number of claims.

Cyber Insurance 96

Cyber Insurance Insurance Ransomware Authentication 96

The State of Security

JUNE 13, 2022

Sophos Labs recently released its annual global study, State of Ransomware 2022, which covers real-world ransomware experiences in 2021, their financial and operational impact on organizations, as well as the role of cyber insurance in cyber defense.

Ransomware 134

Ransomware Cyber Insurance Insurance Malware 134

SC Magazine

MAY 19, 2021

The development of cybersecurity insurance has played an important role in determining how companies prepare for and respond to ransomware attacks and the resulting fallout. That in itself has evolved, as insurers and insured learn just how expensive that fallout can be. The ransomware reality check for insurers.

Cyber Insurance 102

Cyber Insurance Insurance Marketing Ransomware 102

Graham Cluley

FEBRUARY 22, 2023

A ransomware outfit is advising its victims to secretly tell them how much insurance they have, so their extortion demands will be met. Read more in my article on the Tripwire State of Security blog.

Insurance 118

Insurance Cyber Insurance Ransomware Malware 118

Malwarebytes

APRIL 27, 2022

You’ve likely only seen cybercrime insurance primarily mentioned in relation to attacks on businesses. Most commonly, it’s cited with regard to ransomware attacks in the workplace, or associated data loss. Some folks think the mere presence of insurance simply encourages more attacks , and is hurting more than it’s helping.

Cyber Insurance 89

Cyber Insurance Insurance Backups Cryptocurrency 89

Graham Cluley

MAY 20, 2021

Yes, you read that correctly. FORTY MILLION DOLLARS.

Cyber Insurance 143

Cyber Insurance Insurance Ransomware Data breaches 143

Malwarebytes

FEBRUARY 21, 2023

Ransomware authors are wading into the cybersecurity insurance debate in a somewhat peculiar way. Specifically: urging victims to disclose details of their insurance contract , in order to tailor a ransom which will be beneficial to the company under attack. How to avoid ransomware Block common forms of entry.

Cyber Insurance 94

Cyber Insurance Insurance Ransomware Encryption 94