The Last Watchdog

JULY 27, 2023

New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyber insurance program with new MGA, Converge, acting as program administrator. The program will be broken down into two separate distribution structures, each with a distinct revenue focus and cyber security data access formation.

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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.

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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. To read this article in full, please click here

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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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We Live Security

JUNE 26, 2024

Why organizations of every size and industry should explore their cyber insurance options as a crucial component of their risk mitigation strategies

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IT Security Guru

FEBRUARY 28, 2023

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

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Security Boulevard

JULY 14, 2022

A survey of 400 global insurers finds the cyber insurance business “isn’t working for insurers, brokers or their customers.” The post Survey Shows Cyber Insurance Marketplace Badly Needs Risk Quantification appeared first on Security Boulevard.

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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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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.

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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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IT Security Guru

JUNE 28, 2022

Enter cyber insurance. We insure almost everything – our homes, our cars, even our lives. At first glance, it seems odd that most businesses don’t insure against something as potentially devastating as cybercrime. As a result, it’s difficult to gauge how at risk an organisation is. It didn’t take off.

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The Last Watchdog

JANUARY 20, 2020

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

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We Live Security

OCTOBER 8, 2024

Could human risk in cybersecurity be managed with a cyber-rating, much like credit scores help assess people’s financial responsibility?

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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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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?

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Security Boulevard

JULY 26, 2024

Important steps to lower premiums include preparation, articulating your risk, and demonstrating progressive improvement in security through measurable metrics. Why Do Organizations Need Cyber Liability Insurance? Cyber liability insurance has become an important component of every organization’s cyber strategy.

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Security Boulevard

JANUARY 25, 2024

The growing number and sophistication of cyberattacks and the financial impact such incidents can have a company’s financial picture are driving more organizations to take out cybersecurity insurance, according to a survey from endpoint management firm Recast Software.

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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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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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Security Boulevard

MARCH 15, 2022

With the cyber threat landscape showing no sign of becoming less risky, many businesses want to transfer some of their risk to cyber insurance providers. In fact, by 2020, 78% of corporate risk managers bought some type of cyber insurance coverage for their company. The post What is Cyber Insurance?

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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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Digital Guardian

FEBRUARY 10, 2021

With the world in flux and cybercrime an increasingly pervasive threat, cyber insurance has seen rapid adoption. How can a cyber insurance plan be effective? NYDFS has released a new framework to help.

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Dark Reading

AUGUST 29, 2022

Businesses need to re-evaluate their cyber-insurance policies as firms like Lloyd's of London continue to add restrictions, including excluding losses related to state-backed cyberattackers.

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Trend Micro

JANUARY 8, 2024

As the threat landscape evolves and the cost of data breaches increase, so will cyber insurance requirements from carriers. Cyber Risk Specialist Vince Kearns shares his 4 predictions for 2024.

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CSO Magazine

FEBRUARY 20, 2023

With cyberattacks rising at an alarming rate around the world, cyber insurance has become an increasingly popular layer of protection for businesses across all sectors.

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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.

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Security Boulevard

NOVEMBER 12, 2021

The post Are Cyber Insurers Cybersecurity’s New Enforcers? That means cyberattacks targeting enterprises and individuals are happening at a rate of about one attack every few seconds. The average ransom payment made by a business to. appeared first on Security Boulevard.

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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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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.

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CyberSecurity Insiders

MARCH 18, 2021

After the SolarWinds cyber attack on Govt infrastructure, the government of United States seems to have taken Cybersecurity as a top priority to rectify any flaws that could make way to any future cyber attacks in the future. Maintain a senior management and board approved cyber insurance risk strategy. ·

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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.

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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.

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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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Security Boulevard

FEBRUARY 26, 2024

Why insurance matters when considering SEC cyber rule compliance We are still riding high on our recent win at the Cyber Insurance Awards Europe 2024. Axio was recently awarded Cyber Read More The post Making Companies Whole: The Impact of Cyber Insurance on Materiality appeared first on Axio.

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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. Insurers Assessing Risks.

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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.

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Lohrman on Security

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?

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