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London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. Yet, boardroom focus on cyberrisk appears to be diminishing. trillion by 2025, a 300% increase since 2015 1.
That’s where cyberinsurance 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 cyberinsurance to help manage the associated financial risks.
However, we were most interested in seeing how Accenture articulated a particular business risk: the risk from a cyberattack. On page 34 of the report, Accenture dives into the risk that cyber poses to the business. L egal, reputational and financial risks? That's where the fine print comes in.
CINCINNATI–( BUSINESS WIRE )–Great American Insurance Group recently launched EagleEye? According to Betty Shepherd, Divisional Senior Vice President, Great American CyberRisk, EagleEye is a valuable loss prevention tool for insureds. We jumped at the opportunity to build a compelling solution for insureds.
In the 2025 AI Security Report, ThreatLabz delves into evolving risks of AI, including:Shadow AI and data leakage: Key questions enterprises should consider to control unauthorized use of AI tools that may expose sensitive data.AI-generated
Related: Adopting an assume-breach mindset With that in mind, Last Watchdog invited the cybersecurity experts we’ve worked with this past year for their perspectives on two questions that all company leaders should have top of mind: •What should be my biggest takeaway from 2023, with respect to mitigating cyberrisks at my organization?
Security experts have warned for years about the possibility of socialengineering attacks with deepfakes, and the technology has matured enough for 2023 to see hackers successfully leverage it. Cyberinsurance trends in 2023. Fostering workforce security education at all levels reduces risk.
Case in Point : In 2019, First American Title Insurance Company experienced a significant data exposure incident, revealing sensitive customer documents due to a vulnerability in their document-sharing application. It emphasizes AIs dual role as a tool for both advancing cybersecurity defenses and amplifying cyberrisks.
Tuma is teaching a PLUS training course on May 17, the day prior to the SecureWorld Houston conference, on the topic of " Real-World CyberRisk Management and Resilience Planning." He will also present at the May 18 event on "Cybersecurity Really Is a Team Sport." Register here.
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyberinsurance. This incident shows that while security tools are essential, phishing emails can still slip through.
Examples of threatening traffic that IDPS solutions can combat include network intrusions, DDoS attacks, malware, and sociallyengineered attacks. In worst-case scenarios, these firms should cover your business if you’re impacted by a data breach that leaks sensitive information and leads to fines and legal fees.
Socialengineering attacks , including phishing, spam, and viruses introduced via clickable links within e-mail affected 80% of the banking institutions in 2016. What are the benefits of cyber security awareness trainings?
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. Fines for non-compliance could offset insurance payouts.
Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyberinsurance. This incident shows that while security tools are essential, phishing emails can still slip through.
Kip Boyle, vCISO, CyberRisk Opportunities LLC: The Challenge of Cultivating Buy-in from Leadership and Employees "Cybersecurity professionals will continue to face a critical challenge: cultivating genuine buy-in from both senior leaders and employees. "The What the Practitioners Predict Jake Bernstein, Esq.,
As demand for cyberriskinsurance increases, two recent developments could have policyholders scrambling to check their cover. In the United States, a judge dismissed a claim against an insurance company that refused to pay extra for losses due to business email compromise. And the cyberinsurance market keeps growing.
In this blog, I’m exploring these changes, grouped under key categories that I’ve used in previous years, to help business leaders and cyberrisk owners better prepare for the evolving landscape. These groups are also shifting toward more human-centric exploits , like socialengineering and insider assistance.
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