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 56

Joseph Steinberg

JULY 8, 2021

Ironically, while many larger enterprises purchase insurance to protect themselves against catastrophic levels of hacker-inflicted damages, smaller businesses – whose cyber-risks are far greater than those of their larger counterparts – rarely have adequate (or even any) coverage.

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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.

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Insurance Risk Cyber Insurance Cybersecurity 72

SC Magazine

MAY 24, 2021

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

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CyberSecurity Insiders

DECEMBER 11, 2021

(NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it is partnering with leading cyber insurance companies to help businesses manage their risks online. As a result, some insurance companies have had to raise premiums to cover their costs.

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SecureWorld News

SEPTEMBER 10, 2020

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. 4 key takeaways from cyber insurance industry report. Cyber insurance works.

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Cyber Insurance Insurance Ransomware Cyber Attacks 54

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.

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Small Business Cyber Insurance Insurance Cyber Risk 69

Centraleyes

MARCH 28, 2024

Coalition, a leader in cyber insurance, has added a positive endorsement for artificial intelligence (AI) to its cyber insurance plans for the US and Canada. The endorsement expands the definition of a security failure or data breach to include events caused by artificial intelligence.

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Malwarebytes

SEPTEMBER 14, 2022

This article focuses on helping to prevent cyberattacks purely through technology; though of course, businesses need a combination of technology, people, and strategy to truly become cyber resilient. That being said, security experts advise against relying solely on a single technology or technique to protect business endpoints.

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Technology DNS Cyber Insurance Insurance 65

Joseph Steinberg

AUGUST 5, 2021

One of the important concepts about which people must be aware when evaluating their cybersecurity postures and related liabilities, but which, for some reason, many folks seem to be unaware, is the difference between first-party risks and third-party risks. First-Party Risks And Coverage. Third-Party Risks And Coverage.

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Security Boulevard

JANUARY 18, 2024

Cybersecurity risks increase every year and bludgeon victims who fail to prepare properly. For those interested in a better understanding of the oncoming risks, this is the information you are looking for. It can feel like crossing a major highway while blindfolded. Many never see the catastrophe about to happen, until it occurs.

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Webroot

JULY 25, 2022

The first in-person event for RSA since the global pandemic had a slightly lower turnout than in years past (26,000 compared to 36,000 attendees). Here are some of the key trends which we observed at this year’s first marquee cybersecurity event post-pandemic: 1. Cyber insurance becomes mainstream discussion.

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Security Boulevard

AUGUST 22, 2022

Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. These attacks have driven the cost of cyber insurance premiums higher. Cyber insurance has become more critical to organizations to help offset the risk to the company.

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Security Affairs

FEBRUARY 8, 2024

26 key cyber security stats for 2024 that every user should know, from rising cyber crime rates to the impact of AI technolog y. Cyber Crime Surge: During COVID-19 , cyber crimes shot up by 600%, showing how threats adapt to global changes. Cyber Skills Gap: By 2025, there could be 3.5 million per breach.

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Social Engineering Cyber Attacks Cyber Insurance IoT 115

Krebs on Security

MARCH 2, 2023

. “Any such legislation should prevent manufacturers and software publishers with market power from fully disclaiming liability by contract, and establish higher standards of care for software in specific high-risk scenarios,” the strategy explains. ” Many of the U.S.

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SecureWorld News

AUGUST 18, 2020

Here is Carnival Corporation's ransomware and cyber incident statement, in full: On August 15, 2020, Carnival Corporation and Carnival plc (together, the "Company," "we," "us," or "our") detected a ransomware attack that accessed and encrypted a portion of one brand’s information technology systems. And if so, how much?

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Cyber Insurance Ransomware Insurance Technology 81

NetSpi Executives

APRIL 27, 2024

Ransomware, a definition Ransomware is a set of malware technologies, hacking techniques, and social engineering tactics that cybercriminals use to cause harm, breach data, and render data unusable. Some can’t afford not to pay, and some are covered by cyber insurance. About 1 in 4 victims pay the ransom.

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Centraleyes

MAY 6, 2024

At the annual InsureTech Connect event in Las Vegas last month, AI won the prize as the most trending topic preoccupying the entire industry. Every few decades, the world experiences a technological disruption that changes our lives. Every few decades, the world experiences a technological disruption that changes our lives.

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SecureWorld News

NOVEMBER 2, 2022

In the SecureWorld Spotlight Series, we learn about the speakers and Advisory Council members that make our events a success. He helps senior decision makers overcome cybersecurity sales objections and manages unlimited cyber risks through rigorous prioritization. A : I own a small business called Cyber Risk Opportunities LLC.

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SecureWorld News

DECEMBER 7, 2022

As the world becomes increasingly reliant on technology, cybersecurity remains a top priority for individuals, businesses, and governments alike. As cyber professionals continue to adopt the technology, so will malicious threat actors. Cyber insurance trends in 2023.

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eSecurity Planet

MARCH 17, 2023

From there, these tools send alerts to security teams if and when risks are identified. These platforms make it possible for security teams to analyze consolidated threat feeds from various external alerts and log events.

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SC Magazine

FEBRUARY 8, 2021

The relationship between enterprises and insurers, like the cyber insurance market itself, is evolving. Citing cybersecurity insurance as an important “component that businesses are investing in as a layer of protection,” Muldoon said no business should be operating without it. A maturing model. billion in premium.

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Adam Levin

JUNE 30, 2020

In the same survey, 35 percent thought CEOs should be fined for a cyber failure, and 30 percent wanted to see a CEO lose his or her right to run any company following a serious cyber event. And if it is, only you can take steps to get cyber right. Another 23 percent thought the CEO should face a prison sentence.

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SC Magazine

MAY 13, 2021

Last year a friend was preparing for a cybersecurity roundtable and asked me a thought-provoking question: What “black swan” event will make the world take stock of cybersecurity as an existential risk to the world? Every year, cyber events nudge up the digital risk level and we’ve become desensitized to the increasing temperature.

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Malwarebytes

SEPTEMBER 30, 2022

And a key part of building out any cybersecurity policy for your local government is to develop an organizational understanding of risk to systems, people, data, and so on. Take cyber insurance , for example. CISA, GSA, and the National Institute of Standards and Technology (NIST) help monitor for issues in the namespace.

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Government Cybersecurity Cyber Insurance Insurance 59

Security Boulevard

JUNE 26, 2022

That $3.29, even with cyber insurance, is still a significant hit to the organization’s bottom line. If the CEO requires a 20% reduction across the whole organization, reducing security only puts the company at risk for a breach that could make far more financially impactful than a drop in sales.

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SecureWorld News

JANUARY 21, 2024

Additionally, nonprofits must be aware of the risks posed by inadequate security in third-party services they use, such as fundraising platforms and email services. Financial risks and consequences Various cyberattacks on nonprofits can lead to direct financial losses through stolen funds or ransom demands.

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Centraleyes

MARCH 19, 2024

Geopolitical events wield substantial influence over global business operations. Critical considerations include assessing business recovery risks, ensuring employee safety, and mitigating financial losses. Organizations need to prepare for the future of work by investing in collaboration tools and technology that foster adaptability.

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Risk Backups Technology Cyber threats 52

SecureWorld News

MAY 5, 2023

Broadnax, who said he is optimistic that the risk is contained. Since City of Dallas' Information and Technology Services detected a cyber threat Wednesday morning, employees have been hard at work to contain the issue and ensure continued service to our residents," he said. The article quotes a statement from City Manager T.C.

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Ransomware Cyber Risk Cyber Insurance Social Engineering 79

Thales Cloud Protection & Licensing

NOVEMBER 15, 2023

To manage the risk of potential insider and outsider threats while ensuring operational efficiency, airport authorities must accurately credential each employee in line with federal and airport-specific regulations; therefore, identity and access management play a crucial role. Integrate separate siloed systems to limit data sprawl.

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Cybersecurity Authentication Digital transformation Cyber Insurance 87

The Last Watchdog

MARCH 1, 2019

There is a gaping shortage of analysts talented enough to make sense of the rising tide of data logs inundating their SIEM (security information and event management) systems. This, in short, is the multi-headed hydra enterprises must tame in order to mitigate rising cyber risks. But this hasn’t done the trick. Smart money.

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Thales Cloud Protection & Licensing

JULY 21, 2022

Reducing the risk of attacks such as ransomware and malware on CNI will be of paramount importance to the stability of nation states for years to come. For many organizations, paying the ransom can be less damaging than risking any additional impacts. The Threat of Ransomware.

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SecureList

NOVEMBER 9, 2022

The ongoing geopolitical storm brings not only classical cyberthreats for business, but also unpredictable risks and ‘black swans’ The main problem for 2023 will be supply-chain stability and cybersecurity. Yet, in addition to cyber insurance, companies will need a designated DR or RR (Rolling Recovery) plan.

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eSecurity Planet

JULY 8, 2022

Ransomware has now emerged as one of the key reasons to have a DR plan and DR technology in place. With a cyberattack, it’s more than just data that needs protecting—at risk is really the entire physical infrastructure from applications and operating systems down to low-level firmware and BIOS. Disaster Recovery and Ransomware.

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Duo's Security Blog

JUNE 21, 2021

While the risk of an employee clicking on a foreign prince’s secret gold offer may be past us, modern-day technologies have evolved and expanded in today’s remote work and IoT-connected settings. Don’t worry though, there's already an insurance policy for that. What is Cyber Liability Insurance?

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Insurance Cyber Insurance Data breaches Social Engineering 85

CyberSecurity Insiders

JANUARY 5, 2022

This alliance will allow the healthcare system to reduce its risk of a cyber-attack and help them achieve its cybersecurity goals. “We The cost of these cyber events is rising sharply with cyber insurance premiums and compliance requirements increasing. About CynergisTek, Inc.

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Healthcare Risk Cyber Insurance Cyber Attacks 52

SC Magazine

MAY 28, 2021

No, this was not an infection of the operational technology for Colonial Pipeline… but a shutdown resulted nonetheless. That distinction is important for identifying risk. “It’s an interesting world because in [industrial control systems], those who are holding the risk are not the ones who are managing the risk.

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