Lohrman on Security

MARCH 13, 2022

Cyber insurance is only getting more expensive, and the market is changing dramatically, with more changes to come. So what trends will drive adoption, rates and the wider future of cyber insurance?

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Cyber Insurance Insurance Marketing Government 266

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. Here, cyber insurance serves as an invaluable safety net by offering essential financial coverage and support services in the event of a ransomware attack occurring.

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Cyber Insurance Insurance Ransomware Risk 91

Schneier on Security

SEPTEMBER 10, 2019

Good paper on cybersecurity insurance: both the history and the promise for the future. 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.

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Insurance Cyber Insurance Cybersecurity Risk 204

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. However, just as the threats evolve, so too does the cost of protection, with the global cyber insurance market projected to balloon to a staggering $90.

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Cyber Insurance Insurance Cyber Risk Data breaches 102

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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Cyber Insurance Insurance Software Cybersecurity 102

Schneier on Security

JANUARY 25, 2022

The insurance company Ace American has to pay for the losses: On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute. Merck suffered US$1.4 Merck suffered US$1.4

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Insurance Cyber Attacks Government Malware 169

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. Tom Kang, CEO, Converge, added, “We’re thrilled to partner with QBE North America given their experience and reputation in the cyber insurance market.

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Cyber Insurance Insurance Cyber Risk Small Business 155

Security Affairs

MARCH 12, 2024

The Postal Police has issued an alert to warn citizens against insurance scams using QR codes. In practice, fake insurance operators contact victims through calls, messages, or sponsorships on social networks, offering policies at advantageous prices. Online companies do not use generic domains or channels such as WhatsApp or Telegram.

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Insurance Scams Education Engineering 110

Security Boulevard

JANUARY 30, 2024

Insurance broker Keenan and Associates is notifying more than 1.5 The post Insurance Broker Keenan Says 1.5 million people that their personal information may have been stolen during a cyberattack on its systems last summer. Million Affected by Data Breach appeared first on Security Boulevard.

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Insurance Data breaches Hacking Financial Services 125

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.

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Insurance Data breaches Cyber Insurance Marketing 121

Security Boulevard

AUGUST 8, 2023

Prioritizing cyber insurance in a comprehensive information security program is a relatively new concept and navigating the process can be confusing. Even insurance companies sometimes have a hard time keeping up with the changing landscape. The post The MSP’s Role in Cyber Insurance appeared first on Security Boulevard.

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Cyber Insurance Insurance Information Security Cybersecurity 94

Bleeping Computer

OCTOBER 21, 2023

Insurance giant American Family Insurance has confirmed it suffered a cyberattack and shut down portions of its IT systems after customers reported website outages all week. [.]

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Insurance 119

CyberSecurity Insiders

DECEMBER 26, 2022

Insurance companies like Lloyd offer cyber insurance policies that cover a business from facing a business loss during a cyber-attack. However, in coming days, cyber attacks will become uninsurable, as per Mario Greco, the Chief of Zurich Insurance. So, will cyber insurance vanish with time? isn’t it? .

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Insurance Cyber Attacks Cyber Insurance Ransomware 129

Security Affairs

JANUARY 6, 2024

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 billion insurance claim for the losses caused by the NotPetya attack that took place in 2017. Merck had not taken out specific insurance to cover cyber attacks, it only had insurance coverage against general risks.

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Insurance Manufacturing Ransomware Healthcare 118

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. to 130.6%).

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Insurance Risk Cyber Insurance Cybersecurity 70

Dark Reading

NOVEMBER 6, 2023

As cyber insurance gets more expensive and competitive, security decision-makers have actionable opportunities to strengthen their cyber defenses.

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Insurance Cyber Insurance Cybersecurity 126

Security Boulevard

SEPTEMBER 3, 2023

Cyber insurance offers financial protection and support in the event of a cyber attack, data breach, or other cyber-related incidents. Ironically, the security that insurance brings to policyholders stands in contrast to the shifting, dynamic state of the cyber insurance market in general.

Cyber Insurance 115

Cyber Insurance Insurance Marketing Data breaches 115

Bleeping Computer

MARCH 19, 2024

With the growing number of data breaches and cyberattacks, insurance premiums are increasing. Learn more from Specops Software about how securing an Activity Directory could lead to lower cyber insurance premiums. [.]

Cyber Insurance 80

Cyber Insurance Insurance Data breaches Software 80

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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Cyber Insurance Insurance Marketing Cyber Risk 113

Graham Cluley

FEBRUARY 8, 2024

Two US insurance companies are warning that thousands of individuals' personal information may have been stolen after hackers compromised computer systems. Read more in my article on the Hot for Security blog.

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Insurance Data breaches 115

Dark Reading

MARCH 30, 2023

Risk reassessment is shaking up the cybersecurity insurance market, leading some organizations to consider their options, including self-insurance.

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Insurance Cyber Insurance Marketing Risk 101

Security Boulevard

APRIL 4, 2024

The moment when that dreaded questionnaire from your Cyber Insurer lands on your desk like a ton of digital bricks. The post Cyber Insurance Reduces Risk: Five Ways to Lower Your Rates appeared first on Security Boulevard.

Cyber Insurance 70

Cyber Insurance Insurance Risk CISO 70

Security Boulevard

JANUARY 9, 2024

What do CISOs and Insurance Risk Managers have in common? They both help to protect earnings and reduce volatility by identifying and reducing risk to keep the company functioning, investors Read More The post CISOs and Insurance Risk Managers Unite appeared first on Axio.

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Insurance CISO Risk Cyber Risk 62

Security Boulevard

APRIL 1, 2024

Even on April Fool’s Day, it’s no joke that the astronomical cost of cyber insurance has surged in recent years, reflecting the escalating frequency and severity of cyberattacks.

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Cyber Insurance Insurance Data breaches Ransomware 62

Bleeping Computer

DECEMBER 21, 2023

First American Financial Corporation, the second-largest title insurance company in the United States, took some of its systems offline today to contain the impact of a cyberattack. [.]

Insurance 107

Insurance 107

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.

Cyber Insurance 62

Cyber Insurance Insurance Cyber Risk Risk 62

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. Compliance: Certain industries and jurisdictions require organizations to have cyber insurance or to meet certain cybersecurity standards.

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Cyber Insurance Insurance Risk CISO 97

Dark Reading

JUNE 29, 2023

Now, if you've got an IoT network powered by Pepper, you can insure it through Embedded Insurance — even if your business is too small to support a SOC.

Insurance 87

Insurance Cyber Insurance IoT 87

SecureWorld News

AUGUST 1, 2023

One aspect of these cyberattacks that has been hotly debated is the role that cybersecurity insurance plays in these incidents. To better understand the relationship between insurance and ransomware, U.K.-based RUSI's research challenges the notion that cyber insurance is a direct catalyst for ransomware.

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Cyber Insurance Insurance Marketing Ransomware 82

Dark Reading

OCTOBER 13, 2023

Progress Software plans to collect millions in cyber insurance policy payouts after the MOVEit breaches, which will make getting coverage more expensive and harder to get for everyone else, experts say.

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Cyber Insurance Insurance Software 112

Penetration Testing

DECEMBER 7, 2023

Pan-American Life Insurance Group (PALIG), a leading provider of life, accident, and health insurance throughout the Americas, recently announced that it was impacted by a widespread data security incident involving Progress Software’s MOVEit Transfer... The post Pan-American Life Insurance Group Hit by Data Breach appeared first on Penetration (..)

Insurance 86

Insurance Data breaches Penetration Testing 86

Security Boulevard

MARCH 6, 2024

By Nathaniel Raymond A relatively small malicious car insurance/financial-themed email campaign has been landing in inboxes since late January of this year. com, where they […] The post Car Insurance Emails Drives for NetSupport RAT Infection appeared first on Cofense.

Insurance 57

Insurance Marketing 57

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? that’s insane….isn’t isn’t it? .

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Cyber Insurance Insurance Cyber Attacks Cybersecurity 120

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. Unfortunately, transferring traditional insurance models to the cyber-sphere isn’t an easy task.

Cyber Insurance 134

Cyber Insurance Insurance Small Business Marketing 134

SecureWorld News

NOVEMBER 3, 2023

Cyber liability and crime insurance are like a safety net for businesses, but they're not perfect. Third, cyber risks are constantly evolving, and insurance companies may not be able to keep up. New threats are emerging all the time, and it can take time for insurance companies to update their policies.

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Insurance Cyber Risk Risk Cyber Insurance 84

CyberSecurity Insiders

FEBRUARY 21, 2023

But now a new file encrypting malware variant has emerged onto the block that demands ransom, based on the insurance cover. ransomware does so during negotiations and tries to find the exact amount to be covered with the cyber insurance and then demands ransom.

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Insurance Ransomware Cyber Insurance Encryption 124

Identity IQ

FEBRUARY 21, 2021

Identity theft insurance is a type of insurance policy that can help victims recover from losses caused by identity theft. It may be offered as a standalone policy, or as a benefit with other types of insurance or identity protection plans. Not all identity theft insurance policies offer the same level of coverage.

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Identity Theft Insurance Banking Accountability 122