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Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

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.

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Cyber Insurance Premiums Suddenly Surging

SecureWorld News

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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As market for cyber insurance booms, watchdog calls for better data

SC Magazine

Data from at least one insurance broker tracked a near doubling of clients who were opting in for cyber-specific insurance from 26% in 2016 to 47% in 2020. Lyle said the same rush of companies to shift some of their financial risks around cybersecurity to insurance also likely contributed to those increases.

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MY TAKE: SMBs can do much more to repel ransomware, dilute disinformation campaigns

The Last Watchdog

However, at this moment in history, two particularly worrisome types of cyber attacks are cycling up and hitting local government entities hard: ransomware sieges and election tampering. Related: Free tools that can help protect elections I had a deep discussion about this with Todd Weller, chief strategy officer at Bandura Cyber.

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Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges

Security Affairs

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. Hackers attack not only exchanges, but also its clients. From 2016 to 2017, the number of such incidents increased by 369 percent. Pierluigi Paganini.

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Top VC Firms in Cybersecurity of 2022

eSecurity Planet

Company Sector Year Status Verodin Cybersecurity analytics 2018 Acquired by FireEye Kenna Security Risk management 2018 Acquired by Cisco PhishMe Incident response 2016 Acquired: P.E. Also read : Addressing Remote Desktop Attacks and Security. Also read : Top Cyber Insurance Companies. BVP Investments. NightDragon.

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AON ACQUIRES CYTELLIGENCE, A LEADING INTERNATIONAL CYBER SECURITY FIRM WITH DEEP EXPERTISE IN CYBER INCIDENT RESPONSE AND DIGITAL FORENSIC INVESTIGATIONS

Cytelligence

The 2019 Cybersecurity Almanac published by Cisco and Cybersecurity Ventures predicts that cyber events will cost $6 trillion annually by 2021, as companies are digitizing most of their processes and are often operating remotely. Global cyber insurance premiums are expected to grow from $4 billion in 2018 to $20 billion by 2025.