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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. Insurers Assessing Risks.

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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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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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Cloudflare Helps Businesses Manage Their Cyber Risk; Announces Partnerships with Leading Cyber Insurers and Incident Response Providers

CyberSecurity Insiders

(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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Q&A: Why SOAR startup Syncurity is bringing a ‘case-management’ approach to threat detection

The Last Watchdog

This, in short, is the multi-headed hydra enterprises must tame in order to mitigate rising cyber risks. Demisto launched in May 2016. Sutton: SOAR was born out of the gap between what SIEMs were supposed to be and the rising sophistication of cyber threats. Smart money. Sutton: Syncurity has several innovations.

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MY TAKE: Poorly protected local government networks cast shadow on midterm elections

The Last Watchdog

Here are key takeaways: Local risks. During 2016, 39 states were hacked. As Ananth explained, the city did two things right: they had cyber insurance and they didn’t pay the ransom. For a drill down on our discussion, give the accompanying podcast a listen. Election threat. Let’s look at what happened in Atlanta again.

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NEW TECH: Brinqa takes a ‘graph database’ approach to vulnerability management, app security

The Last Watchdog

Imposing just the right touch of policies and procedures towards mitigating cyber risks is a core challenge facing any company caught up in digital transformation. Related: Data breaches fuel fledgling cyber insurance market. Enterprises, especially, tend to be methodical and plodding. Vulnerability management.