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.
The Last Watchdog
JANUARY 20, 2020
To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.
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CyberSecurity Insiders
NOVEMBER 15, 2022
Cyber Insurance premiums are becoming dearer and the reason for such a rise is claimed to be sophistication in attacks that are making mitigation and recovery expensive. Most companies are showing laxity in following basic cyber security hygiene, leading to a surge in cyber-attacks and data breaches.
eSecurity Planet
MAY 27, 2021
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.
SC Magazine
APRIL 19, 2021
AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.
Adam Levin
JULY 8, 2020
Hackers were also quick to pounce on the disruption caused by the 2018 shutdown of the U.S. We are all weary of the endless cycle of hacks and data breaches and we’re increasingly blaming businesses that have been compromised rather than the hackers themselves.
Krebs on Security
AUGUST 29, 2019
In July, attackers hit QuickBooks cloud hosting firm iNSYNQ , holding data hostage for many of the company’s clients. In February, cloud payroll data provider Apex Human Capital Management was knocked offline for three days following a ransomware infestation. ” Read the full ProPublica piece here.
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