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 103

SC Magazine

JUNE 28, 2021

The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI. Photo by Spencer Platt/Getty Images). But recent research shows that’s not happening.

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Cyber Insurance Insurance Ransomware Marketing 136

SecureWorld News

SEPTEMBER 10, 2020

2020 has been a year of great change and constant adaptation to new circumstances. 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.

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Cyber Insurance Insurance Ransomware Cyber Attacks 55

Cytelligence

JANUARY 27, 2020

As these attacks increase in their frequency, threat actors have had to evolve their strategies due to the following reasons: Competition from other threat actors vying for the same “pie”. Lessons learned” from attacks that did not generate a pay-out. Effectiveness of data backup strategies. Ransomware in 2020 .

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Ransomware Cyber Insurance Insurance Encryption 53

SecureWorld News

DECEMBER 2, 2020

The only way around the publishing of the data is to pay the attackers. "We We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. Which of the ransomware gangs or groups hit K12 Inc and its network in this cyber attack?

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Cyber Insurance Insurance Ransomware Backups 53

eSecurity Planet

OCTOBER 18, 2021

” Nicko died nine months later, on April 16, 2020. ” Cyber Insurance No Longer Reliable. ” Cyber Insurance No Longer Reliable. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. Ransomware Liability.

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Ransomware Cyber Insurance Insurance Digital transformation 104

eSecurity Planet

FEBRUARY 16, 2021

A ransomware attack is about as bad as a cyber attack can get. It can shut down your business – in the case of healthcare organizations that can be life-threatening for patients – damage your reputation with customers and employees, and invite further attacks as cybercriminals view your organization as an easy mark.

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Ransomware Backups Software Encryption 97