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.
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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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.
Duo's Security Blog
MAY 23, 2022
Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%. Do you need it? How do you qualify for it?
Security Affairs
AUGUST 21, 2020
The University of Utah admitted having paid a $457,059 ransom after the ransomware attack that took place on July 19, 2020, that infected systems on the network of the university’s College of Social and Behavioral Science [CSBS]). The university did not reveal the ransomware family involved in the attack.
Cytelligence
JANUARY 27, 2020
Effectiveness of data backup strategies. Unlocking – Organizations can either pay the ransom and hope for the cybercriminals to actually decrypt the affected files (which in many cases does not happen), or they can attempt a recovery by removing infected files and systems from the network and restoring data from clean backups.
Adam Levin
DECEMBER 27, 2019
At times it can seem like a war of attrition, which brings us to the first series of predictions for 2020: CISOs will get worse at their jobs. We will also see better backup practices that will help minimize or neutralize the threat of these attacks. . It’s good news for 2020 babies. . million).
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