Lohrman on Security

JANUARY 8, 2023

There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage?

Cyber Insurance 263

Cyber Insurance Cyber Attacks Insurance Risk 263

CSO Magazine

AUGUST 22, 2022

Insurance marketplace Lloyd’s of London is set to introduce cyber insurance exclusions to coverage for “catastrophic” state-backed attacks from 2023. The move is reflective of a maturing and quickly evolving cyber insurance market. Nation-state attacks pose systemic risk to insurers.

Cyber Insurance 72

Cyber Insurance Insurance Marketing Risk 72

CyberSecurity Insiders

MAY 1, 2023

Companies that fail to protect their customers’ information are likely to face lawsuits in the year 2023, as impacted customers are no longer willing to tolerate such acts at the expense of their privacy and financial losses. By the way, data spills occurring from state-funded hacks are no longer covered under cyber insurance.

Data breaches 138

Data breaches Cyber Insurance Insurance Technology 138

CSO Magazine

JANUARY 24, 2023

US financial institutions see peer-to-peer fraud and other digital fraud as the biggest cybersecurity concern in 2023. It was cited by 29% of respondents in a survey by Computer Systems Inc. CSI), followed by data breaches (23%), ransomware (20%) and a breach at a third party (15%).

Cyber threats 111

Cyber threats Identity Theft Cyber Insurance Insurance 111

The Hacker News

APRIL 10, 2023

As technology advances, cyberattacks are becoming more sophisticated. With the increasing use of technology in our daily lives, cybercrime is on the rise, as evidenced by the fact that cyberattacks caused 92% of all data breaches in the first quarter of 2022.

Cyber Insurance 88

Cyber Insurance Insurance Cybersecurity Data breaches 88

Malwarebytes

NOVEMBER 15, 2023

Formed around 2016 to defend Ukraine’s cyberspace against Russian interference, the UCA used a public exploit for CVE-2023-22515 to gain access to Trigona infrastructure. Trigona is responsible for at least 30 attacks across various sectors since first emerging in October 2022. However, this figure might not fully represent the situation.

Ransomware 93

Ransomware Education Backups Cyber Insurance 93

CyberSecurity Insiders

JANUARY 10, 2023

this tumultuous climate, it’s a safe bet to say that 2023 will be a year in which cybersecurity remains top of mind. Customer networks will become increasingly complex in 2023 as companies continue to move their critical assets to the cloud environment. In 2023, Microsoft Active Directory (AD) will continue to be a major risk.

Cybersecurity 108

Cybersecurity Identity Theft Digital transformation Cyber Insurance 108

SecureList

NOVEMBER 9, 2022

What cyberthreats for business will be the greatest in 2023? The ongoing geopolitical storm brings not only classical cyberthreats for business, but also unpredictable risks and ‘black swans’ The main problem for 2023 will be supply-chain stability and cybersecurity. Threat modeling approaches will be changed in 2023.

Cybersecurity 128

Cybersecurity Cyber Insurance Cybercrime IoT 128

CyberSecurity Insiders

JANUARY 6, 2023

Organizations are being confronted on all sides by cyber-danger. Here are our top 4 predictions on how this will play out in 2023: More Data Attacks, Greater Sophistication, Bigger Monetary Losses. Insurance Refusals and Rate Hikes. But not insurance companies. We will begin to see that shifting in 2023.

Backups 136

Backups Ransomware Insurance Cyber Insurance 136

SecureWorld News

DECEMBER 7, 2022

But 2023 might be the year it all comes to fruition. In 2023, experts predict we will see even more widespread adoption of AI in cybersecurity. In 2023, we can expect this skills and labor shortage to continue. Cyber insurance trends in 2023. million cybersecurity jobs worldwide.

Cybersecurity 89

Cybersecurity Cyber Insurance Insurance Social Engineering 89

Security Boulevard

JANUARY 9, 2023

Cybersecurity budgets under pressure…regulators tightening risk disclosure rules.breakdown in the cyber insurance market. As 2022 ended, a series of trends lined up that will set the agenda in 2023 for cyber risk and security leaders.

Cyber Risk 52

Cyber Risk Risk Cyber Insurance Insurance 52

CyberSecurity Insiders

DECEMBER 18, 2022

A look ahead to 2023 we can expect to see changes in MFA, continued Hactivism from non-state actors, CISOs lean in on more proactive security and crypto-jackers will get more savvy. MFA will remain critical to basic cyber hygiene, but it will cease to be seen as a stand-alone ‘set and forget’ solution.

Cybersecurity 125

Cybersecurity CISO Insurance Ransomware 125

Security Boulevard

JANUARY 25, 2023

It is difficult to predict with certainty what the top trends in cyberinsurance will be in 2023, as the field is constantly evolving and new developments are emerging all the time. The post CyberInsurance Predictions for 2023 appeared first on Security Boulevard.

Cyber Insurance 105

Cyber Insurance Insurance Risk Government 105

Cisco Security

JANUARY 10, 2023

Here are the topics that I think will be top of mind in 2023, and what CISOs can do to prepare. As a result of this, next year we could see CISOs tightening up the disclosure decision making process, focusing on quicker and greater clarity on breach impact, and even looking to include personal liability cover in cyber insurance contracts.

CISO 127

CISO Insurance Cyber Insurance Phishing 127

SecureWorld News

DECEMBER 29, 2022

Here's a compilation of a dozen solid trend pieces looking back at the year that was 2022 and the year ahead in 2023. Top 10 Challenges Facing CISOs in 2023 – "While 2022 was certainly no walk in the park, strong cybersecurity investments and institutional support suggest a light at the end of the tunnel.

Cybersecurity 70

Cybersecurity CISO Artificial Intelligence Digital transformation 70

Security Boulevard

JANUARY 8, 2023

There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage? The post Are Cyber Attacks at Risk of Becoming ‘Uninsurable’? appeared first on Security Boulevard.

Cyber Attacks 98

Cyber Attacks Cyber Insurance Risk Insurance 98

CSO Magazine

JUNE 14, 2023

Finding the right insurance has become a key part of the security equation, which is no surprise given that the average cost of a data breach in the US has risen to $9.44 The global cyber insurance market was valued at $13.33 billion in 2023 to $84.62 million — more than twice the global average of $4.35 billion by 2030.

Insurance 121

Insurance Data breaches Cyber Insurance Marketing 121

Security Boulevard

AUGUST 25, 2022

announced that it will require its underwriters, globally, “to exclude catastrophic state-backed hacks from stand-alone cyber insurance policies” starting in March 2023. This elimination of cyber policies involving nation-state adversaries is not surprising. Last week, Lloyd’s of London Ltd.

Insurance 103

Insurance Cyber Attacks Cyber Insurance Hacking 103

BH Consulting

JUNE 13, 2023

Target the human, swipe the cash: Verizon DBIR 2023 highlights crime trends Manage the human risk and mind your money: those are two key takeaways from Verizon’s 2023 Data Breach Investigations Report. MORE SANS Institute lists the top five most dangerous attacks in 2023.

Social Engineering 52

Social Engineering Data breaches Scams DDOS 52

SecureWorld News

DECEMBER 27, 2022

While claims due to natural catastrophes are expected to top $100 billion in 2022 -- as it did in 2021 -- losses due to cyber attacks continue to climb. Insurance underwriters have no choice but to try and limit exposure through providing less coverage or hiking up the cost of cyber insurance.

Insurance 71

Insurance Cyber Attacks Cyber Insurance Marketing 71

Dark Reading

APRIL 27, 2023

Compliance acts as primary driver for obtaining cyber insurance, but budget constraints hinder efforts.

Cyber Insurance 56

Cyber Insurance Insurance Cybersecurity 56

The Last Watchdog

AUGUST 1, 2023

1, 2023 – Guardz , the cybersecurity company securing and insuring SMEs, today disclosed the existence of a Hidden Virtual Network Computing (hVNC) malware targeting macOS devices. Tel Aviv, Israel, Aug.

Malware 189

Malware Insurance Cyber Insurance Small Business 189

SecureWorld News

MAY 9, 2023

According to the Los Angeles Times , the County had been quiet about the incident for weeks, reportedly discovering the attack in early April 2023. This case also adds to an already interesting discussion related to ransomware and cyber insurance. Should organizations be required to have cyber insurance?

Cyber Insurance 86

Cyber Insurance Insurance Ransomware Encryption 86

Malwarebytes

FEBRUARY 26, 2023

How to set up two-factor authentication on Twitter using an app How to set up two-factor authentication on Twitter using a hardware key Multilingual skimmer fingerprints 'secret shoppers' via Cloudflare endpoint API HardBit ransomware tailors ransom to fit your cyber insurance payout The 5 most dangerous cyberthreats facing businesses this year Samsung (..)

Cyber Insurance 78

Cyber Insurance Insurance Authentication Healthcare 78

Security Affairs

DECEMBER 28, 2022

With the increase in the number of cyber attacks, a growing number of organizations opted to transfer the cyber risk by underwriting cyber insurance. The increase in cyber losses in recent years pushed up prices, some insurance companies also changed their policies to limit their refunds in case of cyber incidents.

Cyber Attacks 85

Cyber Attacks Cyber Insurance Insurance Cyber Risk 85

Security Affairs

FEBRUARY 8, 2024

Ransomware Attacks: In 2023, a whopping 72.7% Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 of organizations faced ransomware. The cost of these attacks could hit $265 billion annually by 2031.

Social Engineering 115

Social Engineering Cyber Attacks Cyber Insurance IoT 115

Javvad Malik

AUGUST 22, 2022

Lloyds of London has told its members to exclude nation state cyber attacks from insurance policies beginning in 2023, saying they pose unacceptable levels or risk. Hmm so where do we begin to unpack this one? Attribution is never easy, even in the best of times.

Insurance 145

Insurance Cyber Attacks Social Engineering Cyber Insurance 145

Security Affairs

NOVEMBER 5, 2023

Kinsing threat actors probed the Looney Tunables flaws in recent attacks ZDI discloses four zero-day flaws in Microsoft Exchange Okta customer support system breach impacted 134 customers Multiple WhatsApp mods spotted containing the CanesSpy Spyware Russian FSB arrested Russian hackers who supported Ukrainian cyber operations MuddyWater has been spotted (..)

Cyber Insurance 95

Cyber Insurance Cryptocurrency Internet Internet 95

Security Affairs

OCTOBER 30, 2023

One of the most interesting aspects that emerged from the 2023 Hacker-Powered Security Report is the improvement of the patch management process, customers are getting faster at fixing vulnerabilities. The average platform-wide remediation time dropped 10 days in 2023.

Cyber Insurance 111

Cyber Insurance Hacking Insurance CISO 111

SecureWorld News

MARCH 28, 2024

Having clear definitions gives cyber insurers a way to work with critical infrastructure on underwriting decisions based on these guidelines," Gallagher noted. billion implementation cost from 2023-2033 "modest compared to the scale of cybercrime." Gallagher called the estimated $2.6

Cyber Insurance 91

Cyber Insurance Government Insurance Cyber Risk 91

Centraleyes

MAY 6, 2024

Governance of Artificial Intelligence in Insurance Like many areas of regulatory governance, we see a ripple effect that starts in the EU, spreads to California, gets sprinkled across the U.S. The final extent and scope of the measures still need to be clarified, but these will have real impacts on the insurance and pensions sectors.

Insurance 52

Insurance Artificial Intelligence Cyber Insurance Marketing 52

SecureWorld News

FEBRUARY 6, 2024

New regulatory filings have exposed the skyrocketing costs of major cyber incidents, as big brands Clorox and Johnson Controls admitted collectively suffering more than $75 million in attack-related expenditures last year. Cleaning giant Clorox was struck by an unspecified cyber event discovered in August 2023.

Insurance 93

Insurance Cyber Insurance Cyber Risk Cyber threats 93

SecureWorld News

NOVEMBER 2, 2022

Q : What is an industry-wide change you would like to see happen in 2023? A : Our profession should put a higher priority on implementing the controls required by cyber insurance carriers, because they're starting to figure out what really reduces the risk of a major incident. See the conference agenda and register here.

Cybersecurity 84

Cybersecurity Cyber Insurance Insurance Cyber Risk 84

Centraleyes

APRIL 9, 2024

The top five countries and regions for the highest average cost of a cyber security breach in 2023 were as follows: the US ($9.4 million, while compromised IP and customer data lead the pack in records stolen, costing companies an average of $183 per record in 2023. million per big data breach. million), the Middle East ($8.07

Data breaches 52

Data breaches Cyber Insurance Insurance Ransomware 52

SecureWorld News

DECEMBER 1, 2022

The California Privacy Rights Act (CPRA)—a more stringent update of the California Privacy Protection Act (CCPA)—goes into effect January 1, 2023, adding in employee data and business-to-business data under its scope of privacy protection. Cyber insurance (critical). Scott Giordano, General Counsel and. VP of Corporate Privacy.

InfoSec 74

InfoSec Cyber Insurance Consumer Protection Insurance 74

Krebs on Security

MARCH 2, 2023

INSURING THE INSURERS One brief but interesting section of the strategy titled “Explore a Federal Cyber Insurance Backdrop” contemplates the government’s liability and response to a too-big-to-fail scenario or “catastrophic cyber incident.”

Cybersecurity 242

Cybersecurity Insurance Cyber Insurance Government 242

Jane Frankland

DECEMBER 7, 2023

In 2023 they rose significantly , with ransom demands becoming more personal, (e.g. Additionally, expect to see more disclosures to regulators from hacking groups, like the one by ALPHV/BlackCat to the SEC in November 2023. Cyber Insurance In 2024, the cyber insurance landscape is expected to undergo significant changes.

Cybersecurity 130

Cybersecurity Cyber threats Insurance Artificial Intelligence 130