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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network. Ransomware and its impact on businesses Industry-specific data from 2023 illustrates the widespread reach of ransomware and its resulting impact today. Let's find out.

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The future of cyber insurance

IT Security Guru

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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P-to-P fraud most concerning cyber threat in 2023: CSI

CSO Magazine

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%).

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5 Trends to Watch for Cybersecurity in 2023

SecureWorld News

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. These algorithms will be able to learn and adapt to changing patterns in cyber threats, allowing them to detect and respond to attacks in real time.

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XM Cyber’s Cybersecurity Predictions for 2023

CyberSecurity Insiders

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.

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2023 Cybersecurity Predictions from Marcus Fowler, Darktrace

CyberSecurity Insiders

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.

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New DHS Rules Aim to Enhance Visibility Across Critical Infrastructure

SecureWorld News

The goal of these mandatory reporting requirements is to help the federal government rapidly deploy resources to cyberattack victims, analyze trends to spot emerging threats quicker, share actionable warnings with potential targets, and ultimately strengthen America's cybersecurity resilience and incident response capabilities.