Remove 2023 Remove Cyber Insurance Remove Data breaches Remove Ransomware
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Data Breach lawsuits against companies increasing in the year 2023

CyberSecurity Insiders

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.

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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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Cyber liability insurance vs. data breach insurance: What's the difference?

CSO Magazine

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

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Exploring the Cost of a Data Breach and Its Implications

Centraleyes

According to IBM’s recently released “Cost of a Data Breach” statistics report, the average financial toll of a data breach has surged to an unprecedented $4.45 Regional Disparities in Data Breach Costs The United States emerges with a significantly higher average cost of $9.4

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2023 Predictions for Storage and Backup Ransomware

CyberSecurity Insiders

2022 clearly demonstrated that attacks on data represent the greatest cyber-threat organizations face. Notable data breaches took place at Microsoft, News Corp., Organizations are being confronted on all sides by cyber-danger. Insurance Refusals and Rate Hikes. But not insurance companies.

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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. CSI), followed by data breaches (23%), ransomware (20%) and a breach at a third party (15%). It was cited by 29% of respondents in a survey by Computer Systems Inc.

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Cybersecurity threats: what awaits us in 2023?

SecureList

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. Vladimir Dashchenko , Security Evangelist, Kaspersky.