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Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

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What is Cyber Liability Insurance?

Duo's Security Blog

According to Verizon’s most recent Data Breach Incident Report , instances of advanced ransomware have doubled in the past year, alongside major upticks in phishing attacks and social engineering. Don’t worry though, there's already an insurance policy for that. What is Cyber Liability Insurance?

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ROUNDTABLE: Why T-Mobile’s latest huge data breach could fuel attacks directed at mobile devices

The Last Watchdog

Instead of addressing the security gaps that have plagued T-Mobile for years, they are offering their customers temporary identity protection when breaches happen, as if to say, ‘This is the best we can do.’. Chris Clements, VP of Solutions Architecture, Cerberus Sentinel. For T-Mobile, this is the sixth major breach since 2018.

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Safety first: Will insurance companies stall or accelerate cybersecurity progress?

SC Magazine

Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.

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The Impact of Remote Work and Cloud Migrations on Security Perimeters

Security Affairs

Storing data in the cloud also comes with a heightened risk of data breaches. Moreover, cloud platforms store vast amounts of data in centralized repositories, and this concentration of data creates a single point of failure that, if breached, can lead to major data loss and exposure.

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Tackling DORA Compliance With a Focus on PAM

IT Security Guru

The result of this digitalisation is predominantly to bring speed, ease of use and innovative services to customers, yet it also introduces the risk of cyber attacks or incidents that could lead to data breaches, downtime and financial losses. DORA takes effect in January 2025.

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Key Cybersecurity Trends for 2024: My Predictions

Jane Frankland

It’s likely we’ll continue to witness a significant shift in the motivation behind prominent cyberattacks, as data sources indicate a resurgence in activities such as information theft, covert communication monitoring, and content manipulation from state sponsored attackers and cybercriminals. The first is by rule making.