eSecurity Planet
APRIL 22, 2022
That’s where cyber insurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 As the number and severity of data breaches continues to rise, organizations are recognizing that those costs are not theoretical. Cyber Insurance is Booming.
Centraleyes
MARCH 28, 2024
Coalition, a leader in cyber insurance, has added a positive endorsement for artificial intelligence (AI) to its cyber insurance plans for the US and Canada. The endorsement expands the definition of a security failure or data breach to include events caused by artificial intelligence.
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SecureWorld News
MARCH 28, 2024
Department of Treasury on March 27th released a report titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector." The report highlights the growing concern around artificial intelligence (AI) and its potential to introduce new cybersecurity threats to the financial industry.
Joseph Steinberg
AUGUST 5, 2021
Likewise, if you purchase appropriate first-party insurance, your insurance policy should cover the relevant losses – as the losses are borne directly by the policyholder (your business). iBynd also has a first-of-its-kind Personal Cyber Insurance offering that it delivers directly to consumers through CyberInsurancePlus.com.
SecureList
NOVEMBER 9, 2022
Given the continued surge of ransomware attacks, which soared 288% in the first half of 2022 alone, the need for cyber insurance will be a bigger priority, especially in the SMB market. As such, we anticipate a booming cyber insurance industry as many organizations heed these warnings and seek to guard against ransomware attacks.
Joseph Steinberg
JULY 8, 2021
Ironically, while many larger enterprises purchase insurance to protect themselves against catastrophic levels of hacker-inflicted damages, smaller businesses – whose cyber-risks are far greater than those of their larger counterparts – rarely have adequate (or even any) coverage.
Joseph Steinberg
AUGUST 5, 2021
Likewise, cyber insurance policies for individuals are starting to appear in the marketplace. Remember, a cyber-insurance policy is a legal contract – it is absolutely essential that policyholders adhere to policy requirements or they may find their otherwise valid claims denied should a cybersecurity incident occur.
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