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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

Ransomware attacks have become a significant threat to organizations of all kinds worldwide, with attackers encrypting data and demanding payment for its release. 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.

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Top 8 Cyber Insurance Companies for 2022

eSecurity Planet

Cyberattacks are not only a technological problem for companies, but they also represent a very real financial threat. That’s where cyber insurance may be able to help. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage.

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US Treasury Warns of Cybersecurity Risks AI Poses to Financial Sector

SecureWorld News

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.

Risk 79
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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

Byron: I was initially drawn to cybersecurity as a USA TODAY technology reporter assigned to cover Microsoft. Erin: What cybersecurity technologies are you most excited about right now? Erin: What are some of the biggest cyber threats that businesses face today? Erin: How has the ransomware threat evolved in recent years?

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5 Trends to Watch for Cybersecurity in 2023

SecureWorld News

As the world becomes increasingly reliant on technology, cybersecurity remains a top priority for individuals, businesses, and governments alike. From advancements in artificial intelligence (AI) to the continued evolution of ransomware and cyberattacks, the coming year is sure to bring significant developments in the world of cybersecurity.

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Cyber-Liability Insurance 101: First Party Vs. Third Party Risks

Joseph Steinberg

First-party insurance, therefore, typically covers the costs of actions needed after a data breach, extortion, ransomware attack, or other hacker malfeasance. First-party insurers may also pay ransomware ransoms, for the costs of notifying customers of a data breach, and for lost business during incident-related downtime.

Insurance 141
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Cybersecurity threats: what awaits us in 2023?

SecureList

Supply-chain will become more of a sweet spot for targeted ransomware and state-sponsored espionage campaigns. Businesses will still be mostly concerned with ransomware. will lead more people to poverty, which always translates to increased criminality (cyber or otherwise), and we know ransomware to be extremely profitable.