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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. On top of this, a significant 41% of victims opted to pay the ransom, which is a difficult decision that's fraught with its own respective complexities and risks.

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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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AI Gets an Endorsement from Coalition

Centraleyes

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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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 74
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Cyber-Liability Insurance 101: First Party Vs. Third Party Risks

Joseph Steinberg

One of the important concepts about which people must be aware when evaluating their cybersecurity postures and related liabilities, but which, for some reason, many folks seem to be unaware, is the difference between first-party risks and third-party risks. First-Party Risks And Coverage. Third-Party Risks And Coverage.

Insurance 141
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GUEST ESSAY: How to secure ‘Digital Twins’ to optimize asset use, while reducing exposures

The Last Watchdog

Our technological world is advancing at dizzying speeds. Add in an increasing focus on data becoming a crucial enterprise asset—as well as the introduction of countless database and analytical tools, digital twins, artificial intelligence, and machine learning—and we are dealing with unprecedented technical complexities and risk.

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Annual Reports: How They Warn of Cyber Risk

SecureWorld News

Cyberrisk is business risk. But how should we communicate this risk to the business, to clients, or to investors? Accenture annual report: risks we face from cyberattacks. However, we were most interested in seeing how Accenture articulated a particular business risk: the risk from a cyberattack.