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Cyber Insurance Costs Soaring: Is Your Organization Covered Enough?

SecureWorld News

In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents. This rapid ascent begs the question: what's driving the price hike, and are businesses fully prepared for the escalating cost of cyber defense?

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A Cyber Insurance Backstop

Schneier on Security

One possible solution, touted by former Department of Homeland Security Secretary Michael Chertoff on a recent podcast , would be for the federal government to step in and help pay for these sorts of attacks by providing a cyber insurance backstop. But this is easier said than done.

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One Year Later: What Have We Learned Since the Colonial Pipeline Attack

Thales Cloud Protection & Licensing

While implementation of security technologies such as multi-factor authentication and encryption have slightly increased, we have not yet reached the level where the majority of applications, data and operational technology are fully protected. Cyber insurance coverage ramps up. Todd Moore | VP, Encryption Products.

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Cybersecurity Best Practices for SMB IT

Hacker Combat

Carry Cyber Insurance. This makes carrying a cyber insurance policy with a reputable carrier a good idea. In addition to providing vital financial assistance in the wake of a data breach, cyber insurers scrutinize your security arrangements before agreeing to issue a policy. This must be addressed head-on.

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Cybersecurity for Nonprofits: Cost-Effective Defense Strategies

SecureWorld News

Remember, sometimes a little common sense goes a lot further than the fanciest encryption out there. Ransomware is another significant threat, where attackers encrypt an organization's data and demand payment for its release. The key here is implementing smart, affordable cybersecurity strategies that work best for nonprofits.

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Local government cybersecurity: 5 best practices

Malwarebytes

Take cyber insurance , for example. Cyber insurance can prevent local governments from having to pay huge out of pocket costs in the event that they’re hit with a cyberattack. Data encryption for data at rest and in transit. Baltimore learned this the hard way. (An Enhanced logging.

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The 2022 ThreatLabz State of Ransomware Report

Security Boulevard

Double-extortion attacks, which include data exfiltration in addition to encryption, are rising even faster at 117% year-over-year. This allows you to minimize the data that can be encrypted or stolen, reducing the blast radius of an attack. Deploy inline data loss prevention. Have a response plan.