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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 most of this language has not yet been tested by insurers trying to deny claims.

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4 ways businesses can save money on cyber insurance

Malwarebytes

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.

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Don’t Bet on Passwords: Using MFA to Make Insuring Your Security Less of a Gamble

Duo's Security Blog

By this point, we’re all familiar with the list of requirements for a strong password: unique, long, memorable, free from any personal information… But even the strongest passwords can pose a risk if they’re the only thing standing between your users and enterprise content. trillion USD annually by 2025?

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MFA Will Not Save the Insurance Industry

IT Security Guru

Everyone in the cyber insurance industry or trying to get cyber insurance today knows that using multifactor authentication (MFA) is an absolute make-or-break requirement for getting a cyber insurance policy; or if you can get a policy without MFA, you will pay a hefty increased premium for the same amount of coverage.

Insurance 110
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Can we get loan to pay ransom in ransomware attacks

CyberSecurity Insiders

Instead, the ransom pay can be covered from a cyber insurance policy, provided it is taken prior to the launch of the attack and covers the costs associated with the malware attack. Nope, says a renowned international bank from UK. Enhance security measures: Strengthen your security measures to prevent future attacks.

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5 technologies that help prevent cyberattacks for SMBs 

Malwarebytes

Your level of prevention is determined by how much risk you accept to take on. There are two extremes to prevent cyberattacks: Overly permissive prevention and absolute prevention—and where you fall on that spectrum depends on the level of risk in your organization. Bonus: Cyber insurance. “2FA is simple."

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A week in security (June 28 – June 4)

Malwarebytes

Other cybersecurity news. Other cybersecurity news. Stay safe, everyone!