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Ransomware: Number One Cyber Insurance Claim

SecureWorld News

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. 4 key takeaways from cyber insurance industry report. Cyber insurance works.

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MSPs: Becoming the Trusted Cyber Insurance Advisor

Duo's Security Blog

In its modern iteration, cyber liability insurance mitigates the losses and business costs associated with cyber incidents and resulting downtime. CyberCube, a company specializing in quantifying cyber risk, estimates that the U.S. standalone cyber insurance market could reach $45 billion in premiums by 2034.

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Cyber Liability Insurance – What You Need to Know

Duo's Security Blog

Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%. No doubt, cyber insurance is a hot topic right now.

Insurance 105
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What you need to know: The biggest cyber threats in 2024

Webroot

Having regular backups means you can recover without having to pay a ransom. For consumers: Keep personal backups of important files (photos, documents, etc.) For SMBs: Consider a cybersecurity audit to identify any weaknesses in your system, and make sure your backup plans are up to date. on an external drive or in the cloud.

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It’s time to ask: Is ransomware insurance bad for cybersecurity?

Webroot

Another issue with the cyber insurance industry stems from the fact that paying a ransom is no guarantee that data will be returned. The post It’s time to ask: Is ransomware insurance bad for cybersecurity? appeared first on Webroot Blog.

Insurance 131
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Discover 2022’s Nastiest Malware

Webroot

As a result, many organizations are shifting away from cyber insurance and adopting layered defenses in an effort to achieve cyber resilience. Lock down Remote Desktop Protocols (RDP) Educate end users Install reputable cybersecurity software Set up a strong backup and disaster recovery plan. Strategies for individuals.

Malware 89
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To Cover or Not to Cover: The Cyber Liability Insurance Quandary Facing Small- and Medium-Sized Businesses

Duo's Security Blog

The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories. What are you doing about backups? For more on this take a look at our guide: How Cyber Insurance Can Be a Lifeline in Today’s Evolving Threat Landscape.