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The future of cyber insurance

IT Security Guru

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

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2023 Predictions for Storage and Backup Ransomware

CyberSecurity Insiders

Many of these attacks took advantage of known vulnerabilities and security misconfigurations in storage and backup systems. And backup and storage systems are rife with unpatched CVEs. Slow Gains on Storage and Backup Security. Make it extremely difficult to tamper with backups and exfiltrate data.

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Scant evidence that cyber insurance boom is leading to better security

SC Magazine

The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI. However, in practice, it is still yet to be seen if cyber insurance can fulfil this promise.”.

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Education Sector has Seen a 44% Rise in Cyber Attacks Since 2021

CyberSecurity Insiders

These attacks also tend to be more successful in access and payout in the event of ransom demands, with 74% of attacks ending successfully for hackers. Here are a few prime examples of cyber-attacks in the education sector. Cyber insurance. Make backups, and practice restoring from them. Conclusion.

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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. The number one type of cyber incident so far this year is ransomware.

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11 Cybersecurity investments you can make right now

CyberSecurity Insiders

Cyber insurance. Cyber insurance is designed to protect businesses from the financial repercussions of a cyber-attack. Cyber insurance has also become a new compliance requirement in many industries, including healthcare, finance, and retail. Cyber insurance can help cover these expenses.

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

Thales Cloud Protection & Licensing

Cyber insurance coverage ramps up. There is also huge debate around cyber insurance and whether it is fit for purpose. Cyber insurance is designed to help protect organizations against the fallout from cyber-attacks, including covering the financial costs of paying out ransomware demands and dealing with incidents.