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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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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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Top Cyber Attacker Techniques, August–October 2024

Digital Shadows

Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. Ransomware attacks, in particular, pose a significant risk, though some sectors and regions are more vulnerable than others.

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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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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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12 Essential Risk Mitigation Strategies for 2024

Centraleyes

Understanding the Foundation of Risk Mitigation Implementing robust risk mitigation strategies is essential to navigating the complexities of risk-related compliance activities. But before discussing risk mitigation techniques , we must discuss the necessary prep work.

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Cybersecurity for Nonprofits: Cost-Effective Defense Strategies

SecureWorld News

Phishing attacks, for instance, are extremely common: these are deceptive emails or messages designed to steal data. Ransomware is another significant threat, where attackers encrypt an organization's data and demand payment for its release.