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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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A CISOs Practical Guide to Storage and Backup Ransomware Resiliency

The Hacker News

From a cyber risk perspective, attacks on data are the most prominent threat to organizations. Regulators, cyber insurance firms, and auditors are paying much closer attention to the integrity, resilience, and recoverability of organization data – as well as


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Safe Security Launches Return on Security Investment Calculator to Help Organizations Maximize Returns on Cybersecurity Budgets

CyberSecurity Insiders

global leader in cyber risk quantification and management (CRQM), today announced the Return on Security Investment (ROSI) Calculator, a new module of the SAFE platform. According to Safe Security’s findings , taking these three actions can reduce an organization’s financial risk by 30-40%. PALO ALTO, Calif.–(

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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.

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Higher Ed Ransomware Attack: University Pays Hackers $450,000

SecureWorld News

The ISO assisted the college in restoring locally managed IT services and systems from backup copies. The University had servers encrypted but restored the systems and the access from backups. It had cyber insurance: "The university’s cyber insurance policy paid part of the ransom, and the university covered the remainder.

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Ransomware Attack Hits Carnival Cruise Corporation: What We Know

SecureWorld News

Ransomware attacks: another argument for cyber insurance? Business interruption, loss of revenue and reputational damages are all financial burdens that cyber insurance can provide relief for. Partnering with a trusted insurance carrier with dedicated cybersecurity expertise is a must.".

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How to build a cyber capable board

Security Boulevard

In just a few years, cyber has transformed from the nerd in the corner into the Kim Kardashian of risk. businesses can be built on, and destroyed by, cyber risk. Cyber risk is seen as an IT issue, but our research shows that 90 per cent of incidents leading to cyber insurance claims resulted from human behaviour.