Remove Backups Remove Cyber Risk Remove Cyber threats Remove Insurance
article thumbnail

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.

article thumbnail

Corvus Insurance Reports the Ratio of Ransoms Demanded to Ransoms Paid is Steadily Declining

CyberSecurity Insiders

The report provides an inside look at the insights and tools used by risk managers, IT departments, security researchers, and solution providers to hone their offerings and approaches to keeping organizations safe from evolving cyber threats. “By Ransomware claims and costs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Automating Security Risk Assessments for Better Protection

eSecurity Planet

Automated security risk assessments can be a good way to take your cybersecurity defenses to the next level and make your organization more efficient at the same time. Components of Security Risk Assessments. Data backups. Cybersecurity preparedness/ insurance. Manual risk assessments can be risky. Mobile devices.

Risk 70
article thumbnail

Cyber Security Awareness and Risk Management

Spinone

VoIP phishing and impersonation also victimized millions of corporate employees across the world , contributing to an even greater cyber threat. Cloud security success and choosing the right investments is all about having a clear understanding of threat types and their resulting damages.

article thumbnail

LW ROUNDTABLE: Cybersecurity takeaways of 2023 — and what’s ahead in 2024 ( part 1)

The Last Watchdog

A look back at the cybersecurity landscape in 2023 rings all-too familiar: cyber threats rapidly evolved and scaled up , just as they have, year-to-year, for the past 20 years. Focus on implementing robust backup and disaster recovery plans, user training, and the sharing of threat intelligence.

article thumbnail

Top Benefits of Effective 3rd Party Vendor Risk Management

Centraleyes

Operational risk: What’s the chance that a vendor might cause issues that will result in disrupted internal operations? Are you able to trust its reliability, or should you consider having a backup vendor just in case? What you need is a formalized program for identifying and mitigating these risks accordingly across all your vendors.

Risk 52
article thumbnail

Ransomware Is the No. 1 Cyber Threat This Year. Here’s What You Can Do

Adam Levin

Bear in mind that your data backups will be of no use if they are also encrypted by a ransomware attack, so keep them stored separately and offline. If your company already has cyber insurance coverage, consider increasing it. 1 Cyber Threat This Year. Don’t be the next Heritage Company.