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Cyber Insurance and the Attribution Conundrum

Cisco CSR

Most insurance policies already include provisions that exclude the consequences of armed conflict. Applying these to potential cyber warfare is a logical step. The malicious actors who conduct cyber attacks are referred to as threat actors.

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Next CISO headache: Vendor cyber insurance

CyberSecurity Insiders

Cyber insurance coverage? The many breaches and the dollar judgements handed down make cyber insurance another costly operating investment. Typically, a corporation’s top tier of vendors has some form of cyber insurance. Cyber hygiene vigilance.

Insiders

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Top 8 Cyber Insurance Companies for 2022

eSecurity Planet

That’s where cyber insurance may be able to help. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage. Cyber Insurance is Booming. Selecting a Cyber Insurer.

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Is it Time to Update Your Cyber Insurance Strategy?

Security Boulevard

In 2021, rethinking your cyber insurance strategy should be a top priority for CISOs and executive leadership. The elevated risk landscape is driving growing demand for cyber insurance: Nearly four out of five organizations.

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Are Cyber Insurers Cybersecurity’s New Enforcers?

Security Boulevard

The post Are Cyber Insurers Cybersecurity’s New Enforcers? CISO Suite Cybersecurity Data Security Endpoint Governance, Risk & Compliance Incident Response Network Security Security Awareness Security Boulevard (Original) cyberinsurance Ransomware Risk Assessments

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Nine Top of Mind Issues for CISOs Going Into 2023

Cisco CSR

In my role, I regularly engage with CISOs in all kinds of sectors, representatives at industry bodies, and experts at analyst houses. Using this information, last year I wrote a blog summing up the nine top of mind issues I believed will most impact CISOs as we headed into 2022.

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Two Tools from RiskLens for Defensive Cyber Insurance Shopping

Security Boulevard

cyber insurance carriers in 2021 rose 92% year-over-year, largely in response to a surge in ransomware. The post Two Tools from RiskLens for Defensive Cyber Insurance Shopping appeared first on Security Boulevard.

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How War Impacts Cyber Insurance

Threatpost

Chris Hallenbeck, CISO for the Americas at Tanium, discusses the impact of geopolitical conflict on the cybersecurity insurance market. InfoSec Insider

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Safe Security Launches First Cybersecurity MGA to Underwrite Cyber Insurance Based on Continuous “Inside-Out” Cyber Risk Telemetry

CyberSecurity Insiders

global leader in cyber risk quantification and management (CRQM), today launched SafeInside Insurance, the first cybersecurity Managing General Agent (MGA) leveraging API-based cyber risk telemetry and quantified insights to underwrite cyber insurance.

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Caveat Emptor: Calculating the Impact of Global Attacks on Cyber Insurance

Dark Reading

The reality for business owners and CISOs looking to protect their business from a cyberattack is that cyber insurance is not a catchall for protecting against risk and loss

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Cybersecurity Insights with Contrast CISO David Lindner | 1/20

Security Boulevard

We can do better as an industry." Insight #2 " New this week was the release of a $45 million cyber catastrophe bond targeted at an extreme loss (up to $300 million) in a cyber breach. It is yet another level in cyber insurance.

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In a Quickly Evolving Landscape, CISOs Shift Their 2022 Priorities

Dark Reading

Cloud migration, DevSecOps, cyber insurance, and more have emerged as important motivators for cybersecurity investment and focus

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Cyber Risk Quantification: Three Key Use Cases

Security Boulevard

CISOs continue to face an uphill battle, and one of their biggest headaches is where to focus cyber investments. The post Cyber Risk Quantification: Three Key Use Cases appeared first on Axio.

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Report: Ransomware Attacks and the True Cost to Business

Security Boulevard

Ransomware attacks have continued to make headlines, and for good reason: on average, there is a new ransomware attack every 11 seconds, and the losses to organizations from ransomware attacks is projected to reach $20 billion over the course of 2021 following a record increase in losses of more than 225% in 2020.

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Download eBook: Top virtual CISOs share 7 tips for vCISO service providers

The Hacker News

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CISO Roundtable: Ransomware Attacks and the True Cost to Business

Security Boulevard

The post CISO Roundtable: Ransomware Attacks and the True Cost to Business appeared first on Security Boulevard.

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Cynomi Automated Virtual CISO (vCISO) Platform for Service Providers

The Hacker News

Growing cyber threats, tightening regulatory demands and strict cyber insurance requirements are driving small to medium-sized enterprises demand for strategic cybersecurity and compliance guidance and management.

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CISO Stories Podcast: Ransomware Attacks and the True Cost to Business

Security Boulevard

The post CISO Stories Podcast: Ransomware Attacks and the True Cost to Business appeared first on Security Boulevard.

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Google Cloud CISO Phil Venables on the future of cloud security

CSO Magazine

In March 2021 Google Cloud announced a new offering called Risk Protection Program, which is designed to help its cloud customers reduce security risk and connect with Google’s insurer partners, Allianz Global Corporate & Specialty and Munich Re.

Insurance 101
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Cyber Security and Segregation of Duties

Security Boulevard

What Cybersecurity Needs To Know About Segregation Of DutiesCybersecurity has moved to the top of the list of priorities of CISOs and not just because of the astronomical cost of cyber insurance. The post Cyber Security and Segregation of Duties appeared first on SafePaaS.

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Has ESG Become aWake-Up Call for Cybersecurity?

Security Boulevard

Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. Cyber incidents happen every day. These attacks have driven the cost of cyber insurance premiums higher.

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Insurance Occurrence Assurance?

Andrew Hay

Though the breaches are concerning, the real story is that the financial institution suing its insurance provider for refusing to fully cover the losses. From the article: In its lawsuit (PDF), National Bank says it had an insurance policy with Everest National Insurance Company for two types of coverage or “riders” to protect it against cybercrime losses. This, unfortunately, is the nature of insurance.

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RiskLens CEO Nick Sanna on Cyber Risk Quantification in 2023

Security Boulevard

Cybersecurity budgets under pressure…regulators tightening risk disclosure rules.breakdown in the cyber insurance market. As 2022 ended, a series of trends lined up that will set the agenda in 2023 for cyber risk and security leaders.

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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. Ask your cyber exec to explain the threats facing the organisation. 2 Talk to your CISO.

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Don’t Bet on Passwords: Using MFA to Make Insuring Your Security Less of a Gamble

Duo's Security Blog

Tune into our upcoming webinar, “ Don’t Bet on Passwords, Use MFA to Insure Your Protection ,” to hear from Wolfgang Goerlich, an advisory CISO at Cisco Secure Access by Duo, an Matt Brooks, a Duo Product Marketing specialist.

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CFOs ignoring billions of dollars loss incurred through Cyber Risks

CyberSecurity Insiders

Chief Financial Officers aka CFOs are ignoring billions of dollars loss incurred through cyber risks and threats, says a survey. So, experts want the CFOs to stay in a loop with the board to understand the risks and severity involved in cyber attacks. Cyber Threats Cyber Risks CFO

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Spotlight on Cybersecurity Leaders: Kip Boyle

SecureWorld News

He helps senior decision makers overcome cybersecurity sales objections and manages unlimited cyber risks through rigorous prioritization. In the private sector, he was a CISO for an insurance company, credit card processor, bank, credit union, and IT Managed Service Provider.

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2023 Cybersecurity Predictions from Marcus Fowler, Darktrace

CyberSecurity Insiders

A look ahead to 2023 we can expect to see changes in MFA, continued Hactivism from non-state actors, CISOs lean in on more proactive security and crypto-jackers will get more savvy. 2 – Continued ‘hacktivism’ from non-state actors complicates cyber attribution and security strategies.

Insurance 101
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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. Cyber Risk Insights Conference 2022 – Oct. PALO ALTO, Calif.–(

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12 Pieces Examining Trends in Cybersecurity for 2023

SecureWorld News

Top 10 Challenges Facing CISOs in 2023 – "While 2022 was certainly no walk in the park, strong cybersecurity investments and institutional support suggest a light at the end of the tunnel. As we turn toward 2023, these will be the top ten challenges facing CISOs in the new year.".

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Safe Security Publishes Results of New Predictive Model, Highlighting the Cyber Exposure of Specific Industries Over the Next 12 Months

CyberSecurity Insiders

–( BUSINESS WIRE )– Safe Security , a global leader in cybersecurity risk quantification and management, today released new findings that will empower CISOs, risk teams, C-Suites, and board members to design and implement an ROI-driven enterprise cyber risk management plan.

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Safety first: Will insurance companies stall or accelerate cybersecurity progress?

SC Magazine

Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. “I believe this to be the next tectonic shift,” said Bryan Hurd, vice president at Aon Cyber Solutions.

Insurance 101
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Ransomware captures attention of business leaders, as losses become real

SC Magazine

FBI’s cyber division personnel in front of a computer screen. In addition, having cyber insurance coverage in place does not guarantee an organization can recoup losses associated with a ransomware attack.

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Local government cybersecurity: 5 best practices

Malwarebytes

Cyber Infrastructure Survey (CIS) : A free assessment of essential cybersecurity practices in-place for critical services. Cyber Resilience Review (CRR) : The CRR assessment evaluates your organization’s operational resilience and cybersecurity practices.

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Challenges and Opportunities of the Cyber Liability Insurance Market

Duo's Security Blog

As an advisory CISO and part of Cisco’s strategy group, an essential part of my role is talking to CISOs from every kind of organization. As well as talking to CISOs, I also believe it is crucial to get perspectives from all sides.

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SecurityScorecard Partners with The National Association of Counties to Improve Cybersecurity Posture of Local Governments Across the U.S.

CyberSecurity Insiders

SecurityScorecard’s platform is now available in the NACo County Tech Xchange , an online portal that connects more than 800 county CIOs, IT directors, CISOs and other county IT leadership.

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Businesses Secretly Pentest Partners as Supply Chain Fears Grow

eSecurity Planet

Howard Taylor, CISO of Radware, goes so far as to call it the “death of trust.” Company reputation is not only of interest to current and potential customers, but it’s also important to market analysts, lenders, and insurance companies. Cybercriminals learn quickly.

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CyberArk Announces Impact 2022: The Identity Security Event of the Year

CyberSecurity Insiders

Merritt Baer, principal, office of the CISO at AWS. NEWTON, Mass. & & PETACH TIKVA, Israel–( BUSINESS WIRE )– CyberArk (NASDAQ: CYBR ), the global leader in Identity Security , today announced the details of CyberArk Impact 2022.

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Annual Reports: How They Warn of Cyber Risk

SecureWorld News

On page 34 of the report, Accenture dives into the risk that cyber poses to the business. The section on cyber risk is in bold: "We face legal, reputational and financial risks from any failure to protect client and/ or Accenture data from security incidents or cyberattacks.".

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#ISC2CONGRESS – Lessons Learned from the Baltimore Ransomware Attack

CyberSecurity Insiders

The city did not have a cyber incident response team (CIRT), or well-defined plans for activating an incident response, or how to handle communication and escalation. Martin R.

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How MFA and Cyber Liability Insurance Effectively Manage Risk in Higher Education

Duo's Security Blog

One area where campuses have been collaborating recently are changes around cyber liability insurance for higher education, an opportunity for campus cybersecurity teams to combine forces with their risk management team.

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Testing to Ensure Your Security Posture Never Slouches

McAfee

Imagine if you had one place where you found a comprehensive real time security posture that tells you exactly where the looming current cyber risks are and the impact? Let’s consider a recent and relevant cyber threat.

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How Information Security Breaks The Classic IT Model

Security Boulevard

Hackers and cyber criminals also read the news. That $3.29, even with cyber insurance, is still a significant hit to the organization’s bottom line. The CISO should be the ultimate authority when reducing cybersecurity operations, personnel, and budgets.