IT Security Guru
FEBRUARY 28, 2023
Cyber insurers are losing money. The insurance sector is battling its losses by increasing premiums – which have gone up by some 94% between 2019 and 2022 – creating the artificial impression that the sector is growing. How is cyber insurance changing?
CyberSecurity Insiders
AUGUST 26, 2022
Lloyd’s London, one of the largest insurance services providers in the world, has disclosed that it is making amendments to its cyber insurance laws that will come into effect from March 2023. All insurance companies exclude the risks inferred from war like situations.
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eSecurity Planet
MAY 27, 2021
The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers.
CyberSecurity Insiders
FEBRUARY 17, 2022
For all those companies who are planning to renew their cyber insurance policy or are in a procedure to take one, here’s a piece of information that might interest you. Most of the Cyber Insurance companies have excluded ‘Cyber War’ consequences from their policies.
Cisco Security
SEPTEMBER 28, 2022
The concern raised is that this sort of attack will produce losses that the market cannot absorb. Most insurance policies already include provisions that exclude the consequences of armed conflict. Applying these to potential cyber warfare is a logical step.
The Hacker News
NOVEMBER 9, 2022
The rise in the costs of data breaches, ransomware, and other cyber attacks leads to rising cyber insurance premiums and more limited cyber insurance coverage.
CyberSecurity Insiders
AUGUST 15, 2022
Ever wondered what is covered and what is not in your Cyber Insurance Policy? If not, you better review the guidelines and inform all your C-level employees on strategies to cope with the losses that remain out of the cyber insurance cover. Education cyber insurance
CyberSecurity Insiders
APRIL 1, 2021
CyberCube, a cyber analytics firm, claims that the rise in cyber-attacks on Microsoft servers could also increase cyber insurance claims filed by many companies. . Cyber Attack Brown University
Malwarebytes
JULY 10, 2022
Without cyber insurance , you can expect to pay a dizzying amount of cash. Indeed, with liability limits ranging from $1 million to $5 million or more, cyber insurance policies can cover a good chunk of the damage caused by a data breach. How is cyber insurance priced?
IT Security Guru
JUNE 28, 2022
A meteoric rise in attack rates during COVID-19 , major incidents such as the Colonial Pipeline attack, and an increasingly tense geopolitical landscape have all contributed to cybersecurity’s current position at the top of global news feeds. Enter cyber insurance.
CyberSecurity Insiders
MARCH 18, 2021
After the SolarWinds cyber attack on Govt infrastructure, the government of United States seems to have taken Cybersecurity as a top priority to rectify any flaws that could make way to any future cyber attacks in the future. News cyber insurance New York
CyberSecurity Insiders
NOVEMBER 15, 2022
Cyber Insurance premiums are becoming dearer and the reason for such a rise is claimed to be sophistication in attacks that are making mitigation and recovery expensive. So, is the trend of rising insurance costs going to be witnessed in the coming years?
Lohrman on Security
JANUARY 8, 2023
There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage
Security Affairs
APRIL 22, 2022
When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. When security fails, cyber insurance can become crucial for ensuring continuity.
SecureWorld News
MAY 26, 2021
New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year.
CyberSecurity Insiders
DECEMBER 9, 2021
Lloyd’s of London Insurance, simply known as Lloyd’s Insurance, has released a media update that it will no longer cover losses that were incurred because of cyber wars among nations. Cyber Attack Lloyds cyber insurance
SecureWorld News
SEPTEMBER 10, 2020
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. Cyber insurance works.
Thales Cloud Protection & Licensing
MAY 10, 2022
Checklist for Getting Cyber Insurance Coverage. As cyber criminals mature and advance their tactics, small and medium businesses become the most vulnerable because they lack the capacity – staff, technology, budget - to build strong cyber defenses. Cyber War.
SecureWorld News
DECEMBER 27, 2022
Cyber is the risk to watch, according to a Financial Times article in which insurer Zurich's top executive is quoted. What will become uninsurable is going to be cyber,” said Mario Greco, CEO at Zurich, one of Europe's biggest insurance companies, in the Dec.
CyberSecurity Insiders
APRIL 23, 2021
Microsoft Exchange Server Cyber Attack- Cyber Threat actors somehow infiltrated the email servers of Microsoft Exchange operating across the world through a vulnerability and accessed data of many government and private companies. Cyber Attack Cyber Attacks 2021
Duo's Security Blog
OCTOBER 7, 2022
Cyber security is a concern for companies of all sizes, but can be particularly significant for smaller businesses who are less likely to have the dedicated technical staff in place to ensure the right controls are in place to protect them. Small business cyber insurance: Is it really needed?
Security Affairs
DECEMBER 28, 2022
The chief executive of insurance giant Zurich warns that cyber attacks, rather than natural catastrophes, will become uninsurable. Mario Greco, chief executive of insurer giant Zurich, has warned that cyber attacks will become soon “uninsurable.”.
Security Boulevard
JANUARY 8, 2023
There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage? The post Are Cyber Attacks at Risk of Becoming ‘Uninsurable’? appeared first on Security Boulevard. Security Bloggers Network
SC Magazine
JUNE 28, 2021
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.
Javvad Malik
AUGUST 22, 2022
Lloyds of London has told its members to exclude nation state cyber attacks from insurance policies beginning in 2023, saying they pose unacceptable levels or risk. So who will decide whether an attack is a nation state or just little Timmy trying to impress his friends on the Discord channel? Knowing how most other forms of insurance works, the burden of proof may lie on the victim to prove that the attack wasn’t a nation state attacker.
Security Boulevard
AUGUST 25, 2022
announced that it will require its underwriters, globally, “to exclude catastrophic state-backed hacks from stand-alone cyber insurance policies” starting in March 2023. This elimination of cyber policies involving nation-state adversaries is not surprising.
SC Magazine
MAY 24, 2021
In a report released May 20, the Government Accountability Office looked at how the private cybersecurity insurance market has developed over the past five yearsRich Baich is global chief information security officer for insurance giant AIG.
Security Boulevard
MARCH 3, 2021
Read article > The post Will Your Insurance Policies Step in After a Cyber-Attack? The post Will Your Insurance Policies Step in After a Cyber-Attack? Security Bloggers Network Blog Posts Cyber Risk Insurance
Security Boulevard
JULY 30, 2022
Staying Ahead of the Distortion of a Cyber Attack? Each firewall, IDS, MFA, and email security is built to protect and stop cyber attacks. Given this fact, businesses should note the growing number of security issues and cyber threats.
CyberSecurity Insiders
OCTOBER 24, 2022
The education sector is increasingly vulnerable to simple and sophisticated cyber threats, and higher learning is especially vulnerable. 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. Freshly on the heels of this cyber security nightmare, the Albuquerque school system was breached.
CyberSecurity Insiders
APRIL 19, 2021
Hiscox Cyber Readiness Report 2021 states that most of the German firms are vulnerable to cyber attacks and are topping the list of the study group with a loss tally of $48 million. Gareth Wharton, the CEO of Hiscox, said that cyber attacks are turning complex.
Malwarebytes
JANUARY 26, 2022
Due to the evolving and growing impact of cybersecurity incidents there are some questions starting to arise about the way that insurance companies deal with the costs that are the results of such incidents. But cyber insurance comes in different flavors and sizes.
Security Affairs
APRIL 30, 2019
Aluminum producer Norsk Hydro estimated the cost of the massive attack cyber attack targeting the company in March at around $50 million. Dollar losses due to the NotPetya ransomware massive attack. Back to nowadays, in mid-March Global aluminum producer Norsk Hydro was hit by a “massive” cyber attack that impacted operations in several of the company’s business areas across Europe and the U.S.
Security Boulevard
JUNE 8, 2021
By Sam Jones | Cyber Tec Security. It’s important to remember, however, as we slowly transition back into some semblance of normality, that there will be new challenges to face in all facets of life, and the Cyber Security sector is no exception. CTO, Cyber Tec Security.
eSecurity Planet
OCTOBER 18, 2021
A lawsuit working its way through the courts could have a lot to say about the liabilities facing organizations that have been hit by ransomware attacks – and could have implications for cybersecurity preparation and regulation in general. ” Cyber Insurance No Longer Reliable.
Security Boulevard
MAY 11, 2022
Cyber-attacks are becoming more sophisticated and devastating, especially for small and medium enterprises (SMEs). With ransom demands rising and the cost of data breaches soaring, businesses are investing heavily in building their cyber defenses.
CyberSecurity Insiders
DECEMBER 6, 2022
Someone in IT places a phone call and gets asked whether the company has cyber insurance. Your IR plan should contain the contact information for everyone who might be needed, from your service providers to key employees to outside counsel to, yes, the insurance provider.
Security Affairs
JANUARY 14, 2019
Zurich American Insurance Company is refusing to refund its client because consider the attack as “an act of war” that is not covered by its policy. The US food giant Mondelez is suing Zurich for $100 Million after the insurance company rejected its claim to restore normal operations following the massive NotPetya ransomware attack. According to the cyber security community, NotPetya is a cyber weapon develped by Russia to hit the Ukrainian government.
CyberSecurity Insiders
SEPTEMBER 21, 2021
As soon as we hear or read about a ransomware attack on a company, we are in a state of mind that the business needs to pay only the ransom in order to avoid a loss to its data continuity on a permanent loss. Ransomware Cyber Attack Ransomware Attack costs
SecureWorld News
AUGUST 25, 2021
How am I protecting my organization from an attack? What will our insurance cover? As ransomware attacks have spiked in the last year, a common theme for many organizations is that the attack was the result of failed cybersecurity. Nor is it an improbable cyber Armageddon.
Security Boulevard
FEBRUARY 8, 2023
Click here to watch the roundtable and learn about the future of cyber insurance from leading experts. In partnership with Cysurance, BlastWave hosted a roundtable entitled “The Future of Cyber Insurance and MSP Insurability.
Schneier on Security
MARCH 26, 2020
Interesting article discussing cyber-warranties, and whether they are an effective way to transfer risk (as envisioned by Ackerlof's "market for lemons") or a marketing trick. Our preliminary analysis suggests the majority of cyber warranties cover the cost of repairing the device alone.
CyberSecurity Insiders
SEPTEMBER 13, 2022
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.
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