This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
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 cyberinsurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. In addition, the U.S.
When considering adding a cyberinsurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyberinsurance can help ensure compliance with these requirements. Let's break it down to the pros and cons.
Checklist for Getting CyberInsurance 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. The necessity for cyber-insurance coverage.
Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyberinsurance are when a business experiences a cyberattack and when they hear about other companies being hit by a cyberattack.
This is especially true if the company looking for cover hasn’t taken adequate enough steps to minimize cyberrisks itself. As I covered in my other blog — Cyber Liability Insurance Essentials for Small and Medium-Sized Enterprises — there are several approaches firms can take to increase their chances of obtaining a policy.
The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. High-privileged accounts enhance attackers’ ability to access unauthorized data, potentially causing databreaches and operational disruptions.
While leveraging cyber-liability insurance has become an essential component of cyber-risk mitigation strategy, cyber-liability offerings are still relatively new, and, as a result, many parties seeking to obtain coverage are still unaware of many important factors requiring consideration when selecting a policy.
Cyber-attacks are becoming more sophisticated and devastating, especially for small and medium enterprises (SMEs). With ransom demands rising and the cost of databreaches soaring, businesses are investing heavily in building their cyber defenses. However, cybersecurity is not bullet-proof.
Cyberattackers escalate and adapt quickly, which undermines the historical-based models that insurance companies rely on. Attackers are continually shifting their maneuvers that identify victims, cause increasing loss, and rapidly shift to new areas of impact. Variances and unpredictability make insurers nervous.
The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. High-privileged accounts enhance attackers’ ability to access unauthorized data, potentially causing databreaches and operational disruptions.
Breach and Attack Simulation Product Guide Top 20 Breach and Attack Simulation (BAS) Vendors Penetration Testing Penetration testing is a tried-and-true method of cyberattack simulation. This kind of software helps companies to clearly define policies and how they relate to compliance postures.
The 2019 Cybersecurity Almanac published by Cisco and Cybersecurity Ventures predicts that cyber events will cost $6 trillion annually by 2021, as companies are digitizing most of their processes and are often operating remotely. Global cyberinsurance premiums are expected to grow from $4 billion in 2018 to $20 billion by 2025.
Cyberinsurers 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 cyberrisk a potentially uninsurable area due to falling profitability.
Most traditional tools used for investigating cyberattacks cannot assess potential impacts on these environments. With graph-based analytics into existing relationships, the startup’s solutions help visualize prospective attack routes so clients can prioritize sensitive remediation within their cloud stack. Cowbell Cyber.
Cybersecurity can often feel like a game of cat and mouse where cyberattackers and defenders engage in a chase, with one party trying to outsmart the other. Just like in previous years, 2024 is set to test practitioners’ skills as the frequency of cyber threats continues to surge leaving no room for complacency.
We organize all of the trending information in your field so you don't have to. Join 28,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content