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Lloyd’s excluding nation-state cyber attacks from Cyber Insurance

CyberSecurity Insiders

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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Cyber War now excluded from Cyber Insurance

CyberSecurity Insiders

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. that’s insane….isn’t isn’t it? .

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The Cyber Insurance Landscape Has Grown More Complicated

SecureWorld News

When considering adding a cyber insurance 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 cyber insurance can help ensure compliance with these requirements. Is it required?

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Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

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. In addition, the U.S.

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Cyber attacks on Microsoft Exchange Email Servers could surge up cyber insurance claims  

CyberSecurity Insiders

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. . The post Cyber attacks on Microsoft Exchange Email Servers could surge up cyber insurance claims appeared first on Cybersecurity Insiders.

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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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Checklist for Getting Cyber Insurance Coverage

Thales Cloud Protection & Licensing

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. The necessity for cyber-insurance coverage.