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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.

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Cyber Insurance and the Changing Global Risk Environment

Security Affairs

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. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

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Top Cyber Attacker Techniques, August–October 2024

Digital Shadows

The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. Enterprises should prioritize patching software and adopt a risk-based approach, focusing on vulnerabilities with the greatest potential impact.

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MSPs: Becoming the Trusted Cyber Insurance Advisor

Duo's Security Blog

In its modern iteration, cyber liability insurance mitigates the losses and business costs associated with cyber incidents and resulting downtime. CyberCube, a company specializing in quantifying cyber risk, estimates that the U.S. standalone cyber insurance market could reach $45 billion in premiums by 2034.

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26 Cyber Security Stats Every User Should Be Aware Of in 2024

Security Affairs

26 key cyber security stats for 2024 that every user should know, from rising cyber crime rates to the impact of AI technolog y. Cyber Crime Surge: During COVID-19 , cyber crimes shot up by 600%, showing how threats adapt to global changes. Phishing Attacks: Phishing is the top cyber attack, causing 90% of data breaches.

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Zurich refuses to pay Mondelez for NotPetya damages because it’s ‘an act of war’

Security Affairs

On the other side, Mondelez was requesting the payment of a policy that was promising to conver “ all risks of physical loss or damage ” as well as “ physical loss or damage to electronic data, programs, or software, including loss or damage caused by the malicious introduction of a machine code or instruction.”

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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

A shift from legacy, perimeter-focused network defenses to dynamic, interoperable defenses at the cloud edge, directed at ephemeral software connections, must fully play out. These emergent software and hardware advances will pave the way for factoring in quantum computers. Leadership should prioritize cybersecurity at all levels.