Schneier on Security

JANUARY 25, 2022

The insurance company Ace American has to pay for the losses: On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute. Merck suffered US$1.4 Merck suffered US$1.4

Insurance 179

Insurance Cyber Attacks Government Malware 179

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. Insurers Assessing Risks.

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Cyber Insurance Insurance Cyber Attacks Ransomware 128

Security Boulevard

MARCH 3, 2021

In this part of the blog series on the connection between cybersecurity and insurance, we go through a real-life situation that demonstrates how insurance policies may or may not provide you the necessary coverage in the event of a cyber-attack. A Standalone Cyber Insurance Policy Isn’t Enough As discussed in our previous blog, a.

Insurance 105

Insurance Cyber Attacks Cyber Insurance Cybersecurity 105

IT Security Guru

FEBRUARY 28, 2023

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.

Cyber Insurance 114

Cyber Insurance Insurance Marketing Cyber Risk 114

Security Affairs

JANUARY 6, 2024

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 billion insurance claim for the losses caused by the NotPetya attack that took place in 2017. Merck had not taken out specific insurance to cover cyber attacks, it only had insurance coverage against general risks.

Insurance 114

Insurance Manufacturing Ransomware Healthcare 114

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. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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Cyber Insurance Insurance Risk Technology 84

SecureWorld News

APRIL 17, 2023

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. Can companies live without cyber insurance?

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Cyber Insurance Insurance Risk CISO 95

The Last Watchdog

JULY 13, 2023

London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. Yet, boardroom focus on cyber risk appears to be diminishing. trillion by 2025, a 300% increase since 2015 1.

Cyber Risk 189

Cyber Risk Risk Insurance Energy and Utilities 189

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.”. These people can severely disrupt our lives.”

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Cyber Attacks Cyber Insurance Insurance Cyber Risk 92

Cytelligence

OCTOBER 18, 2023

Cyber threats have become a significant concern for businesses of all sizes. The cost of cyber attacks, including financial losses, reputational damage, and legal consequences, can be staggering. To mitigate these risks, businesses often invest in cyber insurance. This is where CYPFER comes in.

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Cyber Insurance Insurance Passwords Cyber Attacks 64

CyberSecurity Insiders

JUNE 21, 2023

Going forward, let us list out the victims who have been impacted by the attack after the hack-ers gained control of Moveit file transfer software worldwide, a business unit of Progress Software. The post List of victimized companies of MOVEit Cyber Attack appeared first on Cybersecurity Insiders.

Cyber Attacks 137

Cyber Attacks Retail Insurance Healthcare 137

IT Security Guru

JUNE 28, 2022

Enter cyber insurance. We insure almost everything – our homes, our cars, even our lives. At first glance, it seems odd that most businesses don’t insure against something as potentially devastating as cybercrime. Unfortunately, transferring traditional insurance models to the cyber-sphere isn’t an easy task.

Cyber Insurance 135

Cyber Insurance Insurance Small Business Marketing 135

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. Maintain a senior management and board approved cyber insurance risk strategy. ·

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Cyber Insurance Insurance Cyber Risk Financial Services 111

CyberSecurity Insiders

MAY 26, 2021

A team of experts from the cyber arm of Congress is busy studying the costs involved when the critical infrastructure is targeted by cyber attacks. The post Congress to review Federal Cyber Terrorism Risk Insurance Program appeared first on Cybersecurity Insiders.

Insurance 78

Insurance Risk Cyber Insurance Cyber Attacks 78

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. This cyber insurance situation increases risks for organizations struggling to find coverage or facing steep increases.

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Cyber Insurance Insurance Data breaches Cyber Attacks 77

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. However, cybersecurity is not bullet-proof.

Cyber Risk 52

Cyber Risk Insurance Authentication Risk 52

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. The necessity for cyber-insurance coverage.

Cyber Insurance 77

Cyber Insurance Insurance Cyber Risk Authentication 77

Security Boulevard

AUGUST 30, 2022

Lloyd's Backs Off Insurance for State-Sponsored Cyberattacks. Cyber related businesses are ‘evolving risk’. issued a market bulletin dated August 16, 2022 setting out new rules for standalone cyber-attack policies that would exclude coverage for damages from state-sponsored attacks. brooke.crothers.

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Insurance Cyber Attacks Government Marketing 95

CyberSecurity Insiders

SEPTEMBER 12, 2022

Currently, there is zero evidence that the data has been misused or compromised and claimed that the info of its 2030 employees was safe and risk free. If in case a breach occurs, businesses should notify victims of what type of data was exposed, risks involved and actions taken to help prevent and mitigate the risks from the company side.

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Data breaches Cyber Attacks Identity Theft Banking 114

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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Cyber Risk Risk Cyber Insurance Insurance 131

Security Boulevard

AUGUST 9, 2021

In the face of mounting cyber attacks, many organizations look to mitigate their risk through insurance. But what is cyber liability insurance exactly? The post What Is Cyber Liability Insurance? The post What Is Cyber Liability Insurance? appeared first on JumpCloud.

Insurance 58

Insurance Cyber Attacks Risk Government 58

CyberSecurity Insiders

FEBRUARY 4, 2021

An analysis by the Risk Based Security data related to millions of customers might have accessed by hackers from a MySQL Databases exposing around 91 sensitive database, accounting to 22GB. The post Data of US Car company leaked in a Cyber Attack appeared first on Cybersecurity Insiders.

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Cyber Attacks Insurance Scams Accountability 142

SecureWorld News

DECEMBER 4, 2023

Fidelity National Financial (FNF), one of the largest title insurance providers in the United States, announced on November 21 that it fell victim to a sophisticated cyberattack. Disruptions to real estate transactions: Cyberattacks can disrupt real estate transactions, causing delays, cancellations, and title insurance claims.

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Cyber Attacks Insurance Ransomware Cyber threats 93

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. Photo by Spencer Platt/Getty Images).

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Cyber Insurance Insurance Marketing Cyber Risk 94

SecureWorld News

DECEMBER 5, 2023

The NCUA regulates and insures these financial orgs. 'I I can confirm that approximately 60 credit unions are currently experiencing some level of outage due to a ransomware attack at a third-party service provider,' the NCUA spokesperson said. federal agency.

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Cyber Attacks Insurance Ransomware Cybersecurity 97

Security Boulevard

JANUARY 25, 2022

The insurance company Ace American has to pay for the losses: On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute. Merck suffered US$1.4 Merck suffered US$1.4

Insurance 52

Insurance Cyber Attacks Software Risk 52

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. Growing losses from ransomware attacks have…emphasized that the current reality is not sustainable for insurers either.

Cyber Insurance 136

Cyber Insurance Insurance Ransomware Marketing 136

Duo's Security Blog

OCTOBER 7, 2022

In this blog, we explain why it makes sense for these firms to work with managed service providers (MSPs) to help bolster their security posture and increase their chances of getting cyber liability insurance cover as insurers continue to raise the bar. Small business cyber insurance: Is it really needed?

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Small Business Cyber Insurance Insurance Cyber Risk 71

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. cyber insurance market.

Cyber Insurance 56

Cyber Insurance Insurance Cyber Risk Marketing 56

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. The number one type of cyber incident so far this year is ransomware.

Cyber Insurance 54

Cyber Insurance Insurance Ransomware Cyber Attacks 54

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. A company’s loss of control over its business practices may lead to various risks, which cybercrim­inals quickly exploit. Until next week, John.

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Cyber Attacks Artificial Intelligence Education Cyber Insurance 109

Duo's Security Blog

JUNE 9, 2022

From these conversations, it is clear cyber liability insurance is steadily rising to the top of the agenda, due to the sheer amount and scale of cyber-attacks hitting firms. So how do insurers get hold of that kind of insight? Here are my key takeaways.

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Insurance Marketing CISO Cyber Insurance 65

The Hacker News

JULY 6, 2023

As technology advances and organizations become more reliant on data, the risks associated with data breaches and cyber-attacks also increase. The introduction of data privacy laws, such as the GDPR, has made it mandatory for organizations to disclose breaches of personal data to those affected.

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Cyber Insurance Insurance Data privacy Data breaches 88

eSecurity Planet

FEBRUARY 11, 2022

Risk management is a concept that has been around as long as companies have had assets to protect. The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. What is Cybersecurity Risk Management? Setting Up Your Risk Management System.

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Risk Cybersecurity Encryption Technology 144

The Last Watchdog

AUGUST 12, 2019

From Atlanta to Baltimore to school districts in Louisiana, cyber criminals have launched a wave of ransomware attacks on governments across the country. A 2018 study by the Ponemon Institute showed that 67 percent of SMBs experienced a cyber attack. It is not of a matter of “if” but “when.”

Cyber Attacks 147

Cyber Attacks Small Business Government Insurance 147

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. Researchers who conducted the survey concluded after gauging six key cyber security areas related to people, technology and processes.

Cyber Attacks 69

Cyber Attacks Cyber Insurance Insurance Cyber threats 69

Thales Cloud Protection & Licensing

AUGUST 3, 2021

Protecting Medical Data Against a Cyber-Attack Pandemic. Cyber criminals are always eager to take advantage of emergencies to further launch their nefarious actions. Besides dealing with the public health pandemic, healthcare providers must deal with another pandemic: cyber-attacks. An expanding attack surface.

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Cyber Attacks Healthcare IoT Encryption 87