Major Cyber Insurance Overhaul Begins Now
Lohrman on Security
APRIL 9, 2023
From Lloyd’s of London to the new National Cybersecurity Strategy, the future of cyber insurance is evolving fast. What do you need to watch?
Cyber Insurance Related Topics 
Where Next for Government in the Cyber Insurance Market?
Lohrman on Security
MARCH 13, 2022
Cyber insurance is only getting more expensive, and the market is changing dramatically, with more changes to come. So what trends will drive adoption, rates and the wider future of cyber insurance?
Cyber Insurance 
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The Cyber Insurance Landscape Has Grown More Complicated
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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The future of cyber insurance
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.
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Major Cyber Insurance Overhaul Begins Now
Security Boulevard
APRIL 9, 2023
From Lloyd’s of London to the new National Cybersecurity Strategy, the future of cyber insurance is evolving fast. The post Major Cyber Insurance Overhaul Begins Now appeared first on Security Boulevard. What do you need to watch?
Cyber insurer launches InsurSec solution to help SMBs improve security, risk management
CSO Magazine
APRIL 20, 2023
Cyber insurance provider At-Bay has announced the launch of a new InsurSec solution to help small-to-mid sized businesses (SMBs) improve their security and risk management postures through their insurance policy. The emergence of InsurSec technology reflects a cyber insurance landscape that has seen significant change recently.
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7 reasons to avoid investing in cyber insurance
CSO Magazine
FEBRUARY 20, 2023
With cyberattacks rising at an alarming rate around the world, cyber insurance has become an increasingly popular layer of protection for businesses across all sectors.
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'Skinny' Cyber Insurance Policies Create Compliance Path
Dark Reading
MARCH 8, 2023
It's getting hard to buy cyber insurance, but not having it is not always an option. Low-coverage plans could bridge the gap.
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The Comprehensive Value of Investing in Both Cybersecurity and Cyber Insurance
Security Boulevard
MARCH 15, 2023
With ransomware attacks, social engineering, and data breaches at an all-time high, terms like “cybersecurity” and “cyber insurance” are being thrown around in conversation more than ever before. The post The Comprehensive Value of Investing in Both Cybersecurity and Cyber Insurance appeared first on Security Boulevard.
Re-Focusing Cyber Insurance with Security Validation
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 War now excluded from Cyber Insurance
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. that’s insane….isn’t isn’t it? that’s insane….isn’t
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Cyber Insurance: The Good, the Bad, and the Ugly
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. Cybersecurity professionals remain divided as to the future of cyber insurance.
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The Future of Cyber Insurance
Dark Reading
FEBRUARY 25, 2022
Having cyber insurance is a good idea if the costs make sense — it could be the difference between going out of business and staying afloat. But it shouldn't be your first course of action.
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Cyber insurance explained and why you need it
CSO Magazine
DECEMBER 1, 2021
Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.
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4 ways businesses can save money on cyber insurance
Malwarebytes
JULY 10, 2022
Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.
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SMBs and Cyber Insurance – Third Certainty #27
Adam Levin
SEPTEMBER 7, 2020
With the average cost of a data breach exceeding three million dollars, cyber insurance has become a necessity for SMBs. The post SMBs and Cyber Insurance – Third Certainty #27 appeared first on Adam Levin. Find out more on the latest episode of Third Certainty with Adam Levin.
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How to Optimize Your Cyber Insurance Coverage
Dark Reading
FEBRUARY 8, 2023
From prevention and detection processes to how you handle policy information, having strong cyber insurance coverage can help mitigate cybersecurity attacks.
What you should know when considering cyber insurance in 2023
CSO Magazine
DECEMBER 6, 2022
As the frequency and severity of ransomware, phishing, and denial of service attacks has increased, so has demand for cyber insurance. billion in direct written premiums were recorded in 2021, a 61% increase over the prior year, according to an October 2022 memorandum from the National Association of Insurance Commissioners.
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What to consider when shopping for cyber insurance
Tech Republic Security
APRIL 16, 2021
Cyber insurance is gaining favor in the business world. An expert offers tips on how to get what's needed for the best price.
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Cyber-Insurance Fail: Most Businesses Lack Ransomware Coverage
Dark Reading
AUGUST 11, 2022
Even among businesses with cyber insurance, they lack coverage for basic costs of many cyberattacks, according to a BlackBerry survey.
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The Merck appeal: cyber insurance and the definition of war
CSO Magazine
MAY 5, 2023
In a separate yet parallel case involving multinational food and beverage company Mondelez International and Zurich American Insurance , a settlement was also reached, missing the opportunity to have a telling effect and adjustment on how cyber insurance will be treated going forward.
BrandPost: Improving Cyber Insurance Coverage with Microsoft Security
CSO Magazine
FEBRUARY 21, 2023
But enterprise cybersecurity is a team sport involving multiple players—encompassing everything from technology vendors to cyber insurance providers and cyber defense platforms. Keep reading for our top takeaways from the event, and click here to watch the full webinar recording. To read this article in full, please click here
Are Cyber Insurers Cybersecurity’s New Enforcers?
Security Boulevard
NOVEMBER 12, 2021
The post Are Cyber Insurers Cybersecurity’s New Enforcers? That means cyberattacks targeting enterprises and individuals are happening at a rate of about one attack every few seconds. The average ransom payment made by a business to. appeared first on Security Boulevard.
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Cyber insurance explained and why you need it
CSO Magazine
DECEMBER 1, 2021
Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.
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Cyber Insurance Prices Continue to Rise
SecureWorld News
APRIL 29, 2022
Cyber insurance is a topic that many industry professionals have an opinion on. No matter what side of the debate you land on, one thing is certain: the cost of cyber insurance has been rising for years and will likely continue to do so. cyber insurance rate changes.
Top 8 Cyber Insurance Companies for 2022
eSecurity Planet
APRIL 22, 2022
That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks.
What is not included in a Cyber Insurance Policy
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. Otherwise, the cyber insurer will not offer any policy coverage.
Preparing for Cyber Insurance? 6 Questions to Ask Your IT Team Today
Security Boulevard
OCTOBER 1, 2022
No wonder the cyber insurance market is expected to grow at a compound average rate of almost 25 percent […]. The post Preparing for Cyber Insurance? The post Preparing for Cyber Insurance? If these companies – with their large, dedicated cybersecurity teams – are vulnerable, so is every other company.
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Is it Time to Update Your Cyber Insurance Strategy?
Security Boulevard
FEBRUARY 11, 2021
In 2021, rethinking your cyber insurance strategy should be a top priority for CISOs and executive leadership. The elevated risk landscape is driving growing demand for cyber insurance: Nearly four out of five organizations. The post Is it Time to Update Your Cyber Insurance Strategy?
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Demystifying Cyber Insurance: 7 Key Security Controls Every Organization Should Have
Security Boulevard
DECEMBER 7, 2022
The post Demystifying Cyber Insurance: 7 Key Security Controls Every Organization Should Have appeared first on Security Boulevard. 7 Key Security Controls Every Organization Should Have. .
Cyber insurance explained: What it covers and why prices continue to rise
CSO Magazine
DECEMBER 1, 2021
Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.
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Checklist for Getting Cyber Insurance Coverage
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.
Survey Shows Cyber Insurance Marketplace Badly Needs Risk Quantification
Security Boulevard
JULY 14, 2022
A survey of 400 global insurers finds the cyber insurance business “isn’t working for insurers, brokers or their customers.” The post Survey Shows Cyber Insurance Marketplace Badly Needs Risk Quantification appeared first on Security Boulevard.
What is Cyber Insurance? Here’s Everything You Need to Know
Security Boulevard
MARCH 15, 2022
With the cyber threat landscape showing no sign of becoming less risky, many businesses want to transfer some of their risk to cyber insurance providers. In fact, by 2020, 78% of corporate risk managers bought some type of cyber insurance coverage for their company. The post What is Cyber Insurance?
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Cyber-Insurance Firms Limit Payouts, Risk Obsolescence
Dark Reading
AUGUST 29, 2022
Businesses need to re-evaluate their cyber-insurance policies as firms like Lloyd's of London continue to add restrictions, including excluding losses related to state-backed cyberattackers.
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Premium for Cyber Insurance has soared over the past few years
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. Most companies are showing laxity in following basic cyber security hygiene, leading to a surge in cyber-attacks and data breaches.
The Role of Security Frameworks in Determining Cyber Insurance Risks | Apptega
Security Boulevard
OCTOBER 13, 2021
Will NYDFS’s Cyber Insurance Framework Set a Precedent for the Cyber Insurance Industry? As ransomware attacks reach unprecedented numbers and the number of record exposures continues to skyrocket, an increasing number of organizations are at risk of attack—and the cyber insurance industry is taking note.
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A Quick Guide for Small Cybersecurity Teams Looking to Invest in Cyber Insurance
The Hacker News
OCTOBER 19, 2022
In the world of insurance providers and policies, cyber insurance is a fairly new field. And with what time will they spend researching how to integrate cyber insurance into their strategy? And many security teams are trying to wrap their heads around it. What is it and do they need it?
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Four years after NotPetya, cyber insurance is still catching up
CSO Magazine
APRIL 21, 2021
Faced with increasing payouts and a likely storm of litigation around the recent SolarWinds and Microsoft Exchange server compromises, cyber insurers are facing an “existential battle” for their future, a leading cybersecurity researcher and privacy consultant has warned.
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Lloyd’s excluding nation-state cyber attacks from Cyber Insurance
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. The post Lloyd’s excluding nation-state cyber attacks from Cyber Insurance appeared first on Cybersecurity Insiders.
Cyber Insurance and the Changing Global Risk Environment
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. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.
How Cyber Insurance Drives DevSecOps
Security Boulevard
FEBRUARY 9, 2022
Insurers are aware that third-party software is being targeted, which is driving up insurance rates, says Rob Beeler, CTO and cofounder of Trava Security. The post How Cyber Insurance Drives DevSecOps appeared first on Security Boulevard.
Tackling the New Cyber Insurance Requirements: Can Your Organization Comply?
The Hacker News
FEBRUARY 7, 2023
With cyberattacks around the world escalating rapidly, insurance companies are ramping up the requirements to qualify for a cyber insurance policy. Ransomware attacks were up 80% last year, prompting underwriters to put in place a number of new provisions designed to prevent ransomware and stem the record number of claims.
BrandPost: Is Cyber Insurance an Invitation to Cybercriminals?
CSO Magazine
MARCH 22, 2022
As ransomware attacks and cybercrime have skyrocketed over the past few years, some organizations are feeling compelled to purchase cyber insurance , which is designed to cover the costs resulting from a successful cyberattack.
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