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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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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Security Boulevard

FEBRUARY 26, 2024

Why insurance matters when considering SEC cyber rule compliance We are still riding high on our recent win at the Cyber Insurance Awards Europe 2024. Axio was recently awarded Cyber Read More The post Making Companies Whole: The Impact of Cyber Insurance on Materiality appeared first on Axio.

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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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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.

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Security Boulevard

DECEMBER 17, 2023

Articles related to cyber risk quantification, cyber risk management, and cyber resilience. The post Developing Industry Loss Curves for Cyber Insurance Using the Crimzon™ Framework | Kovrr Blog appeared first on Security Boulevard.

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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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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.

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SecureWorld News

NOVEMBER 3, 2023

Third, cyber risks are constantly evolving, and insurance companies may not be able to keep up. New threats are emerging all the time, and it can take time for insurance companies to update their policies. This means that there may be some cyber risks that are not covered by your policy.

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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.

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CSO Magazine

OCTOBER 21, 2021

Could such variations trigger changes in the cyber insurance market and, if so, how will they impact insurance carriers and organizations? Learn the 7 keys to better risk assessment. | Get the latest from CSO by signing up for our newsletters. ]. . | Get the latest from CSO by signing up for our newsletters. ].

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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. In addition, the U.S.

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NetSpi Executives

JANUARY 8, 2024

In case you missed it, Chubb, one of the leading publicly traded property and casualty insurance companies, announced an innovative collaboration with NetSPI to strengthen client cyber-risk profiles via enhanced attack surface management and penetration testing solutions. What is proactive security?

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Security Boulevard

JUNE 1, 2022

cyber insurance carriers in 2021 rose 92% year-over-year, largely in response to a surge in ransomware. Cyber risk insurers are also declining coverage to companies with substandard cybersecurity controls, as well as changing the fine print for sublimits to reduce coverage for types of losses one by one.

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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. CFOs also should take part in simulations and training conducted by companies meant to evaluate their cyber security strengths and susceptibilities- as a part of the proactive security approach.

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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.

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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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Security Boulevard

SEPTEMBER 21, 2022

Articles related to cyber risk quantification, cyber risk management, and cyber resilience. The post Are You Buying Too Much Cyber Insurance Coverage? Use CRQ to Find Out appeared first on Security Boulevard.

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CyberSecurity Insiders

DECEMBER 11, 2021

NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it is partnering with leading cyber insurance companies to help businesses manage their risks online. As a result, some insurance companies have had to raise premiums to cover their costs.

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SC Magazine

MAY 24, 2021

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 cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

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Schneier on Security

JULY 1, 2021

Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals. Often, that’s paying the ransom. News article.

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Security Boulevard

JANUARY 9, 2023

Cybersecurity budgets under pressure…regulators tightening risk disclosure rules.breakdown in the cyber insurance market. As 2022 ended, a series of trends lined up that will set the agenda in 2023 for cyber risk and security leaders.

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Dark Reading

AUGUST 8, 2023

More-effective cyber-risk management controls can help bolster a company's policy worthiness. Start with these 10 tips to manage risk as underwriter requirements get more sophisticated.

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Duo's Security Blog

OCTOBER 7, 2022

This is especially true if the company looking for cover hasn’t taken adequate enough steps to minimize cyber risks 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.

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Schneier on Security

FEBRUARY 13, 2019

Zurich Insurance has refused to pay Mondelez International's claim of $100 million in damages from NotPetya. Those turning to cyber insurance to manage their exposure presently face significant uncertainties about its promise. Yet no cyber insurance policies cover this entire spectrum. Mondelez is suing.

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SecureWorld News

OCTOBER 20, 2021

However, we were most interested in seeing how Accenture articulated a particular business risk: the risk from a cyberattack. On page 34 of the report, Accenture dives into the risk that cyber poses to the business. L egal, reputational and financial risks? And that is the end of the section on cyber risk.

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CyberSecurity Insiders

DECEMBER 14, 2021

INDIANAPOLIS–( BUSINESS WIRE )– Pondurance , a leader in Managed Detection and Response (MDR) services, today launched Cyber Risk Assessments powered by MyCyberScorecard. Roadmaps to cyber resilience. Interactive reporting that is easy to export and effectively communicate to senior management. About Pondurance.

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Schneier on Security

FEBRUARY 28, 2024

One possible solution, touted by former Department of Homeland Security Secretary Michael Chertoff on a recent podcast , would be for the federal government to step in and help pay for these sorts of attacks by providing a cyber insurance backstop.

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SC Magazine

MAY 19, 2021

.” While ultimately driven by the bottom line, he still believed the approach to be “good for businesses as, through the insurance process, they will gain better visibility into their cyber risks and measures they can deploy to keep digital operations secure and compliant to data privacy regulations.”.

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SecureWorld News

JANUARY 31, 2024

Cyber risk is an existential issue for companies of all sizes and in all industries. However, it also exposes companies to additional layers of risk. While this is standard practice for addressing liability within the universe of real estate, deliberate and precise actions are required when negotiating cyber insurance coverage.

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CyberSecurity Insiders

JANUARY 24, 2022

CINCINNATI–( BUSINESS WIRE )–Great American Insurance Group recently launched EagleEye? According to Betty Shepherd, Divisional Senior Vice President, Great American Cyber Risk, EagleEye is a valuable loss prevention tool for insureds. Websites: EagleEye.gaig.com. www.SecurityScorecard.com. www.AFGinc.com.

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Security Boulevard

MAY 11, 2022

Buying a cyber risk insurance program can help outsource residual risk, and deploying multi-factor authentication is […]… Read More. The post Multi-Factor Authentication: A Key to Cyber Risk Insurance Coverage appeared first on The State of Security. However, cybersecurity is not bullet-proof.

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The Hacker News

FEBRUARY 14, 2023

From a cyber risk perspective, attacks on data are the most prominent threat to organizations. Regulators, cyber insurance firms, and auditors are paying much closer attention to the integrity, resilience, and recoverability of organization data – as well as

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SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

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The Security Ledger

AUGUST 20, 2019

We talk to Bruce McDonnell of the East West Institute about how insurers are responding. Related Stories Episode 155: Disinformation is a Cyber Weapon and APTs warm to Mobile Malware Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats NotPetya Horror Story Highlights Need for Holistic Security.

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Security Boulevard

NOVEMBER 24, 2023

Variances and unpredictability make insurers nervous. In response to failures to predict claims, insurers have been raising premiums to cover the risk gap. Additionally, upper limits for insurability and various exception clauses are being instituted, which diminish the overall value proposition for customers.

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Dark Reading

OCTOBER 27, 2021

This year's survey features the highest percentage of cyber insurance buyers since the beginning of the survey 11 years ago.

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