article thumbnail

The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network. Here, cyber insurance serves as an invaluable safety net by offering essential financial coverage and support services in the event of a ransomware attack occurring.

article thumbnail

Cyber Insurance Costs Soaring: Is Your Organization Covered Enough?

SecureWorld News

Cybersecurity threats are a growing menace, wreaking havoc on businesses and individuals alike. In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

[Q&A] Chubb Cyber Insurance Clients Activate Proactive Security with NetSPI

NetSpi Executives

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?

article thumbnail

Top 8 Cyber Insurance Companies for 2022

eSecurity Planet

Cyberattacks are not only a technological problem for companies, but they also represent a very real financial threat. That’s where cyber insurance may be able to help. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage.

article thumbnail

CFOs ignoring billions of dollars loss incurred through Cyber Risks

CyberSecurity Insiders

Chief Financial Officers aka CFOs are ignoring billions of dollars loss incurred through cyber risks and threats, says a survey. Interestingly, over 87% of survey respondents are over-confident that their companies can overcome any level of threats, although their current Cybersecurity posture was never tested to the core.

article thumbnail

Work from home increases Cyber Threats on Enterprises

CyberSecurity Insiders

Cyber Threats have increased on enterprise networks and all thanks to the latest trend of work from home that is being practiced by most of the firms operating across the globe to prevent the spread of Corona Virus. The post Work from home increases Cyber Threats on Enterprises appeared first on Cybersecurity Insiders.