CyberSecurity Is Not Enough: Businesses Must Insure Against Cyber Losses
Joseph Steinberg
JULY 8, 2021
And even relatively rich organizations may fail altogether if they suffer the reputational harm that follows multiple serious cyber-incidents.
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News Alert: QBE North America launches new cyber insurance program with Converge
The Last Watchdog
JULY 27, 2023
New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyber insurance program with new MGA, Converge, acting as program administrator. The program will be broken down into two separate distribution structures, each with a distinct revenue focus and cyber security data access formation.
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LW ROUNDTABLE: Compliance pressures intensify as new cybersecurity standards take hold
The Last Watchdog
DECEMBER 18, 2024
To mitigate risks, businesses will invest in modern, privacy-enhancing technologies (PETs), such as trusted execution environments (TEEs) and fully homomorphic encryption (FHE). Ehrmann Marielle Ehrmann , Chief Security Compliance & Risk Officer, SAP The convergence of AI and cloud computing is reshaping the regulatory landscape.
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Cyber Insurance: The Good, the Bad, and the Ugly
IT Security Guru
JUNE 28, 2022
The past decade has seen cybersecurity barge its way into the mainstream. A meteoric rise in attack rates during COVID-19 , major incidents such as the Colonial Pipeline attack, and an increasingly tense geopolitical landscape have all contributed to cybersecurity’s current position at the top of global news feeds. It didn’t take off.
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Healthcare Cybersecurity Market Soars: Key Trends and Insights
SecureWorld News
MAY 2, 2025
Healthcare cybersecurity is undergoing explosive growth, reflecting both escalating threats and urgent investments to protect patient data and systems. According to a new report, the global healthcare cybersecurity market was valued at US $21.25 billion in 2024 and is projected to reach $82.90 billion by 2033, at a robust 18.55% CAGR.
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Top 8 Cyber Insurance Companies for 2022
eSecurity Planet
APRIL 22, 2022
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. If your company has not already experienced a significant cybersecurity event, it is probably only a matter of time before it does. million and climbing.
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Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs
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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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks
SecureWorld News
MARCH 20, 2024
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.
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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. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.
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U.S. Treasury, NSF Partner to Bolster Terrorism, Cyber Risk Modeling
SecureWorld News
MAY 1, 2024
Department of the Treasury's Federal Insurance Office (FIO) announced a major new initiative this week to improve the insurance industry's capabilities around modeling and underwriting terrorism and catastrophic cyber risks.
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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.
As market for cyber insurance booms, watchdog calls for better data
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).
How MSPs Help Small Businesses with Essential Cyber Insurance Cover
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.
Innovation in the Fast Lane: Lessons from Motorsport and Cybersecurity
Trend Micro
JUNE 10, 2025
Move faster than your adversaries with powerful purpose-built XDR, cyber risk exposure management, and zero trust capabilities Learn more Extend Your Team Extend Your Team. Respond Faster. Respond Faster.
Annual Reports: How They Warn of Cyber Risk
SecureWorld News
OCTOBER 20, 2021
Cyberrisk is business risk. We hear this at SecureWorld cybersecurity conferences on a regular basis. But how should we communicate this risk to the business, to clients, or to investors? However, we were most interested in seeing how Accenture articulated a particular business risk: the risk from a cyberattack.
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How the ransomware explosion is reshaping the cyber insurance market
SC Magazine
MAY 19, 2021
Today’s special columnist, Scott Register of Keysight Technologies, says government and industry must come together to secure the nation’s critical infrastructure in the wake of the Colonial Pipeline hack. That in itself has evolved, as insurers and insured learn just how expensive that fallout can be.
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Safety first: Will insurance companies stall or accelerate cybersecurity progress?
SC Magazine
FEBRUARY 8, 2021
Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.
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Spotlight on Cybersecurity Leaders: Kip Boyle
SecureWorld News
NOVEMBER 2, 2022
In Q&A format, they share about their professional journeys, unique experiences, and hopes for the future of cybersecurity—along with some personal anecdotes. He helps senior decision makers overcome cybersecurity sales objections and manages unlimited cyber risks through rigorous prioritization. A : I backed into it!
Top 5 Security Trends this Summer: RSA Conference & Black Hat 2022
Webroot
JULY 25, 2022
Here are some of the key trends which we observed at this year’s first marquee cybersecurity event post-pandemic: 1. Most customers alluded to the cybersecurity skills shortage; one of the key market drivers remains a “managed” component tailored to organizations’ response capabilities. Cyber insurance becomes mainstream discussion.
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Cloudflare Helps Businesses Manage Their Cyber Risk; Announces Partnerships with Leading Cyber Insurers and Incident Response Providers
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.
Peer Report Explores Concerns, Challenges Facing Cybersecurity Leaders
SecureWorld News
AUGUST 23, 2023
This morning, Critical Start released its first ever Cyber Risk Landscape Peer Report , which explores some of the major concerns and challenges currently confronting cybersecurity leaders as they manage risk within their organizations. Here are some comments on the cyber risk landscape from cybersecurity vendor experts.
5 Trends to Watch for Cybersecurity in 2023
SecureWorld News
DECEMBER 7, 2022
As the world becomes increasingly reliant on technology, cybersecurity remains a top priority for individuals, businesses, and governments alike. People have been saying that the evolution of AI will be key for cybersecurity, and everything else, for years now. Cybersecurity skills shortage will continue.
Has ESG Become aWake-Up Call for Cybersecurity?
Security Boulevard
AUGUST 22, 2022
Has ESG Become aWake-Up Call for Cybersecurity? Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. These attacks have driven the cost of cyber insurance premiums higher. Access to global talent is still a challenge.
[Q&A] Chubb Cyber Insurance Clients Activate Proactive Security with NetSPI
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?
News Alert: Guardz uncovers new macOS malware – Hidden Virtual Network Computing (hVNC)
The Last Watchdog
AUGUST 1, 2023
1, 2023 – Guardz , the cybersecurity company securing and insuring SMEs, today disclosed the existence of a Hidden Virtual Network Computing (hVNC) malware targeting macOS devices. Tel Aviv, Israel, Aug. Its all-in-one, affordable platform is on guard 24/7, and is easy to use for both in-house IT personnel and MSPs.
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Top VC Firms in Cybersecurity of 2022
eSecurity Planet
APRIL 26, 2022
Achieving funding is no simple task, and cybersecurity entrepreneurs have a difficult path competing in a complex and competitive landscape. Luckily for cybersecurity startups, there’s no shortage of interest in tomorrow’s next big security vendors. Investments in cybersecurity more than doubled from $12 billion to $29.5
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Cyber and Privacy Risks for Real Estate Enterprises
SecureWorld News
JANUARY 31, 2024
Cyber risk is an existential issue for companies of all sizes and in all industries. The integration of technology and automation, and related collection, use, and sharing of information into everyday business practices presents an enormous opportunity for efficiency and precision, especially in the real estate sector.
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Ransomware Attack Hits Carnival Cruise Corporation: What We Know
SecureWorld News
AUGUST 18, 2020
Here is Carnival Corporation's ransomware and cyber incident statement, in full: On August 15, 2020, Carnival Corporation and Carnival plc (together, the "Company," "we," "us," or "our") detected a ransomware attack that accessed and encrypted a portion of one brand’s information technology systems. And if so, how much?
Cybersecurity Insurance is Missing the Risk
Security Boulevard
NOVEMBER 24, 2023
First published by HelpNetSecurity — Matthew Rosenquist Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance.
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Pondurance Launches Cyber Risk Assessments Powered by MyCyberScorecard
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.
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Policy debate: the pros and cons of cybersecurity insurance
BH Consulting
JUNE 22, 2021
Organisations are coming under increasing pressure to take out cybersecurity insurance cover. Also known as cyber risk insurance, it’s now a prerequisite in some public sector tenders. Sometimes, contracts or proposals ask suppliers for both cybersecurity insurance and documented security controls.
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Great American Insurance Group Launches Innovative Cyber Risk Management Platform for Policyholders
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. About SecurityScorecard.
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Seven Massachusetts Cities Join Forces to Bolster Cybersecurity Posture
SecureWorld News
MAY 16, 2023
Seven small coastal towns in Massachusetts have formed a partnership to better tackle their IT and cybersecurity needs in the region. The city has a more established IT setup, including a full-time IT director, which many of the smaller towns lack, according to this Government Technology article. This is a great approach.
Q&A: Why SOAR startup Syncurity is bringing a ‘case-management’ approach to threat detection
The Last Watchdog
MARCH 1, 2019
This, in short, is the multi-headed hydra enterprises must tame in order to mitigate rising cyber risks. Its backers include the Maryland Technology Development Corporation (TEDCO,) and Kluz Ventures. Sutton: SOAR was born out of the gap between what SIEMs were supposed to be and the rising sophistication of cyber threats.
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Risk Management in Higher Education: Top Challenges and Proven Solutions
Centraleyes
MAY 21, 2025
Understanding Risk Management in Higher Education Risk management in higher education institutions involves identifying, assessing, and mitigating risks that could impede the achievement of academic and operational objectives. Top Challenges in Risk Management for Colleges and Universities 1. Regular risk assessments.
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Security Experts Assess 2.0 Draft of NIST Cybersecurity Framework
SecureWorld News
AUGUST 23, 2023
National Institute of Standards and Technology (NIST) released the Initial Public Draft of its Cybersecurity Framework (CSF) version 2.0. For a solid rundown of what the updates mean, check out this SecureWorld article from Kip Boyle , vCISO, Cyber Risk Opportunities LLC. On August 8, 2023, the U.S. 19, Detroit on Sept.
More Than 90% of IT Decision Makers Struggle to Evaluate Security Products
eSecurity Planet
OCTOBER 18, 2022
The vast majority of cybersecurity decision makers – 91 percent, in fact – find it difficult to select security products due to unclear marketing, according to the results of a survey of 800 cybersecurity and IT decision makers released today by email security company Egress. Defense-in-depth or Vendor Sprawl?
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Security Roundup July 2024
BH Consulting
JULY 17, 2024
Curated advice, guidance, learning and trends in cybersecurity and privacy, as chosen by our consultants. MFA is seen as a critical control in reducing the risk of account takeovers. The Register noted that AWS’ move follows Microsoft and Google’s adoption of the technology. MORE Have you signed up to our monthly newsletter?
City of Dallas Vital Services Shut Down in Suspected Ransomware Attack
SecureWorld News
MAY 5, 2023
Broadnax, who said he is optimistic that the risk is contained. Since City of Dallas' Information and Technology Services detected a cyber threat Wednesday morning, employees have been hard at work to contain the issue and ensure continued service to our residents," he said. The article quotes a statement from City Manager T.C.
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To Cover or Not to Cover: The Cyber Liability Insurance Quandary Facing Small- and Medium-Sized Businesses
Duo's Security Blog
DECEMBER 7, 2022
The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories. Security Magazine reports less than 10% of companies with fewer than 50 employees have dedicated financial resources for cybersecurity.
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34 Most Common Types of Network Security Protections
eSecurity Planet
MARCH 17, 2023
Network security is an umbrella term for all facets of your network’s cybersecurity posture, with an emphasis on developing and using policies, procedures, best practices and tools that safeguard every piece of your network’s overall infrastructure.
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Acrisure Broadens Platform with Cyber Services Division
CyberSecurity Insiders
JANUARY 20, 2022
.–( BUSINESS WIRE )–Acrisure, a fast-growing fintech leader that operates a top-10 global insurance broker, announced the formation of Acrisure Cyber Services. Businesses in every industry face complex cyber risk, particularly the millions of small and midsize companies comprising much of Acrisure’s client base.
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BlastWave and Cysurance Roundtable: More Fender Benders, Fewer Totals, and a Smog Test
Security Boulevard
FEBRUARY 8, 2023
Click here to watch the roundtable and learn about the future of cyber insurance from leading experts. In partnership with Cysurance, BlastWave hosted a roundtable entitled “The Future of Cyber Insurance and MSP Insurability. of Morris Risk Management, John Franzino of Grid Security Inc.,
Three takeaways from the Colonial Pipeline attack
SC Magazine
MAY 28, 2021
No, this was not an infection of the operational technology for Colonial Pipeline… but a shutdown resulted nonetheless. Colonial Pipeline also heightened discussion about the influence of ransomware attacks on cyber insurance. The threat or ransomware hit home with Colonial Pipeline, potentially forcing a more holistic response.
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