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That’s where cyberinsurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage. million and climbing.
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? That's where the fine print comes in.
.” 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 cyberrisks and measures they can deploy to keep digital operations secure and compliant to dataprivacy regulations.”.
The relationship between enterprises and insurers, like the cyberinsurance market itself, is evolving. There isn’t just one force leading this shift, and although cyberinsurance is going to continue to be more commonplace, there are other actors in this story,” said Eddy Bobritsky, CEO at Minerva Labs.
The Cybersecurity and Infrastructure Security Agency (CISA) recently included security ratings or scoring as part of its cyberrisk reduction initiative. The Cybersecurity and Infrastructure Security Agency (CISA) recently included security ratings or scoring as part of its cyberrisk reduction initiative.
Data protection and privacy newsround: AI Act’s reach and very personal data Good news – maybe? – for anyone who’s been working in dataprivacy roles since 2018: you ain’t seen nothing yet. It’s a timely reminder of the ‘person’ in ‘personal data’.
In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyberinsurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat.
Frequent SecureWorld speaker and PLUS Course instructor Shawn Tuma , Co-Chair of the DataPrivacy and Cybersecurity Practice at Spencer Fane, LLP, gives this commentary on the situation in Dallas: "This is a horrible event that will surely impact the lives of many people, and unfortunately it has become a fact of life in today's times.
Tuma often finds himself in the middle of ransomware incident response as Co-Chair of the DataPrivacy & Cybersecurity Practice at law firm Spencer Fane. Ransomware: one of your organization's top risks. Now, here is a crucial question: does your organization treat cyberrisk like it is business risk?
Ethyca is compliance -focused as regulatory enforcement becomes an essential part of dataprivacy. With Ethyca, clients get a bundle of tools for privacy by design in the development process. Cowbell Cyber. Startup Est Headquarters Staff Funding Funding Type Ethyca 2018 New York, NY 44 $27.5
The proliferation of IoT devices and sensors will accelerate, allowing organisations to collect and leverage data for improved operational efficiency and real-time monitoring. CyberInsurance In 2024, the cyberinsurance landscape is expected to undergo significant changes.
In this blog, I’m exploring these changes, grouped under key categories that I’ve used in previous years, to help business leaders and cyberrisk owners better prepare for the evolving landscape. CyberInsuranceCyberinsurance will become an essential component of risk management strategies.
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