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.

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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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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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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).

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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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Schneier on Security

FEBRUARY 28, 2024

After Merck filed its $700 million claim, the pharmaceutical giant’s insurers argued that they were not required to cover the malware’s damage because the cyberattack was widely attributed to the Russian government and therefore was excluded from standard property and casualty insurance coverage as a “hostile or warlike act.”

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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? That's where the fine print comes in.

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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. The post How the ransomware explosion is reshaping the cyber insurance market appeared first on SC Media.

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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.

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SecureWorld News

MARCH 28, 2024

Department of Homeland Security (DHS) is set to implement long-awaited rules that will require critical infrastructure entities across multiple sectors to report cyber incidents and ransomware payments to the federal government. Jose Seara, CEO of DeNexus, welcomed the convergence of cybersecurity mandates across government agencies.

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Webroot

JULY 25, 2022

Cyber insurance becomes mainstream discussion. As cyberattacks have become more costly and more challenging to track, cyber insurance has gained prominence across the industry. The cyber insurance market is expected to reach around $20B by 2025. million.

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CyberSecurity Insiders

MARCH 25, 2021

Department for Digital, Culture, Media and Sport (DCMS) of UK conducted the survey and came to the above stated conclusion that shows how relaxed are businesses for cyber security. And sometimes cyber criminals are using email services to trick employees into making fraudulently large financial transfers via new business deals or contracts.

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Security Boulevard

AUGUST 22, 2022

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. Cyber insurance has become more critical to organizations to help offset the risk to the company.

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SecureWorld News

NOVEMBER 2, 2022

He helps senior decision makers overcome cybersecurity sales objections and manages unlimited cyber risks through rigorous prioritization. In the private sector, he was a CISO for an insurance company, credit card processor, bank, credit union, and IT Managed Service Provider. See the conference agenda and register here.

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SC Magazine

FEBRUARY 10, 2021

The Cybersecurity and Infrastructure Security Agency (CISA) recently included security ratings or scoring as part of its cyber risk reduction initiative. The Cybersecurity and Infrastructure Security Agency (CISA) recently included security ratings or scoring as part of its cyber risk reduction initiative.

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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.

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SC Magazine

FEBRUARY 8, 2021

But when it comes to cybersecurity coverage, the relationship between enterprises and insurers has been rocky and uncertain. And in a few high-profile cases, insurance companies have bailed. The relationship between enterprises and insurers, like the cyber insurance market itself, is evolving. A maturing model.

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SecureWorld News

DECEMBER 7, 2022

As the world becomes increasingly reliant on technology, cybersecurity remains a top priority for individuals, businesses, and governments alike. Cyber insurance trends in 2023. If cyberattacks continue to rise, then the cyber insurance market will continue to evolve and change in order to meet the needs of policyholders.

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SecureWorld News

MAY 16, 2023

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. Municipal governments must share data with counties, state agencies, and even some federal systems. This is a great approach. The question isn't if they'll get hit but when."

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SecureWorld News

MAY 5, 2023

Darren Guccione, CEO and Co-Founder at Keeper Security, had this to say about the Dallas attack: "This egregious cyberattack is an example of the pervasive threat that predatory cybercriminals pose to everyone from multinational businesses to local governments. He will also present at the May 18 event on "Cybersecurity Really Is a Team Sport."

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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. Are there policies and procedures in place to ensure good governance of information security? Questions to ask your insurer.

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Insurance Cybersecurity Cyber Insurance Cyber Risk 83

SC Magazine

MAY 28, 2021

The shutdown of operations of Colonial Pipeline captured the attention of the security community, government and consumers that suddenly couldn’t fill their gas tanks. That then begs the question of government’s role. Colonial Pipeline also heightened discussion about the influence of ransomware attacks on cyber insurance.

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SecureWorld News

AUGUST 23, 2023

For a solid rundown of what the updates mean, check out this SecureWorld article from Kip Boyle , vCISO, Cyber Risk Opportunities LLC. Michael Gregg, CISO, State of North Dakota: " One of the things that most excites me about the new framework is the addition of the 'govern' function. 19, Detroit on Sept. Stacy O'Mara, Sr.

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SC Magazine

JULY 13, 2021

The attacks on our nation’s critical infrastructures, which includes our hospital systems, has resulted in government agencies showing a renewed focus on cybersecurity.”. Lastly, the report warns entities not to rely on cyber insurance as the rates have skyrocketed in response to the rise in ransomware attacks.

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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. iBynd also has a first-of-its-kind Personal Cyber Insurance offering that it delivers directly to consumers through CyberInsurancePlus.com. Cyberattacks can even kill businesses.

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The Security Ledger

OCTOBER 23, 2018

In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. 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.

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Insurance Cyber Risk Risk Cyber Insurance 40

Joseph Steinberg

AUGUST 5, 2021

While leveraging cyber-liability insurance has become an essential component of cyber-risk mitigation strategy, cyber-liability offerings are still relatively new, and, as a result, many parties seeking to obtain coverage are still unaware of many important factors requiring consideration when selecting a policy.

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Centraleyes

APRIL 15, 2024

This approach helps streamline compliance and provides a more cost-effective path for security, compliance, and governance initiatives. Better Rates in Cyber Insurance Cyber liability insurance costs depend on your cyber risks. In the long run, there’s no question about the cost-benefit.

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Architecture Authentication Risk Insurance 52

Pen Test

OCTOBER 10, 2023

Ransomware exploded into greater prominence over the last decade with high-profile attacks on hospitals, city governments, and large corporations. Identify cyber insurance policies and ensure they align to business needs regarding ransomware attacks and data leaks. Have notification procedures and press releases ready.

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Ransomware Backups Insurance Cyber Insurance 52

eSecurity Planet

MARCH 17, 2023

Governance, Risk, and Compliance Product Guide Top 10 GRC Tools & Software Security Information and Event Management (SIEM) Security information and event management (SIEM) technology is used to compile event data logs from a network’s various devices, applications, software, and endpoints.

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CyberSecurity Insiders

DECEMBER 18, 2022

Cyber attribution and deciphering the extent of state-level tasking is difficult, with blurred lines between state-aligned, state-involved and state-directed increasing the risk of escalation, collateral and misattribution. 5 – Recession requires CISOs to get frank with the board about proactive security.

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Cisco Security

MARCH 22, 2022

But according to Anne Neuberger, the White House’s Deputy National Security Adviser for Cyber and Emerging Technology, this warning is “based on evolving threat intelligence, that the Russian government is exploring options for potential cyberattacks on critical infrastructure in the United States.”. Cyber insurance is not the answer!

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Jane Frankland

DECEMBER 7, 2023

Critical infrastructure, such as energy grids and transportation systems, will be targeted, posing risks to national security and economic stability. Geopolitical tensions also foster information warfare and cyber espionage, compromising the security of governments, businesses, and individuals.

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Adam Levin

MARCH 26, 2020

Cyber insurance is still evolving, and as such you can still get good deals even if your cybersecurity is not completely up to snuff. At some point that will be a question that cyber insurers will think about 24/7, solutions evolving alongside challenges and underwriting calculations following close behind.

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Adam Levin

MARCH 2, 2020

As bad as the ransomware scourge was for businesses, local governments arguably had it worse. Businesses, individuals, governments, and organizations alike can become savvier about the threat, understand the scope of the problem, and prepare for it. If your company already has cyber insurance coverage, consider increasing it.

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eSecurity Planet

JANUARY 11, 2022

Open Raven analyzes data at rest, classifies inventory, and automates data governance as these become critical capabilities for the hybrid infrastructure’s security posture. JupiterOne helps aggregate cyber assets for central visibility and faster investigations with increasing complexity in security operations and assurance.

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Cybersecurity Threat Detection Artificial Intelligence Risk 142

eSecurity Planet

APRIL 26, 2022

Company Sector Year Status Vicarius Vulnerability management 2022 Private Dragos ICS and OT security 2021 Private Safeguard Cyber Risk management 2021 Private CyberGRX Risk management 2019 Private Signifyd Fraud protection 2018 Private RedOwl Security analytics 2015 Acquired: Forcepoint. AllegisCyber Investments.

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