Remove Cyber Insurance Remove Cyber Risk Remove Government Remove Technology
article thumbnail

U.S. Treasury, NSF Partner to Bolster Terrorism, Cyber Risk Modeling

SecureWorld News

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.

article thumbnail

Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

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.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Cyber Insurance Premiums Suddenly Surging

SecureWorld News

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.

article thumbnail

As market for cyber insurance booms, watchdog calls for better data

SC Magazine

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).

article thumbnail

Annual Reports: How They Warn of Cyber Risk

SecureWorld News

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.

article thumbnail

How the ransomware explosion is reshaping the cyber insurance market

SC Magazine

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.

article thumbnail

Top 5 Security Trends this Summer: RSA Conference & Black Hat 2022

Webroot

Threat intelligence solutions using AI/ ML technologies can prevent false positives and reduce alert fatigue – helping cybersecurity professionals focus on strategic priorities instead of spending all their time reacting to security alerts and potential incidents. Cyber insurance becomes mainstream discussion. million.