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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.

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Top 8 Cyber Insurance Companies for 2022

eSecurity Planet

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks.

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Cyber Insurance and the Changing Global Risk Environment

Security Affairs

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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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.

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Zurich chief warned that cyber attacks will become uninsurable

Security Affairs

With the increase in the number of cyber attacks, a growing number of organizations opted to transfer the cyber risk by underwriting cyber insurance. SecurityAffairs – hacking, Zurich). The post Zurich chief warned that cyber attacks will become uninsurable appeared first on Security Affairs.

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Has ESG Become aWake-Up Call for Cybersecurity?

Security Boulevard

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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2023 Cybersecurity Predictions from Marcus Fowler, Darktrace

CyberSecurity Insiders

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.