Remove Cyber Insurance Remove Cyber Risk Remove Ransomware Remove Risk
article thumbnail

Insurance and Ransomware

Schneier on Security

As ransomware becomes more common, I’m seeing more discussions about the ethics of paying the ransom. Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. However, the most pressing challenge currently facing the industry is ransomware.

Insurance 329
article thumbnail

CyberSecurity Is Not Enough: Businesses Must Insure Against Cyber Losses

Joseph Steinberg

And even relatively rich organizations may fail altogether if they suffer the reputational harm that follows multiple serious cyber-incidents. Not only are they not protected against their own losses, but many have zero liability protection in the event that they somehow become a hacker’s catalyst for inflicting cyber-damage on others.

Insurance 364
Insiders

Sign Up for our Newsletter

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

article thumbnail

Why MSSPs Must Prioritize Cyber Risk Quantification in 2025

Centraleyes

Have you ever had a client ask, “How much risk are we facing?” They want risk explained in clear, unambiguous terms—and most of all, they want numbers. Cyber Risk Quantification (CRQ) helps MSSPs turn security work into real business value. What Is Cyber Risk Quantification?

article thumbnail

Decline in ransomware claims could spark change for cyber insurance

CSO Magazine

New data highlighting fluctuations relating to ransomware attack and payment claims indicates significant shifts in the cyberthreat landscape. Could such variations trigger changes in the cyber insurance market and, if so, how will they impact insurance carriers and organizations?

article thumbnail

The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

Ransomware attacks have become a significant threat to organizations of all kinds worldwide, with attackers encrypting data and demanding payment for its release. 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.

article thumbnail

Cyber Insurance Premiums Decline as Businesses Boost Security Measures

SecureWorld News

Global cyber insurance premiums are declining despite an uptick in ransomware attacks, according to a recent report by insurance broker Howden. This trend reflects improved business security practices, evolving insurance industry dynamics, and changing attitudes toward cyber risk management.

article thumbnail

Cyber Insurance Costs Soaring: Is Your Organization Covered Enough?

SecureWorld News

In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents. This rapid ascent begs the question: what's driving the price hike, and are businesses fully prepared for the escalating cost of cyber defense?