IT Security Guru
FEBRUARY 28, 2023
Cyber insurers are losing money. The insurance sector is battling its losses by increasing premiums – which have gone up by some 94% between 2019 and 2022 – creating the artificial impression that the sector is growing. How is cyber insurance changing?
Adam Levin
SEPTEMBER 7, 2020
With the average cost of a data breach exceeding three million dollars, cyber insurance has become a necessity for SMBs. The post SMBs and Cyber Insurance – Third Certainty #27 appeared first on Adam Levin.
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eSecurity Planet
APRIL 22, 2022
That’s where cyber insurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 Cyber Insurance is Booming. domiciled insurers and alien surplus lines insurers writing business in the U.S.,
Security Boulevard
MARCH 15, 2023
With ransomware attacks, social engineering, and data breaches at an all-time high, terms like “cybersecurity” and “cyber insurance” are being thrown around in conversation more than ever before.
The Hacker News
NOVEMBER 9, 2022
The rise in the costs of data breaches, ransomware, and other cyber attacks leads to rising cyber insurance premiums and more limited cyber insurance coverage.
Security Boulevard
NOVEMBER 23, 2022
As organizations around the globe grapple with the consequences of data breaches, MSSPs have a unique opportunity to help their clients build and manage mature security programs and employ other necessary protections to keep their businesses safe.
Malwarebytes
JULY 10, 2022
So, your business has just suffered a data breach and it’s time to dig deep in your pockets to pay all the resulting expenses. Without cyber insurance , you can expect to pay a dizzying amount of cash. Here are four ways your business can save money on its insurance.
CyberSecurity Insiders
NOVEMBER 15, 2022
Cyber Insurance premiums are becoming dearer and the reason for such a rise is claimed to be sophistication in attacks that are making mitigation and recovery expensive. So, is the trend of rising insurance costs going to be witnessed in the coming years?
Security Boulevard
OCTOBER 1, 2022
The list of companies that have experienced data breaches in 2022 continues to grow, including Meta, Samsung, Twilio, Twitter, Uber and more. No wonder the cyber insurance market is expected to grow at a compound average rate of almost 25 percent […].
Security Boulevard
JUNE 29, 2022
That’s no surprise really, especially when considering that data breaches exposed some 36 billion records in the first half of 2020 alone. The post Cyber Insurance Requirements: How to Maintain Your Policy appeared first on Security Boulevard.
Graham Cluley
MARCH 22, 2021
A member of the REvil ransomware gang claims that the group specifically targets firms who have taken our cyber insurance. And what's more, it will hack insurance firms to identify them. Data loss Malware Ransomware data breach insurance ransomware Revil Travelex
Tech Republic Security
NOVEMBER 26, 2019
Cyber insurance can help protect your organization from the financial costs associated with data breaches. Learn the details to decide if it's the right fit for your company
Graham Cluley
MARCH 28, 2021
Insurance firm CNA Hardy says that it has suffered a “sophisticated cybersecurity attack” that has impacted its operations, including its email system. Data loss Malware Ransomware data breach Evil Corp insurance Phoenix Locker ransomware
Thales Cloud Protection & Licensing
MAY 10, 2022
Checklist for Getting Cyber Insurance Coverage. As cyber criminals mature and advance their tactics, small and medium businesses become the most vulnerable because they lack the capacity – staff, technology, budget - to build strong cyber defenses. Data security.
The Last Watchdog
JANUARY 20, 2020
To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities. Some coverage is inherently added to any cyber insurance policy.
Graham Cluley
MAY 20, 2021
Data loss Malware Ransomware CNA data breach insurance ransomwareYes, you read that correctly. FORTY MILLION DOLLARS.
Duo's Security Blog
OCTOBER 7, 2022
Cyber security is a concern for companies of all sizes, but can be particularly significant for smaller businesses who are less likely to have the dedicated technical staff in place to ensure the right controls are in place to protect them. Small business cyber insurance: Is it really needed?
SC Magazine
MARCH 24, 2021
Insurance firm CNA Financial, a prominent provider of cyber insurance, confirmed a cyberattack against its systems, which has some concerned that cybercriminals may target policyholders. Data Breach Ransomware Security News BreachThe CNA Center in Chicago.
CyberSecurity Insiders
DECEMBER 6, 2022
–( BUSINESS WIRE )–Specialty insurer HSB today announced an agreement with IronSDN, Corp., to add app-based cyber risk management tools to HSB’s coverage for consumers and their families. Cyber Protection at Home and Away. HARTFORD, Conn.–(
SC Magazine
JUNE 28, 2021
The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI.
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. Insurance is, therefore, always needed. CyberSecurity cyber insurance cyber liability insurance risk management
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.
Security Boulevard
AUGUST 2, 2021
Recently, IBM came out with its Cost of a Data Breach Report 2021. This publication synthesizes the Ponemon Institute’s research of 537 breaches that affected 17 different industries and that occurred across 17 countries and regions.
Heimadal Security
JULY 5, 2021
A September 2020 AJG data breach has been reported by the company itself, affecting a number of the insurance company’s systems. Customer data stored on the compromised systems might have been leaked or stolen in a ransomware attack that happened on the 26th of September 2020.
Security Boulevard
JULY 26, 2021
First there was the SolarWinds breach and now a massive attack has hit the Microsoft Exchange server, also leading to the release [.]. The post Cybersecurity Insurers Are Putting an End to the ‘Pass the Buck’ Era appeared first on TechSpective.
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. Each has reported—or worse have been discovered to have—extremely sensitive customer data stored on cloud servers that were not properly secured.
Adam Levin
AUGUST 26, 2019
The data breach of Capital One was big news, but it was also a familiar story: a major financial company with the budget and means to secure its data didn’t bother to do so, and the personal information of over a hundred million of its customers and applicants was exposed. The discovery, announcement, and subsequent arrest of the alleged perpetrator all happened within a week of the FTC’s settlement with Equifax for its own 2017 mega-breach.
SC Magazine
JULY 13, 2021
million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 Malicious cyberattacks caused the majority of these security incidents, accounting for 73% of all breaches.
Security Boulevard
MAY 11, 2022
Cyber-attacks are becoming more sophisticated and devastating, especially for small and medium enterprises (SMEs). With ransom demands rising and the cost of data breaches soaring, businesses are investing heavily in building their cyber defenses.
Malwarebytes
JANUARY 26, 2022
Due to the evolving and growing impact of cybersecurity incidents there are some questions starting to arise about the way that insurance companies deal with the costs that are the results of such incidents. But cyber insurance comes in different flavors and sizes.
Security Affairs
JUNE 5, 2020
ST Engineering is the last victim of the Maze Ransomware operators that published their data on their leak website. The Maze ransomware operators announced the release of stolen data on their leak site.
Krebs on Security
AUGUST 29, 2019
PerCSoft , a Wisconsin-based company that manages a remote data backup service relied upon by hundreds of dental offices across the country, is struggling to restore access to client systems after falling victim to a ransomware attack. Cloud data and backup services are a prime target of cybercriminals who deploy ransomware. In July, attackers hit QuickBooks cloud hosting firm iNSYNQ , holding data hostage for many of the company’s clients.
Duo's Security Blog
MAY 23, 2022
Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%.
Krebs on Security
JULY 24, 2018
Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. National Bank said the first breach began Saturday, May 28, 2016 and continued through the following Monday. Following the 2016 breach, National Bank hired cybersecurity forensics firm Foregenix to investigate.
Security Affairs
APRIL 24, 2022
Breaking News data breach Hacking hacking news information security news IT Information Security malware Newsletter Pierluigi Paganini Security Affairs Security NewsA new round of the weekly Security Affairs newsletter arrived!
SC Magazine
FEBRUARY 8, 2021
Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Still unclear is whether this will serve the cybersecurity community well, or distort strategies to protect data and networks.
CSO Magazine
JANUARY 24, 2023
CSI), followed by data breaches (23%), ransomware (20%) and a breach at a third party (15%). US financial institutions see peer-to-peer fraud and other digital fraud as the biggest cybersecurity concern in 2023.
SC Magazine
JULY 2, 2021
An exterior view of the Anthem Health Insurance headquarters. About 80 million company records were accessed in one of the largest health care data breaches. Accordingly, you can expect to continue to see providers give fairly vague breach notifications.”
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.
Joseph Steinberg
AUGUST 5, 2021
Likewise, the complexity of cybersecurity and of evaluating related risks has also translated into many insurance companies seeking to insure only large enterprises – the cost of doing business with small and medium sized business is simply not worth their time.
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.
Joseph Steinberg
AUGUST 5, 2021
Understanding the difference between the two is also essential when seeking to obtain – and when acquiring – cyber-liability insurance. First-party cyber-liability risks refer to risks that directly endanger an organization.
SecureWorld News
AUGUST 18, 2020
Securities and Exchange Commission, notifying the SEC of the data breach. Hackers exfiltrated (removed) some data. The unauthorized access also included the download of certain of our data files. We've seen this repeatedly, where stolen data is used as leverage.
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