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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

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. For example, the healthcare sector, a prime target for these types of attacks , planned to spend $125 billion to defend against breaches from 2020 to 2025.

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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.

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

SC Magazine

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

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Ransomware: Number One Cyber Insurance Claim

SecureWorld News

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. These industries include consumer businesses, healthcare, and financial services.

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Exploring the Cost of a Data Breach and Its Implications

Centraleyes

The top five countries and regions for the highest average cost of a cyber security breach in 2023 were as follows: the US ($9.4 Uneven Impact on Industries The healthcare sector bears the heaviest burden, with an average cloud data breach cost of $10.10 million), technology ($4.97 million), the Middle East ($8.07

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CynergisTek Announces 3-Year Contract With Leading Medical System Resulting in Highest Annual Bookings in 3 Years

CyberSecurity Insiders

This alliance will allow the healthcare system to reduce its risk of a cyber-attack and help them achieve its cybersecurity goals. “We The cost of these cyber events is rising sharply with cyber insurance premiums and compliance requirements increasing. About CynergisTek, Inc.

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The Ongoing Cyber Threat to Critical Infrastructure

Thales Cloud Protection & Licensing

Reducing the risk of attacks such as ransomware and malware on CNI will be of paramount importance to the stability of nation states for years to come. For many organizations, paying the ransom can be less damaging than risking any additional impacts. The Threat of Ransomware.