Major Cyber Insurance Overhaul Begins Now
Lohrman on Security
APRIL 9, 2023
From Lloyd’s of London to the new National Cybersecurity Strategy, the future of cyber insurance is evolving fast. What do you need to watch?
Cyber Insurance Market Evolves as Threat Landscape Changes
Security Boulevard
JULY 24, 2024
Taking a risk-based approach to cyber risk and quantifying cyber risk empowers businesses to truly focus on mitigating the risks that really matter. The post Cyber Insurance Market Evolves as Threat Landscape Changes appeared first on Security Boulevard.
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Where Next for Government in the Cyber Insurance Market?
Lohrman on Security
MARCH 13, 2022
Cyber insurance is only getting more expensive, and the market is changing dramatically, with more changes to come. So what trends will drive adoption, rates and the wider future of cyber insurance?
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Cyber Insurance Premiums Decline as Businesses Boost Security Measures
SecureWorld News
JULY 2, 2024
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.
Cyber Insurance Roundup: What’s Happening Now?
Lohrman on Security
NOVEMBER 12, 2023
From the roller-coaster ride in rates to new generative AI uses to dramatic changes in underwriting rules, cyber insurance is evolving fast. Here are some of the latest trends.
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Cyber Insurance: Sexy? No. Important? Critically yes.
Security Boulevard
APRIL 11, 2024
Season 3, Episode 5: Cyber Insurance may not be the sexiest topic, but it’s an important piece of any mature cyber program. The post Cyber Insurance: Sexy? We chatted with a lawyer and a VC who share their perspective. Critically yes. appeared first on Security Boulevard.
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The Seven Things You Need to Know About Cyber Insurance
Security Boulevard
JUNE 16, 2024
Cyber insurance and cybersecurity, when combined, can provide a powerful combination of protection and risk management. The post The Seven Things You Need to Know About Cyber Insurance appeared first on Security Boulevard.
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Examining the Decrease in Cyber Insurance Rates
Security Boulevard
JULY 11, 2024
The cyber insurance market has proven tricky for many companies to navigate. The ongoing rise in cyberattacks, coupled with a lack of extensive historical data, makes it difficult to obtain this important insurance at affordable rates. However, an interesting trend emerged in 2024: cyber insurance premiums decreased.
Negotiate Your Next Cyber Insurance Policy With This 6-Step Playbook
Security Boulevard
JULY 26, 2024
TL;DR: Cyber liability insurance is essential, but premiums are increasing, and numerous exclusions exist. Why Do Organizations Need Cyber Liability Insurance? Cyber liability insurance has become an important component of every organization’s cyber strategy.
Cyber Insurance Costs Soaring: Is Your Organization Covered Enough?
SecureWorld News
JANUARY 11, 2024
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 puts a strain on insurance companies, who are forced to adjust premiums to maintain solvency.
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News Alert: QBE North America launches new cyber insurance program with Converge
The Last Watchdog
JULY 27, 2023
New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyber insurance program with new MGA, Converge, acting as program administrator. The program will be broken down into two separate distribution structures, each with a distinct revenue focus and cyber security data access formation.
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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks
SecureWorld News
MARCH 20, 2024
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. Here, cyber insurance serves as an invaluable safety net by offering essential financial coverage and support services in the event of a ransomware attack occurring.
Cyber insurance as part of the cyber threat mitigation strategy
We Live Security
JUNE 26, 2024
Why organizations of every size and industry should explore their cyber insurance options as a crucial component of their risk mitigation strategies
Cyber Insurance Explained: What It Covers, Who Needs It
Security Boulevard
SEPTEMBER 3, 2023
Cyber insurance offers financial protection and support in the event of a cyber attack, data breach, or other cyber-related incidents. Ironically, the security that insurance brings to policyholders stands in contrast to the shifting, dynamic state of the cyber insurance market in general.
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The MSP’s Role in Cyber Insurance
Security Boulevard
AUGUST 8, 2023
Prioritizing cyber insurance in a comprehensive information security program is a relatively new concept and navigating the process can be confusing. Even insurance companies sometimes have a hard time keeping up with the changing landscape. The post The MSP’s Role in Cyber Insurance appeared first on Security Boulevard.
Organizations are Embracing Cyber Insurance, But It’s Not Easy: Survey
Security Boulevard
JANUARY 25, 2024
The growing number and sophistication of cyberattacks and the financial impact such incidents can have a company’s financial picture are driving more organizations to take out cybersecurity insurance, according to a survey from endpoint management firm Recast Software.
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The Cyber Insurance Landscape Has Grown More Complicated
SecureWorld News
APRIL 17, 2023
When considering adding a cyber insurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyber insurance can help ensure compliance with these requirements. Can companies live without cyber insurance?
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Report: Cyber Insurance Not Driving Ransomware Market
SecureWorld News
AUGUST 1, 2023
One aspect of these cyberattacks that has been hotly debated is the role that cybersecurity insurance plays in these incidents. To better understand the relationship between insurance and ransomware, U.K.-based RUSI's research challenges the notion that cyber insurance is a direct catalyst for ransomware.
MDR Can Make an Impact on Cyber Insurance
Security Boulevard
APRIL 25, 2024
million, according to Sophos Guide to Cyber Insurance, 2023. The post MDR Can Make an Impact on Cyber Insurance appeared first on Pondurance. The post MDR Can Make an Impact on Cyber Insurance appeared first on Security Boulevard. The average cost for a company to recover from a ransomware attack is $1.82
The future of cyber insurance
IT Security Guru
FEBRUARY 28, 2023
Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.
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Avoid high cyber insurance costs by improving Active Directory security
Bleeping Computer
MARCH 19, 2024
With the growing number of data breaches and cyberattacks, insurance premiums are increasing. Learn more from Specops Software about how securing an Activity Directory could lead to lower cyber insurance premiums. [.]
Cyber Insurance Premiums Are Declining Worldwide as Businesses Improve Security, Howden Insurance Broker Report Finds
Tech Republic Security
JULY 4, 2024
Rates have declined by 15% since the market peak in 2022, according to Howden Insurance Brokers.
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Insurance and Ransomware
Schneier on Security
JULY 1, 2021
Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals.
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SMBs and Cyber Insurance – Third Certainty #27
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. Find out more on the latest episode of Third Certainty with Adam Levin.
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Top 8 Cyber Insurance Companies for 2022
eSecurity Planet
APRIL 22, 2022
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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How MOVEit Is Likely to Shift Cyber Insurance Calculus
Dark Reading
OCTOBER 13, 2023
Progress Software plans to collect millions in cyber insurance policy payouts after the MOVEit breaches, which will make getting coverage more expensive and harder to get for everyone else, experts say.
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Cyber War now excluded from Cyber Insurance
CyberSecurity Insiders
FEBRUARY 17, 2022
For all those companies who are planning to renew their cyber insurance policy or are in a procedure to take one, here’s a piece of information that might interest you. Most of the Cyber Insurance companies have excluded ‘Cyber War’ consequences from their policies. that’s insane….isn’t isn’t it? that’s insane….isn’t
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What to consider when shopping for cyber insurance
Tech Republic Security
APRIL 16, 2021
Cyber insurance is gaining favor in the business world. An expert offers tips on how to get what's needed for the best price.
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Cyber Insurance Reduces Risk: Five Ways to Lower Your Rates
Security Boulevard
APRIL 4, 2024
The moment when that dreaded questionnaire from your Cyber Insurer lands on your desk like a ton of digital bricks. The post Cyber Insurance Reduces Risk: Five Ways to Lower Your Rates appeared first on Security Boulevard.
Major Cyber Insurance Overhaul Begins Now
Security Boulevard
APRIL 9, 2023
From Lloyd’s of London to the new National Cybersecurity Strategy, the future of cyber insurance is evolving fast. The post Major Cyber Insurance Overhaul Begins Now appeared first on Security Boulevard. What do you need to watch?
How Data Changes the Cyber-Insurance Market Outlook
Dark Reading
OCTOBER 16, 2023
By using data to drive policy underwriting, cyber-insurance companies can offer coverage without a price tag that drives customers away.
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No Joke: You Can Actually Save Money on Cyber Insurance
Security Boulevard
APRIL 1, 2024
Even on April Fool’s Day, it’s no joke that the astronomical cost of cyber insurance has surged in recent years, reflecting the escalating frequency and severity of cyberattacks.
Cyber Insurance: The Good, the Bad, and the Ugly
IT Security Guru
JUNE 28, 2022
Enter cyber insurance. We insure almost everything – our homes, our cars, even our lives. At first glance, it seems odd that most businesses don’t insure against something as potentially devastating as cybercrime. Unfortunately, transferring traditional insurance models to the cyber-sphere isn’t an easy task.
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Cyber insurance explained and why you need it
CSO Magazine
DECEMBER 1, 2021
Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.
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Making Companies Whole: The Impact of Cyber Insurance on Materiality
Security Boulevard
FEBRUARY 26, 2024
Why insurance matters when considering SEC cyber rule compliance We are still riding high on our recent win at the Cyber Insurance Awards Europe 2024. Axio was recently awarded Cyber Read More The post Making Companies Whole: The Impact of Cyber Insurance on Materiality appeared first on Axio.
GUEST ESSAY: Cyber insurance 101 — for any business operating in today’s digital environment
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.
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Cyber Insurance Prices Continue to Rise
SecureWorld News
APRIL 29, 2022
Cyber insurance is a topic that many industry professionals have an opinion on. No matter what side of the debate you land on, one thing is certain: the cost of cyber insurance has been rising for years and will likely continue to do so. cyber insurance rate changes.
Is it Time to Update Your Cyber Insurance Strategy?
Security Boulevard
FEBRUARY 11, 2021
In 2021, rethinking your cyber insurance strategy should be a top priority for CISOs and executive leadership. The elevated risk landscape is driving growing demand for cyber insurance: Nearly four out of five organizations. The post Is it Time to Update Your Cyber Insurance Strategy?
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Are Cyber Insurers Cybersecurity’s New Enforcers?
Security Boulevard
NOVEMBER 12, 2021
The post Are Cyber Insurers Cybersecurity’s New Enforcers? That means cyberattacks targeting enterprises and individuals are happening at a rate of about one attack every few seconds. The average ransom payment made by a business to. appeared first on Security Boulevard.
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The Comprehensive Value of Investing in Both Cybersecurity and Cyber Insurance
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 post The Comprehensive Value of Investing in Both Cybersecurity and Cyber Insurance appeared first on Security Boulevard.
Cyber Insurance: The Key to Business Resilience in a Risky World
Security Boulevard
JULY 25, 2023
Picture this: your company falls victim to a cyber-attack, resulting in loss of revenue and significant operational downtime. The post Cyber Insurance: The Key to Business Resilience in a Risky World appeared first on Security Boulevard. Do you know what your next steps should be?
Cyber insurer launches InsurSec solution to help SMBs improve security, risk management
CSO Magazine
APRIL 20, 2023
Cyber insurance provider At-Bay has announced the launch of a new InsurSec solution to help small-to-mid sized businesses (SMBs) improve their security and risk management postures through their insurance policy. The emergence of InsurSec technology reflects a cyber insurance landscape that has seen significant change recently.
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7 reasons to avoid investing in cyber insurance
CSO Magazine
FEBRUARY 20, 2023
With cyberattacks rising at an alarming rate around the world, cyber insurance has become an increasingly popular layer of protection for businesses across all sectors.
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Cyber insurance explained and why you need it
CSO Magazine
DECEMBER 1, 2021
Cyber insurance definition. Cyber insurance, also referred to as cyber risk insurance or cyber liability insurance coverage (CLIC), is a policy with an insurance carrier to mitigate risk exposure by offsetting costs involved with damages and recovery after a cyber-related security breach or similar event.
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