Remove Cyber Insurance 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

RSAC Fireside Chat: Operationalizing diverse security to assure customers, partners–and insurers

The Last Watchdog

Related: Getting the most from cyber insurance At RSAC 2025, I met with ESET Chief Security Evangelist Tony Anscombe to trace a quiet but growing convergence: endpoint defense, cyber insurance, and monoculture risk are no longer separate concerns. Cyber insurers want it. MSSPs need it. And what of AI?

Insurance 147
Insiders

Sign Up for our Newsletter

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

article thumbnail

GUEST ESSAY: Cyber insurance 101 — for any business operating in today’s digital environment

The Last Watchdog

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.

article thumbnail

Ransomware Victims That Pay Up Could Incur Steep Fines from Uncle Sam

Krebs on Security

Companies victimized by ransomware and firms that facilitate negotiations with ransomware extortionists could face steep fines from the U.S. While it may seem unlikely that companies victimized by ransomware might somehow be able to know whether their extortionists are currently being sanctioned by the U.S. Image: Shutterstock.

article thumbnail

The Role of Security Frameworks in Determining Cyber Insurance Risks | Apptega

Security Boulevard

Will NYDFS’s Cyber Insurance Framework Set a Precedent for the Cyber Insurance Industry? As ransomware attacks reach unprecedented numbers and the number of record exposures continues to skyrocket, an increasing number of organizations are at risk of attack—and the cyber insurance industry is taking note.

article thumbnail

CyberSecurity Is Not Enough: Businesses Must Insure Against Cyber Losses

Joseph Steinberg

Ironically, while many larger enterprises purchase insurance to protect themselves against catastrophic levels of hacker-inflicted damages, smaller businesses – whose cyber-risks are far greater than those of their larger counterparts – rarely have adequate (or even any) coverage.

Insurance 364
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?