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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Security Boulevard

JULY 14, 2022

A survey of 400 global insurers finds the cyber insurance business “isn’t working for insurers, brokers or their customers.” The post Survey Shows Cyber Insurance Marketplace Badly Needs Risk Quantification appeared first on Security Boulevard.

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SecureWorld News

AUGUST 1, 2023

-based Royal United Services Institute (RUSI) for Defence and Security Studies conducted an extensive 12-month research project , which aimed to examine the role of cyber insurance in addressing the threats posed by ransomware. RUSI's research challenges the notion that cyber insurance is a direct catalyst for ransomware.

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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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Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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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. As a result, it’s difficult to gauge how at risk an organisation is. It didn’t take off.

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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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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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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.

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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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Security Boulevard

MARCH 15, 2022

With the cyber threat landscape showing no sign of becoming less risky, many businesses want to transfer some of their risk to cyber insurance providers. In fact, by 2020, 78% of corporate risk managers bought some type of cyber insurance coverage for their company. The post What is Cyber Insurance?

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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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Dark Reading

AUGUST 29, 2022

Businesses need to re-evaluate their cyber-insurance policies as firms like Lloyd's of London continue to add restrictions, including excluding losses related to state-backed cyberattackers.

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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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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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Digital Guardian

FEBRUARY 10, 2021

With the world in flux and cybercrime an increasingly pervasive threat, cyber insurance has seen rapid adoption. How can a cyber insurance plan be effective? NYDFS has released a new framework to help.

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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.

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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. This cyber insurance situation increases risks for organizations struggling to find coverage or facing steep increases.

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CSO Magazine

DECEMBER 6, 2022

As the frequency and severity of ransomware, phishing, and denial of service attacks has increased, so has demand for cyber insurance. billion in direct written premiums were recorded in 2021, a 61% increase over the prior year, according to an October 2022 memorandum from the National Association of Insurance Commissioners.

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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. The necessity for cyber-insurance coverage.

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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 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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NetSpi Executives

JANUARY 8, 2024

In case you missed it, Chubb, one of the leading publicly traded property and casualty insurance companies, announced an innovative collaboration with NetSPI to strengthen client cyber-risk profiles via enhanced attack surface management and penetration testing solutions. What is proactive security?

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Cytelligence

OCTOBER 18, 2023

The cost of cyber attacks, including financial losses, reputational damage, and legal consequences, can be staggering. To mitigate these risks, businesses often invest in cyber insurance. By creating strong passwords, businesses can significantly reduce the risk of unauthorized access and potential data breaches.

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CyberSecurity Insiders

MARCH 18, 2021

After the SolarWinds cyber attack on Govt infrastructure, the government of United States seems to have taken Cybersecurity as a top priority to rectify any flaws that could make way to any future cyber attacks in the future. Maintain a senior management and board approved cyber insurance risk strategy. ·

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CyberSecurity Insiders

AUGUST 26, 2022

Lloyd’s London, one of the largest insurance services providers in the world, has disclosed that it is making amendments to its cyber insurance laws that will come into effect from March 2023. All insurance companies exclude the risks inferred from war like situations.

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Dark Reading

MAY 26, 2021

From limiting claims payments to tying payments to policyholders' actions, the cyber insurance industry is in "a very dynamic place right now," says Corvus Insurance CEO Phil Edmundson.

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eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

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Lohrman on Security

JANUARY 8, 2023

There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage?

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Security Boulevard

DECEMBER 17, 2023

Articles related to cyber risk quantification, cyber risk management, and cyber resilience. The post Developing Industry Loss Curves for Cyber Insurance Using the Crimzon™ Framework | Kovrr Blog appeared first on Security Boulevard.

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CSO Magazine

APRIL 27, 2021

Organizations will face significant challenges in purchasing, renewing, and benefitting from cyber insurance policies this year as various factors drive the sector towards a stricter, more specialized position, global specialists in law, risk, and cybersecurity predict.

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Security Boulevard

DECEMBER 7, 2022

The post Demystifying Cyber Insurance: 7 Key Security Controls Every Organization Should Have appeared first on Security Boulevard. 7 Key Security Controls Every Organization Should Have. .

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CSO Magazine

JUNE 2, 2021

I recently had to renew the cyber insurance policy for the office and it was interesting to see the evolution of questions asked over the years. At first, most of the cyber insurance questions involved basic computer security and merely checked to see if we had firewalls and antivirus and not much else.

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CSO Magazine

OCTOBER 21, 2021

Could such variations trigger changes in the cyber insurance market and, if so, how will they impact insurance carriers and organizations? Learn the 7 keys to better risk assessment. | Get the latest from CSO by signing up for our newsletters. ]. Shifting ransomware priorities impacting claim costs.

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Dark Reading

JUNE 16, 2022

Cyber insurance is more than a policy for paying off ransomware gangs. It's designed to be something you transfer risk to when security controls fail.

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Security Boulevard

JUNE 1, 2022

cyber insurance carriers in 2021 rose 92% year-over-year, largely in response to a surge in ransomware. Cyber risk insurers are also declining coverage to companies with substandard cybersecurity controls, as well as changing the fine print for sublimits to reduce coverage for types of losses one by one.

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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. However, in practice, it is still yet to be seen if cyber insurance can fulfil this promise.”.

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