Security Boulevard

MARCH 3, 2023

Cowbell this week added a free 24/7 managed security service for organizations that take out a cyberinsurance policy to help reduce the cost of a cybersecurity breach. The post Cowbell Adds Free Cybersecurity Services for Insurance Policy Holders appeared first on Security Boulevard.

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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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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. Tom Kang, CEO, Converge, added, “We’re thrilled to partner with QBE North America given their experience and reputation in the cyber insurance market.

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SecureWorld News

JANUARY 11, 2024

Cybersecurity threats are a growing menace, wreaking havoc on businesses and individuals alike. In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents. 6 billion by 2033, according to a recent report from Market.us

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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.

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Schneier on Security

MARCH 8, 2019

This will complicate things: To complicate matters, having cyber insurance might not cover everyone's losses. Zurich American Insurance Company refused to pay out a $100 million claim from Mondelez, saying that since the U.S.

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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.

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Security Boulevard

JUNE 21, 2022

Is Cyber Breach Insurance part of your Cybersecurity roadmap? Is Cyber Breach Insurance part of your Cybersecurity roadmap? The post Is Cyber Breach Insurance part of your Cybersecurity roadmap? The post Is Cyber Breach Insurance part of your Cybersecurity roadmap? first appeared on SecureFLO.

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Security Boulevard

FEBRUARY 28, 2023

Cybersecurity insurance has long existed and rescued businesses from the consequences of online risks and attacks. While it becomes more of a necessity for businesses, the rapid increase of cyberattacks and ransomware gradually spirals into an unattractive business for insurers. The post Where’s Cybersecurity Insurance Going?

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Security Boulevard

MARCH 17, 2023

The post The Small Business Fallacy – Why You Need Cybersecurity and Insurance More Than Ever appeared first on Security Boulevard. A common misconception of small business owners is that they can fly under the radar when it comes to ransomware, social engineering, and other cyberattacks. But it turns out that the opposite is true.

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CSO Magazine

JUNE 14, 2023

With an ever-increasing number of cybersecurity threats and attacks, companies are becoming motivated to protect their businesses and customer data both technically and financially. The global cyber insurance market was valued at $13.33 million — more than twice the global average of $4.35 billion in 2023 to $84.62 billion by 2030.

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Dark Reading

MARCH 30, 2023

Risk reassessment is shaking up the cybersecurity insurance market, leading some organizations to consider their options, including self-insurance.

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Schneier on Security

APRIL 12, 2018

Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. In my new book -- out in September -- I write: There are challenges to creating these new insurance products. There are two basic models for insurance.

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CyberSecurity Insiders

DECEMBER 26, 2022

Insurance companies like Lloyd offer cyber insurance policies that cover a business from facing a business loss during a cyber-attack. However, in coming days, cyber attacks will become uninsurable, as per Mario Greco, the Chief of Zurich Insurance. So, will cyber insurance vanish with time? isn’t it? .

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Joseph Steinberg

OCTOBER 24, 2022

An online cybersecurity event with 2,500 people already logged in had to be cancelled after suspected cybercriminals launched a social engineering attack in the event’s chat window. Shortly after such messages appeared, the AICD, in order to protect attendees, cancelled the event, and contacted local law enforcement.

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Security Boulevard

FEBRUARY 7, 2022

Cybersecurity insurance is an absolute necessity for any business operating in the modern world. However, increasing demand and threats of attacks have made insurance companies much more hesitant to offer claims. The post 5 Reasons Companies Are Denied Cybersecurity Insurance | ARIA appeared first on Security Boulevard.

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Webroot

AUGUST 10, 2021

The issue at the heart of ransomware insurance will be familiar to most parents of young children: rewarding bad behavior only invites more of the same, so it’s generally not a good idea. But critics of the ransomware insurance industry argue that’s exactly what the practice does. So, if U.S.-based So far, few have.

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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 This widely-held belief has fueled debates in policy-making circles and cybersecurity discussions.

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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

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Joseph Steinberg

AUGUST 5, 2021

One of the important concepts about which people must be aware when evaluating their cybersecurity postures and related liabilities, but which, for some reason, many folks seem to be unaware, is the difference between first-party risks and third-party risks. First-Party Risks And Coverage.

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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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Security Boulevard

JANUARY 30, 2024

Insurance broker Keenan and Associates is notifying more than 1.5 The post Insurance Broker Keenan Says 1.5 million people that their personal information may have been stolen during a cyberattack on its systems last summer. Million Affected by Data Breach appeared first on Security Boulevard.

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SecureWorld News

NOVEMBER 3, 2023

Cyber liability and crime insurance are like a safety net for businesses, but they're not perfect. Third, cyber risks are constantly evolving, and insurance companies may not be able to keep up. New threats are emerging all the time, and it can take time for insurance companies to update their policies.

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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. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.

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CyberSecurity Insiders

FEBRUARY 21, 2023

But now a new file encrypting malware variant has emerged onto the block that demands ransom, based on the insurance cover. ransomware does so during negotiations and tries to find the exact amount to be covered with the cyber insurance and then demands ransom.

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Centraleyes

MAY 6, 2024

The insurance industry is no exception. The insurance industry is built on handling our own and everyone else’s risks. As artificial intelligence shatters glass ceilings, the risks it introduces present a new paradigm to the insurance market in many different areas.

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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.

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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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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 isn’t it? .

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Security Boulevard

FEBRUARY 17, 2021

In this part of the blog series on the connection between cybersecurity and insurance, we move into the adoption of cybersecurity insurance and what is typically covered by these policies. Beginnings: the need to distinguish between digital and physical property Cybersecurity insurance is a new product concept.

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Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. I recently spoke with Neira Jones and Danna Bethlehem about how cybersecurity insurance can work to help an organization.

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Schneier on Security

JUNE 7, 2023

New paper: “ Lessons Lost: Incident Response in the Age of Cyber Insurance and Breach Attorneys “: Abstract: Incident Response (IR) allows victim firms to detect, contain, and recover from security incidents. It should also help the wider community avoid similar attacks in the future.

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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?

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IT Security Guru

JUNE 28, 2022

The past decade has seen cybersecurity barge its way into the mainstream. A meteoric rise in attack rates during COVID-19 , major incidents such as the Colonial Pipeline attack, and an increasingly tense geopolitical landscape have all contributed to cybersecurity’s current position at the top of global news feeds. It didn’t take off.

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Bleeping Computer

JANUARY 22, 2022

Bloomington School District 87 in Illinois has published its cyber-insurance renewal details, and the cost has jumped from $6,661 in 2021 to $22,229 this year. [.].

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eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. If your company has not already experienced a significant cybersecurity event, it is probably only a matter of time before it does. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage.

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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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