Cyber Insurance

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Cyber Insurance

Cyber Insurance Cannot Offset the Dangers of Ransomware

May 26, 2023

Cyber insurance only forms part of the puzzle in bolstering cyber resilience. Even with cyber insurance, businesses must not consider themselves immune from ransomware attacks. They must still implement cyber hygiene practices as part of a holistic data protection and recovery strategy.

Cyber Security News

Victory for Pharma Giant Merck in NotPetya Cyber Attack Suit Redefines “Act of War” Insurance Claims

May 16, 2023

Victory for Merck in the long-simmering suit on the 2017 NotPetya cyber attack means that cyber insurers now have much less ground to stand on when denying insurance claims on an "act of war" basis.

Digital umbrella showing cyber risks and cyber insurance

Cyber Security Insights

Squaring the Cyber Insurance Circle: Low Premium, Low Risk, High Security

April 10, 2023

In today’s cyber security environment, organizations always strive for getting the best return on investment when shopping for cyber insurance. Companies desire low-cost policies without accurately assessing risk. Insurers want low risk and to cover as little as possible. How did we get here and where do we go?

Woman under an umbrella in heavy rain showing cyber insurance

Cyber Security Insights

Cyber Insurance: The Policy Changes Needed To Save the Industry

February 9, 2023

In late December last year, Mario Greco, the chief executive of insurance giant Zurich sent shockwaves through the business world when he announced that cyberattacks are set to become uninsurable. Cyber insurance providers are left with no choice but to tighten their policies, or risk going bankrupt.

Bank of England building showing UK financial regulator stress test report on cyber insurance

Cyber Security News

UK Financial Regulator: Country’s Cyber Insurance Providers Lack Consistency in Risk Assessments, Modeling Capability

February 7, 2023

The UK financial regulator found that cyber insurance firms "mostly" weathered the stress test, in the sense that only a small number reported concluding the scenario with an amount of funds on hand that would put them beneath national solvency capital requirements.

Crypto coins on a laptop keyboard and hundred-dollar bills in neon light showing ransomware payments

Cyber Security News

Cyber Criminal Revenue Takes a Dive as Organizations Increasingly Refuse Ransomware Payments

January 25, 2023

2020 and 2021 were record years for ransomware payments at about $765 million. The take collected by ransomware operators is now down 40% to $457 million in 2022.

Businessman holding umbrella in data center showing cyber insurance and cyber business intelligence

Cyber Security Insights

Why Cyber Insurance Will Revive Cyber Business Intelligence

January 16, 2023

Things have been tough recently in the cyber insurance industry. Businesses have a difficult time finding affordable policies while underwriters struggle to return loss ratios to profitable levels. These challenging times, however, are forging a resurgence in cyber business intelligence.

Businessman using smartphone showing cyber insurance and multi-factor authentication

Cyber Security Insights

How To Satisfy the Cyber Insurance Requirement for Multi-factor Authentication for Critical Self-Hosted Applications

January 9, 2023

Cyber insurance providers wants to be sure that the company is proactively managing their cybersecurity risk and one of the requirements is to implement multi-factor authentication (MFA) for all applications and APIs. what is the fastest and most cost-effective path to connecting all your self-hosted apps to your identity platform and enabling MFA?

Businessman caught in heavy rain hiding under his jacket showing cyber insurance

Cyber Security Insights

Amid Surge in Ransomware Attacks, More Organizations Are Being Rejected for Cyber Insurance — What Can Leaders Do?

November 28, 2022

Surge in ransomware attacks and the complex cybersecurity landscape – complicated by the growing adoption of remote work – are giving cyber insurance companies leverage to hike premiums at alarming rates. Here are three strategies to help you find keep costs affordable and get approved for coverage you need.

Engineer holding umbrella in data center showing cyber insurance and security controls

Cyber Security News

80% Of Companies Filing Cyber Insurance Claims Portends Higher Costs, New Requirements for Security Controls

November 17, 2022

Requirements by insurers to implement security controls are already on the rise as 80% of cyber insurance policyholders have filed a claim and 50% have filed more than one.

Cyber Insurance

Cyber Insurance Cannot Offset the Dangers of Ransomware

Victory for Pharma Giant Merck in NotPetya Cyber Attack Suit Redefines “Act of War” Insurance Claims

Squaring the Cyber Insurance Circle: Low Premium, Low Risk, High Security

Cyber Insurance: The Policy Changes Needed To Save the Industry

UK Financial Regulator: Country’s Cyber Insurance Providers Lack Consistency in Risk Assessments, Modeling Capability

Cyber Criminal Revenue Takes a Dive as Organizations Increasingly Refuse Ransomware Payments

Why Cyber Insurance Will Revive Cyber Business Intelligence

How To Satisfy the Cyber Insurance Requirement for Multi-factor Authentication for Critical Self-Hosted Applications

Amid Surge in Ransomware Attacks, More Organizations Are Being Rejected for Cyber Insurance — What Can Leaders Do?

80% Of Companies Filing Cyber Insurance Claims Portends Higher Costs, New Requirements for Security Controls

Module Installed in Over 100 Android Apps Contained Spyware, Infected Over 421 Million Downloads

Apria Healthcare Data Breach Exposed Sensitive Information of Nearly 2 Million Patients

Wave of Employer ChatGPT Bans Continues as Apple Restricts Internal Use of AI Tools

Sensitive Patient Information Was Sent Through Meta Pixel by NHS Trusts