Cyber insurance predictions for 2024 16/11/2023 at 08:01 By Help Net Security In this Help Net Security video, Dara Gibson, Senior Cyber Insurance Manager at Optiv, discusses cyber insurance and what we should expect to see in 2024: Ransomware, BEC, and pixel privacy claims will remain at the forefront of cyber insurance claims Cyber insurance […]
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Travelers to Acquire Cyberinsurance Firm Corvus for $435 Million 06/11/2023 at 22:27 By SecurityWeek News Property and casualty insurance giant Travelers has entered into an agreement to acquire Corvus Insurance Holdings for approximately $435 million. The post Travelers to Acquire Cyberinsurance Firm Corvus for $435 Million appeared first on SecurityWeek. This article is an excerpt
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Companies scramble to integrate immediate recovery into ransomware plans 30/10/2023 at 08:01 By Help Net Security More than one-third of companies still do not have a well-rounded, holistic ransomware strategy in place, according to Zerto. Immediate recovery crucial for businesses’ survival The survey also found that companies are reevaluating their data protection and cyber resilience
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Cyber attacks cause revenue losses in 42% of small businesses 30/10/2023 at 07:32 By Help Net Security 85% of small business leaders say they are ready to respond to a cyber incident despite a record-high 73% reporting an attack in 2023, according to Identity Theft Resource Center. Employee and consumer data continue to be the
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Keeping up with the demands of the cyber insurance market 12/10/2023 at 08:01 By Help Net Security Cyber insurance has been around longer than most of us think. When American International Group (AIG) launched the first cyber insurance policy in 1997, it stepped into completely unknown territory to gain market share. Now, 26 years later,
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Cyber insurance costs pressure business budgets 09/10/2023 at 06:01 By Help Net Security Cyber insurance is a type of insurance policy that provides financial protection and support to individuals and organizations in the event of cyber incidents, including data breaches, hacking, ransomware attacks, and other cyber threats. It typically covers expenses such as data recovery,
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MGM Resorts Says Ransomware Hack Cost $110 Million 06/10/2023 at 21:47 By Ryan Naraine MGM Resorts said costs from a disruptive ransomware hack has exceeded $110 million, including $10 million in one-time consulting cleanup fees. The post MGM Resorts Says Ransomware Hack Cost $110 Million appeared first on SecurityWeek. This article is an excerpt from
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CISO’s compass: Mastering tech, inspiring teams, and confronting risk 03/10/2023 at 07:32 By Mirko Zorz In this Help Net Security interview, Okey Obudulu, CISO at Skillsoft, talks about the increasing complexity of the CISO role and challenges they face. He discusses the business environment, tech innovation, the evolving regulatory landscape, limited resources, and budgets. Obudulu
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SMEs overestimate their cybersecurity preparedness 22/09/2023 at 06:02 By Help Net Security 57% of SMEs have fallen victim to at least one cybersecurity breach, among whom 31% reported that their business experienced a breach within the past 12 months alone, according to Guardz. The increasing number of evolving cyber threats poses a significant risk to
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Understand the fine print of your cyber insurance policies 01/09/2023 at 06:32 By Help Net Security A significant gap is emerging between insurance providers, as organizations skip the fine print and seek affordable and comprehensive coverage, potentially putting them in a tough place when they need to use this safety net, according to a Delinea
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The Reality of Cyberinsurance in 2023 29/08/2023 at 17:36 By Kevin Townsend If an organization decides to include cyberinsurance within its total cyber risk management posture, that cyberinsurance must be fully integrated with the organization’s cybersecurity posture. The post The Reality of Cyberinsurance in 2023 appeared first on SecurityWeek. This article is an excerpt from
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Cybersecurity insurance is missing the risk 25/08/2023 at 08:04 By Help Net Security Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance. The traditional actuary models do not
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UK Think Tank Proposes Greater Ransomware Reporting From Cyberinsurance to Government 08/08/2023 at 14:46 By Kevin Townsend The Royal United Services Institute (RUSI) examined the relationship between cyberinsurance and ransomware, and proposes greater reporting from victims to government, enforced through insurance policies. The post UK Think Tank Proposes Greater Ransomware Reporting From Cyberinsurance to Government
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Cyberinsurance Firm Resilience Raises $100 Million to Expand Its Cyber Risk Platform 08/08/2023 at 00:02 By SecurityWeek News Resilience Cyber Insurance Solutions has raised $100 million through a Series D funding round to support global expansion of its cyber risk platform that was launched earlier this year. The post Cyberinsurance Firm Resilience Raises $100 Million to
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Forgepoint Capital Places $15M Series A Bet on Converge Insurance 02/08/2023 at 00:18 By Ryan Naraine Forgepoint Capital makes another investment in the cyber-insurance sector with a $15 million Series A investment in Converge Insurance. The post Forgepoint Capital Places $15M Series A Bet on Converge Insurance appeared first on SecurityWeek. This article is an
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Forgepoint Capital Places $20M Series A Bet on Converge Insurance 01/08/2023 at 22:18 By Ryan Naraine Forgepoint Capital makes another investment in the cyber-insurance sector with a $15 million Series A investment in Converge Insurance. The post Forgepoint Capital Places $20M Series A Bet on Converge Insurance appeared first on SecurityWeek. This article is an
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Preparing health systems for cyber risks and insurance coverage 28/06/2023 at 07:32 By Mirko Zorz Our healthcare systems are at risk of infiltration by threat actors, potentially disrupting services, compromising sensitive data, and even jeopardizing patient outcomes. Among the people addressing these challenges is Dennis Fridrich, VP of Cybersecurity at TRIMEDX, who not only understands
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How cyber insurance empowers CISOs 27/06/2023 at 07:03 By Help Net Security In this Help Net Security video, Fawaz Rasheed, Field CISO at VMware, discusses how cyber insurance remains the high tide that rises ships. For organizations choosing to purchase cyber insurance, the requirements set forth towards them are beneficial in advancing their security program.
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Attackers leave organizations with no recovery option 31/05/2023 at 06:13 By Help Net Security Organizations of all sizes are increasingly falling victim to ransomware attacks and inadequately protecting against this rising cyberthreat, according to Veeam. One in seven organizations will see almost all (>80%) data affected as a result of a ransomware attack – pointing
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