SMBs are hardest-hit by ransomware
Coalition announced the mid-year update to its 2022 Cyber Claims Report detailing the evolution of cyber trends, revealinig that small businesses have become bigger targets, …
cyber insurance
With cyber insurance costs increasing, can smaller firms avoid getting priced out?
Cyber insurance is quickly becoming an unavoidable part of doing business as more organizations accept the inevitability of cyber risk. There is a growing awareness of the …
Businesses expect the government to increase its financial assistance for all ransomware incidents
Businesses are increasingly concerned about how they will meet ransomware demands. Only 19 percent of those surveyed have ransomware coverage limits above $600,000, while over …
Organizations are losing cyber insurance as an important risk management tool
The number of organizations that will be either unable to afford cyber insurance, be declined cover, or experience significant coverage limitations is set to double in 2023, …
Organizations would like the government to help with ransomware demand costs
Businesses are increasingly concerned about how they will meet ransomware demands. Only 19 percent of those surveyed have ransomware coverage limits above $600,000, while over …
As the cost of cyber insurance rises, the number of organizations who can’t afford it is set to double
The number of organizations that will be either unable to afford cyber insurance, be declined cover, or experience significant coverage limitations is set to double in 2023, …
Cyberattack prevention is cost-effective, so why aren’t businesses investing to protect?
Cyberattacks like ransomware, BEC scams and data breaches are some of the key issues businesses are facing today, but despite the number of high-profile incidents, many …
Ransomware looms large over the cyber insurance industry
A Panaseer survey of global insurers across the UK and US found that 82% are expecting the rise in premiums to continue, with 74% of insurers agreeing that their inability to …
72% of middle market companies expect to experience a cyberattack
Middle market companies face an increasingly volatile cybersecurity environment, with threats coming from more directions than ever before and more skilled criminals targeting …
Ransomware is up and victims are paying
Sophos released a survey and review of real-world ransomware experiences in a report which shows that 66% of organizations surveyed were hit with ransomware in 2021, up from …
2021 average ransoms paid by quarter was $167K, down 44.2%
In reviewing the evolving cyber risk landscape, a Corvus Insurance report includes a breakdown of the impact of zero-days and third-party risk, updates on ransom severity, …
18% of the top 99 insurance carriers have a high susceptibility to ransomware
Black Kite released a report that examines rising cyber risk concerns and ransomware susceptibility in the insurance sector. The most notable takeaway: nearly 20% of the top …