Ransomware and cyber insurance: What are the risks?
High-profile ransomware events, such as the Colonial Pipeline and Kaseya attacks, continue to create eye-popping headlines about how easily a cybercriminal group can cripple …
cyber insurance
54% of businesses now have a policy in place to deal with ransomware attacks
54% of businesses now have a defined policy in place to deal with ransomware attacks – whether this means paying a ransom, relying on insurance policies or refusing to pay at …
Health insurers facing growing risk of customer data theft
The U.S. health insurance industry is facing growing risks from cybersecurity threats due to the increasingly sophisticated techniques used by cybercriminals amid the …
Cyber insurance failing to live up to expectations
A RUSI paper finds that the contribution of the insurance sector to improving cyber security practice is ‘more limited than policymakers and businesses might hope’, and …
Security leaders more concerned about legal settlements than regulatory fines
An overwhelming 90% of security leaders are concerned about group legal settlements following a serious data breach, compared to 85% who are worried about regulatory fines, …
APIs in the insurance industry: Accessing a growing world of data
The insurance industry is vast and varied. It can be found in nearly every country in the world, with the earliest references dating back as early as 1750 BC. Modern …
Middle market companies facing a record number of data breaches
Middle market companies possess a significant amount of valuable data but continue to lack appropriate levels of protective controls and staffing, according to a report from …
How do I select cyber insurance for my business?
There has been a 70%+ increase in the average cost of a cybercrime to an organization over five years to $13mn and a 60%+ increase in the average number of security breaches, …
Cyber insurance claims on the rise
External attacks on companies result in the most expensive cyber insurance losses, but it is employee mistakes and technical problems that are the most frequent generator of …
Companies that facilitate ransomware payments risk violating US sanctions
Companies that ransomware-hit US organizations hire to facilitate the paying of the ransom are at risk of breaking US sanctions, falling afoul of the US Department of the …
Businesses vulnerable to emerging risks have a gap in their insurance coverage
The majority of business decision makers are insured against traditional cyber risks, such as breaches of personal information, but most were vulnerable to emerging risks, …
The battle against ransomware: Lessons from the front lines
Ransomware is arguably the most significant cybercrime innovation in recent history. The ransomware business model is so effective that it is now the most common and …