How to Make Cyber Security an Part of the Business Culture? Cyber Risk Areas
The reality is that the cyber threats facing private businesses are no different from any other type of organisation. Cyber criminals are essentially opportunistic
The reality is that the cyber threats facing private businesses are no different from any other type of organisation. Cyber criminals are essentially opportunistic
Cyber threats, like ransomware and data breaches, are growing at a rapid rate, and the need for cyber insurance to protect against these evolving threats has never been greater
New EU Legislation came into force to bolster cybersecurity requirements to protect critical and digital infrastructure for applicable entities in member states
Public announce of cyber risk transference by (re)insurers to capital markets through ILS issuances represent the potential for a reinsurance
Zero-trust cybersecurity strategy with simplicity and risk reduction at the heart is mandatory to reduce exponential cyber attacks
Things have been tough recently in the cyber insurance industry. Businesses have a difficult time finding affordable policies with the right limits
Russia’s War in Ukraine added a big dose of complexity into an already complicated cyber risk environment, elevating the threat of large-scale attacks
Here are 5 of the most important security controls you should have in place to reduce the risk of a cyber incident and, ultimately, lower the risk for your insurer
The global cyber market finally began to stabilize in 2024, largely thanks to renewed competition between markets, a decrease in median ransomware payments
The top five risk trends boards of management need to guard against in 2024, according to AGCS financial lines experts
Insidious form of crime is accelerating and evolving, as acceleration to ecommerce and remote work opened up new avenues of entry for fraudsters
Ransomware is a form of malware that is constantly evolving and is designed to encrypt files on a device, making all files and systems that depend on them unusable
By increasing cyber security, companies are less attractive to attackers. It is not commonplace for us to see clients with strong cyber maturity and security mechanisms
Cyber security has long been seen as an IT issue but today’s booming digital economy means this is no longer the case
Ransomware remains a top cyber risk for organizations globally while business email compromise incidents are on the rise and will increase further in the ‘deep… Read More »How Are Growing Cost of Ransomware Attacks Impacts for Insurance & Businesses?
Given cyber crime incidents are now estimated to cost the world economy in excess of $1trn a year – around 1% of global GDP – it is no surprise that cyber risk regularly ranks
Ransomware is a specific and extremely harmful type of malware used by cybercriminals to extort money from individuals, organizations, and businesses
Being an industry centred on computer technology, it should be of no surprise that cyber catastrophe models have developed in complete tandem with the cyber insurance market
In response to uncertainty around cyber risk, insurance providers have become more selective in their underwriting through better risk selection, lower limits, cyber insurance
Risk management is the process of identifying, assessing and responding to/mitigating risk events. Organisations must understand the probability and potential severity of loss events
The resulting losses from a systemic cyber event could be very large, impacting companies, the broader economy and society at large
The frequency and severity of cyberattacks are ever increasing. Data breaches to steal personal information occur daily, but only the largest make the news
Сlaims determinations under cyber insurance are particularly susceptible to insurers arguing that they did not intend to cover a type of claim
As per GlobalData’s Cybersecurity in Insurance report, by 2025, the cybersecurity market size in the insurance sector will have reached $10.6 billion
The cyber insurance market continues to evolve and adapt to the changing threat landscape, as cybercriminals and nation states exploit security vulnerabilities
Ransomware attacks have become even more damaging, audacious and widespread over recent years, with no obvious let-up on the horizon
Increasing demand for cyber re/insurance have made the need for fresh risk capital acute. With insurance linked securities (ILS) market, re/insurers may be change
As we look back on the cyber insurance marketplace, we see all the hallmarks of a hardening market, with no signs of relief as we move into 2022