Study shows deficiencies in cybersecurity performance increase an organization’s risk of experiencing a cybersecurity incident, whereas strong performance implies a lower risk of an incident occurring.
Tag: cyber insurance
Measured Analytics and Insurance Launches AI-Powered Excess Cyber Coverage for SMBs
Measured Analytics and Insurance, the industry’s leading AI-powered cyber insurance provider, has announced its intention to enter the excess cyber insurance market in order to provide more capacity in the cyber coverage marketplace. Measured’s excess policy was built in partnership with brokers, based on their valuable feedback,” Nick Little, Head of Insurance, commented, “best-in-class underwriting… Continue reading Measured Analytics and Insurance Launches AI-Powered Excess Cyber Coverage for SMBs
One in Four Companies Globally Suffered a Data Breach: PwC
According to PwC’s annual Global Digital Trust Insights Survey, which polls more than 3,500 senior executives from 65 countries, one in every four companies [27%] has experienced a data breach that cost them $1-$20 million or more in the last three years. “The percentage rises to one in three [34%] for companies surveyed in North… Continue reading One in Four Companies Globally Suffered a Data Breach: PwC
Lloyd’s of London Investigates Possible Network Breach
The commercial insurance market said on Wednesday that Lloyd’s of London is investigating a possible cyber attack, with companies on high alert for intrusions as a result of the conflict between Russia and Ukraine. “Lloyd’s has detected unusual activity on its network and we are investigating the issue,” a Lloyd’s spokesperson said by email, adding… Continue reading Lloyd’s of London Investigates Possible Network Breach
Cyber Threats Once Again at the Top of Travelers Risk Index
According to the 2022 Travelers Risk Index results, cyber threats have been identified as the top overall concern for business decision makers for the third time in four years. More participants believe today’s business environment is riskier than a year ago, and more than half believe a future cyber attack on their company or organization… Continue reading Cyber Threats Once Again at the Top of Travelers Risk Index
Uber Hacker Claims Widespread Computer Access Following Breach
Uber Technologies Inc. has responded to a cybersecurity breach allegedly caused by a hacker who claimed to have gained widespread access to the company’s computer systems. “We are currently investigating a cybersecurity incident.” “We are in contact with law enforcement and will post any additional updates here as they become available,” the ride-hailing company said… Continue reading Uber Hacker Claims Widespread Computer Access Following Breach
Coalition Report: Cyber Claims Costs for Smaller Businesses Rise
Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today announced the mid-year update to its 2022 Cyber Claims Report detailing the evolution of cyber trends. Key findings include that small businesses have become bigger targets, overall incidents are down, and ransomware attacks are declining as demands go unpaid.… Continue reading Coalition Report: Cyber Claims Costs for Smaller Businesses Rise
Cyberattack Hits Los Angeles School District
A ransomware attack on the massive Los Angeles school district prompted an unprecedented shutdown of its computer systems, as schools become increasingly vulnerable to cyber breaches at the start of the school year. The Los Angeles Unified School District attack sounded alarms across the country, from urgent talks with the White House and the National… Continue reading Cyberattack Hits Los Angeles School District
Higher Cyber Premiums to Help Insurer Performance
According to Fitch Ratings, the cyber insurance market is expanding as premiums rise sharply and insurers remain committed to the market despite losses due to rising claims. The performance of cyber insurers will likely improve as prices rise and underwriting standards tighten, according to Fitch. Nonetheless, the loss experience of the cyber-insurance segment will most… Continue reading Higher Cyber Premiums to Help Insurer Performance
BTIS Announces Launch of New Cyber Insurance Marketplace with Cyber Provider At-Bay in 27 States
Carrier integration will provide full quoting & binding capabilities for over 1,000 business classes Builders & Tradesmen’s Insurance Services, Inc. (BTIS), an insurance intermediary focused on serving small businesses with end-to-end insurance solutions, is pleased to announce the launch of an all-new cyber insurance marketplace with cyber provider At-Bay, providing comprehensive coverage for an expanded… Continue reading BTIS Announces Launch of New Cyber Insurance Marketplace with Cyber Provider At-Bay in 27 States