While major breaches against large, well-known companies continue to dominate media headlines, the reality is that small and midsize businesses are much more common targets of most cyber attacks. In fact, according to Chubb’s claims data, 60 percent of all cyber events experienced by small and midsize businesses in the past three years were caused… Continue reading Chubb Advisory Highlights Rising Frequency and Costs for Cyber Attacks Against Small and Midsize Businesses
Tag: Cyber Liability insurance
Travelers Institute to Tackle Distracted Driving, Cybersecurity, Severe Weather and More in 2019
The Travelers Institute, the public policy division of The Travelers Companies, Inc. today announced its series of 2019 educational forums focused on combating distracted driving, managing cyber risks, insuring autonomous vehicles and preparing for severe weather events. Programs are free and open to the public. “We saw great engagement throughout our symposia series in 2018… Continue reading Travelers Institute to Tackle Distracted Driving, Cybersecurity, Severe Weather and More in 2019
Aon Releases 2019 Cyber Security Risk Report: “What’s Now and What’s Next”
Aon plc, the leading global professional services firm providing a broad range of risk, retirement and health solutions, released its 2019 Cyber Security Risk Report today. The report, which details the greatest cyber security threats and challenges organizations are currently facing, discusses that as companies continue to use technology to speed up the transfer of… Continue reading Aon Releases 2019 Cyber Security Risk Report: “What’s Now and What’s Next”
Global Ransomware Attack Could Cost Businesses Nearly $200B: Study
A global ransomware cyber-attack could cost $193bn and affect more than 600,000 businesses worldwide, according to a new report from the Cyber Risk Management (CyRiM) project, the Singapore-based public-private initiative that assesses cyber risks, of which Lloyd’s is one of the founding members. In the report’s scenario, the attack is launched through an infected email,… Continue reading Global Ransomware Attack Could Cost Businesses Nearly $200B: Study
Insurtech CoverHound Raises $58 Million in Series D Funding
CoverHound®, the property and casualty (P&C) insurance platform for digital distribution, today announced it has raised a $58 million Series D funding round. Global specialist insurer Hiscox led the round, with additional investors including leading insurance providers Chubb, Aflac Ventures and Japan-based MS&AD. CoverHound worked with Allen & Company LLC on the Series D, and… Continue reading Insurtech CoverHound Raises $58 Million in Series D Funding
Cybersecurity Market Worth Over $300bn by 2024: GMI
The cybersecurity market is expected to grow from $120 billion in 2017 to $300 billion by 2024, according to a 2019 Global Market Insights, Inc. report. The market is propelled by the increasing need among enterprises to minimize security risks. As enterprises are rapidly embracing cloud platforms and other networking technologies, they are becoming more… Continue reading Cybersecurity Market Worth Over $300bn by 2024: GMI
Climate and Cyber Risks Top Concerns Facing the World in 2019: WEF
The failure to tackle climate change and extreme weather events are the most threatening global risks this year, according to the World Economic Forum. Inability to mitigate or adapt to climate change leapfrogged several places on the list as the second-most likely risk facing the world in 2019 after extreme weather events, the WEF said… Continue reading Climate and Cyber Risks Top Concerns Facing the World in 2019: WEF
2019: Cyber Joins Business Interruption As A Leading Global Risk for Companies for First Time
In the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union and other countries, cyber risk is now a core concern for businesses in 2019 and beyond. According to the Allianz Risk Barometer 2019, Cyber incidents (37% of responses) are neck-and-neck… Continue reading 2019: Cyber Joins Business Interruption As A Leading Global Risk for Companies for First Time
Nation’s Power System Reveals Cyber Attacks on Hundreds of Small Contractors
One morning in March 2017, Mike Vitello’s work phone lighted up. Customers wanted to know about an odd email they had just received. What was the agreement he wanted signed? Where was the attachment? Mr. Vitello had no idea what they were talking about. The Oregon construction company where he works, All-Ways Excavating USA, checked… Continue reading Nation’s Power System Reveals Cyber Attacks on Hundreds of Small Contractors
Key Cyber Security Trends to Watch in 2019
As business decision-makers look to the year ahead, it is critical to address existing and new cyber security concerns. To help with that process, Chubb has launched its first annual cyber security predictions, which focus on the top risks in 2019 and beyond. “The cyber risk landscape is constantly evolving — it’s vital to stay… Continue reading Key Cyber Security Trends to Watch in 2019