In a joint whitepaper, Closing the Cyber Risk Protection Gap, Zurich Insurance Group and Marsh McLennan highlight the growing divide between increasing cyber threats and the current ability of both businesses and insurers to mitigate them.
Tag: cyber risk
New Strategies Needed to Tackle Ransomware and Aggregation Risks in Cyber Insurance
Ransomware attacks and aggregation issues are pressing the insurance industry to rethink its approach to cyber risk management.
Conning: Fork in the Road for Cyber Insurance Market?
The next three years will be critical to the long-term growth prospects of the cyber insurance market, according to a scenario-led analysis of the market’s dynamics released today by Conning entitled “Cyber Risk: On the Edge of Insurability.”
Study Finds Significant Correlation Between Cybersecurity Ratings and Incidents
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.
Callback Phishing Campaigns Impersonate CrowdStrike and Other Cybersecurity Companies
On July 8, 2022, CrowdStrike Intelligence identified a callback phishing campaign impersonating prominent cybersecurity companies, including CrowdStrike. The phishing email implies the recipient’s company has been breached and insists the victim call the included phone number. This campaign leverages similar social-engineering tactics to those employed in recent callback campaigns including WIZARD SPIDER’s 2021 BazarCall campaign.… Continue reading Callback Phishing Campaigns Impersonate CrowdStrike and Other Cybersecurity Companies
Cyber Snapshot Reveals Increasing Threats of Data Exfiltration as Extortion Techniques Evolve
Cyber risk remains a persistent threat to organizations with no appreciable change in incidence, but a new sophistication in threat actors’ approach is emerging, according to data released by Beazley today in a new report. The inaugural Beazley Cyber Services Snapshot presents a deep dive into the growing issue of data exfiltration, exploring the myriad… Continue reading Cyber Snapshot Reveals Increasing Threats of Data Exfiltration as Extortion Techniques Evolve
S&P Global Says Russia-Ukraine Insurance Losses Could Reach $35 Billion
S&P Global sees losses in the specialty insurance market of $16-35 billion from the Russia-Ukraine conflict, the ratings agency said on Thursday. This includes possible aviation insurance losses totaling $6-15 billion, S&P said in a report. Other specialty lines likely to be affected by the conflict include cyber, political risk and marine war insurance, S&P… Continue reading S&P Global Says Russia-Ukraine Insurance Losses Could Reach $35 Billion
Aon Implements Guidewire Cyence to Mitigate Cyber Accumulation Risk and Support Cyber Sector Growth
Aon plc and Guidewire Software, Inc. on Thursday announced that Aon is implementing Guidewire’s Cyence Risk Analytics risk selection and accumulation management products to help clients better quantify their risks and underwrite cyber insurance with increased confidence. A series of high-profile events in 2021 has reinforced re/insurers’ concerns about the systemic potential of cyber attacks,… Continue reading Aon Implements Guidewire Cyence to Mitigate Cyber Accumulation Risk and Support Cyber Sector Growth
Remote Work Creating New Opportunities for Cyber Criminals
The novel coronavirus (COVID-19) and the resultant move to widespread homeworking has created new vulnerabilities for criminals to exploit. This is the key finding of a new report authored jointly by cyber analytics expert CyberCube and professional services firm Aon. According to the report, homeworking has exposed new access points for cyber criminals to gain… Continue reading Remote Work Creating New Opportunities for Cyber Criminals
RMS Enables Organizations to “Flatten the Curve” from Acute and Chronic Disasters with Modern Risk Technology
The world is experiencing the extraordinary crisis of the COVID-19 pandemic, coupled with the never-ending climate crisis and escalating cyber threats. Markets, supply chains, economies, societies and assets can be highly susceptible to shocks and damage from these dynamically shifting risks, posing major challenges to understanding the impacts of these risks and to recovery. At… Continue reading RMS Enables Organizations to “Flatten the Curve” from Acute and Chronic Disasters with Modern Risk Technology