Security News
As the digital landscape becomes more interconnected, it brings with it the growing threat of cyberattacks. The purpose of this policy, written by Maria Carrisa Sanchez for TechRepublic Premium,...
In this Help Net Security interview, Michael Daum, Head of Global Cyber Claims for Allianz Commercial, discusses the significant rise in cyber claims in 2024, driven by an increase in data...
Cyber insurance is vital for companies mitigating cyber risks, but the industry still encounters significant challenges, including shifting policy requirements and uncertainty around coverage in...
Cyber claims have continued their upwards trend over the past year, driven in large part by a rise in data and privacy breach incidents, according to Allianz. Cyber claims frequency exceeds €1...
The cyber insurance market is set for explosive growth as organizations increasingly seek financial protection against rising cyber threats. This surge in demand reflects a broader shift in how...
Cyber insurance is poised for exponential growth over the coming decade, but it remains a capital-intensive peril that requires structural innovation, according to CyberCube. The mid-range...
Digitalization has evolved into a systemic risk for organizations - and cyber insurers. With the global cost of cybercrime skyrocketing, something has to change.
Improved cyber hygiene among businesses has led to a reduction in cyber insurance premiums by 15% worldwide over the last two years, a new report from Howden Insurance Brokers has found. "Sarah Neild, head of cyber retail U.K. at Howden, explained why the cost of cyber insurance has declined. She told TechRepublic in an email,"Increased risk awareness off the back of persistent and high-profile attacks is one reason.
"Our report delivers a clear message: ransomware attacks will continue, be more severe than predicted, and the overall impact will cost organizations more than they expect. Organizations must take action to ensure cyber resiliency and acknowledge that rapid, clean recovery matters most," added Russell. Despite increased focus on cyber-preparedness, organizations still face a misalignment between their backup and cyber teams.
Cyber insurance policies are specifically designed to offer financial protection to organizations in the face of cyber attacks, data breaches, or other cybersecurity incidents. While they can provide a sense of security, it's crucial to be aware of their limitations.