Security News
California-based cyber insurance firm Cowbell Cyber this week announced raising $20 million in a Series A funding round. Cowbell did not disclose a valuation for the latest funding round.
Deep Instinct backed its product with a performance guarantee that ensures a low false positive rate, plus a ransomware warranty up to $3 million per company for a single breach. "We are offering a level of protection for our customers that goes beyond anything on the market today," said Guy Caspi, co-founder and CEO of Deep Instinct.
Cyber insurance provider Corvus on Wednesday announced that it has raised $100 million in a Series C funding round. To date, the company has raised a total of $147 million.
The actual items covered by cybersecurity insurance naturally depend on the policy. Cybersecurity insurance has changed from something that was typically bundled with other commercial policies and not always well defined to more of a standalone item, according to Kudale.
French health insurance company Mutuelle Nationale des Hospitaliers has suffered a ransomware attack that has severely disrupted the company's operations. MNH is the first mutual insurance company in France to provide health insurance services, and plans focused on the health sector.
By acquiring Cyberscout, Sontiq will further build upon its world-class product platform and expand into the insurance industry with cyber solutions and forensic investigation products and services. With Cyberscout, and Sontiq's IdentityForce and EZShield, an ever-growing community of institutions, households, and individuals benefit from best-in-class products and services that define the identity theft and cyber fraud protection market.
To select suitable cyber insurance for your business, you need to think about a variety of factors. Cyber insurance has developed significantly over the past decade, driven by the increasing threat landscape and expanding legislation.
Threat actors are extorting an Israeli insurance company by demanding almost $1 million in bitcoin to stop leaking the company's stolen data. On Monday, a cybercrime group calling themselves 'BlackShadow' tweeted that they hacked into the Israeli Shirbit insurance company and stole files during the attack.
External attacks on companies result in the most expensive cyber insurance losses, but it is employee mistakes and technical problems that are the most frequent generator of claims by number, according to a report from Allianz Global Corporate & Specialty. Growth of the global cyber insurance market fueling cyber insurance claims.
Announcing the launch of Resilience Insurance, a newly formed program manager with insurance capacity rated "A+" by A.M. Best, provided through Intact Insurance Specialty Solutions' underwriting companies. "Resilience is reinventing cyber insurance by aligning our interests with those of the companies we insure," said Mario Vitale, President of Resilience.