The Source for Cyber Insurance News, Insights and Data
Meeting cyber insurance policy demands is an evolving reality as organizations face increasing cyber threats across both on-premises and cloud environments. “In 2024, 48% of organizations had to make changes to their security posture to meet the criteria of the cyber insurance policy they chose,” said Michael Tweddle, Chief Product Officer at Netwrix. In response, … Read more
Effective incident response is vital in the fight against cybersecurity threats, as swift containment and recovery can significantly minimize the damage from attacks. Minimizing recovery time is especially critical in reducing operational disruptions and financial losses, making robust incident response solutions a priority for organizations today. Silverfort announced its new Identity-First Incident Response (IR) solution, … Read more
We recently told you how one cyber insurance expert predicts the massive CrowdStrike-caused IT outage may change the cyber insurance industry, including by boosting demand for coverage of non-malicious losses, or non-criminal claims, such as business interruptions cause by software failures. The recent NetDiligence Cyber Claims Study 2024 (see our summary of other findings here) … Read more
What some call the largest IT outage in history was caused by a faulty software update, not a cyber attack. But the team at Broadstone thinks the CrowdStrike debacle this summer will move the cyber liability insurance market anyway. “The CrowdStrike event, along with other recent cyber incidents like MoveIT, Change Healthcare, CDK Global, and … Read more
Recent and historical data incidents, such as the 2021 Colonial Pipeline ransomware attack and the 1998 near-loss of Pixar’s Toy Story 2, underscore the critical importance of robust data backup strategies. The Colonial Pipeline attack, which disrupted oil supplies and forced the company to pay a $4.4 million ransom, exposed vulnerabilities in data protection. Meanwhile, … Read more