The Source for Cyber Insurance News, Insights and Data
“Another reason that risk matrices can be counterproductive is they act as an ‘analysis placebo,’ where decision-makers think they understand the risk because they have subjectively characterized the risk as ‘high,’ ‘low,’ etc. But, because the risk matrix is not based on hard data about the chance of loss and the potential magnitude of loss, … Read more
“The “vast majority” of cyber insurers plan to remain in the market over the next three years as the industry establishes an operations baseline to cope with very high claim volume, research from Panaseer released this week shows…There’s underlying confidence in how insurers evaluate customers’ security postures. Nine in 10 cyber insurance decision makers are … Read more
“Officials can look at the probabilities of attacks succeeding and probabilities that these result in different depths of financial losses. Then officials can factor in how adopting different preventive measures might draw down those costs. This lets officials estimate how much investing in a better backup system or in anti-phishing training, for example, might reduce … Read more
LIkely a confusing and counter-productive take, in our opinion. DHS is now, in effect, raising questions about whether businesses should get cyber insurance. Or is the agency implying businesses self-insure against ransomware but obtain coverage for other cyber risks? Government will not be the primary driver of improved cyber security. As with fire safety, loss … Read more
“Law firms have this treasure trove of information. Statistically, they’re about six times more likely to pay the first ransom demanded, rather than negotiate it…and I have to tell them, months in advance of their renewal, that their premium is going to shoot up. I had one law firm client whose premium went from about … Read more