The Source for Cyber Insurance News, Insights and Data
Insurance Europe has released a new report titled “Insurers’ Role in EU Cyber Resilience,” highlighting the escalating frequency and severity of cyber threats and offering policy recommendations to bolster cyber resilience across the European Union. As cyberattacks increased by 38% globally between 2022 and 2023, businesses face growing risks from ransomware, malware, phishing, and other … Read more
A recent survey by the UK Home Office reveals that half of UK businesses have experienced cyber security breaches or attacks in the past year, underscoring the escalating digital risks they face. Phishing remains the most prevalent threat, affecting 84% of businesses, while medium and large companies report even higher rates of cyber incidents. As … Read more
Cybercrime incidents cost the Middle East an average of over $8 million (€7.2 million) per incident in 2023, according to IBM-funded research spanning data breaches in 16 countries. In response to the growing financial toll of cyber threats, Alvacomm announced the launch of a cyber risk platform tailored for insurance providers and brokers in the … Read more
Cyber insurance in the Asia-Pacific (APAC) region is expanding rapidly as businesses confront increasing threats from cyberattacks and data breaches. As digital transformation accelerates across industries, companies of all sizes become more vulnerable to risks like ransomware, phishing, and malware. Coalition has announced a multi-year capacity agreement with Mitsui Sumitomo Insurance Co., Ltd. (MSI), part … Read more
In a region where data flows faster than the monsoon rains and cybercriminals lurk like digital pirates, the Asia-Pacific cyber insurance market is in a race to catch up. The game is on, and with cyber-attacks surging by nearly 50% annually, APAC is poised to secure its slice of the global cyber insurance pie. According … Read more