The Source for Cyber Insurance News, Insights and Data
Not long ago we reported on the threat from quishing and brushing. Now the IRS and Microsoft are advising consumers and accountancies about cyber scams linked to tax returns, including “smishing.” What are smishing cyber scams? Read on for a smishing definition. Microsoft Warns of Phishing Attacks Earlier this month Microsoft alerted cyber security professionals … Read more
“Quishing (QR Code Phishing) (is a) rapidly growing attack vector, increasing from 0.8% of phishing attempts in 2022 to 12.4% in 2024,” reports Intersys, a UK company that provides cyber risk management services to the insurance sector. Other cyber experts are sounding the same alarm, plus warning of “brushing,” another scam increasingly linked in quishing. The quishing … Read more
The cyber insurance market is stabilizing as cyber underwriting practices and pricing models mature. Rate volatility is decreasing, and coverage options are expanding. A new report from Risk Placement Services (RPS) highlights key trends shaping the market in early 2025. It touches on cybersecurity, data breaches, ransomware, AI-powered cyberattacks, and AI as a defensive tool, … Read more
Industry Growth Driven by New Markets and Products The global cyber insurance market has grown to an estimated $16.6 billion in 2024, according to Guy Carpenter’s latest “Behind the Firewall” report. This represents continued expansion in a market that has stabilized following sharp premium increases in 2021 and 2022. North America remains the dominant player, … Read more
Demand for cyber insurance-linked securities (ILS) products should increase and there’s plenty of room for growth given their relatively low volume compared to similar securities linked to natural events, says Fitch Ratings, a major provider of credit ratings and analysis. “These (recent ILS) transactions of $145 million are a small fraction relative to the $10 … Read more