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“The vendor-agnostic survey of 5600 IT professionals, conducted by Vanson Bourne, found that 98% of businesses hit by ransomware had cyber insurance that covered ransomware and that the policy paid…
“Fitch estimates that standalone and packaged cyber statutory direct written premiums increased by 74% in 2021 to nearly $5 billion compared with 9% growth for the P/C industry overall, driven…
Read More “Fitch Updates Estimates on Growth of US Cyber Insurance Market ” »
“’Some insurance carriers have actually pulled out of the whole business of cyber insurance for municipalities. They find the risk is just too much for them…(a) policy that would provide…
Insurers have been tightening their war exclusions and clarifying attribution requirements, especially after the recent court win by Merck over reimbursement of its losses from 2017’s NotPetya malware attack. “However,…
Read More “Cyber Insurers Unlikely to Face Major Losses from Russia/Ukraine War: DBRS Morningstar” »
The new report goes beyond the growing media and PR generalities on this topic. It includes specifics on types of potential attacks and other actionable data. It also provides context…
The company’s Global Threat Brief H1-2022 calls out several sectors with significant risk: education, healthcare, manufacturing and utilities. As for specific attacks: “In the first half of 2022, we can…
Read More “Watch Out for SPoF Attacks in 2022, Warns CyberCube in New Report” »
While the average ransomware payment ($290k) has increased in Q3 2021 compared with the same quarter last year, a smaller percentage of ransomware demands are being met. The insuretech provider…
Prediction comes from Forrester Senior Analyst Jeffery Williams: “Bottom line, insurers have been collecting small premiums while facing near-infinite risks. At least one top 10 cyber carrier will cease writing…
File this under “important if true.” We put limited credence in the specifics of market reports such as these, but the combined trendlines produced by these various reports indicate rapid…
Read More “21% CAGR for Cyber Insurance Market from 2021-2031: Report ” »
There’s grim news in a new survey from cloud vendor Cloudian and Sapio Research: Cyber insurance only pays about 60% of costs from ransomware attacks — and paying ransoms often…
Read More “Cyber Insurance Pays Back Only App. 60% of Ransomware Costs & Then Rates Go Up” »