The Source for Cyber Insurance News, Insights and Data
Ransomware stalks the factory floor. Claroty, a cyber-physical systems protection company, has released a new study revealing a concerning surge in ransomware attacks within the industrial sector. The research, “The Global State of Industrial Cybersecurity 2023: New Technologies, Persistent Threats, and Maturing Defenses,” is based on a global survey of 1,100 information technology (IT) and … Read more
The Global Cyber Insurance Market, valued at US$9.89 billion in 2022, is anticipated to witness a CAGR of 11.7% from 2023 to 2031. That is from a new report by TNR, The Niche Research. The research delves into the wake left by the COVID-19 pandemic. The international business landscape saw a decline in various sectors, … Read more
A report from The Geneva Association emphasizes that safeguarding society against an unprecedented cyberattack necessitates more than just insurance. The report, Cyber Risk Accumulation: Fully tackling the insurability challenge highlights the escalating cyber risks attributed to growing geopolitical tensions and the widespread use of digital technologies. Global cyberattacks surged by 38% in 2022 compared to … Read more
A new report from insurtech Resilience, Resilience Midyear 2023 Claims Report, reveals a significant shift in ransomware tactics. Cybercriminals are increasingly targeting larger organizations and employing encryption-less extortion methods. Key Highlights: The report attributes the trend in encryption-less extortion to the massive MOVEit file transfer platform hack in May 2023, which exposed the data of … Read more
Allied Market Research reports that the global cyber insurance market, valued at $12.5 billion in 2022, is poised to skyrocket to $116.7 billion by 2032, showcasing an impressive CAGR of 25.3%. This surge results from an increased awareness of cyber risks and a broader range of coverage options. Cyber insurance addresses the fallout of data … Read more