The Source for Cyber Insurance News, Insights and Data
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
Measured Analytics and Insurance (Measured AI) has unveiled an intriguing white paper, “How Generative AI Will Transform Cyber Insurance in the Next 24 Months.” This release underscores generative AI’s pivotal role in reshaping the landscape of cyber insurance. You can find the whole paper here. Our summary follows. Generative AI, a cutting-edge technology poised to … Read more
The Data Health Check 2023 report, released by Databarracks, highlights the growing importance of cyber insurance. Cyber-attacks are now the leading cause of IT downtime and data loss. In 2023, ransomware remained a huge problem. Over half of organizations experienced a cyber-attack last year. More than two-thirds of companies could only survive less than one … Read more