The Source for Cyber Insurance News, Insights and Data
In a startling revelation, Lloyd’s, the world’s premier insurance and reinsurance marketplace, has unveiled a systemic risk scenario that paints a grim picture of the global economy’s susceptibility to a major cyber attack. This hypothetical envisions a cyber strike on a major financial services payments system, leading to widespread disruption in global operations. The potential … Read more
A new report from Hiscox has found that Ireland is one of the countries most affected by cyber attacks, with 71% of businesses suffering an attack in the past year. This is a 22% increase from the previous year, four times higher than the global average. “Cyber must now be viewed as a standard business … Read more
According to a new report by SNS Insider, the global penetration testing market anticipates reaching USD 4.13 billion by 2030, with a projected CAGR of 13.42% from 2023 to 2030. Several factors propel this growth, such as the rising sophistication of cyberattacks, the expanding embrace of cloud computing and mobile devices, and the growing demands … Read more
“(M)ore than half (54%) of respondents found the current state of the cyber insurance market to be unsustainable,” reports the useful survey from KYND Limited, a provider of cyber risk management services. The top concern: Systemic risk. The finding tracks with our reporting on industry concerns about systemic risk, from cyber war exclusions to efforts … Read more
A new report released by New York State Comptroller Thomas P. DiNapoli today shows that cyberattacks in the state have increased 53% since 2016, jumping from 16,426 incidents in 2016 to 25,112 in 2022. The report also found that New York had the third-highest number of ransomware attacks and corporate data breaches in the nation … Read more