The Source for Cyber Insurance News, Insights and Data
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 expect to see an active cyber threat landscape with more digital supply chain and Single Pointof Failure (SPoF) attacks… CyberCube expects to see ransomware threat … Read more
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 of “smart commercial insurance products” reports companies are doing a better job of backing up their data, which helps them avoid the tender mercies of … Read more
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 new business and selectively run off existing business in 2022.” Read the blog post here. “Download Forrester’s Predictions 2022 complimentary guide and find out what’s … Read more
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 growth of the cyber insurance sector, which is consistent with recent historical results and the expectations of informed market participants. “The global cyber insurance market … Read more
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 does not result in the return of most data. Most companies see their cyber insurance rates climb some 25% after a ransomware attack. Get the … Read more