The Source for Cyber Insurance News, Insights and Data
“…Cowbell found that 48% of insurance brokers and agents feel uncomfortable explaining cyber insurance to their clients. The same study found that 60% of clients are driven to obtain cyber insurance through increased awareness around cyber insurance, not by their brokers or agents, but instead by their peers.” The “Cowbell Academy,” says the company, is … Read more
Led by Andreessen Horowitz, the round included participation from Stone Point Ventures and EOS Venture Partners. Use of proceeds include expanding sales and building out the platform for an “end-to-end response process.” “CYGNVS (an acronym of CYber GuidaNce Virtual Space) empowers organizations to reduce their risk before a cyber crisis through preparation and practice and … Read more
Cyber liability insurers are scrutinizing clients for trending security shortfalls. A key one: cloud misconfigurations, which represent the third most common attack vector and are linked to 80% of ransomware attacks, according to the report. “Furthermore, Gartner predicted that by 2025, 99% of cloud security failures would be the customers’ fault, suggesting that misconfigurations will … Read more
In an insurance sector where historical actuarial tables do not exist, analytics are key for everything from underwriting to risk mitigation and response. From the press release: “…$50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley), with continued participation from all existing investors Forgepoint Capital, Hudson Structured … Read more
“MFA (Multi-Factor Authentication) is good and everyone should use it where they can to protect valuable data and systems (says security expert Roger A. Grimes.) Unfortunately, the insurance industry and their customers are going to learn that using ANY MFA is not going to be as helpful in reducing risk as they thought. Unfortunately, about … Read more