The Source for Cyber Insurance News, Insights and Data
See the AWS insurance site here. “Amazon Web Services is diving headfirst into the cyber insurance industry by launching a new program that guarantees customers a security insurance quote within two days, tied with massive revenue opportunities for the channel. ‘I call this an industry-shaping moment,’ AWS’ Ryan Orsi, worldwide head of cloud foundations for … Read more
The round was led by major industry investor Bain Capital Tech Opportunities and included Accel. They were joined existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP Global Partners. Among other services, Blackpoint provides MDR (managed detection and response) and other technology to MSPs and offers a cyber insurance solution. From their … Read more
“That’s where tactics like double extortion come in. With double extortion, a cybercriminal might ask for a ransom before they provide a decryption key while also threatening to leak sensitive data if they don’t get paid. This tactic targets companies with strong backups, which may not need to regain their encrypted files, and puts additional … Read more
“…Corvus Signal™, the risk prevention solution that brings together brokers, policyholders, and Corvus security experts in partnership. Corvus Signal has been shown to reduce cyber breach frequency and cost by up to 20 percent.” The press release from the company quotes the director of IT at a mid-sized healthcare services company: “…Corvus takes a lot … Read more
“(O)verall claims frequency decreased by 22% year-over-year. Furthermore, Coalition policyholders experienced 64% fewer claims than the broader cyber market1, with 47% of reported events handled with no cost to the policyholder A less-sophisticated crime, funds transfer fraud (FTF) unseated ransomware as the leading event type, accounting for nearly one-third of all claims. Notably, ransomware saw … Read more