Cyber Insurance Threats

Cyberattacks Surge, Multicloud Woes, and Generative AI’s Looming Data Shadow – Dell’s GDPI Report

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Dell Technologies’ latest Global Data Protection Index (GDPI) paints a concerning picture: cyberattacks are rising, multicloud data protection remains a puzzle, and the data deluge from generative AI is on the horizon. Concerning cyber liability insurance, the report notes: “Despite ransomware insurance policies being commonplace, they come heavily caveated, leaving organizations financially vulnerable.” Findings in … Read more

Google Predicts Stable Cyber Insurance Premiums in 2024 (+ more “Pig Butchering”)

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The predictions come in the tech giant’s report “Cybersecurity Forecast 2024: Insights for Future Planning.” The report is a fascinating read for anyone involved in the cyber security arena — we were struck by the section on “Pig Butchering* scams,” among others — but more to point are the comments on cyber liability insurance. “Cyber … Read more

Feds Relaunch Cybersecurity Insurance and Data Analysis Working Group (CIDAWG)

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The Cybersecurity and Infrastructure Security Agency (CISA) release announces a new partnership with Stanford’s Empirical Security Research Group and focuses on analyzing the effectiveness of security controls, with a focus on ransomware. The effort begins in December. “CISA will ask working group members to collaborate with Stanford to improve analysis of the aggregated, anonymized loss … Read more

Fears of Massive Cyber War Losses are Overblown: Catastrophic Risk Expert

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We’ve reported extensively on the insurance industry’s fear of “cyber war;” debate over exclusions for state-backed, systemic cyber attacks; moves by governments to backstop the cyber insurance industry for massive attacks; and the challenges of current modeling of risk accumulation and catastrophic cyber events. Now comes a contrarian view from a leading cyber risk risk … Read more

You’re Measuring Systemic Risk all Wrong, InsuranceERM Tells Cyber Insurance Industry

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We’ve reported extensively on the challenges of the cyber insurance industry in modeling systemic risk and the related accumulation risk (insurance risk of multiple, unanticipated claims from the same or related events, such as a large cyber attack.) InsuranceERM, a provider of news and information on insurance and risk, suggests the industry is using a … Read more

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