The Source for Cyber Insurance News, Insights and Data
Munich RE is out with a useful new report, “Cyber Insurance Risks and Trends 2024,” that ranges from commentary on the growth of various cyber risks (ransomware is back) to a bullish projection that the cyber insurance market will reach USD $29 billion by 2027 (see below). The report’s analysis of threats includes the growing … Read more
“The impact of GenAI on the cyber landscape is likely to increase the frequency, severity, and diversity of smaller scale cyber attacks, which will grow over the next 12-24 months, followed by a plateauing as security and defensive technologies catch up to counterbalance their impacts,” predicts the report, “Generative AI: Transforming the Cyber Landscape.” The … Read more
Cyber insurance professionals well remember the market shake up and debate a year ago when Lloyd’s Market Association announced model cyber war clauses. As we reported, the announcement led to market confusion, claims such an attack could cost trillions of dollars, push back about such dramatic reports on the cost of cyber war and growing … Read more
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
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