The Source for Cyber Insurance News, Insights and Data
A Shocking 33% Surge in Internet Crime Losses The FBI’s 2024 Internet Crime Report shows a staggering 33% increase in reported losses from crimes like phishing, extortion, and data breaches, with the total cost reaching $16.6 billion. In 2024, the FBI’s Internet Crime Complaint Center (IC3) received 859,532 complaints. About 256,256 victims reported financial loss, … Read more
Cowbell introduces Prime One Tech to UK market Cyber insurance provider Cowbell has launched Prime One Tech, a new product offering professional indemnity and cyber coverage to UK tech companies with annual turnover up to £1 billion. The product offers coverage limits up to £5 million. It targets software, hardware, communications, and tech service firms … Read more
Not long ago we reported on the threat from quishing and brushing. Now the IRS and Microsoft are advising consumers and accountancies about cyber scams linked to tax returns, including “smishing.” What are smishing cyber scams? Read on for a smishing definition. Microsoft Warns of Phishing Attacks Earlier this month Microsoft alerted cyber security professionals … Read more
Rising Family Office Cyber Threats Prompt Urgency Cybercriminals go where the money is, but too many family offices are leaving the vault door wide open. A new report by Deloitte reveals that nearly half of family offices worldwide have suffered cyberattacks in the last two years. Amazingly, 63% operate without cyber insurance. These private financial … Read more
Why Consumers Underestimate Personal Cyber Insurance and How to Bridge the Gap Insurance agents recognize the pressing threat of cybercrime, but their clients are slow to act. According to the Insurance Information Institute (Triple-I) and HSB’s latest report, Addressing the Personal Cyber Protection Gap, 84% of insurance agents understand the importance of personal cyber insurance. … Read more