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“12% (of 180 IT/cybersecurity professionals surveyed in June) had no idea whether ransomware is covered at all” in their cyber insurance policies.” About 28% of the respondents said their company…
Read More “Some IT Pro’s Confused About Their Cyber Insurance: InformationWeek Survey” »
The round adds to $225 million already raised by the company. The round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, with participation by Lightspeed Venture…
“Over a 12-month research project, researchers from RUSI (Royal United Services Institute for Defence and Security Studies), the University of Kent, De Montfort University and Oxford Brookes University conducted a…
Read More “Conventional Wisdom on Cyber Insurance & Ransomware is Wrong: British Think Tank ” »
“While an insurance company may pay a ransom to get file decryption keys, ‘they won’t pay an extortion fee,’ Wisniewski said. ‘The conventional wisdom of insurers has been, ‘I’m buying…
Yes, says Veeam’s survey of 1,2000 IT pros from companies hit by ransomware last year. In 2022, “77% of ransoms were paid by insurance, but that is becoming harder and…
Read More “Ransomware Increasingly Being Excluded from Cyber Insurance Policies?” »
“While many companies have already started to incorporate general disclosure of cyber liability insurance in their discussion of cyber risks, we should expect to see this continue, especially as coverage…
Read More “Expect More Disclosures from Public Companies Concerning Their Cyber Insurance ” »
“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…
Read More “Hackers Get Trickier as Companies & Cyber Insurers Improve Their Defenses ” »
The magazine surveyed brokers, who provided the Top 10 list of criteria most important to brokers’ analysis of cyber insurers. The Top 5: coverage, claims payment/processing, underwriting expertise, cyber response…
Read More “Top Cyber Insurance Companies in the USA, According to Insurance Business America ” »
This interesting report provides the “tick tock” of a ransomware attack on a small US bank, including the role of cyber insurance in the recovery. The details reveal the bank…
Read More “The Nightmare of a Ransomware Attack, Community Bank Version ” »
“(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…