The Source for Cyber Insurance News, Insights and Data
We recently told you how one cyber insurance expert predicts the massive CrowdStrike-caused IT outage may change the cyber insurance industry, including by boosting demand for coverage of non-malicious losses, or non-criminal claims, such as business interruptions cause by software failures. The recent NetDiligence Cyber Claims Study 2024 (see our summary of other findings here) … Read more
With nearly half of small businesses lacking a cybersecurity budget in 2021, and over half having no cybersecurity measures in place by 2022, small businesses are increasingly becoming low-hanging fruit for cybercriminals, according to SentinelOne. As cyber insurance and security become essential new costs, rather than replacements for other expenses, Digital Beachhead is offering an … Read more
We’re fans of research from RPS/Risk Placement Services, the brokerage and MGA. Early this year, the firm predicted a correction in cyber pricing driven by factors such as increased fraud perpetrated by AI. But in its 2024 Q3 Cyber Market Update, RPS concedes the “market hardening” and price increases have not yet occurred. “Since the … Read more
Blumira and Trava Security have announced a strategic partnership aimed at helping small-to-midsize businesses (SMBs) manage cybersecurity challenges, such as limited budgets, insufficient cyber-skilled training among employees, and the steadily growing number of cyber-attacks. The rise in cybercrime has led many companies to invest in cybersecurity software. However, smaller businesses often struggle to access sophisticated … Read more
The energy, oil/gas and utilities sector has the highest level of cyber insurance coverage, with 97% of surveyed organizations reporting policies (most of them standalone.) The lowest adoption of cyber security coverage is found in the “Central/federal government” and IT, tech and telecom sectors. To be sure, even with the lowest penetration, these two sectors … Read more