The Source for Cyber Insurance News, Insights and Data
A bank customer checks their balance before having coffee. The screen loads quickly, and trust in the bank is just as fast. According to Integris, this trust is fragile. A single breach can make it disappear just as quickly. Security now shapes where people park their paychecks. Integris found that 51% chose their bank because … Read more
Independent Financial Advisors (IFAs) work with sensitive information like bank data, pension details, and investment records every day. This makes them a target for fraud and ransomware attacks. AI will only accelerate the risk. If a breach happens, it can lead to client notifications, regulatory investigations, and expensive business disruptions. Cyber insurance helps IFAs cover … Read more
Brit Group Holdings Limited has introduced FI Cyber Max, a consortium designed specifically to address cyber risks faced by large financial institutions. The offering streamlines insurance for complex cyber exposures, meaning it makes it easier for institutions to get coverage for incidents like data breaches and system disruptions. Brit said the structure aims to simplify … Read more
The global cyber insurance market size is positioned for strong long-term growth, but competitive challenges are increasing for re/insuers, according to recent analyses from Market Research Future and S&P Global Ratings. According to a Market Research Future report, the cyber insurance market size is projected to expand from $13.13 billion in 2024 to $126.89 billion … Read more
Financial Leaders Warn: Cyber Incidents Now Threaten Investor Confidence In financial services, trust equals capital. Once it’s broken, the path to recovery and restoration of trust can be daunting. Cyber insurance can absorb financial losses. But can it prevent client withdrawals or restore trust after an attack? Nearly nine in ten financial executives say a … Read more