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Top News about Cyber Insurance
Striking new findings suggest a significant percentage of companies lack cyber insurance despite ongoing and sophisticated threats posed by a range of cyberattack scenarios. The 2024 Cybersecurity Risk Managers Report reveals that 32% of companies surveyed do not have dedicated cyber insurance coverage, leaving them vulnerable to potentially devastating financial and operational impacts in the … Read more
Cybersecurity and insurance leaders should consider bringing in more psychologists to help overcome the challenges inherent in human behavior: overconfidence, narcissism, underestimating time requirements, and other traits that undermine effective cybersecurity. These human factors help explain why many organizations feel prepared for cyber threats but are still vulnerable. Kyndryl’s latest survey reveals a troubling gap … Read more
It might seem obvious that not all companies face the same cybersecurity risks, so their insurance needs should reflect these differences. This evolving landscape requires tailored security measures, and Gallagher Re’s latest study shows that by focusing on key risk factors, insurers can help companies strengthen their defenses and reduce overall insurance costs by lowering … Read more
The famous line goes, ‘To err is human; to forgive, divine.’ However, a more fitting line from Alexander Pope’s poem might be, ‘All seems infected that th’ infected spy.’ In the world of cybersecurity, the infection is phishing, and no one is immune. Last week, we reported on an Arctic Wolf report revealing a striking … Read more
CAC Group has launched CyberPeril Pro, a new cyber insurance solution tailored for the energy and utility sectors, responding to the increasing risks of cyberattacks on critical infrastructure. Recent incidents, such as the 2021 ransomware attack on Colonial Pipeline that caused fuel shortages across the U.S. East Coast, the 2023 Suncor Energy breach that disrupted … Read more