The Source for Cyber Insurance News, Insights and Data
Top News about Cyber Insurance
NetDiligence, a firm specializing in cyber risk readiness and response solutions, has released its thirteenth annual Cyber Claims Study, which provides insights into the real costs of data breaches and other cyber-related incidents from an insurer’s perspective. The study analyzes 9,000 claims spanning the period from 2018 to 2022, with 800 claims from 2022 alone. … Read more
In today’s increasingly digital world, it’s more important than ever to protect yourself and your business from cyber threats. That can prove very difficult. The World Economic Forum finds that 95% of cybersecurity incidents occur due to human error. The impact on individuals and organizations can be deep and lasting. Few people relish having been … Read more
The dawn of SEC-required cyber disclosures seems sure to increase litigation, as we’ve reported. Could the kind of cyber risk management now required by most cyber liability insurers provide some protection from the plaintiff’s bar? Liberty Mutual thinks so. “Cyber risk management strategies can help mitigate the likelihood of falling victim to an attack; but … Read more
“Clorox so far has spent $25 million to respond to a suspected ransomware attack, including hiring forensic investigators and legal and technology help. More cyber expenses are expected to arise in 2024, the company said,” according to this Wall Street Journal report (paywall may apply). From the Clorox 8K of 10/4/23. “Cybersecurity Attack Costs Beginning in … Read more
Cowbell, which offers an AI-driven cyber insurance platform for small-and-medium businesses, has been one of the most high-profile players in the emerging cyber insurance industry. The company has ramped up clients and revenue rapidly while attracting large investments. But Cowbell has now announced layoffs. “I am announcing a 12% reduction of our current workforce, which … Read more