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Top News about Cyber Insurance
Eye Security, a subscription-based cybersecurity and insurtech company, lands $17m+ round led by Bessemer Venture Partners. Partner Alex Ferrera notes on Twitter: “We’re betting cyber insurance + XDR (Extended Detection and Response) combined is the future.” Source: Dutch cybersecurity, insurtech startup Eye Security bags €17M to help SMEs fight cyberattacks | Silicon Canals
“Delinea, a leading provider of Privileged Access Management (PAM) solutions for seamless security, today published a new report showing that cyber insurance not only has become ubiquitous, but more than half of companies that have leveraged their coverage have used it more than once. As a result, insurers are pulling back on covering what is … Read more
“Cyber insurance premiums amount to just a fraction of total losses from cyber attacks, with estimates putting the protection gap at 90%. There is much work to do to ensure sufficient risk protection is available to make society more resilient to cyber risk, and this effort will require collaboration between businesses, the insurance industry and … Read more
“During an XChange session titled ‘What An MSP Needs To Know About Cyber Insurance,’ …Paul Vedder, managing director of Palm Beach Grardens, Fla.-based VXI…agreed that compliance is becoming a larger segment of their business relationships with customers. Vedder, responding to questions from panel moderator Jim King of Atlantic Pacific Insurance, said that MSP personnel need … Read more
The OPED identifies the issue, but in our opinion is light on solutions. The writer suggests companies publicize their cyber risk controls: “Demonstrating such preparedness will appeal to shareholders and customers and attract new ones.” Many industry insiders may prefer to focus on pushing government programs to back-stop private insurance when state-sponsored attacks occur. “State-sponsored … Read more