The Source for Cyber Insurance News, Insights and Data
Top News about Cyber Insurance
“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
Moody’s, the credit and risk rating company, surveyed 1,700 people from debt issuers representing $80 trillion in outstanding debt across “71 global sectors.” “Despite the higher cost of cyber insurance, only 3% of issuers said they planned to buy less cyber coverage in 2023 than in 2022. The vast majority (82%) plan to purchase about … Read more
The cyber insurance industry has long asserted that its underwriting processes, combined with security tech embedded in policies or supplied by third parties, will improve their clients’ security and impact the broader economy. Some carriers have provided statistics on breaches that appear to support the proposition. Cyber security company Netwrix tested this with a survey … Read more
Nord Security, a global leader in internet privacy and cybersecurity solutions announced that it has raised $100 million in a financing round led by Warburg Pincus. Existing investors Novator Ventures and Burda Principal Investments also participated in the round. Cyber insurance and the Nord Security investment The Nord Security investment is significant for the cyber … Read more