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Top News about Cyber Insurance
The UK insurance market showed significant softening in 2024, according to Aon’s UK Insurance Market Outlook. The report highlights key factors of insurer profitability, increased market capacity, and intense competition. These resulted in more favorable conditions for buyers across most sectors. Turning to cyber insurance. The UK cyber insurance market emerged as a standout area … Read more
Cloud Disruptions Rise Critical cloud outages rose by 18% in 2024, lasting nearly 19% longer than in 2023. Google Cloud experienced a 57% increase in downtime hours. Microsoft Azure improved, reducing downtime by over 20%. At the same time, Amazon Web Services (AWS) remained the most reliable among the top three providers. All this comes … Read more
NordProtect, a digital identity theft protection service from NordVPN, is now available as a stand-alone product in the United States. Previously, it was only accessible through NordVPN’s Prime plan. We have previously reported on credit monitoring, identity theft, Dark Web monitoring, online fraud and extortion, and the growing demand for personal cyber insurance. New Online … Read more
A new report from KnowBe4 highlights a troubling reality: the education sector is dangerously unprepared for an onslaught of cyberattacks. The report, titled From Primary Schools to Universities: The Global Education Sector is Unprepared for Escalating Cyber Attacks, reveals that schools and universities are prime targets due to various factors. These include sensitive data, outdated … Read more
According to S&P’s Cyber Risk Insights: Cyber Catastrophe Bonds Offer Greater Scope for Risk Mitigation, the cyber ILS market is poised for significant expansion. With rising demand for cyber insurance, interest in cyber insurance-linked securities (ILS) is growing. However, challenges such as policy standardization, investor education, and complex risk modeling may slow its progress. Cyber … Read more