Here it is – Your Cyber Insurance Sunday – Upload— A few items from the week. Some we reported on, and others we found interesting. News out of Brazil for Latin American SMEs, Multiple reports on the financial future of cyber liability insurance, and the UnitedHealth Group hack, much to consider. Finally, if cybercrime were a nation, its estimated global damages of $6 trillion USD in 2021 would rank it as the third-largest economy in the world, trailing only the United States and China. There’s more. Take a look. Share it. Enjoy the reads. Enjoy the day!
- Cyber liability news for SMEs in Latin America – Brazilian Insurtech Startup Bluecyber Secures $1.5 Million to Expand Cyber Insurance in Latin America.
- Two looks at the future of the cyber coverage market. Short take: It’s going up! Cyber Insurance: A Dynamic Market with a Promising Future.
- Small and medium businesses are seeing more options. SMBs Get Easier Access to Cyber Insurance with SaaS Alerts and FifthWall Solutions.
- New Jersey looking hard at the danger of cyber crime. “With a new threat assessment report, state CISO Michael Geraghty recently raised warnings about cyber attacks with systemic impacts, geopolitical hacktivism and more“.
- Butler PA buys cyber coverage from Beazley. City agrees to purchase cyber insurance.
- Data breach – Data breach, we see you. Over 30,000 individuals have been left vulnerable after a third-party data breach involving Fidelity Investments Life Insurance Company.
- A triad of takes on the UnitedHealth Group breach; First, Hackers claim Minnesota-based UnitedHealth Group paid $22M ransom for patient, employee data, reports say. Cyberattacks on insurance giants are disrupting the business of doctors and therapists. Finally, Insurer delays and denials hamper patients seeking at-home breathing machines.
- Not your ancestors’ pirates. Cyberattacks: how can maritime address the growing cyber threat?
Kicker
It’s not new, but most weeks, stats, takes, and notions on the scale of cybercrime pass us by, and every time, we think it newsworthy. Cybercrime To Cost The World $10.5 Trillion Annually By 2025. Think about this: Were cybercrime a nation, its estimated global damages of $6 trillion USD in 2021 would rank it as the third-largest economy in the world, trailing only the United States and China.