The Source for Cyber Insurance News, Insights and Data
Embroker has announced a strategic partnership with Millennial Shift Technologies (MShift), a policy distribution platform for insurance brokers. This partnership introduces an automated Excess Technology Errors and Omissions (Tech E&O) / Cyber solution via Embroker Access. Excess Technology Errors and Omissions (Tech E&O) insurance provides additional coverage beyond the limits of a primary Tech E&O … Read more
According to a SkyQuest Technology report, the global cyber insurance market, valued at $12.94 billion in 2022, is poised for exponential growth. Analysts forecast the market to expand from $16.21 billion in 2023 to an astounding $100.62 billion by 2031, driven by a robust compound annual growth rate (CAGR) of 25.70% over the forecast period. … Read more
Netwrix, a cybersecurity solutions provider, has unveiled alarming statistics from its 2024 Hybrid Security Trends Report, focusing on the managed service provider (MSP) sector. According to the report, a staggering 76% of MSPs detected cyberattacks on their systems in the past year, mirroring the broader trend across all industries surveyed. Managed Service Providers (MSPs) offer … Read more
The energy, oil/gas and utilities sector has the highest level of cyber insurance coverage, with 97% of surveyed organizations reporting policies (most of them standalone.) The lowest adoption of cyber security coverage is found in the “Central/federal government” and IT, tech and telecom sectors. To be sure, even with the lowest penetration, these two sectors … Read more
The Howden 2024 Cyber Report reveals a dynamic and evolving cyber threat landscape. According to NCC Group data, the frequency of ransomware attacks surged by 85% over the past year. This rise follows a dip due to geopolitical disruptions like Russia’s invasion of Ukraine. Ransomware remains the most costly form of cyber attack, driven by … Read more