The Source for Cyber Insurance News, Insights and Data
The global cyber insurance market growth is projected to rise from $16.66 billion in 2023 to $84.62 billion by 2030 according to the IMARC Group. The increasing number of cyberattacks and the need to protect critical assets are some of the key factors driving the growth of the market. The market is segmented by type, … Read more
A survey of almost 50,000 mortgage settlement agents indicates wire/cyber fraud is common in the mortgage process. While most agents say they have insurance to cover the risk, they also report banks usually do not require evidence of that insurance before engaging with them. This despite the risk to lenders of losing their money in … Read more
Recovering from a cyber attack can be costly. But there are many resources to educate you and protect you from the threat and the harm of a cyber security attack. The Federal Trade Commission (FTC) is a good resource for advice. Here are some of their tips on Cyber Insurance protection for small businesses. Cyber … Read more
David Drogin becomes senior vice president and head of US cyber. Recruiting capable cyber executives remains a priority for cybersecurity insurance companies as the sector continues its rapid growth. Mosaic said the hire was intended to ramp its cyber insurance offerings. The company began offering primary cyber insurance in May 2023, building on its excess cyber … Read more
Quantum computing is a rapidly developing field with the potential to revolutionize many industries. But revolution isn’t always for the good. It also poses serious security risks and businesses need to reexamine their cyber insurance protection. Quantum computers can break current encryption algorithms, which could allow hackers to access sensitive data. They could also be … Read more