The Source for Cyber Insurance News, Insights and Data
Eye Security, a subscription-based cybersecurity and insurtech company, lands $17m+ round led by Bessemer Venture Partners. Partner Alex Ferrera notes on Twitter: “We’re betting cyber insurance + XDR (Extended Detection and Response) combined is the future.” Source: Dutch cybersecurity, insurtech startup Eye Security bags €17M to help SMEs fight cyberattacks | Silicon Canals
Australia’s Home Affairs Minister said the government is considering just such a move, following a dramatic ransomware attack (where the victim did not pay ransomware and had no cyber insurance). A recent study reports that ransomware payments are far from guaranteed to produce system recovery. “(T)he Veeam report said: ‘One of the more notable statistics … Read more
Premiums are growing less dramatically as the market adjusts to the increase in ransomware attacks and claims. This includes demands by carriers for clients to demonstrate strong security controls and monitoring. “With higher payouts by insurers came premiums rising at steeper rates. ‘It was kind of nasty there for a little bit,’ said Robert Parisi, … Read more
In our opinion, the report’s authors are diplomatic in their summary: “The K-12 community displayed an overall average maturity score of 3.55 on the 2021 NCSR’s 1 through 7 maturity scale. Results from the Nationwide Cybersecurity Review (NCSR) risk-based assessment have shown the K-12 sector is improving in its cybersecurity capabilities over time, though the … Read more
Australian health insurance provider Medibank Private Ltd. refused to pay ransom. Now hackers are releasing records from some of the app. 10 million customers whose data was compromised. “Following through on a threat, the hackers began publishing the most private medical details of some of Medibank’s customers, including terminated pregnancies, treatment for drug and alcohol … Read more