The Source for Cyber Insurance News, Insights and Data
A new IBM report on data breaches found that the global average cost of a data breach has risen to $4.45 million. This is a 15% jump from 2022. The 2023 report also finds that the cost of detection and escalation has increased by 42% over the past three years. This represents the highest portion … Read more
Consistent with other recent reports, S&P Global Ratings finds global cyber insurance premiums surging, about $12 billion last year and headed to almost twice that by 2025. At the same time, increases in premium rates have moderated. The cybersecurity market has “returned to profitability,” accord to S&P. The news is less positive concerning reinsurers, which … Read more
Cyberattacks are becoming increasingly common and costly. In 2017, one of the largest cyber insurance claims ever paid was a whopping $100 million, paid out to Mondelez International. Mondelez is a multinational confectionery, food, and beverage company with brands such as Oreo, Cadbury, and Trident. $100 million claim The cyberattack on Mondelez was a ransomware … Read more
Our headline is a bit sarcastic, but it captures the findings of a survey covering more than 300 enterprises by Delinea, a provider of Privileged Access Management (PAM) solutions. The report provides insights on cyber insurance cost and time required to get a policy. The survey reports that almost 80% of companies saw their cyber … Read more
It should but may not, according to this report. There’s legal risk from pixels and biometrics. Pixels track users’ online activities and are the source of growing litigation, including large class actions against Meta. Biometrics support useful security technologies, but often require written consent from users, who may also need to be informed about the … Read more