Skip to content

Cyber Insurance News

The Leading Source for Cybersecurity Insurance News, Insights and Data

Penetration Testing To Grow With Cyber Insurance – Report

Posted on October 13, 2023October 13, 2023 By Martin Hinton

According to a new report by SNS Insider, the global penetration testing market anticipates reaching USD 4.13 billion by 2030, with a projected CAGR of 13.42% from 2023 to 2030. Several factors propel this growth, such as the rising sophistication of cyberattacks, the expanding embrace of cloud computing and mobile devices, and the growing demands of regulatory compliance.

Penetration testing is a cybersecurity technique that involves simulating a cyberattack on a system or network in order to identify vulnerabilities. It can be a valuable tool for businesses of all sizes, as it can help them identify and remediate vulnerabilities before attackers exploit them.

Cyber insurance providers are increasingly recognizing the importance of testing. Many insurers now offer discounts or other incentives to businesses that regularly conduct penetration tests. In some cases, insurers may even require businesses to undergo the process before issuing a cyber insurance policy.

Cyber insurance is a type of insurance that protects businesses from financial losses resulting from cyberattacks. Cyber insurance policies typically cover a wide range of expenses, such as the costs of data recovery, business interruption, and regulatory fines.

Trends:
  • The increasing frequency and severity of cyberattacks.
  • The growing adoption of cloud computing and mobile devices has created new attack vectors for cybercriminals.
  • The increasing regulatory compliance requirements mandate that businesses regularly conduct penetration tests in order to protect their customers’ data.
  • The report also identifies a number of challenges that are facing the testing market. These challenges include:
  • The shortage of qualified penetration testers.
  • The high cost of services.
  • The lack of awareness among businesses of the importance of penetration testing.

Despite these challenges, the market is poised to sustain growth in the coming years with yhe increasing demand for penetration testing services from cyber insurance providers. Additionally, growing awareness among businesses of its importance will be the driving forces behind this growth.

Summary:

The market expects substantial growth in the coming years, primarily propelled by the rising demand for penetration testing services from cyber insurance providers. Cyber insurance providers are increasingly acknowledging the crucial role of penetration testing in aiding businesses to identify and address vulnerabilities before attackers exploit them.

Get the Report here.

Other News: C-suite Cybersecurity Gap Leaves Businesses Exposed(Opens in a new browser tab)

Cyber Insurance Reports Tags:cyber insurance, Penetration Testing, SNS Insider

Post navigation

Previous Post: USQRisk Launches Pera, a Managing General Agent Insuring Cyber-Related Risk
Next Post: New SEC Disclosure from MOVEit Owner Reveals Gory Details of Cyber Insurance Coverage, Lawsuits & SEC Subpoena

Related Posts

  • Cyber Insurers Stress-Tested by Bank of England Get Grade We Used to Receive in School: “Needs Improvement”  Cyber Insurance Best Practices
  • Bermuda’s Cyber Insurance Market Growth Amid Rising Cyber Risks – Report Cyber Insurance
  • Cyber Insurance for Municipalities — Just as Challenging as Corporate Policies, If Not More So  Cyber Insurance
  • New York Cybercrime Report Shows 53% Increase in Attacks Since 2016 Cyber Insurance Reports
  • Cyber Insurance Premiums Last Year  Approached $14 Billion in Increasingly Fragmented Market: Insuramore Cyber Insurance Carriers & Brokers
  • Scenarios for the Future of Cyber Insurance: Report from Conning  Cyber Insurance Best Practices

Get the Cyber Insurance Newsletter

Receive weekly updates on the top news on cyber insurance.

Cyber Insurance News

Cyber Insurance News
In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

🛡️ With a background in enterprise-level cybersecurity on Wall Street and a personal connection to small business through his family, Dan shares why Cork focuses on protecting small and mid-sized businesses from rising cyber threats.

🚨 "The threat actors are getting better, and they're coming after Main Street more and more."

👉 Discover why Main Street is being underserved in today's digital threat landscape and how Cork is filling that gap with a unique value proposition.

🔗 Learn more about Cork: corkinc.com
🎧 Full Podcast Episode: www.youtube.com/@CyberInsuranceNews/podcasts

📣 Don't forget to LIKE, SUBSCRIBE, and hit the 🔔 notification bell so you never miss a powerful conversation.

#Cybersecurity #SmallBusiness #MainStreet #DanCandee #CorkProtection #TechForGood #SMBs #PodcastClip #CyberThreats #BusinessSecurity
Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

We explore:
• Why Main Street is more vulnerable than Wall Street
• Common SMB cybersecurity blind spots (like ACH fraud)
• The evolving role of managed service providers
• How Cork Protection blends cybersecurity and cyber insurance
• Real-world attack case studies and practical advice for SMBs

Whether you’re a small business owner, MSP, or cyber pro, this episode unpacks how to prepare, prevent, and protect your organization in today’s digital world.

📌 Topics: cybersecurity, cyber insurance, social engineering, SMB protection, ransomware, AI in security, MSPs

🎙 Guest: Dan Candee, CEO of Cork Protection
📢 Host: Martin Hinton, Executive Editor, Cyber Insurance News

👉 Don’t forget to like, comment, and subscribe for more insights on cyber insurance and digital defense!

#CyberSecurity #CyberInsurance #SMB #AI #CyberPodcast #BusinessResilience #smallbusiness #sme
00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
21:52 The Future of Cybersecurity and Community Resilience
26:05 MSP/ MSSP The Lingo decoded
29:05 Finals Thoughts and a bit of Hope!
SMBs Are Cyber Targets | Dan Candee on Cyber Resilience & AI | Cyber Insurance News Podcast EP#6
Cyberattack on Small Business is on the rise—and AI is making it worse. In this episode of the Cyber Insurance News Podcast, host Martin Hinton sits down with William Altman of CyberCube to unpack how AI is enabling threat actors to more efficiently target and exploit small businesses.

🔐 From credential stuffing to brute force attacks, William explains how cybercriminals use AI to bypass login portals and MFA solutions—putting millions of small business owners at risk.

🎙️ Timestamps:
0:00 - Introduction
6:26 - William Altman on AI and threat actors
6:50 - Credential stuffing, brute force & reused credentials
10:00 - What small businesses can do right now
14:20 - The future of AI in cybercrime

🎧 Don’t miss this crucial update on the cybersecurity landscape for small businesses. Subscribe and stay informed.

#cyberattack #smallbusiness #AI #cybersecurity #CyberCube
Cyberattack on Small Business: How AI Supercharges Cyber Threats | William Altman @CyberCube"
Load More... Subscribe

Categories

  • 8-K
  • AI & Cyber Insurance
  • AI & Cybersecurity
  • Critical Infrastructure cyber insurance and security
  • Cyber Cat Bonds/Cyber Catastrophe Bonds
  • Cyber Insurance
  • Cyber Insurance APAC
  • Cyber Insurance Best Practices
  • Cyber Insurance Captive
  • Cyber Insurance Carriers & Brokers
  • Cyber Insurance Claims
  • Cyber Insurance EU
  • Cyber Insurance Financial Institutions
  • Cyber Insurance for Government
  • Cyber Insurance for Healthcare
  • Cyber Insurance for Schools
  • Cyber Insurance for SMEs/SMBs
  • Cyber Insurance For Startups
  • Cyber Insurance for Utilities
  • Cyber Insurance Geographic Markets
  • Cyber Insurance Industry Groups
  • Cyber Insurance Investments and M&A
  • Cyber Insurance Jobs
  • Cyber Insurance Laws & Regulations
  • Cyber Insurance Litigation
  • Cyber Insurance Market Size
  • Cyber Insurance MENA
  • Cyber Insurance News & Information Podcst
  • Cyber Insurance People
  • Cyber Insurance Policies & Strategies
  • Cyber Insurance Premiums
  • Cyber Insurance Reports
  • Cyber Insurance Settlements
  • Cyber Insurance Sunday – Upload
  • Cyber Insurance Systemic Risks
  • Cyber Insurance Tech
  • Cyber Insurance Threats
  • Cyber Insurance UK
  • Cyber Insurance Underwriting
  • Cyber Insurance Wholesaler
  • Cyber Regulations
  • Cyber War Exclusions
  • Cybersecurity
  • Cybersecurity and Credit Ratings
  • Cybersecurity for SMBs
  • Cybersecurity in Education
  • Cybersecurity Investment
  • cybersecurity jobs
  • cybersecurity M&A
  • Cybersecurity people
  • Cybersecurity Report
  • Cybersecurity Training
  • Department of Homeland Security
  • EU Cybersecurity
  • Insurance Linked Securities/ILS
  • Insurance Loss Warranty contract/ILW
  • Managed Service Providers
  • National Association of Insurance Commissioners' (NAIC) model cybersecurity law
  • Non-criminal Claims/Non-Malicious Claims
  • Opinion/Commentary
  • Personal Cyber Insurance
  • Personal CyberSecurity
  • Ransomware Insurance
  • Reinsurance
  • Risk Modeling
  • SEC Cyber Disclosure Rule
  • Small Business
  • Supply Chain Cybersecurity And Insurance

Send Ideas, Requests & Comments




    Tags

    AI AI in Cybersecurity Artificial Intelligence At-Bay Beazley CFC Chubb Cloud Security Coalition Corvus Cowbell Cowbell Cyber crowdstrike cyber attack Cybercrime CyberCube cyber insurace cyber insurance cyberinsurance cyber insurance for small businesses Cyber Insurance Market Cyber liability Insruance cyber liability insurance cyberliabilityinsurance Cyber Resilience Cyber Risk Cyber Risk Management cyber security Cybersecurity cybersecurity insurance Cyber threats Data Breach Data Breaches Howden Lloyds Marsh Microsoft personal cyber insurance phishing Ransomware Ransomware Insurance Resilience Risk Management SecurityScorecard small business
    • Cyber Insurance Books
    • Cyber Insurance Reports & Documents
    • Cyber Insurance Acronyms/Terms
    • Cyber Insurance Companies: Carriers, Brokers & Vendors
    • Industry Response: Potential Federal Insurance Response to Catastrophic Cyber Incidents
    • Ransomware Insurance
    • How Much Is Cyber Insurance?
    • Considerations for Buying Cyber Insurance
    • Cyber Liability Insurance Near Me
    • Cyber Insurance Quote
    • Newsletter
    • Legal Analysis & Full Text of 2023 SEC Rule: Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure
    • Glossary
    • About Cyber Insurance News
    • Privacy Policy

    • Cyber Cat Bonds Hold Up in Secondary Market; More Expected Cyber Insurance
    • Cyber Policyholders Better Plan Ahead for Subrogation Actions Following a Hack  Cyber Insurance Best Practices
    • Group-IB Partners with NSSG to Bolster Cybersecurity in the Middle East Cybersecurity
    • AI-Powered Cyberattacks Surge in 2024: Ransomware Trends and 2025 Cybersecurity Predictions AI & Cyber Insurance
    • The Largest Cyber Insurance Claim Ever Paid? Cyber Insurance
    • CyberArk Report Reveals Employee Behaviors Pose Widespread Cybersecurity Risks That Can Sink Companies Cyber Insurance
    • FifthWall Closes $5 Million A Round; Cyber Insurance Wholesaler Announces New Executives Cyber Insurance
    • Zurich Unveils AI-Powered Cyber Security Services with CYE: Boost Your Defenses & Enhance Cyber Insurance Coverage AI & Cyber Insurance

    Related Cybersecurity Sites

    http://www.whatiscyberliability.com

    https://www.whatiscyberinsurance.com

    http://www.ddosattacktutorial.com

    http://www.ransomwareremovaltool.com

    Our Privacy Policy: https://cyberinsurancenews.org/privacy-policy/

    Copyright © 2024 Cyber Insurance News.

    Powered by PressBook Premium theme