The Source for Cyber Insurance News, Insights and Data
In an era dominated by technology, the specter of a cyber catastrophe looms large, posing a threat not fully comprehended. Companies are racing to bolster cyber resilience, and insurers are crafting solutions to these escalating risks. In the Q&A, shared by Chubb, Michael Kessler, Vice President, Chubb Group and Division President, Global Cyber Risk, discusses … Read more
The Data Health Check 2023 report, released by Databarracks, highlights the growing importance of cyber insurance. Cyber-attacks are now the leading cause of IT downtime and data loss. In 2023, ransomware remained a huge problem. Over half of organizations experienced a cyber-attack last year. More than two-thirds of companies could only survive less than one … Read more
Hanover Specialty’s new report reveals that small- and mid-sized businesses generally lack preparedness for the increasing threat of a cyberattack, even though they have high confidence in their organization’s cybersecurity posture. The report, titled “2023 Cyber Resiliency Report,” found that only 7% of small- to mid-sized businesses think it’s very likely that a cyberattack will … Read more
Sophos, a leader in cybersecurity services, has unveiled a new development for businesses in the United Kingdom. Building on their partnership launched in the United States earlier this year, Sophos is teaming up with Cowbell, a provider of cyber insurance tailored for small and medium-sized enterprises (SMEs). The partnership aims to introduce adaptive cyber insurance, … Read more
In a startling revelation, Lloyd’s, the world’s premier insurance and reinsurance marketplace, has unveiled a systemic risk scenario that paints a grim picture of the global economy’s susceptibility to a major cyber attack. This hypothetical envisions a cyber strike on a major financial services payments system, leading to widespread disruption in global operations. The potential … Read more