The Source for Cyber Insurance News, Insights and Data
NetDiligence, a firm specializing in cyber risk readiness and response solutions, has released its thirteenth annual Cyber Claims Study, which provides insights into the real costs of data breaches and other cyber-related incidents from an insurer’s perspective. The study analyzes 9,000 claims spanning the period from 2018 to 2022, with 800 claims from 2022 alone. … Read more
Artificial intelligence (AI) is one of the most transformative technologies of our time. With this transformative power comes a number of new and emerging threats that bring cybersecurity and cyber insurance to the forefront. The Beazley Spotlight on Cyber and Technology Risks 2023 report states, “For the insurance industry, working with clients to help them … Read more
In an exclusive interview with PTI, Indian Prime Minister Narendra Modi called for global collaboration to combat cybercrime, which he said is a “growing threat” to all countries. Modi said that cybercrime can be used to fund terrorism, spread misinformation, and disrupt critical infrastructure. “Cybercrime is a growing threat to all countries,” Modi said. “It … Read more
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
Here at Cyber Insurance News, we focus on just that, Cyber Insurance. But we want to introduce topics and stories adjacent to insurance that focus on helping you understand the scope of the threat cyber crimes present. To that end, most Sundays, we are going to offer something a little outside our focus. But, we … Read more