The Source for Cyber Insurance News, Insights and Data
Stellar Cyber has launched its RiskShield Cyber Insurance Program, tailored for Managed Security Service Providers (MSSPs) and their clients. The program, created in partnership with Converge Insurance, integrates cyber insurance with Stellar Cyber’s Open XDR platform to help streamline risk assessments and enable MSSPs to offer customized insurance coverage. The program’s key feature, the Stellar … Read more
Coterie Insurance has introduced cyber insurance to its platform through a partnership with Berkley Re Solutions and TransUnion. The new offering aims to provide small businesses with additional protection against the increasing risk of cyberattacks, which have reached record levels in 2023, according to the HIPAA Journal. Berkley Re Solutions will supply custom risk management … Read more
In the rapidly evolving cyber threat landscape, the year 2024 has seen a dramatic increase in ransomware attack severity, according to Coalition’s newly released 2024 Cyber Claims Report: Mid-year Update. The report reveals that while the overall frequency of ransomware attacks decreased, the financial impact of each successful attack soared by 68%, with the average … Read more
In the first half of 2024, the global landscape of cyber insurance has seen a marked rise in both the frequency and severity of cyber claims, driven by increasing data breaches and privacy violations. According to Allianz Commercial’s 2024 Cybersecurity Resilience report, large cyber claims — defined as those exceeding €1 million — rose 14% … Read more
Meeting cyber insurance policy demands is an evolving reality as organizations face increasing cyber threats across both on-premises and cloud environments. “In 2024, 48% of organizations had to make changes to their security posture to meet the criteria of the cyber insurance policy they chose,” said Michael Tweddle, Chief Product Officer at Netwrix. In response, … Read more