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The Leading Source for Cybersecurity Insurance News, Insights and Data

Innovation, Models, and Policy Standards Can Propel Growth in Cyber Cat Bonds and ILS: Geneva Association

Posted on December 13, 2024December 13, 2024 By Martin Hinton

Cybersecurity risks are escalating as businesses embrace digitalization, creating one of the most urgent challenges of our time. Cyber incidents, including ransomware attacks and data breaches, have topped global risk…

Read More “Innovation, Models, and Policy Standards Can Propel Growth in Cyber Cat Bonds and ILS: Geneva Association” »

Cyber Insurance, Reinsurance, Risk Modeling

CFC Appoints Michael Lewis Cyber Development Manager in Australia

Posted on December 13, 2024December 13, 2024 By Martin Hinton

Michael Lewis will join CFC in January 2025 as Cyber Development Manager. This appointment strengthens CFC’s cyber team in Australia. He spent two years at Emergence Insurance as a business…

Read More “CFC Appoints Michael Lewis Cyber Development Manager in Australia” »

Cyber Insurance, Cyber Insurance People

97% of Top U.S. Banks Hit by Third-Party Data Breaches in 2024 – SecurityScorecard

Posted on December 13, 2024December 13, 2024 By Martin Hinton

I read it and thought this isn’t new, “97% of Leading U.S. Banks Impacted by Third-Party Data Breaches in 2024.” I went to check on SecurityScorecard’s website. I was wrong;…

Read More “97% of Top U.S. Banks Hit by Third-Party Data Breaches in 2024 – SecurityScorecard” »

Cyber Insurance, Cybersecurity, Cybersecurity Report

CISOs Beware: Derive Declares the “Dying Breed” Era of Cybersecurity Leadership

Posted on December 12, 2024December 12, 2024 By Martin Hinton

Chief Information Security Officers (CISOs) might want to polish off their resumes. Cybersecurity firm Derive suggests the CISO role could become a “dying breed.” The Virginia-based company has launched a…

Read More “CISOs Beware: Derive Declares the “Dying Breed” Era of Cybersecurity Leadership” »

Cyber Insurance, Cybersecurity

Lloyd’s of London and HITRUST Launch Cyber Insurance Consortium

Posted on December 12, 2024December 12, 2024 By Martin Hinton

Lloyd’s of London has launched a standalone cyber insurance consortium with HITRUST and an association of AA-rated carriers. The program offers HITRUST-certified organizations broader coverage, lower premiums, and a simplified…

Read More “Lloyd’s of London and HITRUST Launch Cyber Insurance Consortium” »

Cyber Insurance

Beyond Social Media’s Risks: Identity Theft Targets Kids Online

Posted on December 11, 2024December 11, 2024 By Martin Hinton

As if online predators and the adverse effects of social media on children’s development weren’t enough to keep parents awake at night, the digital age has added a new nightmare…

Read More “Beyond Social Media’s Risks: Identity Theft Targets Kids Online” »

Cyber Insurance, Cybersecurity, Cybersecurity Report, Personal CyberSecurity

Cyber Insurance Industry Presents New Opportunities for Tech Service Providers, Says Info-Tech

Posted on December 11, 2024December 11, 2024 By Martin Hinton

The challenges of cyber risk assessment and cyber insurance are transforming the cybersecurity landscape, with technology service providers (TSPs) playing a pivotal role taking on these issues and improving the…

Read More “Cyber Insurance Industry Presents New Opportunities for Tech Service Providers, Says Info-Tech” »

Cyber Insurance

Zero Networks Expands Leadership Team With Three Senior Appointments

Posted on December 11, 2024December 11, 2024 By Martin Hinton

Zero Networks Leadership has a new look with the announcement of three senior hires to advance product development and global growth. The company hired industry veterans. They have experience in…

Read More “Zero Networks Expands Leadership Team With Three Senior Appointments” »

Cybersecurity, Cybersecurity people

Envelop Risk Surpasses $1 Billion Milestone in Gross Written Premiums, Secures Extended Backing from MS Reinsurance

Posted on December 10, 2024December 10, 2024 By Martin Hinton

Envelop Risk, a leading cyber reinsurance and analytics firm, has surpassed $1 billion in gross written premiums (GWP) since its 2018 launch. The company achieved a compound annual growth rate…

Read More “Envelop Risk Surpasses $1 Billion Milestone in Gross Written Premiums, Secures Extended Backing from MS Reinsurance” »

Cyber Insurance

Option3 Appoints Karl P. Kilb III as Chief Strategy Officer for ENIGMA Zero Trust Platform

Posted on December 9, 2024December 9, 2024 By Martin Hinton

Option3, a cybersecurity private equity firm, has named Karl P. Kilb III as Chief Strategy Officer (CSO) for its ENIGMA Zero Trust platform. He brings over 30 years of experience,…

Read More “Option3 Appoints Karl P. Kilb III as Chief Strategy Officer for ENIGMA Zero Trust Platform” »

Cybersecurity, Cybersecurity people

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Cyber Insurance News
Discover the escalating cyber threats targeting industrial sectors in 2025. According to Honeywell's latest Cybersecurity Threat Report, ransomware attacks have surged by 46% in Q1 2025, with 2,472 incidents reported. Notably, the W32.Worm.Ramnit trojan has seen a 3,000% increase, accounting for 37% of malicious files detected. USB devices remain a significant vulnerability, with 1,826 unique threats identified, including 124 new malware strains.

Key Highlights:

Ransomware-as-a-Service (RaaS) is increasingly targeting Operational Technology (OT) systems.

USB exploitation was involved in 25% of recent incidents.

Critical sectors at risk include energy, water treatment, transportation, and agriculture.

Human error and poor privilege management contribute to over 60 cases of unauthorized access.

Potential economic impact includes $1.5 trillion in downtime for U.S. firms.

Recommendations:

Implement Zero Trust Architecture.

Enforce Multi-Factor Authentication (MFA).

Utilize AI-powered threat detection.

Conduct regular vulnerability assessments.

Ensure backups use air-gapped storage.

Stay informed and proactive against growing cyber threats. Secure your industrial environment now before it's too late.

#IndustrialCybersecurity #Ransomware2025 #OTSecurity #USBThreats #HoneywellReport #CyberRisk #ZeroTrust #CriticalInfrastructure #CyberAwareness #SCADASecurity
Industrial Cybersecurity in 2025: Ransomware Surge & USB Threats Exposed
In this clip from Episode #EP-6 of Cyber Insurance News Podcast, host Martin Hinton is joined by guest Dan Candee, CEO of Cork Protection, to break down the often-confusing acronyms MSP (Managed Service Provider) and MSSP (Managed Security Service Provider).

🔍 Dan explains how these service providers play a crucial role in modern business — supporting IT infrastructure, cybersecurity, cloud services, and more — in a clear, relatable way.

👨‍💻 Whether you're a small business owner, entrepreneur, or just trying to make sense of cybersecurity, this clip offers valuable insights into how to secure your business with the right tech partners.

✅ Topics Covered:

What MSPs and MSSPs really do

Cybersecurity made simple with real-world analogies

Why modern businesses rely on managed service providers

Protecting your data, brand, and reputation

🎧 Subscribe for more expert insights into cybersecurity, tech, and cyber insurance trends.

#CyberSecurity #MSP #MSSP #SmallBusinessTech #CyberInsurance #CyberRisk #ManagedServiceProvider #BusinessSecurity #CorkProtection #DanCandee #CyberProtection #TechSimplified
Cybersecurity for Small Business - MSP vs MSSP Explained | Dan Candee Simplifies A Jargon-Rich Space
In this clip from our latest podcast, Dan Candee, CEO of Cork Protection, discusses a critical component of SMB cyber resilience—the evolving role of cybersecurity insurance. Dan highlights the need for nimbleness in cyber coverage, especially for small businesses that often bear the brunt of devastating attacks.

💬 Quote Highlight:
"At the end of the day, my business is to serve the SMB market... who is providing the most value fastest." – Dan Candee, CEO Cork Protection.

#CyberResilience, #CyberSecurity, #SmallBusinessSecurity, #SMBProtection, #DigitalSafety, #CyberInsurance, #InsurTech, #MSPCommunity, #TechForSMBs, #CyberThreats, #DanCandee, #CorkProtection, #PodcastClip, #CybersecurityPodcast, #FastResponseInsurance, #BusinessTips, #EntrepreneurAdvice, #TechTalks, #DataProtection, #InsuranceTrends
Cyber Insurance for SMBs – What Needs to Change? | Dan Candee Interview
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