The Source for Cyber Insurance News, Insights and Data
Vanta and Vouch have launched an embedded cyber insurance solution, enabling Vanta customers to purchase and manage cyber insurance coverage directly within the Vanta platform. This new feature aims to streamline securing insurance against cyber incidents, such as data breaches and ransomware attacks while helping companies meet SOC 2 compliance requirements. SOC 2, or Service … Read more
NetDiligence has unveiled its fourteenth annual Cyber Claims Study, offering a comprehensive analysis of over 10,000 cyber insurance claims reported between 2019 and 2023. The report highlights emerging trends in cyber risk across a wide range of industries, focusing on the financial burdens faced by organizations, particularly small to medium-sized enterprises (SMEs). This year’s study, … Read more
Here it is—Your Cyber Insurance Sunday—Upload. The latest cybersecurity insurance news. A few items from the week. Some from us, some from others: Delinea on the importance of Identity; Coalition grows; Bermuda Monetary Authority with a must-read report; Hartford Steam Boiler’s personal cyber insurance; A concerning report on Britian’s National Crime Agency (NCA); And a … Read more
The cyber insurance market is undergoing significant changes, driven by the increasing scale and sophistication of cyberattacks worldwide. The Bermuda Monetary Authority’s (BMA) 2023 Bermuda Cyber Underwriting Report highlights how emerging technologies, such as generative AI, heighten cyber risks by enabling more sophisticated and targeted attacks. This shift has fueled a surge in demand for … Read more
Recent and historical data incidents, such as the 2021 Colonial Pipeline ransomware attack and the 1998 near-loss of Pixar’s Toy Story 2, underscore the critical importance of robust data backup strategies. The Colonial Pipeline attack, which disrupted oil supplies and forced the company to pay a $4.4 million ransom, exposed vulnerabilities in data protection. Meanwhile, … Read more