Cybersecurity

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

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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 charts, leaving many businesses scrambling for solutions. Despite the exponential growth of the cyber insurance market—premiums soared from $1.5 billion in 2013 to $15 billion … Read more

CFC Appoints Michael Lewis Cyber Development Manager in Australia

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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 development underwriter. He will operate from CFC’s office in Melbourne. Lewis’s role is CFC’s first dedicated cyber business development position in Australia. His focus will … Read more

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

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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; it is new, and I’d confused it with this press release from last month, “97% of Top U.S. Retailers Experienced a Third-Party Breach.” While my … Read more

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

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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 next-generation platform it claims can replace CISOs with data-driven insights. Derive’s Cyber Risk Quantification (CRQ) platform promises to redefine cybersecurity leadership. The system quantifies cyber … Read more

Lloyd’s of London and HITRUST Launch Cyber Insurance Consortium

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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 cyber insurance experience. The initiative rewards HITRUST-certified organizations with advantages such as competitive insurance rates, streamlined underwriting processes, and extensive coverage. HITRUST has established its … Read more

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