The Source for Cyber Insurance News, Insights and Data
As cyber threats become increasingly sophisticated and target the vital systems at the core of modern society, CyberCube’s “Global Threat Briefing H2 2024” underscores a critical reality: attacks on Single Points of Failure (SPoF) technologies and key sectors are no longer hypothetical. The report explores the systemic nature of these cyber threats and emphasizes the … Read more
UK businesses have lost £44 billion to cyber attacks in the past five years, according to Howden. Half of UK businesses, about 1.3 million companies, suffered at least one cyber attack during this time. The average cost of these attacks equals 1.9% of revenue. The Targets Large businesses were the most targeted. Seventy-four percent of … Read more
When GEICO and Travelers were hacked, stealing personal information from over 120,000 New Yorkers. They exploited vulnerabilities in online auto insurance quoting tools to obtain driver’s license numbers and dates of birth. The stolen data was later used to file fraudulent unemployment claims during the peak of the COVID-19 pandemic. The Geico Travelers Hack Starting … Read more
In recent conversations with cybersecurity experts and reviews of cybersecurity reports, we have heard a consistent concern: as large businesses fortify their defenses, shrewd cybercriminals shift focus to smaller, less prepared, or resourced targets. Small and medium-sized enterprises (SMEs), often lacking robust cyber risk mitigation resources, are increasingly attractive to attackers. This trend is acutely … Read more
Coverdash, the insurtech broker, is now offering cyber insurance, and other covers, to start ups and SMBs via LendingTree, the large market place for business and other loans. “This strategic collaboration expands LendingTree’s suite of financial products for small to medium-sized businesses (SMBs), providing them with an efficient and streamlined way to obtain business insurance … Read more