The Source for Cyber Insurance News, Insights and Data
With a title like “Ransomware Season Arrives Early,” you might be tempted to crawl back into bed and leave the digital world behind. But before you do, it’s worth reading how serious this season will be. In the second quarter of 2024, global ransomware attacks continued escalating, with the Corvus Insurance report identifying 1,248 victims. … Read more
Cybersecurity incidents have become a major financial burden for businesses worldwide, with losses reaching billions annually. In 2023 alone, the global economy lost an estimated $10.5 trillion due to cybercrime, a stark reminder of the increasing cyber threat landscape. As these threats continue to evolve, a new study by Omdia, in collaboration with At-Bay, highlights … Read more
A staggering 87% of utility and energy companies have been hacked at least once in the past thirty-six months, according to a Skybox Security study. Despite this alarming statistic, many of these companies remain confident in their cybersecurity defenses, highlighting a dangerous gap between perception and reality. The study points to poor password practices, misconfigurations, … Read more
The latest Data Health Check report by Databarracks reveals a marked decline in cyber insurance claims. That indicates a significant shift in the cyber landscape. This finding comes despite the increased adoption of cyber insurance policies among UK businesses. This trend underscores a growing resilience in the face of cyber threats, as more organizations successfully … Read more
Much like the Dunning-Kruger effect, where individuals overestimate their abilities due to a lack of self-awareness, organizations worldwide fall prey to a similar bias in assessing their cyber resilience. A recent study commissioned by Cohesity, a firm in the AI data security and management, reveals that many companies believe they are well-prepared to handle cyber … Read more