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Cyber Insurance News

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  • American Water Won’t Discuss Cyber Insurance as Huge Utility Recovers from Cyber Attack; Hack Follows USG Warnings About Threats to Water Utilities Cyber Insurance
  • Attack on Metropolitan Opera: Overture for Increased Targeting of Cultural Non-profits?  Cyber Insurance Best Practices
  • What Does 2022 Hold for Cyber Insurance? Useful Survey, Predictions & Commentary from Woodruff Sawyer  Cyber Insurance Best Practices
  • Company Learns the Hard Way that Cyber Insurers May Not Count Social Engineering Attacks As “Computer Fraud”  Cyber Insurance Best Practices
  • Resilience Bolsters Defense, Doubles Cyber Insurance Limits to $20 Million Amid Rising Threats Cyber Insurance
  • Cyber Insurance Pure-Play Resilience Creates Captive — “Putting Its Money Where Its Mouth Is” Cyber Insurance Best Practices
  • WTW Appoints Ashley Hart as Cyber Leader for Private Equity and Transactional Solutions Cyber Insurance People
  • Cowbell Launches “MooGPT” for Cyber Insurance Cyber Insurance Best Practices

QBE Insurance Launches Global Cyber Coverage with QCyberProtect

Posted on July 16, 2024July 16, 2024 By Martin Hinton

QBE Insurance, which operates in 27 countries, launched QCyberProtect, a cyber liability insurance policy designed to enhance clients’ cyber resilience globally. QCyberProtect offers tailored coverage for various cyber risks, including…

Read More “QBE Insurance Launches Global Cyber Coverage with QCyberProtect” »

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In 1588, a navigational error led to the defeat of the Spanish Armada, changing the course of European history. Even before modern technology’s advent, human error has had significant risks and consequences. Unfortunately, the modern era has maintained these vulnerabilities. Today, CyberArk’s new report reveals that many of the same human errors and risky behaviors continue to pose serious cybersecurity risks and threats to organizational security in an increasingly digital and hybrid work environment. @CyberarkSoftware www.cyberinurancenews.org
CyberArk Report Reveals Employee Behaviors Pose Cybersecurity Risks That Can Sink Companies
Email attacks are surging, hitting businesses hard and exposing a severe paradox: email is both indispensable and dangerously vulnerable. As digital communications fuel daily operations—from sales to financial transactions—organizations can’t just cut back on email to curb security risks. Financial fraud, the most common email-based attack, continues to skyrocket, leaving companies of all sizes scrambling for effective defenses. Simply restricting email isn’t feasible; companies must find ways to secure it. In 2019, Japan’s Toyota Boshoku Corporation was hit with a $37 million BEC (business email compromise) attack. Though $37 million is a staggering amount, the company’s size and reach meant the fraud went undetected initially. Hackers persuaded an employee to transfer the sum from a European subsidiary before anyone noticed. This was the third BEC attack Toyota faced that year, leading critics to question if the company should have been more vigilant. As Toyota learned the hard way, BEC attacks often come in waves—one successful breach often paves the way for more, leading to losses in money, intellectual property, data, and sometimes even employee identities. Email and financial fraud cybersecurity is the focus of InsurSec provider At-Bay’s new report, 2024 InsurSec Rankings Report – Email Security and Financial Fraud. The report, based on claims data from 2021 through mid-2024, offers an in-depth look at email-related cyber threats impacting businesses, ranks the effectiveness of top email platforms, and identifies the sectors and business types most vulnerable to attacks. The findings highlight the surge in email crimes and reveal which email solutions and security measures offer the best protection. You can read or take away below and get the whole report https://cyberinsurancenews.org/email-security-insights-key-trends-and-solutions-report/ @keeprisk_atbay
Email Security Insights: Key Trends and Solutions – Report
Is Cybersecurity Spending Surge Sign Of A Gathering Storm? @deloitte Report When preparing for imminent threats, increased cybersecurity spending is a significant telltale. In honor of Veterans Day, here is a fitting analogy. In the military, changes in routine sometimes ring warning bells among the troops. As a veteran once shared, during WWII, the unit could expect trouble the next day if they were served steak and eggs—the last good meal for a while. Similarly, 57% of organizations in Deloitte’s latest cyber report foresee increasing their cybersecurity budgets in the coming years—a clear sign of existing and gathering concerns. The “Global Future of Cyber Survey, 4th Edition,” underscores that today’s complex threat landscape is reshaping how organizations prepare for cyber defense. The report, a comprehensive examination of nearly 1,200 C-suite leaders worldwide, reveals growing investment in cybersecurity, a deepened role for Chief Information Security Officers (CISOs), and a push for AI-driven resilience. “The rise of AI and other evolving technologies has significantly transformed the threat landscape. As threats become more sophisticated and impactful to core business, CISOs are increasingly required to adopt a more strategic role driving cross business risk prioritization and mitigation,” says Emily Mossburg, Deloitte Global Cyber Leader. @deloitte Read it: https://cyberinsurancenews.org/is-cybersecurity-spending-surge-sign-of-a-gathering-storm-deloitte-report/
Is Cybersecurity Spending Surge Sign Of A Gathering Storm? @deloitte @deloitte Report
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