Ransomware

Few SMEs Have Cyber Insurance Despite Growing Cyber Threats, ABI Report Warns

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Small and medium enterprises (SMEs) vastly underestimate their risk of cyber-attacks, leaving them vulnerable due to low cyber insurance adoption, according to a new report from the Association of British Insurers (ABI). Despite making up 99% of UK businesses and generating over £2.6 trillion in turnover, SMEs remain under-protected from cyber threats. The ABI’s report, … Read more

Falcon Risk Services Introduces FalconFlight: Cyber and Professional Liability Insurance

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Falcon Risk Services, an MGA majority-owned by HDI Global Specialty, has introduced FalconFlight, a Cyber, Technology Errors & Omissions (E&O), and Miscellaneous Professional Liability (MPL) insurance product. FalconFlight Cyber Liability provides up to $10 million in A+ rated capacity and is available to companies with annual revenues between $10 million and $3 billion. The product … Read more

Capito, Hickenlooper Reintroduce Bipartisan Cyber Insurance Bill for Small Businesses

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Senators Shelley Moore Capito (R-W.Va.) and John Hickenlooper (D-Colo.) reintroduced the bipartisan Insure Cybersecurity Act to safeguard small businesses against rising cyber threats. According to Accenture’s Cybercrime study, nearly 43% of cyber-attacks target small businesses, yet only 14% feel adequately prepared despite spending between $826 and $653,587 per incident. As many know, 95% of breaches … Read more

UK’s Bold Ransomware Crackdown: Incident Reporting Boosted, Criminal Payments Curbed

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The UK government has introduced proposals to increase ransomware incident reporting and reduce payments to cyber criminals. The measures are rooted in the principle that ransom payments fuel the crime by making it more lucrative. Much like negotiating with terrorists, paying ransoms risks emboldening criminals and increasing the likelihood of future attacks while failing to … Read more

Cybersecurity in APAC: Managing Lunar New Year Risks with Proactive Measures

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The Lunar New Year brings joy and celebration across Asia-Pacific (APAC) and increases cybersecurity vulnerabilities. Experts warn that cybercriminals target festive seasons, exploiting reduced staff presence, delayed responses, and distractions. Studies reveal that 86% of ransomware attacks in the US, UK, France, and Germany occurred during holidays or weekends, and APAC is no exception. According … Read more