The Source for Cyber Insurance News, Insights and Data
Third-Party Risk Accounted for Nearly a Quarter of Material Claims According to new data from cyber risk firm Resilience, third-party risk became a leading cause of cyber insurance claims in 2024. The report found that vendor-related incidents accounted for 31% of all claims and nearly 23% of incurred losses. In 2023, third-party risk had no … Read more
SecurityScorecard and KPMG in Canada have announced a strategic agreement to enhance cybersecurity for critical sectors. The partnership introduces SecurityScorecard MAX, a Supply Chain Detection & Response (SCDR) solution, as a managed service in Canada. Enhancing Supply Chain Security SecurityScorecard MAX focuses on identifying and mitigating cybersecurity risks across vendor networks. KPMG in Canada will … Read more
SecurityScorecard and P3 Group have announced a strategic partnership to improve supply chain security worldwide. SecurityScorecard’s MAX Managed Service will be integrated into P3 Group’s cybersecurity offerings, providing clients with enhanced threat detection and risk mitigation tools. Enhancing Supply Chain Security SecurityScorecard, a firm in Supply Chain Detection and Response (SCDR), offers real-time security ratings … Read more
Industry Growth Driven by New Markets and Products The global cyber insurance market has grown to an estimated $16.6 billion in 2024, according to Guy Carpenter’s latest “Behind the Firewall” report. This represents continued expansion in a market that has stabilized following sharp premium increases in 2021 and 2022. North America remains the dominant player, … Read more
Cyber Insurance Provider Expands UK Presence Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has joined the Association of British Insurers (ABI). The ABI represents over 300 firms in the insurance and long-term savings industry. It collaborates with UK government bodies, regulators, and consumer organizations to promote industry value and customer … Read more