Such newly secured funds would be allocated by the firm, which caters to small and medium businesses, toward international expansion and the creation of new insurance offerings with a focus on artificial intelligence.
Most interesting within this survey is the ubiquity of cybersecurity insurance coverage among 90% of organizations with between 100 and 5,000 staffers.
Cyber insurance underwriting is all over the map. With such a variation in application requirements, how should small and medium businesses prepare to receive the best policy for the price? Brian Fritton joins Business Security Weekly to discuss a systematic approach to preparing for cyber insurance. By working with the underwriters, this approach ...
Cyberinsurance premiums were observed by brokerage firm Howden to have declined by nearly 15% from peak levels in 2022 and while such a decrease was attributed to improved cybersecurity, experts said that the lower rates were more likely to be a corrective measure from insurers as part of a cyclical market, SecurityWeek reports.
Increasingly prevalent cybersecurity threats were noted by U.S. businesses to be accompanied by mounting difficulties in securing cyberinsurance policies during a hearing before the House Homeland Security Committee's Cybersecurity and Infrastructure Protection Subcommittee.
Cyberinsurance claims increased 13% year-over-year in 2023, with the 10% rise in overall claims severity attributed to mounting ransomware attack claims during the first six months of the year, reports SiliconAngle.
Increasingly prevalent cybersecurity risks have prompted Bitsight and Moody's Corp., to collaborate and develop the new Implied Cyber Threat service aimed at strengthening cyber risk management efforts, SiliconAngle reports.
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