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85% of small business leaders say they are ready to respond to a cyber incident despite a record-high 73% reporting an attack in 2023, according to Identity Theft Resource Center. Employee and consumer data continue to be the most impacted categories o… Continue reading Cyber attacks cause revenue losses in 42% of small businesses
Cyber insurance has been around longer than most of us think. When American International Group (AIG) launched the first cyber insurance policy in 1997, it stepped into completely unknown territory to gain market share. Now, 26 years later, cyber insur… Continue reading Keeping up with the demands of the cyber insurance market
Cyber insurance is a type of insurance policy that provides financial protection and support to individuals and organizations in the event of cyber incidents, including data breaches, hacking, ransomware attacks, and other cyber threats. It typically c… Continue reading Cyber insurance costs pressure business budgets
MGM Resorts said costs from a disruptive ransomware hack has exceeded $110 million, including $10 million in one-time consulting cleanup fees.
The post MGM Resorts Says Ransomware Hack Cost $110 Million appeared first on SecurityWeek.
Continue reading MGM Resorts Says Ransomware Hack Cost $110 Million
In this Help Net Security interview, Okey Obudulu, CISO at Skillsoft, talks about the increasing complexity of the CISO role and challenges they face. He discusses the business environment, tech innovation, the evolving regulatory landscape, limited re… Continue reading CISO’s compass: Mastering tech, inspiring teams, and confronting risk
57% of SMEs have fallen victim to at least one cybersecurity breach, among whom 31% reported that their business experienced a breach within the past 12 months alone, according to Guardz. The increasing number of evolving cyber threats poses a signific… Continue reading SMEs overestimate their cybersecurity preparedness
A significant gap is emerging between insurance providers, as organizations skip the fine print and seek affordable and comprehensive coverage, potentially putting them in a tough place when they need to use this safety net, according to a Delinea repo… Continue reading Understand the fine print of your cyber insurance policies
If an organization decides to include cyberinsurance within its total cyber risk management posture, that cyberinsurance must be fully integrated with the organization’s cybersecurity posture.
The post The Reality of Cyberinsurance in 2023 appeared fir… Continue reading The Reality of Cyberinsurance in 2023
Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance. The traditional … Continue reading Cybersecurity insurance is missing the risk
Whichever way you look at the data, it is considerably cheaper to use backups to recover from a ransomware attack than to pay the ransom. The median recovery cost for those that use backups is half the cost incurred by those that paid the ransom, according to a recent study. Similarly, the mean recovery cost […]
The post One simple way to cut ransomware recovery costs in half appeared first on Security Intelligence.
Continue reading One simple way to cut ransomware recovery costs in half