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Cyber Insurance Demand Grows as Cybercrime is Expected to Rise to $24 Trillion by 2027

KnowBe4

As cyber attacks continue to grow in sophistication, frequency, cyber insurers are expecting their market to double in the next two years.

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U.S. Treasury Department Seeks Public Comment On Potential Federal Cyber Insurance Program

Data Matters

Treasury Department is seeking public comment on the need and scope for a potential federal insurance response to catastrophic cyber incidents, akin to the one put in place for terrorism insurance after the attacks of September 11, 2001. The request, published by the Federal Insurance Office (FIO) in the U.S. Background.

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26 Cyber Security Stats Every User Should Be Aware Of in 2024

Security Affairs

Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 every year until 2027, pointing to rapid progress and investment in AI-based security. Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 million, up 15% in three years. The US topped the list at $5.09 million per breach.

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Information Management in the Not-So-Distant Future of Health Care

AIIM

The classic example is the insurer that won’t pay for care that a doctor determines a patient needs. Insurers are about profit; doctors are about delivering the best care. With collaborative videoconferencing: Low-income patients without insurance can use the Emergency Room less often. Telemedicine.

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CyberheistNews Vol 13 #20 [Foot in the Door] The Q1 2023's Top-Clicked Phishing Scams | INFOGRAPHIC

KnowBe4

[link] Munich Re: '3X Growth Estimated in Cyber Crime Costs Over the Next 4 Years' As cyber attacks continue to grow in sophistication and frequency, cyber insurers are expecting their market to double in the next two years. I've also talked quite a bit about cyber insurance and the recent trends. billion by 2027. "3x

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The EU AI Act – the countdown begins

Data Protection Report

assessing credit risk, underwriting for life and health insurance, emotion recognition outside the workplace or education). August 2, 2027 – obligations apply for high-risk AI systems brought into scope via other EU product safety legislation, e.g. medical devices, machinery, radio equipment.

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Ensuring SIEM data sovereignty: the case for on-prem OpenText ArcSight SIEM

OpenText Information Management

According to IDC's December 2023 Security Analytics TAM report, the total addressable market for on-prem SIEM/Security Analytics in EMEA is expected to grow from $2.008 billion in 2022 to $2.111 billion by 2027. ArcSight provides critical insurance against the damage modern cyber-attacks can inflict on an organization.’