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Why Cyber Insurance is Essential in 2022

IT Governance

One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. These activities aren’t typically included in standard business insurance policies, which tend to only cover costs related to technical issues, such as corrupted hard drives and lost devices. The benefits of cyber insurance.

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Cyber insurance: A guide for businesses

IT Governance

That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? We take at a look at everything you need to know in this blog. What is cyber insurance? How does cyber insurance work?

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How Much Cyber Liability Insurance Do You Need?

IT Governance

Cyber liability insurance helps organisations cover the financial costs of a data breach. Without insurance, organisations spend £3.6 By purchasing cyber liability insurance, organisations gain the resources they need at a fraction of the cost. What does cyber insurance include? First-party vs third-party insurance.

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Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

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Change Healthcare Breach Hits 100M Americans

Krebs on Security

“Affected insurance providers can contact us to prevent leaking of their own data and [remove it] from the sale,” RansomHub’s victim shaming blog announced on April 16. A few days after BlackCat imploded, the same stolen healthcare data was offered for sale by a competing ransomware affiliate group called RansomHub.

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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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Many Public Salesforce Sites are Leaking Private Data

Krebs on Security

. “In January and February 2023, I contacted government organizations and several companies, but I did not receive any response from these organizations,” Akiri said. Unfortunately, I did not receive any responses from government organizations.” government in February about his findings, but received no response.

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