Remove Government Remove Insurance Remove Meeting
article thumbnail

MY TAKE: Identity ‘access’ and ‘governance’ tech converge to meet data protection challenges

The Last Watchdog

based supplier of identity access management (IAM) systems, which recently announced a partnership with Omada, a Copenhagen-based provider of identity governance administration (IGA) solutions. Meeting compliance. Governance and attestation quickly became a very big deal.

Access 169
article thumbnail

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.

Insurance 136
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

Insurance 129
article thumbnail

The Riviera Beach City pays $600,000 in ransom

Security Affairs

On Monday, city officials participating to a rapid meeting unanimously voted to use the city’s insurance to pay a ransom of 65 bitcoins (~$603,000). “The payment is being covered by insurance.” ” continues the AP. million to hackers — about $2,400 per attack.

article thumbnail

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.

Insurance 122
article thumbnail

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 Privacy Compliance: By 2024, 40% of privacy tools will rely on AI, highlighting its expanding role in ensuring data privacy and meeting regulations. Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 million per breach.

Security 354
article thumbnail

State-Based Cyber Attacks Continue to Be a Thorn in the Cyber Insurer's Side

KnowBe4

As government-sponsored and widespread vulnerability attacks continue to result in larger damages, cyber insurers are looking for opportunities to still meet demand without incurring risk.