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One Out of Five Organizations Must Improve Their Security Posture to be Eligible for Cyber Insurance

KnowBe4

As insurers become more educated on what a “secure organization” looks like, they are tightening their requirements that puts the onus on organizations to be more secure.

Insurance 109
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Cyber Insurance: Is Paying a Ransom Counter-Productive?

KnowBe4

Food for thought as discussed on May 18, 2023, an article posted in The Australian Insurance Council: Banning paying a ransom to cyber hackers is counter-productive where Andrew Hall, the Chief Executive of the Insurance Council of Australia (ICA), stated that “attempts to ban businesses from paying ransoms for cyber attacks risks eroding trust and (..)

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Cyber Insurers Focus on Catastrophic Attacks and Required Minimum Defenses as Premiums Double

KnowBe4

Recent attacks are helping cyber insurers better understand what security strategies need to be in place and how to price policies based on the risk those policies cover.

Insurance 107
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Cyber Insurance Rates Begin to Stabilize as Insurers Gain Better Insight into Cyberattacks

KnowBe4

The latest data shows that historically massive rate increases seen over the last few years are beginning to come down, primarily due to insurers having a solid understanding of the risk.

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OpenText™ Cybersecurity 2024 Global Ransomware Survey: Supply chain and AI-powered attack fears intensify

OpenText Information Management

Notably, 90% of these respondents are planning to enhance their collaboration with software suppliers to improve security practices over the next year. Investing in cybersecurity Awareness for ransomware threats is growing and so is regulation. Over half (56%) of companies outsource security to an IT or managed services provider.

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Phishing Attacks Exploits the Open Enrollment Period

KnowBe4

A phishing campaign is impersonating HR to target employees who are making annual insurance changes during the open enrollment period, according to researchers at Abnormal Security.

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Finance and Insurance Is the Sector Most Impacted by Data Breaches In 2022

KnowBe4

Analysis of the year’s breaches shows Finance and Insurance businesses are the most targeted and have lost a material count of records as a result.