The Department of Treasury and the Cybersecurity and Infrastructure Security Agency are soliciting comments on whether risks to critical infrastructure from a catastrophic cyberattack - and the concurrent potential for ruinous financial exposure by insurers - should lead to a new federal approach.
Coalition has secured $250 million on a $5 billion valuation to grow in the United Kingdom and accelerate its executive risk coverage business. The money will allow Coalition to push beyond the United States and Canada into the U.K. by the end of 2022 and cover additional executive risk segments.
How can companies make their cybersecurity posture more transparent to stakeholders? That's a question being asked by both boards of directors and potential investors, says Stephen Boyer, founder and CTO of BitSight. He discusses the impact of new regulations and guidance from agencies.
Crum & Forster CISO Chris Holden has helped organizations respond to many breaches over the years, and through this experience he has developed an excellent sense of who companies should call first and have on their response team if they suspect that a security incident has taken place.
Cyber insurance is getting much tougher to obtain, and coverage for security incidents is not guaranteed even when policies are issued, says attorney Steven Teppler, chair of the privacy and cybersecurity practice of law firm Sterlington PLLC.
The world is a much different place since the previous in-person RSA Conference - and so is the cybersecurity marketplace. Alberto Yépez of Forgepoint Capital shares his view of the state of the industry and the market forces that may cause further change in 2022.
Lynn Peachey, the director of business development at Arete Incident Response, says that insurance companies have made "a pretty quick turnaround in terms of trying to respond to the ransomware epidemic." She discusses the changes they are making, which include leveraging data quantification.
A surprising improvement in loss ratios for cyber insurance providers in 2021 means the rapid rise in premiums might at last subside later this year. The loss ratio declined for the first time since 2018 despite the frequency and severity of claims filed for cyberattacks increasing again in 2021.
In the latest weekly update, four ISMG editors discuss the state of cyber insurance today and why its future is uncertain; applying a security-by-design reliability model to analyze vulnerabilities; and how Russia takes down members of the REvil ransomware group as cyber aggressions in Ukraine rise.
ISMG's global editorial team reflects on the top cybersecurity news and analysis from 2021 and looks ahead to the trends already shaping 2022. From ransomware to Log4j, here is a compilation of major news events, impacts and discussions with leading cybersecurity experts on what to expect in the new year.
Ransomware attacks have become the game changer in driving up security requirements, policy premiums and rejection rates for healthcare sector entities seeking new cyber insurance policies or renewals, says Doug Howard, CEO of privacy and security consultancy Pondurance.
As ransomware attacks continue to dominate headlines, Quentyn Taylor, a Canon director of information security, cautions organizations not to forget about "some of the other threats, like business email compromise," which continue to cripple organizations through financial and reputational damage.
The latest ISMG Security Report features the fallibility of ransomware gangs and why victims should always seek help from a reputable response firm, law enforcement or other qualified expert. Also featured: Data protection advice and why the remote work model might make securing data easier.
The latest edition of the ISMG Security Report features an analysis of how a cryptocurrency exchange bug has revealed North Korean monero laundering. Also featured are cyber insurance trends and cybercrime innovation.
The world is experiencing a cybercrime pandemic, which is a direct consequence of COVID-19, according to Amit Basu, CISO and CIO at International Seaways. He offers proactive prevention measures, based on his own experience, for how organizations can stay safe and secure.
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