#InsurancePremiums

Unmasking the True Cost of Cyberattacks: Beyond Ransom and Recovery

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April 23, 2024 at 06:34AM According to research by Cybersecurity Ventures, global cybercrime is projected to cost 10.5 trillion USD annually by 2025, a sharp rise from 3 trillion USD in 2015. The true financial impact goes beyond immediate costs, including revenue loss, strained relationships, regulatory fines, increased insurance premiums, and the indirect costs of … Read more

Seeing is Believing… and Securing

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February 13, 2024 at 07:39AM Fitch Ratings reports a 178% increase in cyber insurance premium costs from 2017 to 2022, with a 51% rise in 2022. As insurers adjust pricing and clients bolster cybersecurity measures, costs are expected to stabilize. Lloyd’s of London and Munich Re emphasize the need for stronger security measures, outlining twelve … Read more