July 8, 2024 at 02:07PM The cyber-insurance market has seen a significant decline in premium rates, making coverage more accessible to organizations of all sizes. Factors contributing to this decrease include a more competitive marketplace, improved cyber hygiene, and better risk assessment by insurers. Despite a rise in cyber-attacks, prices are expected to remain stable … Read more
February 21, 2024 at 09:58AM The cyber-threat landscape is rapidly evolving, posing challenges for businesses of all sizes. Data breach incidents and costs are increasing, especially for small businesses, forcing compliance and security expenditures. Executives face the dilemma of balancing business growth with cybersecurity amidst a complex threat environment. Strategic cybersecurity investments, aligned with business … Read more
November 16, 2023 at 04:28PM Rackspace has revealed that its expenses from a ransomware attack last year have now reached $12 million. The attack, initially described as a security incident, disrupted email services for thousands of customers. Rackspace attributed the intrusion to the Play crew, who exploited a critical Exchange bug. The company incurred costs … Read more
November 13, 2023 at 08:05PM Google has filed a lawsuit against three scammers for falsely offering a download of the company’s Bard AI chatbot that contained malware to steal credentials for small business’ social media accounts. The defendants are accused of targeting small businesses and advertiser accounts to steal financial information. Google is seeking an … Read more
October 23, 2023 at 10:02AM The Federal Trade Commission (FTC) and the National Association of Insurance Commissioners (NAIC) have emphasized the importance of cyber insurance as a way to protect against cyberattacks. However, simply suggesting cyber insurance is not enough. The government should ensure its availability and affordability, particularly for small businesses. Businesses should also … Read more
October 16, 2023 at 10:08AM The global cyber insurance market is growing rapidly, expected to reach $84.62 billion by 2030. However, many companies are uncertain about how much coverage they need, and insurers struggle to assess individual risk. This has led to significant losses in the cyber insurance market. Rates have spiked due to increased … Read more