Small business insurance provider TruShield Insurance is collaborating with Visa to give eligible businesses protection against cybersecurity threats. “Not having adequate protection against cyberattacks could leave business owners at a disadvantage and, in the event of a major loss, susceptible to bankruptcy,” TruShield Insurance said in a Tuesday (Feb....
News that the U.S. government recovered more than $2 million from ransomware attackers whose victim, Colonial Pipeline, paid the ransom sparked conversations yet again about whether businesses should cough up the money cyberattackers demand. Federal agencies’ stance on this question is increasingly becoming a resounding...
U.K. insurers will not be covering as much digital property and data as they previously did, according to the Financial Times. Now, disasters like fires in data centers and IT meltdowns will not be covered under policies that help corporate headquarters and buildings in cases...
As data breaches and ransomware hacks escalate, cyber protection is becoming one of the fastest-growing insurance industry sectors, a Financial Times special report indicated. The cyber insurance sector expected to reach a $7.5 billion valuation by the end of the decade, with small medium-sized businesses...
May 14, 2019
Cyber insurance firm Coalition just raised $40 million in funding to boost staff, and a data platform that analyzes and underwrites cyber risk. CEO Joshua Motta tells Karen Webster that insurance helps firms eliminate the cost of breaches — and helping clients fix vulnerabilities, while protecting them from breaches, can shore up defenses, where what isn’t known can indeed hurt.
August 25, 2017
The cyber insurance market is expected to grow, by a lot. Researchers at PricewaterhouseCoopers predicted in 2015 that the market would hit $7.5 billion in annual premiums by the end...
June 23, 2017
You’ve heard about WannaCry, University College London, George Eliot Hospital and Honda shutting down a factory for a day due to malicious software in its system. But for every blockbuster...
July 01, 2024
Despite a recent wave of ransomware attacks, cyber insurance premiums are declining around the globe. That’s because businesses have gotten better at dealing with losses related to cybercrime, specialist insurance broker Howden said in a report issued Monday (July 1). “Favorable dynamics have persisted into 2024, with the cost of cyber insurance continuing to fall despite ongoing attacks, heightened […]
February 13, 2024
Small business insurance provider TruShield Insurance is collaborating with Visa to give eligible businesses protection against cybersecurity threats. “Not having adequate protection against cyberattacks could leave business owners at a disadvantage and, in the...
December 26, 2019
U.K. insurers will not be covering as much digital property and data as they previously did, according to the Financial Times. Now, disasters like fires in data centers and IT...
November 25, 2019
As data breaches and ransomware hacks escalate, cyber protection is becoming one of the fastest-growing insurance industry sectors, a Financial Times special report indicated. The cyber insurance sector expected to...
