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...
Cyber insurance claims are spiking as a new type of ransomware targets companies across the U.S. and Europe, the The Financial Times reported on Sunday (Aug. 11). Sodinokibi is on the attack, making higher ransom demands, hijacking companies’ systems and demanding bitcoin payment in exchange...
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...
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 event of a major loss, susceptible to bankruptcy,” TruShield Insurance said in a Tuesday (Feb. 13) news release announcing the partnership. The collaboration will offer eligible Visa […]
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...
August 12, 2019
Cyber insurance claims are spiking as a new type of ransomware targets companies across the U.S. and Europe, the The Financial Times reported on Sunday (Aug. 11). Sodinokibi is on...
