Tag: digital attacks

Cyber insurance claims smash previous North American records

Marc
Cyber Insurance - Generic Insurance Claim Form

According to broker Marsh, claims in 2023 bashed through all previous records After receiving more than 1,800 cyber insurance claim reports from US and Canadian clients in 2023, Marsh announced that last year broke all previous records for this type of claim filing. The broker went on to identify driving factors Among the reasons for the rising number of cyber insurance claims, according to Marsh, included that the sophistication of these digital attacks is rising.  Moreover, the MOVEit file transfer supply chain incident’s sheer scale drove up claims.  Privacy claims…

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Cyber insurance is become more important for the world’s businesses

S.Vagus
cyber insurance theft biometrics

Businesses are facing major threats in the digital world The global insurance industry is becoming more involved in cyber protection, especially as digital attacks become more common. Last year, Sony was hit by a data breach from hackers suspected of hailing from North Korea. The data breach would have caused Sony more than $100 million in losses, but the company had purchased cyber insurance protection, which meant that Sony was only liable for one-third of that amount. Now, more companies are acquiring cyber insurance and insurers are beginning to view…

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