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How Much Cyber Liability Insurance Do You Need?

IT Governance

Cyber liability insurance helps organisations cover the financial costs of a data breach. Without insurance, organisations spend £3.6 million on average recovering from security incidents. By purchasing cyber liability insurance, organisations gain the resources they need at a fraction of the cost.

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Why Cyber Insurance is Essential in 2022

IT Governance

Organisations must always look for cost-effective ways to address the cyber security risks they face. With more than 1,200 publicly disclosed data breaches last year , and organisations spending almost £3 million on average responding to security incidents , effective risk management is a top priority.

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Global Data Breaches and Cyber Attacks in December 2023 – 2,241,916,765 Records Breached

IT Governance

IT Governance’s research found the following for December 2023: 1,351 publicly disclosed security incidents. 2,241,916,765 records known to be breached. Another noteworthy incident, a JavaScript web injection malware campaign affecting more than 40 organisations at once,* was uncovered by security researchers.

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Data Breaches and Cyber Attacks in October 2023 – 867,072,315 Records Breached

IT Governance

IT Governance’s research has discovered the following for October 2023: 114 publicly disclosed security incidents. 867,072,315 records known to be breached. You’ll also be able to download each month’s data (and our sources) from the same page as the corresponding Dashboard. An additional 30% may have had data exfiltrated.

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Cyber insurance: A guide for businesses

IT Governance

Cyber threats are so numerous that it’s impossible to prevent security incidents altogether. That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? What is cyber insurance?

Insurance 122
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List of Data Breaches and Cyber Attacks – May 2023

IT Governance

IT Governance found 98 publicly disclosed security incidents in May 2023, accounting for 98,226,877 breached records. You can find the full list below, divided into four categories: cyber attacks, ransomware, data breaches, and malicious insiders and miscellaneous incidents.

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GUEST ESSAY: Cyber insurance 101 — for any business operating in today’s digital environment

The Last Watchdog

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

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