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Why Cyber Insurance is Essential in 2022

IT Governance

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. One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance.

Insurance 137
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The False Economy of Deprioritising Security

IT Governance

The UK government’s Cyber Security Breaches Survey 2023 confirms this trend. These are only identified breaches and attacks According to IBM’s Cost of a Data Breach Report 2023 , it takes an average of 204 days (6.7 months) to identify a breach, and only 33% of breaches are identified internally.

Security 116
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List of data breaches and cyber attacks in February 2020 – 623 million records breached

IT Governance

Ordinance Survey discovers breach of employee data (1,000). South Carolina-based United Health notifies patients of 2019 data breach (36). Ashley Madison data breach victims still being hounded by sextortion scammers (unknown). Altice USA employees’ data stolen in phishing attack (12,000).

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List of data breaches and cyber attacks in May 2019 – 1.39 billion records leaked

IT Governance

The cyber security story for May 2019 is much the same as it was last month, with one mammoth breach raising the monthly total. which breached sixteen years’ worth of insurance data. That incident accounted for more than 60% of all of May’s breached records. Data breaches.

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List of data breaches and cyber attacks in October 2019 – 421 million records breached

IT Governance

IN-based Goshen Health leans that 2018 data security incident did need to be reported (9,160). University of Alabama data breach exposes patients’ protected health info (20,000). Texas’ Hunt Memorial Hospital District notifies more patients of 2018 data breach (unknown). Data breaches. Ransomware.

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How to Save on Cyber Insurance and Be Harder to Hack

Adam Levin

Cyber insurance is still evolving, and as such you can still get good deals even if your cybersecurity is not completely up to snuff. At some point that will be a question that cyber insurers will think about 24/7, solutions evolving alongside challenges and underwriting calculations following close behind. Who is accountable?

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The Week in Cyber Security and Data Privacy: 1 – 7 April 2024

IT Governance

67,273,297 known records breached in 130 newly disclosed incidents Welcome to this week’s global round-up of the biggest and most interesting news stories. At the end of each month, these incidents – and any others that we find – will be used to inform our monthly analysis of data breaches and cyber attacks.