article thumbnail

Cyber insurance: A guide for businesses

IT Governance

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? How does cyber insurance work? What does a cyber insurance policy cover?

Insurance 122
article thumbnail

The Data Breach Case Study & Protection Guide

Record Nations

Even the tiniest security gap can lead to a data breach. million settlement, Nationwide Insurance’s breach serves as just one example of the growing number of data breaches each year—making it all the more important you have protections in place. After a $5.5 Recently […].

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Data Breaches are More Expensive than Last Year, New IBM Security Report Finds

Data Matters

Death, taxes and data breaches. These threats lead to direct costs on victims, and these costs have also grown exponentially in recent years, as readers of the famed annual Ponemon data breach report well know. In 2021, the average total cost of a data breach rose to $4.24

article thumbnail

CIAM in insurance: A unified, secure user experience with a single login

Thales Cloud Protection & Licensing

CIAM in insurance: A unified, secure user experience with a single login madhav Fri, 05/26/2023 - 07:33 In recent years, the insurance industry has transformed from a singularly focused entity to a multi-brand or multi-service type of business. Adding value to the user experience (a top priority for 59% of insurers) 2.

article thumbnail

The False Economy of Deprioritising Security

IT Governance

A 2022 Proofpoint study found that 76% of UK board members believed their organisation to be at risk of a material cyber attack in the next 12 months – higher than the global average of 65%. However, the 2023 edition of that study found that this had dropped to 44% in the UK, whereas the global average had climbed to 73%. . %

Security 116
article thumbnail

61% of organisations reported a data breach in 2019

IT Governance

If your organisation didn’t suffer a data breach last year, consider yourself one of the lucky few. The insurance firm Hiscox found that 61% of organisations were compromised in the past 12 months. But while they focus on the negatives, Cisco’s 2019 Data Privacy Benchmark Study has looked at the ways the GDPR has been a success.

article thumbnail

How to handle a ransomware attack 

IBM Big Data Hub

Over 17 percent of all cyberattacks involve ransomware —a type of malware that keeps a victim’s data or device locked unless the victim pays the hacker a ransom. Of the 1,350 organizations surveyed in a recent study, 78 percent suffered a successful ransomware attack (link resides outside ibm.com).