cyber risk News
Major Cyber Attack Could Cost Global Economy $3.5 Trillion: Lloyd’s
A cyber attack on a major financial services payments system could result in widespread business disruptions, potentially costing the global economy $3.5 trillion over a five-year period, according ...
Survey: Cyber Budgets, Insurance Premium Jumps Across Sectors
Despite doubts surrounding efficacy of cyber practices, budgets and insurance policy costs have increased exponentially, according to a recent survey gauging cybersecurity practices among global debt ...
The SEC’s New Disclosure Rules and Cyber, D&O Coverage
The U.S. Securities and Exchange Commission in July adopted rules that require public companies to disclose certain information about their cyber risk. The rules, ...
Lockton Re: One-Size-Fits-All Approach to Cyber Reinsurance No Longer Works
A one-size-fits-all approach to cyber reinsurance is no longer suiting an increasingly specialized market, according to The Lockton Re Cyber Centre in a recent report titled, The All Risk Cyber (ARC) ...
Zurich Holding Company of America Acquires Cyber Counterintelligence Firm
Zurich Holding Company of America, a subsidiary of Zurich Insurance Group, announced the acquisition of SpearTip, a cyber counterintelligence firm that helps protect clients against cyber threats ...
Average Cost of a Data Breach Has Reached an All-Time High: IBM Report
According to IBM's Cost of a Data Breach report, 2023 set an all-time high record with the global average data breach cost reaching $4.45 million, a 2.3 percent increase ...
Hospitals, Clinics in Several States Begin Recovery After Cyber Attacks
Hospitals and clinics in several states on Friday began the time-consuming process of recovering from a cyber attack that disrupted their computer systems, forcing some ...
Business Leaders Appear Less Concerned by Cyber Risk: Report
The worldwide impact of cybercrime on business is predicted to balloon to $10.5 trillion by 2025, but boardroom focus on cyber risk appears to be diminishing, according ...
