Cyber insurance stories

Cyber Threat Insure unveils a pioneering cyber liability insurance model for Managed Service Providers, with IT First Responder as its inaugural partner.

Google Cloud has unveiled Gus, an AI-driven Unified Security platform, at Next 25, aimed at helping security teams tackle evolving cyber threats.

Sophos has appointed Chris Bell as Senior Vice President of Global Channel Alliances, aiming to enhance partner relationships and channel strategy.

N-able has unveiled new integrations in its Technology Alliance Program, enhancing tools for partners to boost cybersecurity and operational efficiency.

SonicWall has unveiled SonicSentry MXDR, a managed detection and response service designed to bolster cybersecurity for managed service providers and their clients.

The latest HITRUST Trust Report reveals a drop in cyber incident rates to 0.59% in 2024, highlighting the efficacy of certification in enhancing security outcomes.

Kroll's latest report reveals the healthcare sector was the most targeted by data breaches in 2024, accounting for 23% of all incidents, surpassing finance.

A report by Hobson & Company reveals that organisations using KnowBe4's HRM platform can achieve a ROI of 200% to 400% within just 3.5 months.

QBE Insurance's annual SME surveys reveal challenges for small and medium-sized enterprises in Singapore and Hong Kong, highlighting rising costs and AI adoption concerns.

The 2024 surge in AI-driven cybersecurity has transformed threat detection, but emerging AI-led attacks pose new risks as firms brace for 2025 advancements.

KnowBe4 research reveals the average cost of a data breach rose to USD $4.88 million, underscoring the urgent need for enhanced cybersecurity strategies.

ReliaQuest's latest analysis reveals a 43% rise in ransomware victims in Q4 2024, with 13 new groups emerging, including Akira, which named 71 victims in December.

WTW has launched CyCore Asia, a new cyber insurance facility offering up to USD $15,000,000 in coverage to combat growing cyber risks in Singapore and Hong Kong.

The UK Government has unveiled plans to tackle cybercrime, proposing a ban on ransomware payments for public bodies and a new reporting framework.

Andrew Eva of Assured Data Protection predicts significant advancements in backup and cybersecurity by 2025, highlighting ransomware as a major threat.

By 2025, data governance, AI, and multi-factor authentication will become crucial as firms navigate increasing regulatory pressures and cybersecurity threats.

As cyberattacks escalate, a recent survey reveals that many firms struggle to recover fully from data breaches due to inadequate backup strategies.

As 2024 ends, businesses must prepare for turbulent shifts in cybersecurity, including AI's role and the threats posed by quantum computing.

ReliaQuest's latest report reveals a significant rise in phishing attacks, accounting for 46% of incidents, amid increased cyber threats and ransomware activity.

New research reveals that Australian firms now face an average ransomware payment of AUD $1.35 million, highlighting an alarming rise in cyber extortion.