KPA’s Post

The insurance industry will continue to face significant cybersecurity risks as it increasingly relies on digital systems and data. Cyber threats such as data breaches, ransomware attacks, and phishing schemes pose serious risks to sensitive customer information and financial assets. Insurance companies must invest in advanced cybersecurity technologies, implement stringent security protocols, and foster a culture of cybersecurity awareness among employees. #Insurance #Cybersecurity #Data #CyberThreats #Compliance

I had a chance to read Coalition's latest cyber insurance claims report. One section breaks down the number by 'boundary device.'   The report notes that 'relative claims frequency for policyholders using Cisco ASA surged.' Similarly, companies with 'exposed Fortinet devices were twice as likely to experience a claim.' They provide little support as to why companies with a specific brand of FW saw an increase in claims.  I wonder if Coalition will start charging a premium based on your FW model.   https://lnkd.in/eJTadRS9

#CyberInsuranceLimitations. #CybersecurityAwarenessMonth #Day16 Cyber insurance can mitigate the financial impact of breaches, but many organizations struggle to find adequate coverage or understand policy limitations. It is imperative to: 1. 📌 Carefully assess coverage needs based on risk exposure. 2. 📌 Regularly review policies to ensure they align with current threats, and engage with insurance experts to understand terms. 💡Organizations should also maintain comprehensive security practices to complement their cyber insurance policies. #ConnectedCompliance #CybersecurityGRC

🔒 Cybersecurity is critical for advisers 🔒 Our partners at Numerisk's latest article is a must-read, highlighting the rising cyber risks financial advisers face. The latest data is eye-opening—financial services organisations face an average cyber claim cost of $150,000. But where should you turn for Cyber Insurance? Numerisk. dives into the details, sharing insights on what financial advisers need to know and how to enhance your protection strategy. 👉 Read the full article here: https://hubs.ly/Q02RXV210 Coalition, Inc. #advicematters #financialadvice #professionalindemnity #cyberinsurance #cyberrisk #financialplanning #insurance #businessinsurance

Good overview of the new Coalition cyber claims report. Link to download the full report is in the article. #cyberinsurance

Interesting article on the instances of cyber attacks when an organization is exposed or vulnerable on the dark web. More importantly, strategies on how to minimize losses.

What trends are happening in cyber insurance claims? Coalition, Inc.'s 2024 Cyber Claims Report is here! Scroll through our report to learn about notable changes in ransomware, business email compromise, funds transfer fraud, and devices targeted by threat actors.

What trends are happening in cyber insurance claims? Coalition, Inc.'s 2024 Cyber Claims Report is here! Scroll through our report to learn about notable changes in ransomware, business email compromise, funds transfer fraud, and devices targeted by threat actors.

What trends are happening in cyber insurance claims? Coalition, Inc.'s 2024 Cyber Claims Report is here! Scroll through our report to learn about notable changes in ransomware, business email compromise, funds transfer fraud, and devices targeted by threat actors.

I have partnered with Arctic Wolf to make sure local SMB's have an up to date incident response plan. This very low cost plan and service will help answer questions that cyber insurance companies will ask along with having a detailed playbook of what to do if a cyber incident occurs. Please reach me if I can assist with your current IR planning #endcyberrisk