Coalition, Inc.’s Post

As premium flattens out, coverage expands and ransomware spikes - we are recommending that cyber insurers are confident in their pricing strategies. Although the cyber insurance market remains stable, you should remain vigilant about cybersecurity due to changing cyber threats https://ow.ly/rNyY50Qh2hz #RiskManagement #CyberRisk #ASmarterWayToRisk #WTWPerspective

MDR not only reduces the cost and impact of a cyber event if one occurs, but it can also reduce the likelihood of a cyber incident occurring in the first place. That’s why we’ve expanded our premium discount on cyber insurance to include organizations that use an approved MDR solution in the UK! Learn more about the benefits of MDR and how the discount can apply to your policy: https://bit.ly/4cxtVI1

This report from Coalition notes that for 3 years now, Fortinet customers have been over 2x as likely as the average cyber insurance holder to file a claim, and Cisco customers have been over 2.5x as likely as the average, with 2023's figures putting them at 4.7x the relative claims frequency of the average insurance holder. There are a lot of other interesting facts in their report, and I urge everyone to give the report a look. https://lnkd.in/gVS4hggm If you're interested in seeing why our Cloud-Delivered Security Services are more effective at protecting our customers, I'd love to show you!

Cybersecurity breaches are becoming increasingly prevalent, but our readiness to safeguard your business is growing as well. In today's environment, cyber insurance is not just recommended—it is a necessity. Protect your digital assets and reputation with the services of Trade and Commercial Broking Services Ltd. Take action now to prevent potential threats before they occur. 📱0141 647 3778 You can also email 📩[email protected]. #CybersecurityInsurance #TradeBroking #DigitalProtection #BusinessSecurity #UKBusiness #RiskMitigation #IndependentBroker #TailoredInsurance

In case you missed it, earlier this month, our own Smail DAHMOUN and Frank Raimondi joined Tim Golden (Compliance Scorecard) to discuss penetration testing and vulnerability management: when each is essential, where the overlap lies, and how they support compliance and cyber insurance requirements. Click here to watch the recording: https://hubs.ly/Q02ygb5D0 #PenetrationTesting #VulnerabilityManagement

Protecting your business starts with understanding your security profile. At DUAL, our Cyber insurance product is tailored to safeguard your digital assets and reputation. Explore how we can fortify your defenses: Learn more about our cyber offerings today: https://bit.ly/3WeevDA #CyberInsurance #DataSecurity #RiskManagement

In today's digital age, technology is essential to business operations, making businesses vulnerable to cyber attacks. Cyber insurance can protect your business from financial losses due to cyber attacks, giving you peace of mind. There are many types of cyber insurance now available. Get in touch with us now (02) 8329 0999 to explore your options. #mapleinsuranceandrisk #cyberinsurance #businessrisk #insurancesolutions

Check out our latest cyber claims report. It's a worthwhile read. Key takeaways of 2023 • Cyber claims increased year over year (YoY). Overall frequency continued to trend upward. Although overall severity decreased in the latter half of the year, it was not enough to offset the first-half spike primarily driven by increased ransomware claims. • Cyber claims originated in the inbox. More than half of all claims were business email compromise (BEC) or funds transfer fraud (FTF), highlighting the importance of email security as a key aspect of cyber risk management. • As ransomware payments hit $1 billion globally, Coalition ransomware severity dropped 54%. Ransomware frequency, severity, and demands dropped in the second half of the year after a surge in the first half, though severity is still up year over year. • Businesses using select boundary devices were at greater risk. Firewalls, virtual private networks, and other devices can help reduce cyber risk. However, boundary devices with known vulnerabilities increased the likelihood of a business experiencing a cyber claim.

Here’s what cyber insurance can do for your business: ✅ Data Breach Coverage: Protects against the costs of security fixes, identity theft protection, and legal actions. ✅ Business Interruption Insurance: Covers lost income and additional costs during IT failures caused by cyber-attacks. ✅ Cyber Extortion Defense: Helps recoup losses from ransomware and similar attacks. Learn how cyber insurance can safeguard your business and why it's more essential than ever: https://bit.ly/3o4kvwq . . . #Scrivens #OttawaInsurance #OntarioInsurance #cybersecurity #cyberattacks #cyberinsurance #613

How would your business cope with a ransomware attack? Our cyber insurance policies can include cover for incident response, business interruption, cyber extortion and much more. We have a team of specialists in Ireland and across the globe that can assist you when you need it most. Speak to our specialist team 📞 0818 222 700 or find out more online https://lnkd.in/eKDteDyT #ad #cyberinsurance #businessinterruption #ransomware #cyberattack