Guy Carpenter's recent report reveals that the CrowdStrike IT outage, caused by a flawed update, might result in insured losses ranging from $300 million to $1 billion. The incident highlights the growing importance of robust cyber insurance in managing digital risks. Read the full article here: https://lnkd.in/eqt3ugid Contact us today to learn more about Synergy2: https://lnkd.in/eJd_4V_W #CrowdStrike #GuyCarpenter #InsuranceNews #Reinsurance #ITOutage #Synergy2 #Eurobase
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As we know, the rapidly changing landscape of IT is ever-evolving and will always present a myriad of challenges and opportunities. One significant change that is poised to shape the future is the transformation of cyber insurance. In a Technology First blog post, Seth Marsh of TMG shares the changing dynamics of cyber insurance in 2024 and how the effects of these changes will impact organizations of all sizes. Read his analysis here: https://lnkd.in/gG-6BFMi #WednesdayWisdom #UniteDaytonTech #connectstrengthenchampion
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Thank you, Technology First , Always happy to share information that we run into... this topic, Cyber Insurance, is foremost in the mind of all organizations... terms, conditions, coverage...all these changes... Just like the changing landscape of technology, the insurance industry is struggling to keep up with the evolving landscape... to the point where for some it will be out of reach...just a sneak peek at what is below!
As we know, the rapidly changing landscape of IT is ever-evolving and will always present a myriad of challenges and opportunities. One significant change that is poised to shape the future is the transformation of cyber insurance. In a Technology First blog post, Seth Marsh of TMG shares the changing dynamics of cyber insurance in 2024 and how the effects of these changes will impact organizations of all sizes. Read his analysis here: https://lnkd.in/gG-6BFMi #WednesdayWisdom #UniteDaytonTech #connectstrengthenchampion
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Don’t worry if you missed our webinar last week! We got you covered with the replay 🔊 Our Middle Market Insights and Specialties Spotlight recording is now available on demand. This 1-hour replay shares insights from experts on the Year-End Middle Market Indicator findings, with a focus on top concerns, cyber insurance and Multinational. https://bit.ly/3Vy4tgN
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According to CyberCube's cyber catastrophe model and industry exposure database, the CrowdOut event is a major event for the cyber insurance market but does not come close to the destructive potential that leading insurers are holding capital against. Read more here: https://lnkd.in/ebCtqnaS #CrowdOut #CrowdStrike
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CyberCube collaborates with CatX to help advance their cyber capabilities. Alternative capital will play a large role in helping to stabilize the cyber insurance market. Read more here - https://hubs.ly/Q02Kz7Dj0 #CyberRisk #CyberInsurance
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Be proactive, stay protected! Safeguard your tech endeavors with Errors and Omissions Insurance – your armor against liabilities stemming from software mishaps, data breaches, and cyber incidents. Learn more: pciaonline.com/tech-firms #PCIA #Insurance #professionalliability #certified #Technology #dataprotection
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Forty percent of companies are uncertain about what is covered by their #CyberInsurance. In addition, the rising costs from cyberattacks has made cyber insurers re-evaluate their insurance. It’s important to understand your coverage details to be prepared in the event of an attack. Insurer requirements for data protection can reduce more financial risks associated with cyberattacks such as ransom payments and downtime. Learn more from David Bennett at Dark Reading: https://lnkd.in/gGFZrtpz
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Detailed & important analysis of the recent Crowdstrike outage from Coalition, Inc. on the potential impact to the cyber insurance industry: “Our own modeling, leveraging our Active Cyber Risk Model, suggests a $0.96 billion industry-wide loss experienced by US cyber insurance policyholders at the upper bound prior to consideration of coverage limitations. Of course, any model of this event will also be highly sensitive to the least credible assumption (most likely, the share of impacted systems), which if reduced, would decrease our estimate to $0.27 billion (or lower).”
You've likely heard about the CrowdStrike outage by now, which caused major disruptions to airlines, banks, and maybe even your business. Does cyber insurance cover this event? We've got answers for you ➡️ https://bit.ly/3LCykhM
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Helping businesses detect, protect, and prevent advanced threats like malware, ransomware and phishing attack.
Forty percent of companies are uncertain about what is covered by their #CyberInsurance. In addition, the rising costs from cyberattacks has made cyber insurers re-evaluate their insurance. It’s important to understand your coverage details to be prepared in the event of an attack. Insurer requirements for data protection can reduce more financial risks associated with cyberattacks such as ransom payments and downtime. Learn more from David Bennett at Dark Reading: https://lnkd.in/gD-a2jSi
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Be proactive, stay protected! Safeguard your tech endeavors with Errors and Omissions Insurance – your armor against liabilities stemming from software mishaps, data breaches, and cyber incidents. Learn more: pciaonline.com/tech-firms #PCIA #Insurance #professionalliability #certified #Technology #dataprotection
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