Eric Vanderburg’s Post

Where does cyber insurance fit into your #security strategy? https://lnkd.in/eygecRf insights from @tcdi

Cyber Insurance as a last layer of defence. Interesting insights into cyber threat trends from an insurance perspective. Cyber security due diligence reduces the cost of insurance.

🔒 Navigating Cyber Insurance in 2024: Evolving Standards & Requirements. Discover in our latest blog how cyber insurance policies are changing and what it means for your business. Stay protected in the digital age! #cybersecuritytrends #riskmanagement

Cyber insurance protects against internet-based risks like hacking and IT infrastructure issues. The market is expected to grow from $8 billion in 2020 to over $20 billion by 2025, mainly for corporate insurance. Cyber incidents are major risks, affecting companies' finances and reputations. Despite increasing cyber-crime costs, many businesses, especially in Germany, lack cyber insurance. Rising cyber attack claims impact insurers' loss ratios, a key profitability measure. In 2020, French cyber insurers' loss ratios exceeded 160%, while U.S. standalone cyber insurance policies had a 70% loss ratio. Read more: https://lnkd.in/eBpAZdzu

Curious to learn more about navigating the landscape of cyber insurance and compliance? Ken Leibow an industry expert with over 30 years of experience breaks down the current landscape and offers deep insights into the present and future of cyber insurance and compliance. https://hubs.ly/Q02llq400 #CyberInsurance #Compliance #CyberCompliance #RiskManagement #FutureOfCyberInsurance #CyberInsuranceExpert

Why cyber insurance is a must for every modern business: - How you can effectively convey cyber risk. - The keys to communicating key areas of coverage with ease. - Tips on confidently handling top objections. #cyberrisks #cyberattacks #riskmanagement

Does your business have cyber insurance, but you aren't totally sure how to meet compliance? Check out our blog to see why getting insurance is only half the battle. Reach out to Silicon Plains and we can go through your policy and help get your business ready! https://hubs.ly/Q02R8_dw0

Explore what kinds of cyber insurance your clients will need, why these policies are necessary, and what kinds of solutions you can provide them to stay compliant. http://pax8.io/VxWC50Qu8v6

What Will Cyber Insurance Markets look like in 2024? Cyber Attacks are on the Rise and becoming much more sophisticated, making Cyber Security a growing concern for Businesses. As a result, there has been an Increased Demand for Cyber Insurance. The Cyber Insurance Market in the UK is expected to see prices rise, but at a moderated pace in 2024. Cyber Regulations will also be a focus in the UK for 2024, with the European Union passing Several Pieces of Legislation that will likely be mirrored in the UK. As awareness of this Threat grows, we expect Demand for Comprehensive Cyber Cover to extend to Physical Damage and Subsequent Business Interruption to grow even further in 2025. However, if claims continue to rise and Cyber Insurance Products become more Sophisticated, pricing will likely continue to increase regardless of market competition. In light of this, we anticipate more Financial lines Insurers looking to expand into Cyber. It's Crucial for businesses to stay ahead of the curve and protect themselves from Cyber Threats with Comprehensive Cyber Insurance coverage.

Does your business have cyber insurance, but you aren't totally sure how to meet compliance? Check out our blog to see why getting insurance is only half the battle. Reach out to Silicon Plains and we can go through your policy and help get your business ready! https://hubs.ly/Q02R8Nnm0