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On this #NationalInsuranceDay, a great read from James Rundle and Catherine Stupp in the The Wall Street Journal featuring commentary from Jack Kudale at Cowbell. Insurers told a congressional hearing Thursday that they need the flexibility to determine what they will and won’t cover under cyber policies, saying they are still trying to understand the risks associated with cyberattacks. The House Committee on Homeland Security’s subcommittee on cybersecurity and infrastructure protection held the hearing to explore how cyber insurance is being used by critical-infrastructure operators, amid warnings of hacking efforts from China and Russia. Jack Kudale, chief executive of Pleasanton, Calif.-based insurer Cowbell Cyber, said during the hearing that cyber is still an emerging risk, and as such, requires a degree of flexibility in underwriting to properly serve the needs of policyholders. “Over the last 10 years, the terminology in coverage has been evolving, and we’re still not there. Putting limitations and standardization might hurt how nimble we are,” he said. The evolution of cyber threats also means that insurers must have the flexibility to customize their policies accordingly, he added. #cyber #cybersecurity #infosec #infosecurity #cyberattack #insurance #cyberinsurance #Cyberresilience #InsuranceInnovation #TechEOInsurance #MoreCowbell #tech #technology

🔒🚗🚨 Worried about data breaches and cyber-attacks? Stay informed and protected with our Data Security Resource Hub! The FTC has implemented new regulations to safeguard your privacy, and we're here to help you navigate through it all. Check out our data security hub for the latest articles and resources to stay up to speed on data security best practices. 🖥️ Plus, a reminder that we will be hosting a webinar this Thursday with AssuredPartners. We'll cover CDK's Cyber Incident and discuss the insurance and compliance obligations that dealers need to be aware of. It's crucial information that you won't want to miss! Use the links below to access our resource hub and register for our webinar! #DataSecurity #Cybersecurity #Webinar #AutoDealer #FTC #StayProtected 🔐 Webinar: https://hubs.ly/Q02DhbCc0 Resource Hub: https://hubs.ly/Q02Dhf4m0

In a world filled with data breaches and digital uncertainties, Cyber Insurance is your safety net. Check out this blog about what it is and how to choose the right policy for your business. https://lnkd.in/gtF98fpK 💻 KTConnections.com 📱 (888) 891-4201 #CyberInsurance #DataProtection #KTConnections #RiskManagement

So, the CrowdStrike crisis is far from over. News of shareholders filing a group claim against the company in the US hit the headlines earlier today. The claim accuses CrowdStrike of making "false and misleading" statements about its software testing. Another angle worth thinking about is whether there may be insurance claims. The damage caused by the global outage is reported to be colossal and they could be a very effective and valuable option to recoup losses. Our Head of Policyholder Disputes, Aaron Le Marquer considers some of the key legal issues that are likely to arise in considering coverage of CrowdStrike-related losses under cyber insurance policies. Read more here: https://lnkd.in/emFzNUfA #CrowdStrike #CrowdStrikeOutage #CyberPolicy #CyberSecurity

As firms moved to a work-from-home environment in response to COVID-19, cybersecurity has been highlighted as an increasing challenge. Industry experts suggest while captive coverage is tailored to the needs of the business, a commercial policy is just as important. Although many firms use commercial cyber policies for coverage, there can be gaps, leaving firms exposed. This article explains that some commercial policies will not cover losses that occur due to employee error. #cicservices #cybersecurity #riskmanagement #captiveinsurance https://lnkd.in/gkx9_WDK

💡 DID YOU KNOW... Here are the top 5 Cyber Liability Insurance Claims that businesses and individuals face today: 𝟏. 𝐒𝐨𝐜𝐢𝐚𝐥 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠: Manipulating people into revealing confidential information. 𝟐. 𝐃𝐚𝐭𝐚 𝐁𝐫𝐞𝐚𝐜𝐡: Unauthorized access to sensitive data. 𝟑. 𝐒𝐭𝐨𝐥𝐞𝐧 𝐅𝐮𝐧𝐝𝐬: Cybercriminals stealing money through fraudulent transactions. 𝟒. 𝐑𝐚𝐧𝐬𝐨𝐦𝐰𝐚𝐫𝐞: Malicious software that locks data until a ransom is paid. 𝟓. 𝐈𝐝𝐞𝐧𝐭𝐢𝐭𝐲 𝐓𝐡𝐞𝐟𝐭: Stealing personal information to commit fraud. Stay informed and protect yourself from these common cyber threats! 🛡️🔒

🚨 When 2FA Can Make or Break Your Insurance Claim In 2021, electronics manufacturer ICS faced a ransomware attack that turned their operations upside down. With a $1 million cyber insurance policy from Travelers Insurance, they thought they were safe from financial fallout. The Twist? When they filed the claim, Travelers denied it—because ICS didn’t have 𝗧𝘄𝗼-𝗙𝗮𝗰𝘁𝗼𝗿 𝗔𝘂𝘁𝗵𝗲𝗻𝘁𝗶𝗰𝗮𝘁𝗶𝗼𝗻 (𝟮𝗙𝗔) enabled on their systems. Despite claiming otherwise on their application, this oversight cost them dearly. 💡 The lesson: 2FA isn’t just about keeping hackers out—it’s about keeping your insurance in. Don’t wait until it’s too late to get your security measures right. 🔍 Is your business truly secure? Make sure 2FA is 𝗲𝗻𝗮𝗯𝗹𝗲𝗱 𝗔𝗡𝗗 𝗺𝗼𝗻𝗶𝘁𝗼𝗿𝗲𝗱 to avoid a costly surprise. #CyberSecurity #2FA #Ransomware #InsuranceDenial #RiskManagement #TravelersInsurance #BusinessProtection #FrontierZero

It’s unsurprising that the news of others’ cyber-related losses experienced, or one’s own cyber-related loss are the top two factors behind #CyberInsurance sales. But the third factor on the list is a more recent symptom of the h#CyberThreat landscape, as more organizations require business partners have cyber insurance. Learn how cybersecurity support improves your insurability. Get the report: https://bit.ly/49knxmA For More Inquires / Purchase, Kindly Send Us An Email: [email protected] Phone: (+255) 683 901 203 #networkdistributiontanzanialtd #awardwinningdistributor #youronestopitdistributor #valueaddedservices #sophos #cyber #insurance #threats

In the wake of the recent alleged data breach affecting 7.5 million boAt customers, businesses are reminded of the critical importance of cybersecurity measures. Prevention remains paramount, but it's equally essential to be prepared for unforeseen circumstances. One proactive step towards fortifying the defenses is to consider cyber insurance. Cyber insurance is a specialized coverage designed to shield businesses from the financial repercussions of cyberattacks, data breaches, and other digital mishaps. This coverage provides financial support for various expenses incurred in the aftermath of a cyber incident. From data recovery and legal fees to regulatory fines and customer notification costs, cyber insurance offers a safety net against the extensive financial implications of cyber threats. In today's landscape, where digital threats loom large and the stakes are higher than ever, cyber insurance emerges as a pivotal safeguard. Let's explore proactive measures like cyber insurance to fortify the defenses and safeguard against the evolving digital threats of the modern age. #Cybersecurity #DataProtection #CyberInsurance #DigitalSafety

NFU Mutual’s research with tradespeople shows that theft of tools and equipment is not their only concern. In fact, 70% of them are worried about the risk of cybercrime. Cyber Insurance helps protect businesses against a variety of digital risks they may face. It can provide financial support in case of a cyber incident such as a cyber attack or data breach, and also gives access to necessary expertise such as legal and IT specialists to help respond and recover as quickly as possible. Speak with us today to find out more 02837522649