Lisa Horn’s Post

Data is the lifeblood of any underwriting process, but especially for such a fluid and multi-faceted peril like Cyber. After the market experienced its first major loss trend with ransomware, underwriters are seeking to evidence the true impact of their underwriting actions to their BoM, regulators and capital providers alike. Using data to untangle the reduction in frequency from re-underwriting measures, and that caused by other external events, will be key in determining the current health of the market. Part 1 of our cyber #insurance knowledge series, the impact of re-underwriting on ransomware written by Timothy Marshall and Paul Hodges: https://lnkd.in/ddxiiENS

💻📈 Recent reports indicate a significant rise in cyber insurance claims. For instance, in the first half of 2023, there was a 12% increase in cyber claims over 2022, with notable spikes in ransomware and funds transfer fraud incidents. Furthermore, the severity of these claims surged by a staggering 117% increase compared to the previous 2022. These figures highlight the growing frequency and impact of cyber incidents, making cyber insurance more critical than ever for businesses looking to mitigate financial risks associated with cyber threats. 👉🏼 Need business insurance? Contact us today at https://lnkd.in/dm9iH9RP and we will help you find the best coverage for your business needs. #MarbleCityInsurance #insurance #insurancematters #insuranceawareness #carinsurance #homeinsurance #businessinsurance #lifeinsurance

With #cyberattacks on small to large businesses on the rise and #cybercriminals become more sophisticated in their attacks, cyber insurance coverage has become a necessity. Please sign up for Webinar and learn more about the #Cyberinsurance from #CMITSolutions

IT outages such as the one involving CrowdStrike are likely to occur more often in the future. Businesses can prepare for such events by quantifying their cyber risk, creating plans that minimise the downtime of critical functions, and securing effective cyber insurance coverage. Read more about the importance of cyber insurance in this article by Lucy Scott of Lockton - https://lnkd.in/eguUc8eP

With cyberattacks projected to cost $9 trillion in damages next year, ensuring your business has the right protection in place has never been more critical. Join us for our upcoming webinar to explore cyberthreats and how cyber insurance can safeguard your company’s financial future. 𝐖𝐡𝐚𝐭 𝐲𝐨𝐮'𝐥𝐥 𝐥𝐞𝐚𝐫𝐧: - Key industry updates and their impact on your coverage - What cyber insurance covers and why it’s crucial for SMBs - Best practices for securing coverage, including Multi-Factor Authentication and 24/7 Security Monitoring 📅 Date: September 26, 2024 | Time: 10 AM PT / 1 PM ET 👉 Register here to secure your spot: bit.ly/cybweb

Please join us on Sept. 26th for this important webinar regarding CYBER INSURANCE. It should not be just a rider on your business policy. #cyberinsurance #cyberprotection #itmanagedservicesprovider #manageditservices

As cyberattacks continue to rise, the reality is that no business—big or small—is immune. Protecting your financial future is more than just having the right security in place; it's about being prepared for the unexpected.   That’s why I believe cyber insurance is a must for every business, and I’m excited to share this upcoming webinar from our team at CMIT Solutions. Join us to learn how you can ensure your business is protected in today’s world of constant cyberthreats.   Stay ahead of the curve, and make sure you're ready for whatever comes next.

Trying to navigate the Cyber Insurance waters? Attend our webinar to get the latest updates and insights.

In the insurance industry, cyber risk headlines are dominated by rising ransomware activity and soaring global data breach costs. The increased ransomware activity has affected all industry segments, leading to notable changes in the cyber insurance market. Pared-back coverage, increased pricing, and limited capacity are some of the key trends. However, another important but less discussed exposure point is the growing IT asset disposition (ITAD) and secure shipping industry, which poses data breach risks. Stay informed and protected with Resource 1 Tier 3 Data! #CyberRisk #ITAD 🛡️🔒

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 01334 652594