Companies and individuals increasingly rely on digital technology to work, to entertain, to purchase, to sell, to travel, and to live. Smart insurance professionals have caught on and are developing products to respond as required in order to mitigate risk.
But the distinctive characteristics of cyber risks make this area a challenge. More often than not, the items at risk are intangible. Criminals don't have to be physically close to steal information and digital currency. Terrorists can undermine infrastructure without any direct physical contact.
To address these cyber risks, underwriters and claims professionals are partnering with experts in data, computing and analytics. As the clash between digital security and cyber piracy continues to intensify, risk analysis must be ceaseless and mitigation factors must be continuously improved.
The challenges are substantial, but so are the rewards. Experts estimate that worldwide revenue in cyber insurance premiums and services could increase tenfold – from USD $2 billion to $20 billion – within 10 years.
- Cyphercor enters strategic partnership with BOXX InsuranceThe new partnership with LoginTC Assure will allow BOXX to write more cyber policies and further strengthen the security posture of existing policyholders Toronto, ON (Sept. 14, 2022) – Cyphercor Inc., a cybersecurity startup that provides simple and secure multi-factor authentication (MFA) ...
News and Articles
- Cyphercor enters strategic partnership with BOXX Insurance
- Just one-third of smaller business employees report receiving mandatory cyber security awareness training
- AXIS Launches Streamlined Cyber and Liability Policy for Small and Mid-Sized Businesses
- Coalition Releases 2022 Cyber Claims Report: Mid-year Update
- Coalition Completes Acquisition of Insurance Carrier With Licenses In All 50 States
- BlackBerry Cyber Insurance Study Reveals Businesses Hope for Greater Assistance in Paying Ransomware Demands
- CyberCatch Partners With Ridge Canada to Help Small & Medium-Sized Businesses Obtain Cyber Insurance
- DataStream Expands Into Canada With Cyber Insurance Policy Options
- Deloitte Expands Managed Extended Detection and Response Platform With Four New Modules and Enhanced Intelligence
- Beazley Cyber Services Snapshot reveals increasing threats of data exfiltration as extortion techniques evolve