Cyber Insurance
Cyber Insurance – Everything You Need to Know
“By 2025, cybercrime is predicted to cost the world $10.5 trillion annually, making it more profitable than the global trade of all major illegal drugs combined.” – Cybersecurity Ventures. Cyber threats are an ever-present danger for businesses of all sizes. From data breaches to ransomware attacks, the risks are significant and can lead to substantial […]
Cyber Insurance for Fintech: Essential Protection
The fintech revolution has significantly transformed the financial landscape, offering innovative ways to borrow, save, transact, and invest. With fintech revenues projected to grow from $245 billion to $1.5 trillion by 2030, the sector’s expansion shows no signs of slowing down. However, this rapid growth has made fintech an attractive target for cybercriminals, necessitating robust […]
Cyber Insurance and Security Automation Convergence
With fast-evolving technology and unending digital transformations, the business landscape is becoming increasingly prone to cyber attacks and other cyber threats. A study by IDC from 2021 reveals that over 98% organizations have been affected by at least one data breach in the previous 18 months. India itself has witnessed 1787 cyberattacks per week since […]
AI-Based Phishing Attack Using Deepfake Audio
As artificial intelligence (AI) continues to advance, cybercriminals are finding new ways to exploit this technology to carry out sophisticated attacks. A notable example of this is the use of deepfake audio to conduct AI-based phishing attacks. In this case study, we explore a real-life incident where cybercriminals used AI-generated voices to deceive the U.K.-based […]
Top Cyber Insurance Providers in India
“In 2023 alone, cyberattacks cost Indian businesses over $2 billion.“ This staggering statistic underscores the critical need for robust cyber insurance in today’s digital landscape. As cyber threats continue to evolve, businesses of all sizes must safeguard their assets and reputation. In India, several cyber insurance providers have emerged as industry leaders, offering comprehensive coverage […]
Cyber Insurance and Data Breaches: How Coverage Can Save You?
“Cybercrime is the greatest threat to every company in the world.” – Ginni Rometty, Former CEO of IBM. In 2020 alone, the global economy lost over $1 trillion due to cybercrime, a staggering figure that underscores the urgency of fortifying our digital defenses. Data breaches have become an unfortunate reality for businesses across all sectors. […]
The Top Cyber Insurance Requirements Your Business Can’t Ignore
“Cybersecurity is much more than a matter of IT.” — Stephane Nappo. The digital age has transformed the way businesses operate, but with the benefits come significant risks. Cyber threats are on the rise, with data breaches, ransomware attacks, and phishing schemes becoming all too common. In 2023 alone, the average cost of a data […]
Step-by-Step Guide to Applying for Cyber Insurance
“By 2023, cybercrime will cost the world $10.5 trillion annually.” – Cybersecurity Ventures. Cyber insurance is no longer a luxury; it’s a necessity. With the staggering rise in cyber threats, protecting your business from the financial fallout of a cyber-attack is crucial. But navigating the world of cyber insurance can be daunting. This comprehensive guide […]
How to Choose the Right Cyber Insurance for Your Organization
Statistically speaking, you’re more likely to experience a cyber attack than a house fire. A report by Security Magazine found that around 2,200 cyber attacks happen each day, which equates to more than 800,000 people being hacked each year. On the other hand, US fire departments responded to an estimated average of 358,300 home-based fires […]
Comparing Cyber Insurance Policies for Small Businesses
“In today’s digital age, 43% of cyber attacks target small businesses, yet only 14% are prepared to defend themselves.” This staggering statistic highlights the critical need for robust cyber insurance as a component of comprehensive business security. In this detailed guide, we delve into the essentials of cyber insurance policies for small businesses, providing insights […]