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Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Parametrix

Insurance Journal

The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 The portion of the loss covered under cyber insurance policies … billion, modeling and insurance services firm Parametrix estimates.

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Don’t Let Your Clients Ignore These Cyber Threat Headlines

ProWriters

Cyber threats continue to challenge individuals, countries, and companies in today’s digitally interconnected world. Have your business clients assessed their cyber risk recently and obtained adequate Cyber Liability Insurance? And some of these conflicts pose cyber security threats.

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The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.

Triple-I: Business Insurance

Cyber incidents reported to the FBI’s Internet Crime Complaint Center (IC3) in 2023 totaled 880,418. billion in losses, with investment scams making up $4.57 Meanwhile, supply-chain attacks increased, and weak notification frameworks further increased cyber risk for all stakeholders.

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Why Retail Cyber Insurance Is Non-Negotiable

ProWriters

The retail sector has seen a significant uptick in cyber threats, with ransomware attacks surging by 75% in 2022, according to Sophos. Retail Cyber Insurance protects your clients’ businesses from cyber threats, helping to maintain operational continuity, a seamless shopping experience, and customer trust.

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Cyber Insurance for Contractors: What It Covers & Why They Need It

ProWriters

Contractors in the construction industry are not immune to cyber attacks. Ransomware attacks, phishing scams, and other types of cyber attacks can result in data breaches and other incidents that cause financial loss, reputational harm, and legal consequences. Cyber Insurance for contractors is an essential safety net.

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A Behind-the-Scenes Look at Data Breach Forensics

ProWriters

Sure, you’ll need to assess the compromised data and financial losses, but to truly understand the breach and protect against future risks, data breach forensics is essential. Let’s break down the steps involved in a data breach forensic investigation and see how the experts pull back the curtain on cyber crime.

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Emerging Trends in Commercial Insurance: What to Watch Out for in 2024

Protect Commercial Insurance

The Rise of Cyber Insurance As cyber threats become more sophisticated and frequent, the demand for cyber insurance has skyrocketed. Companies of all sizes are increasingly targeted by cybercriminals, and the consequences can be devastating—from financial losses to reputational damage.