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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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Understanding the CrowdStrike Attack and Cyber Insurance

ProWriters

The CrowdStrike outage is also a stark reminder: No organization is invulnerable to disruptive, costly, and potentially disastrous cyber incidents. This incident caused the data access challenges, service interruptions, and damage to revenue and reputation an actual supply chain cyber attack can cause. What Is the CrowdStrike Attack?

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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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Is Your Website Safe? How To Stay Secure Amid Increasing Cyber Threats

Neilson Marketing Services

A single breach could lead to devastating consequences, including financial losses, legal liabilities, damage to your reputation, and the potential loss of client trust. A security breach could not only harm your clients but also expose you to legal risks, compliance issues, and significant reputational damage.

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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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Why Retail Cyber Insurance Is Non-Negotiable

ProWriters

As our shops go virtual, so do the risks. The retail sector has seen a significant uptick in cyber threats, with ransomware attacks surging by 75% in 2022, according to Sophos. Common cyber threats retailers encounter include data breaches and ransomware attacks, which have become more sophisticated over time.

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