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Cyber Resilience in the Digital Age: The Imperative of Cyber Insurance for Technology Companies

Jackson & Jackson

In an era where data is as valuable as currency, the risk of cyber threats looms more significant than ever, particularly for technology companies. Cyber Insurance, encompassing Data Breach and Cyber Liability coverage, is no longer optional but a critical component of a comprehensive risk management strategy.

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New Cyber Security Requirements for Financial Services Companies

ProWriters

Globally, only the manufacturing sector sees more cyber attacks than the financial industry does. The New York Department of Financial Services (NYDFS) established cyber security requirements for financial services companies in 2017. Since then, the cyber security landscape has changed. The newest changes went into effect Nov.

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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. The 2023 Data Breach Report from Identity Theft Resource Center (ITRC) reveals that last year delivered a bumper crop of cybersecurity failures – 3,205 publicly reported data compromises, impacting an estimated 353,027,892 individuals.

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Combating Fraudulent COVID Unemployment Claims

Risk Management Monitor

As federal and state officials scramble to send unemployment and stimulus funds to help people hit hard by COVID-19 business shutdowns, it has become a perfect storm for cyber fraud. The payments are an easy target for cybercriminals as hackers and cyber gangs around the world have started to file unemployment claims use stolen identities.

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Protect Your Clients Against Data Breaches

ProWriters

companies faced the risk of a significant cyber attack. Analysts project cyber crime to cost the U.S. For most companies, a cyber breach isn’t a question of if but when. As a Cyber Insurance broker, you can learn from their mistakes to help protect your clients. trillion by 2028. How prepared are your clients?

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Common Myths About Commercial Insurance Debunked

Protect Commercial Insurance

Myth 3: You Don’t Need Cyber Insurance Unless You’re A Tech Company It might seem logical to assume that if you’re not operating within the tech industry, cyber threats are not a significant concern. Understanding these specific terms and conditions is critical for effectively leveraging this insurance.

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

Neilson Marketing Services

Such breaches can lead to identity theft, legal ramifications, and irreparable damage to your reputation. In addition to protecting your data, secure hosting ensures your business operations continue uninterrupted — even in the face of growing cyber threats. Let’s make things happen, together! The post Is Your Website Safe?

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