Remove Financial Loss Remove Insurance Industry Remove Theft
article thumbnail

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

Triple-I: Business Insurance

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. Investment fraud was the costliest of all incidents tracked. billion in 2022 to $3.94

article thumbnail

What Your Clients Must Know About Cyber Insurance War Exclusions

ProWriters

As war is driving cyber security concerns around the globe, more organizations are turning to Cyber Insurance for protection. Cyber Insurance war exclusions can leave businesses vulnerable to financial loss. Merck won an appeal against and ultimately settled the coverage dispute with its insurers.

Cyber 53
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

Neilson Marketing Services

For businesses in the insurance sector, which handles vast amounts of sensitive client data, this threat is especially menacing. A single breach could lead to devastating consequences, including financial losses, legal liabilities, damage to your reputation, and the potential loss of client trust.

Cyber 104
article thumbnail

Understanding Multi-Family Property Insurance in California.

Jackson & Jackson

. “Understanding Multi-Family Property Insurance” Commercial property insurance is a vital safeguard for property owners, protecting their assets against various risks. It covers property damage, loss of income, liability claims, etc. Every property is unique, with different risks and potential exposures.