Twenty-one percent (21%) of S&P 500 companies experienced breaches in 2023, according to a report by SecurityScorecard. IBM states the average cost of a data breach globally last year was $4.45 million—a 15% increase over the...more
Followers of the cyber insurance market over the past two years may be suffering from whiplash—that’s how dramatically the market shifted from 2022 to 2023. A perfect storm of good trends and facts combined to create a soft...more
In our annual Cyber Looking Ahead Guide published in January 2023, we looked at market trends and prognosticated on issues that would impact the cyber insurance market throughout 2023. As we hit the halfway point of the year,...more
The California Consumer Privacy Act (CCPA) made history when it came into effect on January 1, 2020, as it was the first comprehensive data privacy law in the United States. It was designed to grant California residents...more
Many prominent tech companies have recently conducted mass layoffs—some as a response to the slowing economy, and others to correct for pandemic hiring sprees. Whatever the reason, one of the risks that arise when laying off...more
The landscape for preventing, responding to, and avoiding the fines and other costs associated with data breaches has changed in the last three years. Since the beginning of the pandemic, data breaches have been on the rise...more
3/20/2023
/ Cyber Incident Reporting ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Breach Plans ,
Data Privacy ,
Data Protection ,
Data Security ,
Incident Response Plans ,
Liability Insurance ,
Personally Identifiable Information ,
Popular
In today’s modern and often hybrid workplace, there is no magic bullet for preventing data breaches—they can come from a variety of angles and thus require a vigilant, multifaceted approach. Implementing a wide-reaching...more
After two years of volatility, cyber liability prices finally appear to be normalizing due to factors that include a downturn in price increases and a lower frequency of ransomware attacks in 2022—all of which have resulted...more
After two years of price increases, the cyber insurance market is normalizing as we head into 2023. Insurance carrier loss ratios are healthier now than they have been in the past few years— a result of price increases and a...more
Cyber liability insurance coverage is not a one-size-fits-all blanket policy that can be applied to all types of businesses. Every organization has choices as to what types of cyber liability coverage it needs to protect...more
Email scams and viruses are nothing new—threats like phishing emails and malware have been around since the days when services like AOL still dominated the internet and email landscape. However, while technology has made a...more
8/26/2022
/ Cyber Attacks ,
Cyber Insurance ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Email ,
Hackers ,
Phishing Scams ,
Popular ,
Risk Mitigation ,
Scams
While the early days of cyber insurance were often marked by rapid expansion and low losses, recent years have seen the industry weather a vast increase in not just the number of claims but also the severity. The growing...more
Cyber liability insurance is becoming more ubiquitous, more unpredictable, and in some cases more confusing than ever, which makes understanding your risk even more critical in 2022.
Join Woodruff Sawyer experts Dan Burke,...more
1/19/2022
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Insurance Brokers ,
Insurance Industry ,
Popular ,
Ransomware ,
Risk Management ,
Webinars
1.0 CYBER MARKET UPDATE -
1.1 US Market Update -
To call 2021 anything other than a sea change in the cyber insurance world would be an understatement. Indeed, nearly all cyber insurance renewals saw increases in...more
1/11/2022
/ Board of Directors ,
Commercial Insurance Policies ,
Cyber Attacks ,
Cyber Insurance ,
Cyber Threats ,
Cybersecurity ,
D&O Insurance ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Ransomware ,
Supply Chain
Cyber attacks continue to be one of the most concerning risks to businesses. COVID-19 is only exacerbating those risks. Add to that the D&O litigation that happens after a cyber event, and you have a recipe for disaster for...more
1/4/2022
/ Board of Directors ,
Corporate Governance ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Incident Response Plans ,
Personally Identifiable Information