Remove Insurance Remove Malware Remove Risk Management
article thumbnail

Cyber Insurance 101: 5 Things Senior Management Needs to Know

Reciprocity

Hence cyber insurance has become a lucrative product for insurance companies, and a must-have for businesses that want to offset the costs of attack-inflicted damage. What Is Cyber Insurance and Why Do You Need It? Cyber insurance costs can vary due to a number of factors. What You Need to Know About Cyber Insurance.

article thumbnail

Data Protection Predictions from Experts for 2025

Solutions Review

This heightened accountability is set to redefine service contracts and risk management strategies. Cyber Liability insurance will increasingly require a privacy audit. As the number of privacy breaches and privacy violations continues to rise, cyber insurers will demand more thorough privacy programs at underwriting.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Cyberrisk Management Tips for Businesses Amid the Russia-Ukraine War

Risk Management Monitor

Attacks attributed to Russia have been launched against a range of targets in Ukraine, including new destructive malware campaigns , targeted information-gathering against a range of civilian and government targets, and attacks on critical infrastructure. Evaluate and if possible, test your business continuity plans.

article thumbnail

3 Real-Life Cybersecurity Incidents… and What They Can Teach You

NexusTek

Incident 1: Malicious Web Browser Update A large insurance company with a nationwide presence was the victim of a ransomware attack that began with a social engineering scheme. In late 2021, the company’s employees found that they could not access digital files as usual—the result of a malware infection.

article thumbnail

3 Real-Life Cybersecurity Incidents… and What They Can Teach You

NexusTek

Incident 1: Malicious Web Browser Update A large insurance company with a nationwide presence was the victim of a ransomware attack that began with a social engineering scheme. In late 2021, the company’s employees found that they could not access digital files as usual—the result of a malware infection.

article thumbnail

Risk Assessment vs Risk Analysis

Reciprocity

Although people often use the words “assess” and “analyze” interchangeably, the terms are not synonymous in risk management. A risk assessment forms the backbone of your overall risk management plan. Security risks aren’t the only type of risk that organizations face.

article thumbnail

Strategies for Digital Risk Protection

Reciprocity

Hence cybersecurity risk management is crucial to prevent and mitigate cyber threats. To combat those threats, businesses need to develop digital risk management. We can define that as the processes used to assess, monitor, and treat the risks that arise from the digital business processes that are so common today.