While the dollar doesn’t go as far as it used to, cybercrime mayhem is surprisingly cheap — as little as $5 a hack. This sort of attack has been dubbed "cybercrime as a service." It’s an emerging cybersecurity threat that involves a hacker being hired on the dark web by a third party to hack [...]
Ransomware is a top threat for business, accounting for a high percentage of cyber attacks. Yet more than half of organizations may be underprepared. For non-technical professionals, questions abound. Since incidents vary so much from one attack to the next, many aren’t sure of their risks or what to do about them. Here’s what you [...]
Cyber insurance has dramatically evolved since the first coverages were added to other policy forms in the 1990s. Traditionally, cyber coverages were only considered necessary in the technology industry — or for those providing technology-related professional services. It was the dawn of the digital age and growing cyber risk exposures across all industry classes that [...]
Despite a history stretching back more than a quarter century, cyber insurance continues to evolve. Frequently, the cyber insurance industry experiences rapid changes, impacting everything from underwriting to coverage to regulatory influence. With all the big cyber events of 2022, Lockton Affinity and CyberLock Defense see more change on the horizon for the cyber insurance [...]
In business, a tailored solution is important. One size doesn’t fit all — whether you’re talking about conference attire or managing business risks. Cyber insurance is one area where the wrong fit can be particularly risky. Different industries face different risks, so it's important to choose protection that's tailored to your business needs. The same [...]
The right expertise can make all the difference in a cyber security breach, which is why we assembled the CyberLock Defense HDI Panel to provide a full range of cyber specialist resources for policy holders. Cyber-related claims are increasing. Cyber attack losses to businesses almost doubled between 2017 and 2018, from $1.4 billion to $2.7 [...]
Cybersecurity is an area today's organizations can't afford to ignore. According to cybersecurity experts, system access, customer data, business credentials and communications are all vulnerable. Plus, an attack can damage trust and harm your business. Explore these real cyber attack claims CyberLock Defense has covered: Cyber Attack Claim #1—Ransomware attack A mid-sized hospital network was [...]
The cost of a cyber attack now averages more than $1 million and the threat is increasing, so it's more important than ever to get the coverage you need. While you may think all cyber liability insurance coverage is similar, it is important to know what questions to ask so you can find the [...]
Typically, manufacturing companies do not consider themselves at risk for cyber attacks and have failed to take measures to secure their systems and data. However, as manufacturing businesses continue to increase their use of advanced technologies to create better and more efficient processes, there are increased cyber threats against manufacturing business. Cyber Threats against Manufacturing [...]