Virtuelle Group’s Post

Cyber insurance serves as an effective safeguard against a cyber attack by providing time-critical resources and indemnifying your firm for losses. While it’s essential to cover the direct costs associated with a data breach or wire fraud attack, for example, it’s also important to consider the indirect losses stemming from such attacks, including business interruption and reputational damage. Petschauer Insurance's Mathew Kryder explains what many asset managers miss in a guest post for our blog this month. https://lnkd.in/gXR8XWzn #Cybersecurity #cyberinsurance #alternativeinvestments #hedgefunds #privateequity #fundadministration

Cyber insurance is an important consideration for business owners to protect their company from cyber attacks and data breaches. Learn more below! 💻 https://lnkd.in/gSt89EwZ

The cybersecurity landscape is rapidly evolving, and the cyber insurance industry is facing significant challenges in keeping up. At #RSAC2024, experts delved into the lack of standardized policy language, which makes it difficult for organizations to evaluate and compare coverage options. With novel AI-driven threats on the rise, underwriters are struggling to assess and price risks accurately. This highlights the importance of thoroughly understanding your first and third-party cyber risks and carefully scrutinizing policy details to ensure adequate protection. Read the full article for valuable insights and advice on navigating this complex domain: https://lnkd.in/gNA_Wz_w #CyberInsurance #RiskManagement #InfoSec

As the frequency of high-profile cyberattacks intensifies, businesses are facing a surge in cyber insurance premiums, a trend underscored in Sulagna Saha's article. This increase reflects the growing recognition of the financial risks associated with data breaches and the essential role of insurance in a comprehensive cybersecurity strategy. The market shift signals an urgent need for companies to bolster their security measures and evaluate their insurance coverage to navigate the challenging cyber threat landscape. Read more in this Gestalt IT article, inspired by a delegate discussion at Security Field Day. #XFD11

It’s unsurprising that the news of others’ cyber-related losses experienced, or one’s own cyber-related loss are the top two factors behind #CyberInsurance sales. But the third factor on the list is a more recent symptom of the #CyberThreat landscape, as more organizations require business partners have cyber insurance. Learn how cybersecurity support improves your insurability. Get the report: https://gag.gl/yZfxAj

It’s unsurprising that the news of others’ cyber-related losses experienced, or one’s own cyber-related loss are the top two factors behind #CyberInsurance sales. But the third factor on the list is a more recent symptom of the #CyberThreat landscape, as more organizations require business partners have cyber insurance. Learn how cybersecurity support improves your insurability. Get the report: https://gag.gl/Cil0k3

The Professional Services Practice at Aon has published the attached thought leadership entitled "Pushing the Limits – How Much Cyber Insurance Do Professional Service Firms Need?" In the current threat environment, this is an essential topic of discussion for professional service firms of all sizes. #cyber #cyberinsurance #lawfirms #riskmanagement

About 38% of Australian and New Zealand businesses have trouble figuring out their cyber insurance needs, according to a survey by IT security specialist Arctic Wolf. #InsuranceNews #ArcticWolf #SurveyReport #CyberInsurance #Cybersecurity

Cyberattacks continue to rise, so securing cyber insurance should be a top priority for organizations across industries. We insist that businesses go beyond the policy, though, and look into identity security that qualifies the requirements. Amidst the choices of insurance companies, 41% demand proof of privilege access controls or authorization before companies are granted coverage, and in the U.S., 95% of companies report the need to invest in identity security solutions as a qualifying requisite. More details here: https://heyor.ca/s3vEWO Thus for MSPs and MSSPs, guiding clients through these evolving requirements can make all the difference. Implementing advanced identity security measures - the right way - not only helps businesses secure the insurance they need but also bolsters their professionalism. #MSP #MSSP #IdentitySecurity #CyberThreats #CyberInsurance

Is your business protected against cyber threats? Cyber insurance isn’t just an option; it’s a necessity for businesses of all sizes. Protecting your organization from cyber threats is crucial, especially when the average data breach can cost millions. Stay informed with our '5 Things You Might Not Know About Cyber Insurance. #DTC #Blog #CyberInsurance #BusinessProtection #StaySecure https://lnkd.in/eHX-yxaG