The threats and players are becoming increasing diverse on the field of cyber risk insurance. (Photo: winui; Bariskina/shutterstock.com)
Today's technology has put the world at our fingertips. Unfortunately, it has done the same for threat actors. Everywhere we look, cyberattacks are on the rise. From the rise in 'bot' attacks on financial services to the growing threat of brute-force attacks in Brazil, to an increasing number of sophisticated hands-on hacking campaigns, cybercriminals continue to evolve their practices and tools to exploit vulnerabilities.
With system attacks on the rise, so are the costs of dealing with these events. The expense of responding to cyber data and security incidents can be crippling to an organization. Consider ransomware demands running six to eight figures, investigation and attendant notification costs, regulatory inquiries, and the cost to defend third-party lawsuits. Not to mention damage to the affected brand and loss of customers that typically result from a cyber incident.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
