The 17th-annual data breach investigations report (DBIR) by Verizon has found that ransomware and the meteoric rise of extortion techniques accounted for a third (32%) of all breaches in last one year.
Insurance rates in the Pacific region declined by 2% in the first quarter of 2024, according to the "Global Insurance Market Index" published by Marsh.
The reinsurance industry must brace itself for cyber attacks targeting government and election infrastructure in 2024 according to a leading cyber risk analysis.
Insurance rates in the first quarter of 2024 declined 2% in the IMEA region, where rates for large and complex organizations are often driven or influenced by the reinsurance market, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Insurance business in the low-altitude economy is expected to take off as demand grows for related services and regulations are gradually improved which facilitates growth.
Insurance rates in the first quarter of 2024 in Asia declined 2% after being flat for the three prior quarters, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Cyber attacks have more than doubled since the pandemic and while companies have historically suffered relatively modest direct losses from cyber attacks, some have experienced a much heavier toll.
Over eight in 10 organisations encountered one cyber security incident in a year, the Cyber Security Agency of Singapore (CSA) said in its Singapore Cybersecurity Health Report 2023.
A recent study leveraging external and internal datasets has revealed that the protection afforded by cyber insurance may fall significantly short of the actual costs incurred during cyber incidents.
The insurance market must resist the urge to automatically exclude difficult cyber risks and overly focus on a small set of 'improbable' systemic threats according to global insurance broker Marsh.