As a result of increased rates of cyber attacks, company directors and officers are now facing greater regulatory oversight to disclose cyber security issues, says Mr Henry Clark - head of Professional & Executive Risks at the Australian international brokerage Honan Insurance Group.
The gap in cyber security skills is not just a talent shortage challenge, it is also severely impacting business, making it a top concern for executive leaders worldwide.
Cyber criminals are now deceiving victims with deepfakes and crypto scams to access financial and personal information according to Norton Labs quarterly Consumer Cyber Safety Pulse Report sharing the top consumer cyber security insights and takeaways during the first quarter of 2022.
The global digital fraud rate decreased in the first quarter of 2022 with suspected online fraud attempts declining by 22.6% from the first quarter of 2021 according to TransUnion's quarterly digital fraud analysis.
The average ransom paid in ransomware attacks in 2021 increased fivefold as compared to 2020 according to the annual survey the State of Ransomware 2022 by cyber security firm Sophos.
Cyber threats, macroeconomic change and geopolitical turbulence will significantly influence the emerging risk landscape according to the annual ORX 2022 Operational Risk Horizon report.
Insurance companies are seeing growth in cyber insurance business in both the individual and corporate segments due to a rise in the number of cyber attacks.
Cyber risks dominate the top five risks facing directors and officers according to the latest annual survey by WTW and Clyde & Co.
Insurance brokers can play a critical role in helping educate customers about how to improve resilience and ensure that they take reasonable steps to protect themselves and increase their cyber security.
A new study conducted by cyber security company Surfshark has found that children in India have the strongest online risk management skills due to their ability to cope with cyber bullying and its consequences.