With an ever-increasing number of cybersecurity threats and attacks, companies are becoming motivated to protect their businesses and customer data both technically and financially. Finding the right insurance has become a key part of the security equation, which is no surprise given that the average cost of a data breach in the US has risen to $9.44 million — more than twice the global average of $4.35 million.
The global cyber insurance market was valued at $13.33 billion in 2022, according to research by Fortune Business Insights, and is expected to grow from $16.66 billion in 2023 to $84.62 billion by 2030. North America is projected to dominate the market due to increasing cyberattacks, particularly ransomware, and a high risk of data loss, while Europe will also gain a prominent market share, in part because “digitalization among organizations remains vulnerable to malicious cyberattacks.”
To read this article in full, please click here
More Stories
German Police Shutter 47 Criminal Crypto Exchanges
Officers in Germany have shut down 47 cryptocurrency exchanges they accused of facilitating cybercrime Read More
Friday Squid Blogging: Squid Game Season Two Teaser
The teaser for Squid Game Season Two dropped. Blog moderation policy. Read More
Clever Social Engineering Attack Using Captchas
This is really interesting. It’s a phishing attack targeting GitHub users, tricking them to solve a fake Captcha that actually...
US Cyberspace Solarium Commission Outlines Ten New Cyber Policy Priorities
In its fourth annual report, the US Cyberspace Solarium Commission highlighted the need to focus on securing critical infrastructure and...
Cybersecurity Skills Gap Leaves Cloud Environments Vulnerable
A new report by Check Point Software highlights a significant increase in cloud security incidents, largely due to a lack...
Going for Gold: HSBC Approves Quantum-Safe Technology for Tokenized Bullions
The bank giant and Quantinuum trialed the first application of quantum-secure technology for buying and selling tokenized physical gold Read...