Coalition, Inc.’s Post

Review the most significant trends from past Coalition, Inc. Cyber Claims Reports before exploring the main trends from the new 2024 report. You'll learn about the upward trend in cyber claims, which boundary decides are more likely to lead to claims, and why threat actors continue to monetize cybercrimes through funds transfer fraud.

Review the most significant trends from past Coalition, Inc. Cyber Claims Reports before exploring the main trends from the new 2024 report. You'll learn about the upward trend in cyber claims, which boundary decides are more likely to lead to claims, and why threat actors continue to monetize cybercrimes through funds transfer fraud.

What's happening in the world of cyber claims? TechTarget highlighted our recent ransomware claims trends and included commentary from our Head of Incident Response, Chris Hendricks. "We've definitely seen several cases where it's not just social engineering of the victim but then also social engineering of things like tech support or support at the banks or phone companies pretending to be the person." Learn more about our claims data from the first half of 2023. #cyberinsurance #ransomware #cyberrisk

❓ Did you know ❓ Businesses are nearly five times (!!) more likely to be a victim of a cyber attack than a fire. Plus, they’re 67% more likely to have to go through a cyber incident than a physical theft incident. Cyber attackers know the immense value that’s lying in your organization’s databases: customer data, patient data, financial data… the list goes on. If you haven’t started looking into investing in your cybersecurity stack yet – especially for your databases, and more so for access management to those databases – then as the saying goes, better late than never. Ps: Start with Apono! https://lnkd.in/gNT6JuKC

When the goal is to remain in business (operationally up), not paying a ransom may be a tough sell for some organizations. Resiliency, along with pro-active cybersecurity investment, seems to be the best path forward. There is no disagreement though on these key take aways: "every ransom that is paid signals to criminals that these attacks bear fruit and are worth doing." "ransomware groups collectively received record-breaking profits of at least $1 billion last year" #infosec #healthcare #cyberinsurance #HIPAA #HITRUST #ransomware #cybersecurity #resilience #resiliency #compliance #breachnotification #databreach #penetrationtesting

With the advancement of AI, we've officially entered the digital age. Unfortunately, with the rise of technology, there is a magnitude of cyber threats that businesses need to mitigate. Recently, we've seen data breaches and hacks with established businesses such as Optus, Telstra, Medicare and Dymocks. To safeguard your business, it's imperative to develop your knowledge of effective cybersecurity measures. We've outlined everything you need to know in the article below👇🏻👀 https://lnkd.in/gbUCJgFz #cybersecurity #businessowners #cyberthreats #financialsecurity

CFC's broker polling is clear -- we have to do better to join up cybersecurity professionals, risk management and finance folks, and corporate boards. Almost one-third of our brokers have encountered a challenge from their client’s IT lead or department, stating that they didn’t need cyber insurance because there are already locks on their digital doors. We are keen to break down the silo-thinking at the heart of this objection, and provide a comprehensive cyber solution that combines cyber cover, in-house digital forensic incident response, and proactive cyber protection powered by cyber threat intelligence. Please click the below to see more about the results of our polling.