Cyber Insurance Blog

When a client experiences a data breach, the first move is obvious—find the entry point and stop the damage. But after the initial response, what’s next? Sure, you’ll need to assess the compromised data and financial losses, but to truly understand the breach and protect against future risks, data breach forensics is essential. Data breaches don’t just happen in a…

Modern businesses rely on cloud storage, connected digital devices, and online apps to serve their clients. As an insurance broker, you likely recognize that while these technologies drive business operations, they also increase vulnerability to cyber crime, making Cyber Insurance a necessity for your clients. Helping your clients understand cyber risks and Cyber Insurance policy jargon can be challenging. But…

Employees today are keenly aware of their rights and quick to take action when they believe employers violate those rights. In FY 2023 alone, the U.S. Equal Employment Opportunity Commission (EEOC): Received 81,055 new discrimination charges (a 10.3% increase over FY 2022). Filed 143 new lawsuits on employees’ behalf (a greater than 50% increase). Obtained more than $22.6 million for…

Cyber threats continue to challenge individuals, countries, and companies in today’s digitally interconnected world. Whether they are familiar but no less dangerous risks like ransomware attacks or denial-of-service (DoS) attacks, or whether they take such still-emerging forms as cryptojacking or AI-powered phishing campaigns, cyber security threats require constant vigilance and proactive protective measures, especially given current events. Have your business…

In February 2024, United Healthcare subsidiary Change Healthcare fell victim to a devastating ransomware attack. The United Healthcare breach, called the “most significant cyber attack on the U.S. healthcare system” by the American Hospital Association, disrupted vital healthcare operations nationwide. The attack on Change Healthcare, which processes more than 15 billion transactions yearly—about one-third of U.S. patient records—highlights the constant…

According to chief information security officers (CISOs), in 2023, three out of four U.S. companies faced the risk of a significant cyber attack. Analysts project cyber crime to cost the U.S. more than $452 billion in 2024, potentially reaching $1.8 trillion by 2028. For most companies, a cyber breach isn’t a question of if but when. So, how should your…