
ProWriters Cyber Insurance Blog
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Understand Cyber Insurance and security threats with ProWriters' Cyber Insurance blog. ProWriters is an independent underwriting and brokerage facility serving agents & brokers. We focus on E&O, D&O, and Cyber Insurance.
ProWriters Cyber Insurance Blog
1w ago
Unpatched vulnerabilities pose significant security threats to modern organizations, increasing susceptibility to data theft, financial losses, and reputational damage. According to a 2019 survey from the Ponemon Institute, 60% of breach victims said they were compromised due to known vulnerabilities they didn’t patch. A 2021 industry report also identified unpatched security vulnerabilities as a primary ransomware attack vector, with 56% of older vulnerabilities still actively exploited by threat actors. These statistics highlight the importance of implementing proactive risk management strat ..read more
ProWriters Cyber Insurance Blog
3w ago
Ransomware remains a serious threat to modern organizations as cyber criminals explore new tactics and extortion techniques. According to recent industry reports, ransomware payouts in the U.S. reached a record high in 2021, with more than $1 billion paid to threat actors. This trend is expected to continue in the years ahead, encouraging organizations to strengthen their defenses and protect themselves with Cyber Insurance.
Cyber security brokers play an important role in helping organizations manage ransomware risks. This article explores the latest tactics threat actors use to launch cyber ..read more
ProWriters Cyber Insurance Blog
1M ago
Artificial intelligence (AI) is revolutionizing industries, allowing organizations to speed up research and development, streamline processes, and make better, data-driven decisions. Global AI spending is forecasted to hit $154 billion in 2023 as businesses recognize its potential to transform operations. However, while AI can bring great value to organizations, its adoption also poses legal challenges. With the ability to learn, adapt, and create content independently, this technology can potentially lead to violations of intellectual property (IP).
Cyber security brokers can mitigate these r ..read more
ProWriters Cyber Insurance Blog
7M ago
Do you remember the playground game Monkey in the Middle? What if the “monkey” had a way to grab the ball without anyone realizing it?
Essentially, adversary-in-the-middle (AiTM) attacks are phishing scams that allow cyber criminals to do just that. But the intercepted “ball” is access to online accounts that can lead to costly data breaches and business email compromise (BEC).
In July, Microsoft announced it had tracked and analyzed a large-scale AiTM campaign that targeted more than 10,000 organizations since September 2021. The attacks successfully “stole passwords, hijacked a user’s sign ..read more
ProWriters Cyber Insurance Blog
9M ago
Any business that collects and stores data is vulnerable to cyber attacks and data breaches. Unfortunately, being the victim of a data breach can have serious consequences for businesses, including lawsuits for a data breach, which often result in significant financial losses. In 2022, the average cost of a data breach reached a new high of $4.35 million.
These emerging threats in today’s business landscape compel companies to ramp up their cyber security efforts and invest in a policy to protect the organization from new threats.
This Legal Perspective webinar delves into the legal ramificat ..read more
ProWriters Cyber Insurance Blog
9M ago
Today’s cyber threat landscape is treacherous. No business or organization, of any size, can safely ignore cyber security risks and controls.
We at ProWriters want to help you educate your clients about cyber threats they face and preventative controls they can use to manage their risk.
One Dozen Cyber Security Controls Your Clients Can Use
Here are 12 cyber security risk controls businesses and other organizations should implement:
1. Secure Email Gateway (SEG)
An SEG scans incoming and outgoing email for spam, fraudulent content, viruses, and malware, while allowing safe, legitimate message ..read more
ProWriters Cyber Insurance Blog
9M ago
If you work remotely, you’re probably no stranger to VPN—the virtual private network you use to protect your internet connection and privacy, and which allows you secure access to the company’s server.
But while VPNs are used for security, you might be surprised to learn that they aren’t always secure. Many industries have had to play security catch-up since COVID hit, and the majority of the workforce had to access and send information outside of the office building’s network. This dramatic increase in VPN usage (more than 124 percent in the U.S.) resulted in expanded opportunities for VPN a ..read more
ProWriters Cyber Insurance Blog
10M ago
Ransomware and social engineering are both rising cyber threats in 2022. Statistics show a 13% spike in ransomware breaches, which is more than the previous five years combined. Furthermore, 25% of these breaches resulted from social engineering attacks, prompting organizations to reconsider their operational strategies and strengthen their cyber security measures.
However, because both cyber threats share some similarities, they are sometimes misidentified as the same. Let us see how they differ.
What Is Social Engineering?
Human error is the biggest cyber security threat. Through social eng ..read more