Categories
2022 expert insights News-EN Newsroom

CYBER RISK INSURANCE: WHAT IT IS AND WHAT IT IS FOR

news

CYBER RISK INSURANCE: WHAT IT IS AND WHAT IT IS FOR

Cyber ​​risk is something that can no longer be ignored.

Cyber attacks are always lurking and, as we described in the Clusit Report, they increase both in frequency and in criticality, maximizing the impacts of cybercrime.

On the other hand, the average time it takes for a company to identify a violation is 200 days, an exorbitant duration, during which criminals are free to carry out their maneuvers undisturbed.

Malware, data and identity theft, frauds, criminal activity by insiders, human errors, damage to computer hardware and software systems (accidental or not): the list of digital dangers to which business and assets are exposed corporate are infinite.

In addition to damage to IT systems and loss of data (company and customers’ data), it is also important to consider:

  • damage due to the interruption of activities;
  • loss of customers and suppliers;
  • legal issues and any claims for compensation from third parties;
  • reputational damage.

Cyber risk is certainly complex to assess: since it cannot be totally eliminated, it is a priority to find a way to mitigate it as much as possible.

Cyber ​​risk insurance is a useful tool for this purpose.

What is a Cyber ​​Risk Policy?

The insurances that allow you to manage cyber risk are policies useful for protecting commercial activities and business from criminal operations and related threats.

As we have seen, the components to be evaluated in cyber risk are many.

It is very important that the policy you choose offers 360 ° protection.

In addition, like car insurance, it is useful for the policy to allow you to evaluate which protections are worth adding based on the specifics of the client company, such as the sector, the size, the regulatory compliance to which it is subject.

This is in order to cover various potential needs in the event of a malicious or accidental event, such as:

  • economic losses
  • civil liability
  • legal protection
  • event management costs (for professionals to hire, for hardware and software purchases, for the protection of reputation)
Who needs a Cyber ​​Risk policy?


All companies, large and small, are exposed to cyber risks.

Large companies and multinationals can have very complex networks and IT systems and therefore a large attack surface.

Or, being often well known, they may be subject to more targeted attacks.

Small companies and professionals, on the other hand, despite being equally exposed to the risks of the cyber world, do not always have the budget sufficient to manage the consequences of malicious events.

Institutions and companies that offer critical services, such as those in the health sector, must finally protect the sensitive data they deal with and, at the same time, ensure operational continuity since they cannot allow cyber attacks or incidents of various kinds. (accidental or not) impact on the activities.

It is therefore evident that Cyber ​​Risk Policies can be useful to different realities, offering targeted and flexible protection.

Why subscribe to a Cyber ​​Risk policy?


In cyber security, preventive activities, such as the verification of computer systems, hardware and software (Vulnerability Assessment, Penetration Test, Code Review, …), or Awareness courses for staff, as well as defensive solutions (anti-malware, firewall , etc ..), are now essential to reduce exposure to digital threats.

But, however effective these may be, it will always remain a component of cyber risk that is difficult to assess and manage, as it is dependent on unforeseen events and complications.

Cyber ​​risk policies can be useful in mitigating these residual risks that could damage the business.
Cyber ​​risk insurance is useful for companies of all sizes, organizations and institutions.

Certainly not being able to replace the preventive operations or the defensive solutions of cyber security, they must, if anything, be considered as complementary to be sure of implementing a truly effective cyber security strategy.

Good job!

Latest news

HACKS OF TODAY 16 to 20/05/2024

Today's HOT includes 61 victims by the notorious LockBit 3.0, ThreeAM, Qilin, RansomHub, Snatch, Cactus, Kill Security, DragonForce, Money Message, Hunters International, Cloak, RansomHouse, INC...

Read More

HACKS OF TODAY 11-12-13-14-15/05/2024

Today's HOT includes 94 victims by the notorious Hunters International, Rhysida, BianLIan, dAn0n, Qilin, Embargo, Everest, INC Ransom, Black Suit, Monti, Akira, RansomHub, Zero Tolerance...

Read More

HACKS OF TODAY 09-10/05/2024

Today's HOT includes 94 victims by the notorious Hunters International, Rhysida, BianLIan, dAn0n, Qilin, Embargo, Everest, INC Ransom, Black Suit, Monti, Akira, RansomHub, Zero Tolerance...

Read More
Categories
2021 expert insights News-EN Newsroom

WHY CLASSIFY CYBER ATTACKS IS CONVENIENT

news

Over the past 10 years we analyzed and classified thousands of successful and public domain Cyber ​​attacks (for a total of over 12,000 attacks), investigating about 20,000 sources.

A remarkable effort in terms of time and commitment.

But why is it so important to analyze successful cyber attacks?

Here are the three main reasons:

REASON # 1: THREATS ARE NOT THE SAME FOR EVERYONE

The analysis and classification activity allows us to realize that different industry sectors and targets are affected by different types of attacks.

We often hear about Cybercrime or attack techniques such as Ransomware or Phishing.

But the truth is that not all types of victims are equally subject to these threats.

Being able to understand to what extent and to which threats you are most exposed is an advantage in terms of risk mitigation.

REASON #2: THERE IS NO SOLUTION VALID FOR EVERYONE

If different threats affect Cyber ​​attacks victims in different ways, it is evident that there cannot be a single universally defend solution.

Indeed, a manufacturing company, for example, will be more exposed to different types of attacks than a bank.

Understanding this difference and having the tools to find this information helps to elaborate more effective and targeted defense strategies.

This also allows to optimize Cyber ​​Security budgets that often turn out to be underestimated or poorly spent. Spend the entire budget on a large solution (hardware or software) that maybe protects your organization for only 20% of the threats to your sector, it would be a serious mistake.

The analysis of Cyber ​​attacks therefore helps to evaluate, data in hand, how to optimize Cyber ​​Security budgets to defend your company effectively and efficiently (also in economic terms).

REASON # 3: IT IS IMPORTANT TO UNDERSTAND WHAT HAPPENS ON THE FIELD

Finally, the analysis of successful Cyber ​​attacks allows us to photograph reality and understand which types of threats were able to overcome the defensive solutions already in place.

This can be helpful in figuring out which solutions have not worked or proved insufficient.

The comparison of the data year by year also allows us to highlight the trends and consequently optimize the defensive strategies, as well as to be able to carry out Cyber ​​Security Awareness activities in a more precise way.

Optimizing your Cyber ​​Security strategy is essential.

To find out more, write to us at:  [email protected]

Latest news

HACKS OF TODAY 16 to 20/05/2024

Today's HOT includes 61 victims by the notorious LockBit 3.0, ThreeAM, Qilin, RansomHub, Snatch, Cactus, Kill Security, DragonForce, Money Message, Hunters International, Cloak, RansomHouse, INC...

Read More

HACKS OF TODAY 11-12-13-14-15/05/2024

Today's HOT includes 94 victims by the notorious Hunters International, Rhysida, BianLIan, dAn0n, Qilin, Embargo, Everest, INC Ransom, Black Suit, Monti, Akira, RansomHub, Zero Tolerance...

Read More

HACKS OF TODAY 09-10/05/2024

Today's HOT includes 94 victims by the notorious Hunters International, Rhysida, BianLIan, dAn0n, Qilin, Embargo, Everest, INC Ransom, Black Suit, Monti, Akira, RansomHub, Zero Tolerance...

Read More
Categories
2021 expert insights News-EN Newsroom

MY LIFE DEDICATED TO CYBER SECURITY

news

Professionalism, competence, experience and universal language: these are my keywords.

IT has always been one of my passions since I was a child.

I have been working for more than 15 years as a Cyber ​​Security Manager for main Italian and multinational companies.

Five years ago I moved in the UAE where I founded Hackmanac to support Threat Intelligence and Risk Management activities.

My job is to help companies to define their Cyber ​​Security strategies effectively.

There are many Italian entrepreneurs residing in the Middle East and being their point of reference is an honor.

My challenge is to help them to defend themselves by finding together an effective, efficient and TAILOR-MADE SOLUTION.

The customer needs a manageable and understandable interpretation when we talk about Cyber Threats. These now represent an extremely serious risk for Governments, public administrations, companies and people.

The variety, determination, technical skills and cunning of the attackers have reached unprecedented levels. They are more impressive in the context of the global health crisis we are experiencing.

To find out more contact us at:
[email protected]

Latest news

HACKS OF TODAY 16 to 20/05/2024

Today's HOT includes 61 victims by the notorious LockBit 3.0, ThreeAM, Qilin, RansomHub, Snatch, Cactus, Kill Security, DragonForce, Money Message, Hunters International, Cloak, RansomHouse, INC...

Read More

HACKS OF TODAY 11-12-13-14-15/05/2024

Today's HOT includes 94 victims by the notorious Hunters International, Rhysida, BianLIan, dAn0n, Qilin, Embargo, Everest, INC Ransom, Black Suit, Monti, Akira, RansomHub, Zero Tolerance...

Read More

HACKS OF TODAY 09-10/05/2024

Today's HOT includes 94 victims by the notorious Hunters International, Rhysida, BianLIan, dAn0n, Qilin, Embargo, Everest, INC Ransom, Black Suit, Monti, Akira, RansomHub, Zero Tolerance...

Read More
				
					-----BEGIN PGP PUBLIC KEY BLOCK----- xsFNBFyONI0BEAC3wJRo5qhtr1KsqVdMz7b5JqHmt7H0ZZr14oJ9TV/hD9LMfrKpnQ94dFGnpfGa BKC1wSoJN4Yfs5lg5YmN4hmHmm6PkjgQdenVgL4YDfLDodwn5DgXKuywRBqIFbbnTDvFAb03DX2A FPnc+4g2QHsfiFycz+ISg/Z+8i21gY3j5oZlrdMKVWrNczrNc/lDJqJ36RSYDn1QzAW1ZGY/pUXk imPRvLew5Idr3462sZVVhuUFMD3Uf/W1SaS3bSEQM89pSYKZfo8AFpAs659Mn7gqKru6ndxilRdF wJGQuepqR8kz+vVPLyxJj68ii2ZBIY50RQvSBgJRnNF/Htp30cuk3v8jfSGZit9XYTTGQThVbfGR ZcKWze/iF+es110+mNXA/8s7jKs95PI+z1Foc9o74Ujs8dvjEGHTaESIEzX3JtEZUCZUiPt/P8pU Jw0ewbj1XCacYxYVsR7ODlf6GEsjt868WcjiqsuuZo2rzO4og9hFU5DlBzuePklfhw8dO5CiMN2H vtSkAn4DkgHqC+JiciHc9h5Cvvfjp52oQPj1eYmU3LkOvGFmPXVIts3VfxsQT3gk+DmrQ4J//fAl tNRSbMBnGu5F/qnLLkJmKRKPKNNcpjptFznKxLZbxW5QbAeDok3ho8YQACfADKcrmaIRkoPr8/mn PxZgMSMB87W7sQARAQABzSRTb2ZpYSBTY296emFyaSA8c29maWFAaGFja21hbmFjLmNvbT7CwZQE EwEIAD4WIQTNwEbcXbH0vegGlHCd6fr0nsTifwUCXI40jQIbIwUJEswDAAULCQgHAgYVCgkICwIE FgIDAQIeAQIXgAAKCRCd6fr0nsTifwKuD/4+3MaN+9eFiltI06fFBjr1Csh0OLFw89jFnpuYl9Sm ImVqmBwrnm+APxxLK4M+FMuNm4fW08X249t09Nsf0ba6UJ0HR/7/fRTipjzRLqHSr0+ZjVUGHhon fuuFZgNzPA5RmQZZCyiwyqZJs7pLn1QI/CtlDP6MsQhadywbkO/5LlDoBoYh/2DYNA/mtEfJbvc/ cOvfk47thj5OzcXJEWFxz7h2P5C2ELwxdhNPC+uqcOQkTScnuIBJooheJPhdmqOtOwrbUUIfaryM IESrol3Jg3/MUOe7FLXhwCSQGY1iefzl4py2jTeK936GMBHifLSUCA88lpE7ALkbf3+qJ9ABra9G e9e0dirIlPvFgBkEBBXsoIReQLrhHKFBtvKdrrE9Rb7kAwon+sW+3Uf6Ie3M8nTisGy2AmlI/tQ5 V0MHU2UJUNcc59hk7ADIlXN64eeqELgsMtlR4wEHd6nwcEpoPCTWfrVSwzsPtXUGNAGbgGxISv/F ltcFJ6Qw6Zy4f+YBEyCx/7GA3kjLllkcHv4kwHpP+WQCzbjh2JdkGEp5AY7puil1AtOFcbirbHbR 83KVeqx4Vvlyh2jhIDQYB/9qpTDC1xDKpndn40gnNd5hvjK0I0Xvbhb0PLhCpJQ5tsvPiQHjhOMF Wye3ZigaX1gTZxE29MLtwBbOYdGCYG0MrM7BTQRcjjSNARAAupAKTZXLRktriUVqhkZpU8zUVwrW ik6siStg7BppSJuKVW+Ic8QIagW0I48d2jZIIXrQRvqVBixn8eeBTE8Cujum1mZyhTw2sri3gE9i 81gisF17T/uewzRyYwx8obMfSEBnwJa44td7VjtbfLMRtfneK9R40+kELhhvXZa3DBbcG86zHVPU f1YkLX4RNSyjz4vOCX3WlcIAOr6MJA8DT+F5mUCVEhnkeUbflXtxRSeTUTfOw/3MYLs+mc6hWwLq gqTMcIQhDrYEY5wUgb5Mj86NR/uvsThL6MtWCJWVbfxHxM575woyTdD9E6HGO6loHYdky/7I+XFZ twgxsGn6HJYT+Gwn9BI5/DiwT1Qb/AyADktN1jGmZGTlniS+hly7rm0EHb2CTTM5zT1fh/sCOtQb nYIUf2in2cIfcFvzeFrUbDk2HfJMp5FmY6tBEV5xyNCww/mBkW2nuZy9CvAheJEOGoO8lyonPU2u ARq345LdbS6l+VdivPmZoLNpIMRw9MSTYmzm08h7C+/6hxzpjw1/nWZ+W2k9VpLutEs7KMtsbZR4 WhVFVS1uhqxrnjoeBHznh360Ou8SR+PFO0HIrYz4W7ayfcBhqcsGrM9u1E892gjUVTbPv8UoXQ8S Zm9ra2jqbfZGbyOpMIlyMzHTak7r0IZvCedEUDCimitbw98AEQEAAcLBfAQYAQgAJhYhBM3ARtxd sfS96AaUcJ3p+vSexOJ/BQJcjjSNAhsMBQkSzAMAAAoJEJ3p+vSexOJ/C+wP/iGvKG1NldCT2gR7 oWhmvgBnsD7qjC57RX0Go7WD1lmrWP4xWpvM6Tj0V4ZsXnyB8zUR38p49PPymjwy51FAss5PYh8S bVC1/sKC5Sae3kiAoMGH29MBAwL1IkJ8PNw6uOJHhUIJgKT5RWk2f7q3+Tha19slXwD/FC1IcBJK baxyVkG3cG5AnNvvKZyFAUNZ9FiBycaNHO4o6bCcCzSsaRLL2azudJLrF8UYPfTNBQ6Cr4QLqaRb t+ZqL2nqmcadO1AtxLtq5lQjxbhJ3jSYIcQJRq0ztbIBcPrdR2B/dfVED9cU5leSmNXxrh09gJ7N tmUpVo5fBcbf6fP7h2HIFBpH+G/8UUlcbm9pQ5Jcb8FEom0JrfaIAuv1gEIJAk1mkqLNzWUs8KuL nCBBVT2+2hfEZjtjUYbCLVB4LRCsLs9CY1wS3yKca90S8m0tfKcSj3K3k8qlKodkE2raX2GW2dm9 b200ENbb41B1uZlPts4Yh/AMfLqoNv8wyw0GlUQ2DqgDqviLANYbg4/GHwTLwO2b9UMHuTVU3woS 1LRKt0iPPsd+ir+9YRAVt5LB5XTS5C5cdIW9JSXQ+0cnbr3LPZCBulOew/M72liBINKWKGoUyueF 73ckNO9S7pzTOCpjn3+gAuzN/itwgwrMLoqUqqBuxzd7cKNJHTFdTIfTm53f =KIMs -----END PGP PUBLIC KEY BLOCK-----