Cyber Insurance Blog

The shift toward digital operations in the business world is not just a trend but a vital evolution. However, with the many benefits of a connected, online enterprise come a slew of risks that traditional insurance packages, such as Business Owner’s Policy (BOP) Coverage Insurance, may not address. This gap has led to the increasing importance of Cyber Insurance for…

Demand for Cyber Insurance coverage is climbing. Experts in Cyber Insurance trends project the market will grow from $16.66 billion in 2023 to $84.62 billion by 2030. Whether you’re an independent broker or part of an agency, you need Cyber Insurance resources to help you stay competitive in this market. The resources we at ProWriters offer help brokers and agencies…

Ransomware attacks, data breaches, and other cyber threats pose significant risks to businesses. Cyber Liability Insurance is key to mitigating these dangers. But Cyber claim denials sometimes occur. Cyber Insurance claims statistics in 2022, for example, showed 27% of data breach claims with some exclusion written into the policy that meant Cyber Insurance was not paying out. We at ProWriters…

In March 2023, the White House proposed a new cyber security strategy in an effort by the U.S. government to strengthen its cyber defenses amid a steady increase in hacking and digital crimes targeting the country. Under the proposed strategy, all private companies would be required to participate in more stringent cyber security measures. However, it promised to support the…

(“A Man In A Helmet With Glasses Wallpaper” by Wallpapers.com is licensed under CC BY 2.0.) As Cyber Insurance brokers, your responsibility includes teaching your clients best practices for safeguarding sensitive information. But have you considered using a dose of humor to educate them about the importance of strong passwords? Look no further than Spaceballs (1987), Mel Brooks’s classic send-up…

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%…