cybersecurity

May 8, 2024

Intellectual Property Risks Expanding with AI Usage, Cyber Threats

Intellectual property (IP) assets are one of the greatest sources of value creation in the corporate world, yet they are increasingly vulnerable to cyber risk and lack the same level of insurance protection as tangible physical assets, according to a report by Aon. Information assets—such as customer records, employee records, financial reports, analytical data, source...

May 1, 2024

2024 Saw the Highest Q1 Ransomware Activity on Record

The first quarter of 2024 was the most active Q1 ever recorded on ransomware leak sites, a new study from Corvus found, with 1,075 victims reported. Though this is down from a peak of 1,278 victims in Q3 2023, it is a 21% increase from Q1 2023. The industries that are most frequently targeted by ransomware groups has remained pretty...

April 9, 2024

3 Ways to Improve Cyber Hygiene

Cybercriminals may target insurers because the company files contain sensitive policyholder information and they believe insurance companies have deep pockets to extort. Most insurers and insured business owners understand the gravity of falling victim to a cyberattack but may not prioritize good cyber hygiene in everyday practices, which could have devastating consequences. Cyber hygiene protects the...

March 21, 2024

Regulator Urged to Promote New Code for Cyber Governance

A recent survey conducted by Airmic revealed that a substantial majority (89%) believe that entities like the Financial Reporting Council (FRC) should champion the adoption of a newly proposed voluntary cyber governance code. The insight came from Airmic’s contribution to a consultation initiated by the Department for Science, Innovation and Technology (DSIT) on its draft...

March 7, 2024

Cybersecurity Tips for Tax Season

Tax season cybercrime is becoming more common, with an increase in tax fraud issues from February to April — prime tax season. Business email compromise and phishing attempts are widespread during these months. Small businesses send and receive a significant amount of financial and confidential information to their accountants or tax preparers. This type of...

February 29, 2024

The Human Firewall: How Employees Can Find Empowerment in the Fight Against Cybercrime

You’ve been hacked. It’s a sentence that can stop any organization dead in its tracks. And the potential of a breach has cemented itself as one of the most devastating risks an organization could endure. An estimated 2,200 cyberattacks occur each day, equivalent to one attack every 39 seconds. This surge in cybercrime carries an astronomical...

January 25, 2024

Tailgating and Piggybacking

Tailgating and piggybacking are low-tech tactics used by malicious actors to enter secure areas. They occur when an unauthorized person gains physical access to a location with sensitive information or vulnerable IT equipment. These intrusions can have significant financial and reputational impacts on businesses, so it is essential for companies to take measures to prevent...