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Despite pleas from the feds not to pay, UnitedHealth admitted it paid threat actors to "protect patient data."
Overall cyber claims frequency increased 13% in 2023, while claims severity increased 10%, according to Coalition, Inc.
AI-based monitoring programs may prevent or mitigate the losses facing cyber insurers and policyholders in the coming years.
Cyber liability coverage is now necessary for most businesses, but it's no substitute for strong cybersecurity procedures.
Cyber criminals are already using these tools to groom and streamline so-called 'social engineering' attacks.
The FBI projects the amount of cybercrime-related losses increased by more than 20% in 2023.
As tax season approaches, cybercriminals are increasingly targeting individuals and businesses through various scams.
A recent panel of scam-fighting experts detailed the role agents and brokers play in stopping insurance fraud.
Pharmacies are still grappling with difficulties providing prescriptions Friday following a cyberattack against one of the nation's largest health-care technology companies that began on Wednesday.
Despite some challenging years, cyber insurance is the fastest growing P&C segment, the Triple-I reports.
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