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Experts with FICO say that with the assistance of AI, insurers can rapidly accelerate modernization efforts.

Cyber liability coverage is now necessary for most businesses, but it's no substitute for strong cybersecurity procedures.

Separate cyber insurance (as opposed to umbrella coverage) can be essential to recovering from a data breach.

Ransomware and extortion-based attacks account for more than 80% of claims against standalone cyber policies.

Cyber insurance carriers are demanding that their clients do more to protect themselves against attacks.

According to IBM, the average cost of a data breach in the U.S. is $9.44 million.

Public companies will shoulder the potentially costly burden of a new federal rule giving them just four days to report a cybersecurity incident.

Andrew Schwartz and Keith Raymond of Celent co-authored a new study that examines many of the issues associated with the use of generative AI in insurance.