The cost of a cyber attack increased over 170% in 2021 to average around $1.2M. Considering organizations are facing growing ransomware threats to their internal and vendor networks, it’s become critically important to measure the potential financial impact of these threats, and evaluate insurance coverage options to meet your needs.
Traditional methods of quantifying cyber risk are complex, and hard to replicate. With automated data and a process you can repeat across different risk vectors and assessment periods to track your organization’s financial risk, cybersecurity leaders can better prioritize risk mitigation towards the most costly vulnerabilities.
Why not mitigate this financial risk with cyber insurance? The majority of cyber insurance claims now involve ransomware; this single digital threat category accounts for 75% of all cyber insurance claims—up from 55% in 2016. Yet, this shift in the insurance market is changing how insurers provide coverage, hardening their risk appetite and increasing premium levels.
In this webinar, hear from experts in the field of cyber risk and financial mitigation, and learn about:
- The most effective way to measure ransomware risk in financial terms and prepare your organization for potential attacks
- The state of the cyber insurance market given the increase in ransomware attacks
- Where to focus efforts to improve your insurance coverage application, including defining your risk appetite in financial terms
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