Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Comments
Average Breach Falls Below Cyber Insurance Policy Deductible, Study Shows
Newest First  |  Oldest First  |  Threaded View
DaveS6929
50%
50%
DaveS6929,
User Rank: Apprentice
3/22/2016 | 10:18:47 AM
Re: Will cyber insurance premiums ever decrease?
If premiums under $600 are what you're looking for, all you need to do is look a bit harder.  Excellent coveragee suites from substantial Insurance Carriers with deductibles as low as $1,000 are readily available for SME.

For SME, ANY breach could be catastrophic.  They need a Cyber SWAT Team that they can call and have everything handled.  That is one of the best features of the insurance policies currently available and affordable.

We certainly buy insurance to protect against serious & catastrophic circumstances.  For SME, a 100-500 PII Breach is just that.  60% of them go out of business within 6 months of a cyber crime.  The insurance industry has indeed responded to the needs of SME to transfer this risk effectively and inexpensively.

 

 
DaveS6929
50%
50%
DaveS6929,
User Rank: Apprentice
3/22/2016 | 10:06:49 AM
Security Pros Missing The Mark
According to the Survey cited, the lack of insurance coverage for the average breach is solely attributable to the size of deductibles in the respondant's insurance policy.  Establishinging an average deductible of $10,000 indicates that the overwhelming number of respondants are not Small-MidSized Enterprises. 

The current Marketplace for Cyber Insurance is repleat with deductibles as low as $1,000 for the SME segment, the very firms who would be crippled or bankrupted by a 100-500 PII breach.

Is cybersecurity the panacea for these firms (or any for that matter)?  Obviously not, as the headlines would illustrate.  No, Breach Response is the critical factor and SME needs assistance and guidance the most.

To imply that Cyber Insurance isn't worth buying is fundamentally irresponsible.
KeithB787
50%
50%
KeithB787,
User Rank: Apprentice
3/11/2016 | 5:39:04 PM
Will cyber insurance premiums ever decrease?
This is definitely a case of where size matters. As the article mentions, it's very similar to car insurance. While you have insurance to cover a serious accident or catastrophic damage, you still have to pay your deductible for the accident. And so businesses will need to cover a portion off every security breach. A more interesting aspect might be that the article noted that cyber insurance coverage is increasing in the market. This will bring more competition and hopefully lower premiums for businesses. Unfortunately, with the huge amount of breaches that continue to happen annually, it remains to be seen if premiums can be reduced.


Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
6 Emerging Cyber Threats That Enterprises Face in 2020
This Tech Digest gives an in-depth look at six emerging cyber threats that enterprises could face in 2020. Download your copy today!
Flash Poll
State of Cybersecurity Incident Response
State of Cybersecurity Incident Response
Data breaches and regulations have forced organizations to pay closer attention to the security incident response function. However, security leaders may be overestimating their ability to detect and respond to security incidents. Read this report to find out more.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-10864
PUBLISHED: 2020-04-01
An issue was discovered in Avast Antivirus before 20. The aswTask RPC endpoint for the TaskEx library in the Avast Service (AvastSvc.exe) allows attackers to trigger a reboot via RPC from a Low Integrity process.
CVE-2020-10860
PUBLISHED: 2020-04-01
An issue was discovered in Avast Antivirus before 20. An Arbitrary Memory Address Overwrite vulnerability in the aswAvLog Log Library results in Denial of Service of the Avast Service (AvastSvc.exe).
CVE-2020-10861
PUBLISHED: 2020-04-01
An issue was discovered in Avast Antivirus before 20. The aswTask RPC endpoint for the TaskEx library in the Avast Service (AvastSvc.exe) allows attackers to achieve Arbitrary File Deletion from Avast Program Path via RPC, when Self Defense is Enabled.
CVE-2020-10862
PUBLISHED: 2020-04-01
An issue was discovered in Avast Antivirus before 20. The aswTask RPC endpoint for the TaskEx library in the Avast Service (AvastSvc.exe) allows attackers to achieve Local Privilege Escalation (LPE) via RPC.
CVE-2020-10863
PUBLISHED: 2020-04-01
An issue was discovered in Avast Antivirus before 20. The aswTask RPC endpoint for the TaskEx library in the Avast Service (AvastSvc.exe) allows attackers to trigger a shutdown via RPC from a Low Integrity process via TempShutDownMachine.