New report shows organizations that implement microsegmentation reduce ransomware containment times and improve cyber insurance terms , /PRNewswire/ -- Akamai Technologies (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, today released a new report, The Segmentation Impact Study: Why microsegmentation now defines enterprise cybersecurity, risk, and resilience. The report, which surveyed 1,200 security and technology leaders worldwide, found that micro ...

Group 1 - The Hartford has launched its comprehensive cyber product, CyberChoice First Response, available nationwide for small businesses, excluding Alaska, Louisiana, and Vermont [1] - The product can be quoted and bound quickly through ICON, the company's quoting and binding system, allowing agents and brokers to provide tailored cyber coverage alongside other coverages [1] - The Hartford's Spectrum Business Owners Policy (BOP) is also mentioned in relation to the new cyber product [1]

Core Insights - Lockton Re has appointed Ed Le Flufy as the global head of cyber, based in London, to enhance its cyber capabilities and support clients globally [1][4] - The appointment is part of Lockton Re's strategy to develop a multi-disciplinary global cyber team that integrates innovative risk transfer solutions and advanced cyber analytics [2] - The cyber insurance market is experiencing significant growth, and Lockton Re anticipates this trend to continue, making cyber an increasingly important business segment [3] Company Developments - Ed Le Flufy will lead the cyber team and focus on delivering seamless services to clients worldwide, regardless of their location [2] - Lockton Re has recently made additional leadership appointments, including Peter Rapciewicz as US Casualty leader and Jessica Cullen as head of Excess Casualty and Operations [4][5] - Rapciewicz brings over 20 years of experience and will oversee the expansion of Lockton's casualty business in the US [5]

Core Insights - Data443 Risk Mitigation, Inc. has signed a strategic licensing agreement with Trium Cyber to deploy its TacitRed™ threat intelligence platform across Trium's global portfolio of insured businesses [1][2] - The partnership positions Data443 to leverage the growing cyber insurance market, projected to exceed $50 billion globally by 2030 [2] - Data443's competitive advantage lies in its proprietary threat intelligence infrastructure, which monitors internet traffic across over 13 million companies [3] Company Overview - Data443 provides software and services for secure data management across various platforms, with over 10,000 customers in more than 100 countries [11] - The company has recently acquired TacitRed™, which has identified over 1 billion threat findings, and Cyren Threat Intelligence Services [5][10] - Data443 aims to offer a comprehensive cybersecurity platform that serves both enterprise clients and the insurance industry [4] Industry Context - The cyber insurance market is rapidly expanding, with significant losses reported annually due to preventable cyber events [5] - Trium Cyber, launched in 2023, focuses on providing risk transfer solutions and will utilize Data443's TacitRed™ to enhance its risk management capabilities [4][6] - The integration of Data443's threat intelligence with Trium's services aims to improve client protection and portfolio performance [5]

Market Risk & Insurance Adjustments - Insurers are actively assessing and adjusting terms and conditions to account for existing and potential risks in regions like the Red Sea and the Strait of Hormuz [1][2][3] - The number of Western ships transiting the Red Sea has noticeably decreased, reflecting heightened risk awareness [2] - Marine insurance rates in the region have already increased significantly, with shippers paying 60% more than a month ago [5] - Aviation insurance is also likely to rise, with potential exclusion of certain Middle East and North Africa zones from reinsurance coverage, possibly leading to flight cancellations [5] Coverage & Potential Losses - Insurers offer solutions like war risk or political risk coverage, including contingent business interruption insurance for financial losses due to geopolitical disruptions [3] - Major players like Lloyd's of London syndicates, CHUB, AIG, Alons, AXA, Swiss Re, Munich Re, and Everest Group have exposure to these risks [4] - Cyber insurance policies often exclude state-sponsored attacks, potentially leading to costly litigation if insurers deny claims [6] Supply Chain & Trade Flow Impacts - Disruptions to cargo transportation routes, airspace, and canal access significantly affect global supply chains and trade flows, creating both challenges and potential opportunities for insurance [6][7] - The cost for an oil tanker has surged to approximately $100,000 per day, a significant increase from $24,000 just 12 days prior, with expectations it could rise further to $150,000 [7] Behavioral Changes - Some shippers are proactively changing routes to avoid higher premiums, and similar behavioral changes are anticipated in aviation [8]

Core Insights - CISO Global has announced a strategic partnership with Cyber Assurance Group to launch CyberSimple, a solution aimed at providing cybersecurity and financial protection specifically for small and medium-sized businesses (SMBs) [1][4] - The CyberSimple offering combines advanced cybersecurity measures with accessible cyber insurance, addressing the gap in protection for SMBs that often lack adequate resources [2][4] Company Overview - CISO Global is a leader in AI-powered cybersecurity software and compliance services, headquartered in Scottsdale, Arizona [5] - The company’s CHECKLIGHT® platform offers 24/7 protection against advanced cyber threats, including zero-day attacks, and is designed to be affordable for SMBs [3][5] Market Context - The global cyber insurance market is projected to exceed $50 billion by 2030, with a compound annual growth rate (CAGR) of 25%, driven by increasing cyber threats and regulatory pressures [4] - There is a growing demand for integrated solutions like CyberSimple, which provide both cybersecurity and financial coverage for SMBs [4] Product Details - CyberSimple includes CHECKLIGHT®, which is an AI-powered endpoint detection and response (EDR) platform that offers continuous protection [3] - The solution is tailored to meet the specific needs of SMBs, making it simple and affordable [3]