Vikrant Karvir’s Post

Check out our latest article on the growing trend of cyber risk and insurance for SMEs, featuring Coinnect, Citalid, Stoïk, kamaé & Cyrius. Written by Daria Pelini and myself. 🔒💼 #CyberInsurance #SMEs #Insurtech

Munich Re's new report highlights a stark reality: #ransomware payments doubled last year, hitting $1.1 #billion 🚨 This dramatic increase highlights the critical need for #insurers to adopt advanced risk assessment and mitigation strategies. Coinnect leads the charge in transforming #CyberRiskManagement. Our AI-driven platform, not only anticipates #ransomware threats 🔐 but also equips insurers with the tools and insights necessary to #evaluate and #mitigate their clients' cyber risks effectively. Here the full article of Risk & Insurance: https://lnkd.in/gzdhrHXe #Coinnect #CyberInsurtech

A detailed risk monitor report from OAC, as they look at the downsides, plus growth prospects when it comes to the cyber coverage sector. https://lnkd.in/eNzRCYC6

As the cyber insurance landscape continues to evolve in EMEA, companies need actionable insights and solutions to better protect against emerging cyber threats. Learn more: https://aon.io/3UPGS9f #CyberRisks #CyberInsurance #CyberSecurities #CyberThreats

Cyber security in the insurance sector: the scenario, risks and future challenges https://lnkd.in/e3wvpi5n

A joint assessment by Lloyd's and the Cambridge Centre for Risk Studies has estimated $3.5 trillion in potential losses over a five-year period due to the global vulnerability to cyber threats. The study envisions a cyber attack targeting a major financial services payments system, which could create a ripple effect of systemic risk with far-reaching consequences. The United States, China, and Japan are projected to bear the brunt of the economic fallout, with anticipated losses of $1.1 trillion, $470 billion, and $200 billion, respectively. The cyber insurance industry, valued at just over $9 billion in 2022, is projected to reach between $13-25 billion by 2025. The findings serve as a stark reminder of the pressing need for increased cybersecurity measures and preparedness on a global scale. As our reliance on digital infrastructure continues to grow, so does the need for comprehensive cyber insurance. #CyberInsurance #ProtectYourDigitalFuture #CyberThreats #GlobalEconomy #DigitalSecurity #RiskMitigation #CyberResilience #UrgentCall #CyberAttacks #DigitalFrontier #SecurityMatters #CyberProtection #LloydsReport #CyberRisk #DigitalEconomy https://lnkd.in/gGpD8Dic

Cyber Insurance growth opportunity is in the mid-market and SME space notes Marsh, where the need for SME-friendly cyber risk monitoring and controls is key. This is where Cypherleak comes into play! “In larger organisations, the level of adoption of standalone cybersecurity products is much higher than the mid-market segment. And then when you get to the SME space, essentially the percentage adoption rates drop off a cliff,” said Bateman.   “So, insurers definitely know the growth opportunity is in that mid-market and small business space, provided they can transact the business efficiently.”

Interesting discussion about a potential state backstop for systemic cyber risks. #cyberinsurance

In his latest article, Charles Perry delves into the recent "nation-state" cyber attack aimed at Microsoft, outlining the various attack methods that criminals are utilising and the wider implications for the cyber insurance market Read more here: https://ow.ly/2kUq50QH2Z8 #cybersecurity #cyberinsurance

With a surge in ransomware attacks confronting insureds, the E&S market continues to play a vital role in covering cyber risks. Read more: https://ow.ly/4iIr50PMLWX #insurance #excesslinebrokers #surpluslines