76% of Organizations Have Cyber Risk Insurance – But How Does That Change Across the Globe? Data breaches and cyber-attacks continue to dominate headlines, so we can be sure that try as they might, many organizations can’t protect themselves sufficiently. Should the worst happen, are companies able to use cyber risk insurance to help them recover? Our survey of 500 companies across 11 countries shows some interesting results and attitudes on the subject. More companies are investing in cyber risk insurance Last year we surveyed companies in six countries, when we compare year on year results we can see that in those countries the percentage of organizations that have cyber risk insurance has gone up from 62% to 75%. Looking at individual countries there are some standout figures. In the UK the percentage of insured companies has leapt by 29% with 90% now investing in cyber risk insurance. The UK... [Read More]
The number of UK firms with cybersecurity insurance has risen in the past year — but less than half say their cyber insurance covers all risks. The second annual cybersecurity survey from research and consultancy firm Ovum, for Silicon Valley analytics firm FICO, found that the number of UK firms reporting they have no cybersecurity insurance dropped from 31 percent in 2017 to 10 percent in 2018. While this is substantially better than the 24 percent reported across all 11 countries surveyed, only 38 percent of UK respondents said their cybersecurity insurance covers all risks. Cybersecurity Insurance – Telcos still lack coverage Telecommunications firms were the most likely to have no cybersecurity insurance — 17 percent reported this, compared to just 5 percent of financial services firms. (This shows that not much has changed in the industry since last year as per the findings in our e-book “Cybersecurity for Telecoms –Views... [Read More]
Strong customer authentication makes some kinds of fraud more difficult and criminals will be looking for the next opportunity, such as authorised push-payment fraud.
A new survey suggests that many firms don’t know how they compare against to their competitors, which could lead to an under-investment in cybersecurity protection.
In a new survey on cybersecurity conducted by research and consultancy firm Ovum for FICO, three out of four senior IT executives at UK firms said they are better prepared for data breaches than their competitors.
The global adoption of real-time payments schemes, alongside the problems suffered by early adopters, has turned the focus to real-time payments fraud.
