The Professional Services sector includes a broad array of organizations. Although there are no strict criteria for considering a company to be in this sector, there is general agreement that inclusion requires specialized training and experience, and, in many cases, qualification by exam and licensing managed by either national or state authorities. Using our 5-year dataset, we have analyzed 1,500 Professional Services claims dated 2017 through 2021. Professional Services sector incidents account for 20% of all claims in the dataset.

This report focuses primarily on hundreds of digital forensics and incident response (DFIR) engagements conducted by the Arctic Wolf Incident Response team. The vast majority of these engagements were initiated as part of cyber insurance policies, through our partnerships with insurance providers and privacy law practitioners.

This report aims, simply, to help you build a proactive defense that anticipates and thwarts tomorrow’s threats. So, for the second year running we rallied the community for the largest predictions survey the cybersecurity awareness community has seen. We’ve harnessed their expertise, experience, and frontline intel.

Over the course of the year, insurers responded to these and other dynamics of the risk and insurance environment by implementing their own resiliency measures, some of which impacted insurance market conditions. They undertook various measures, including refocusing their appetite, adjusting their underwriting policies, shifting their pricing models, streamlining their organizations, and aligning with business partners who share their values.

The 2024 Global Cybersecurity Outlook (GCO) finds that organizations that maintain minimum viable cyber resilience – that is, a healthy middle grouping of organizations – are disappearing. Organizations reporting such a minimum viable cyber resilience are down 31% since 2022.

The Hiscox Cyber Readiness Report 2021 reveals that US firms are a global leader in cyber readiness, with more classified as ’cyber experts,’ (25%) compared to other countries. But there is still work to be done when it when it comes to dealing with ransomware and phishing emails, as US businesses are the most likely to pay a ransom. In this year’s report, we saw a disparity when it came to the level of cyber expertise US businesses have versus the actions they take when an attack actually occurs.

The Hiscox Cyber Readiness Report 2022 reveals that both the frequency and cost of cyber attacks are rising for US businesses, and the pandemic is continuing to have lasting effects on the cyber security landscape. While the US remains a global leader in cyber maturity, they are also most likely to pay a cyber-related ransom. To gauge businesses’ preparedness to combat cyber incidents and breaches, Hiscox surveyed over 5,000 professionals responsible for their company’s cyber security from the US, UK, Belgium, France, Germany, the Netherlands, Spain and Ireland. This includes key findings from over 900 professionals from the US.

The Hiscox Cyber Readiness Report 2023 reveals that small business owners are getting smarter, but so are cyber criminals. Although 63% of small businesses in the US are cyber intermediates and 4% are cyber experts, almost half (41%) experienced at least one cyber-attack during the past year. The report surveyed over 5,000 professionals responsible for their company’s cyber security strategy from the US, UK, France, Germany, Spain, Belgium, Republic of Ireland, and The Netherlands, including more than 500 US small business professionals.

The report explores a notable shift towards instability within the threat landscape and an increase in unnamed ransomware variants, potentially due to affiliates shifting between names to find the highest profits while reducing exposure to law enforcement. It also explores trends in ransom demands and payments across various industries. Finally, we discuss what may be coming in Q4 as the ransomware ecosystem continues to shift.

This report is based on the summary statistical analysis of over 9,000 cyber claims for incidents that occurred during the five-year period 2018–2022. By comparison, the third Cyber Claims Study, published in 2013, analyzed fewer than 150 cyber insurance claims.

Splunk sits at the heart of Security Operations for many of the world’s largest and most complex organizations. We spend our days helping CISOs and their teams get ahead of emerging threats, respond quickly when incidents inevitably occur, and succeed as business enablers. In The CISO Report, we share the results of our original research and offer insights on how leaders can evolve along with the cybersecurity landscape.

Application Programming Interfaces (APIs) have emerged as useful tools that streamline business operations and enhance the digital experience for customers. As their use has proliferated, however, the importance of properly securing APIs is also becoming increasingly evident. API-related hacks and data breaches have impacted companies across nearly all sectors and geographies, resulting in skyrocketing remediation and legal costs for companies.

Coalition’s 2023 Cyber Claims Report: Mid-year Update features data from organizations across the United States. Cyber risk is global in nature, and we believe the trends and risk mitigation strategies within this report are applicable regardless of location. We’re proud to share these insights to help our policyholders, broker partners, and others in the cyber insurance industry stay informed about the ever changing threat landscape.

The FutureSec State of Security Report 2023 is a comprehensive analysis of the current state of cybersecurity, highlighting the challenges and trends in the industry. The report reveals the increasing sophistication of cybercriminals and the emerging threat of cyber-warfare and cyberterrorism. With a significant shortage of skilled cybersecurity professionals, organizations are struggling to keep up with the rising threats and costs of data breaches. The report further discusses the concept of zero trust and how Softchoice can work with organizations from consultation to implementation to optimization. Download the report now to learn about the latest developments in cybersecurity and how to protect your organization.

This year, ClubCISO celebrates the release of its 10th Annual Security Maturity Report, conducted from an anonymous survey of 182 senior executives with responsibility for their organizations’ information security. The report outlines clear trends across the EMEA information security landscape, enabling businesses to benchmark their security investments against peer organizations. The report sheds some light on the current opportunities and challenges of today’s information security leaders.

The research revealed that the rate of ransomware attacks has remained level, with 66% of respondents reporting that their organization was hit by ransomware in the previous year, the same as in our 2022 survey. With adversaries now able to consistently execute attacks at scale, ransomware is arguably the biggest cyber risk facing organizations today.

The goal of this paper is to help decision-makers and entities who can protect systems from ransomware at scale, such as the security industry, governments, and policymakers, to form defensive strategies on how best to make an impact on the ransomware ecosystem. While this paper does not focus on hands-on technical defenses that an enterprise would look to for deployment, it does aim to provide decision-makers with methods for understanding the level of risk that an organization faces from this threat.

Our international survey explored the experience of ransomware attacks on organizations over the last 12 months. The findings show that almost three-quarters (73%) of respondents report being hit with at least one successful ransomware attack in 2022 — and 38% say they were hit twice or more.

In this year’s survey, more than 80% of respondents say they are “very” or “extremely” concerned about the threat of ransomware, yet a similar number (78%) of organizations surveyed also believe they are “very” or “extremely” prepared to thwart a breach. Despite those concerns and feelings of preparedness, half of the organizations surveyed still fell victim to ransomware last year.

The following report provides a detailed look into the incidents that led to claims from our policyholders over the second half of 2021. In addition to the data, we share a thoughtful analysis of the current trends and predictions for 2022.

This report explores the critical distinctions between natural and cyber catastrophes, why cyber requires an entirely different approach, and how Active Insurance can mitigate cyber risk. We also provide an in-depth look at how we construct our model and explain why Coalition remains confident that cyber risk is insurable and that cyber insurance can play an essential role in the modern economy.