Or how about some security news?
Delinea’s 2023 State of Cyber Insurance report reveals a significant gap between insurance carriers and organizations in obtaining affordable and comprehensive coverage. The survey of over 300 US organizations found that the time and effort required to get cyber insurance is increasing, with 67% of respondents noting that their insurance rates increased 50-100% upon application or renewal. The report also found an increasing list of exclusions that could void cyber insurance coverage, including lack of security protocols, human error, acts of war, and not following proper compliance procedures.
A recent report by BlackBerry’s Threat Research and Intelligence Team analyzed 90 days of real-world data to reveal that their AI-powered endpoint protection solution detected and blocked just over 1.5 million malware-based cyberattacks targeting customers during that time. The report also identified the most attacked industries, which included financial institutions, healthcare services and equipment, and food and staples retailers, and found that these vertical industries accounted for 60% of the overall number of attacks.
And speaking of healthcare, per Critical Insight in a new report, the healthcare industry experienced fewer but larger cybersecurity breaches in H1 2023, with a 15% decline in reported breaches from H2 2022. However, the number of individuals affected by these breaches increased to a record 40 million, with hackers targeting third-party business associates and network servers as the most common entry points.
A new study commissioned by Seemplicity and conducted by Dark Reading reveals that it takes nearly four weeks to remediate critical security risks from start to finish, and the average organization manages three to five security tools, adding complexity and slowing down remediation. 49% of security professionals don’t know who to contact to fix risks or verify fixes.
Why do we care?
The security theme is that delivery is getting more challenging and more focused. I wish I had some particular insight today – instead, I’m updating on the ever-increasing difficulty. The practical takeaway here is that cybersecurity is not just an IT issue; it has financial ramifications that can severely impact an organization’s bottom line.