The cyber threat landscape is continually evolving, and organizations are faced with the challenge of responding with tools and processes that may not have been initially designed with these threats in mind.
Beazley has invested a significant amount of effort and resource over the years that we have been writing cyber insurance into helping our clients understand, and defend against, these evolving threats and we now see an opportunity to share these insights with the wider community.
In this and subsequent Cyber Services Snapshots, we’ll be updating key data derived from incidents reported to Beazley and enriching that with threat intelligence and open-source data to pinpoint emerging trends. Our Cyber Services team will weigh in to provide insights on key issues for a deeper dive and analysis each time. This content is intended to give our clients, as well as the community at large, confidence in their understanding of – and ability to respond to – the changing cyber threat landscape.
Quarterly data snapshot
What’s happening in the world of cyber incidents? View data about the latest trends.
Data exfiltration: what you should know
This quarter, we’re taking a deep dive into the topic of data exfiltration.
- Threat actors are finding new ways to do business, resulting in double- and even triple-extortion.
- Just as the number of threat actors involved in a single incident is increasing, so are the risk exposures.
- Keeping up with the evolving threat landscape helps organizations to proactively ensure data is protected.
- What’s coming next? No one has a crystal ball, but when we look ahead, here’s what we’re watching for.
In the event of an exfiltration or ransomware incident, never act out of fear. Negotiation buys insureds critical time to prepare by taking key steps – making sure your network is secure and backups are operational and tested, determining what data the threat actors have, and preparing communications.
Data presented in this Cyber Services Snapshot is derived from incidents reported to Beazley.
The information set forth in this document is intended as general risk management information. It is made available with the understanding that Beazley does not render legal services or advice. It should not be construed or relied upon as legal advice and is not intended as a substitute for consultation with counsel. Beazley has not examined and/ or had access to any particular circumstances, needs, contracts and/or operations of any party having access to this document. There may be specific issues under applicable law, or related to the particular circumstances of your contracts or operations, for which you may wish the assistance of counsel. Although reasonable care has been taken in preparing the information set forth in this document, Beazley accepts no responsibility for any errors it may contain or for any losses allegedly attributable to this information.