AI APPLICATIONS
Ransomware attacks are on the rise and continue to be a disruptive force in the cybersecurity industry , affecting everything from financial institutions to higher education . Due to the rise in remote work prompted by the pandemic , attacks are up 148 %. ( Varonis . com )
A sizeable number of organisations that identify breaches report a specific negative outcome or impact . On average , for those that do , the costs are substantial . ( Gov . uk , March 2021 )
Howden ’ s global head of cyber , Shay Simkin , said : “ Cyber risk has undergone multiple episodes of change and development in its relatively short history , but nothing quite so impactful and fundamental as the events of the last 18 months ”.
And Cybersafe founder and CEO , Oz Alashe , said the rising costs of insurance should be an added incentive for organisations to take their cyber security seriously . “ Getting the cyber security fundamentals right is more important than ever before . Effective security awareness training , as well as
“ To date , cyber insurance has failed to live up to expectations as a tool for improving organisations ’ cybersecurity practises ” deliberate focus on security behaviours like using stronger passwords and backing up data , are simple steps they should take to protect themselves and then ensure they can access the appropriate insurance ,” he advised .
“ Many companies can ’ t afford to invest that much money , but we are trying , as
ROYAL UNITED part of London ’ s ‘ Recover
SERVICES INSTITUTE and Grow ’ scheme to help organisations to have the government certification and become eligible for the insurance . However , if you flip the coin , the argument from the government is that they say 79 % of cyber attacks in the UK
aimagazine . com 59