Ransomware Tops Cyber Insurance Worries, AI Governance Lacking
Ransomware attacks remain the top worry for organizations, making up 18% of insurance claims in the past year. Arctic Wolf's 2025 Cyber Insurance Outlook, based on a survey of 400 insurance professionals, reveals growing interest in cyber insurance and proactive assistance from insurers.
The report highlights the increasing concern around AI-related issues, particularly the lack of governance in AI use. It also stresses the need for collaboration between IT, financial teams, C-suite, and board members in cyber insurance discussions, encouraging MSPs to act as strategic advisors.
Email security, network security, and data backups are the most sought-after security solutions for insurance policies. Notably, 71% of insurance brokers are now partnering with cybersecurity providers to better support their clients.
Arctic Wolf's report underscores the growing importance of cyber insurance and the need for proactive assistance from insurers. It also emphasizes the collective role of brokers, carriers, and cybersecurity organizations in protecting insured customers from modern cyber threats. As AI concerns rise, the report highlights the necessity for robust governance and cross-functional collaboration in cyber insurance conversations.
Read also:
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- MIH Consortium Chooses BlackBerry for Next-Gen EV Platform
- Aquatech purchases Koch's Direct Lithium Extraction business, merging Li-ProTM DLE technology into the PEARLTM Technology Platform.
- Ukraine's Drone Strikes Cripple Russian Rail, Impacting Military Operations and Economy
