- ‹ previous
- 8 of 8
Call this one more of an industry trend than a threat trend. Mounting threat activity is resulting in more and more claims against cyber insurance policies, which is in turn making such policies harder to get and more expensive to boot. Indeed, cyber insurance prices in the U.S. rose 110% year over year in the first quarter of 2022, according to insurance broker and risk advisor Marsh.
“The cyber insurance market has really tightened up because the insurers are getting walloped by claims,” notes Trend Micro’s Skinner.
All of which has insurers and insurance brokers reaching out to technology vendors for help. Just last week, in fact, both cloud management software maker Augmentt and managed services/security vendor ConnectWise announced insurance-related partnerships. Earlier this year, IGI CyberLabs (maker of the Nodeware vulnerability management system) and Trend Micro did the same.
“Insurance has been on a bumpy path with respect to trying to assess the claims risk of their cyber insurance customers,” notes Skinner. “Unlike health insurance or life insurance, where the insurers have a pretty good mathematical model for predicting your health and my health, the cyber insurance business has realized in the last few years with a rapid acceleration that they didn’t have a good risk assessment model.”
Companies like Trend Micro can assist in closing that gap by providing expertise and telemetry from end user environments, he continues. “They have teams of data scientists who are all trying to figure out the magic formula to assess risk, and we think we’re in a good position to help them.”
More Galleries like This
See what products security systems integrators can offer end-users in this slideshow.
Cisco, Microsoft, Avnet, Trend Micro, Untangle, and ESET were among many vendors making security news today at the 2018 RSA show in San Francisco
Speaking during an online meeting of its Varnex partner community, the distributor discussed booming SMB market conditions, the ongoing transformation of Varnex into a solution sales engine, and (of course) its pending merger with Tech Data.
Check out the latest products from Axis Communications, Altronix, and more.
AlienVault, Barracuda Networks, LogRhythm, SolarWinds, Sophos, Spiceworks, and WatchGuard preview what 2019 has coming for security. Warning: It’s not pretty.