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The April 2025 cyber attacks targeting U.K. retailers Marks & Spencer and Co-op have been classified as a "single combined cyber event." That's according to an assessment from the Cyber Monitoring Centre (CMC), a U.K.-based independent, non-profit body set up by the insurance industry to categorize major cyber events
As technology advances, cyberattacks are becoming more sophisticated. With the increasing use of technology in our daily lives, cybercrime is on the rise, as evidenced by the fact that cyberattacks caused 92% of all data breaches in the first quarter of 2022. Staying current with cybersecurity trends and laws is crucial to combat these threats, which can significantly impact business development
With cyberattacks around the world escalating rapidly, insurance companies are ramping up the requirements to qualify for a cyber insurance policy. Ransomware attacks were up 80% last year, prompting underwriters to put in place a number of new provisions designed to prevent ransomware and stem the record number of claims. Among these are a mandate to enforce multi-factor authentication (MFA)