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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network. As these incidents grow in sophistication, they exploit vulnerabilities in security systems, often outpacing the ability of organizations to respond effectively. Let's find out.

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Prudential to shut down Assurance, the insurance tech startup it acquired for $2.35B in 2019

GeekWire

GeekWire File Photo / Taylor Soper) Insurance giant Prudential is shutting down Assurance IQ , five years after spending $2.35 Assurance uses technology to match consumers with insurance plans that are purchased online or through an agent. ” Prudential reported first quarter net income of $1.1 billion, down from $1.46

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Is Cyber Liability Insurance Sufficient Coverage for All Cyber Risks?

SecureWorld News

Cyber liability and crime insurance are like a safety net for businesses, but they're not perfect. Third, cyber risks are constantly evolving, and insurance companies may not be able to keep up. New threats are emerging all the time, and it can take time for insurance companies to update their policies.

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Crypto doesn’t have an insurance policy

Vox

As crypto crashes, the state of cryptocurrency and insurance is nebulous. Although the companies that people use to buy and store crypto are in some ways similar to banks, these platforms don’t have the deposit insurance that bank or investment accounts have. Banks fund the FDIC, which, in turn, insures bank accounts up to $250,000.

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Porch completes $100M Homeowners of America acquisition, doubling down on insurance market

GeekWire

Porch says it will use the acquisition to build its national footprint in the home insurance market. Porch cut its net loss in half in 2020, to $51.6 Porch then uses that access to connect homebuyers to movers, insurance agents, home security firms, TV/internet companies and other service providers, making money on transaction fees.

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Porch Group announces two more acquisitions for a total of more than $94 million

GeekWire

million; and a deal to acquire California-based CSE Insurance for $48.6 million in cash, subject to approval by the California Department of Insurance. for a total of $35 million; and Irving, Texas-based insurance company Homeowners of America for $100 million in cash and stock. Its quarterly net loss widened to $16.3

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Porch makes $35M acquisition; reshuffles board; revenue up 200%; loss grows; PPP loan forgiven

GeekWire

Its quarterly net loss widened to $16.3 Other deals this year include the acquisition of Irving, Texas-based insurance company Homeowners of America for $100 million in cash and stock, expanding Porch’s footprint in the insurance tech market. million, exceeding analysts’ expectations. million, vs. a loss of $6.3

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