October 2023 Broker Update

Dare to keep up with the threat landscape? Our Q3 Ransomware Report is live.

We put together the scariest ☠️ short story possible (seven words, if you’re counting) that encapsulates both the spirit of Halloween 🎃 and Cybersecurity Awareness Month:

“Ransomware is up 95.1% from last year.” ❗

Not scared yet?

“Q3 2023 has the most ransomware victims ever.” ❗❗ 

And this is all based on a true story (AKA threat intel data).

Not a bad time to work with a cyber insurer that reduces the likelihood and cost of cyber breaches by 20% for engaged policyholders (and rewards engaged policyholders with 25% off their retention).

A shameless plug — now that’ll scare you! As always, send in your quote requests to submissions@corvusinsurance.com 📥

For more on what goes (digitally) bump in the night, keep reading: 

So, the threat landscape looks bleak. But that’s not enough to prevent us from offering clients the right comprehensive coverage to keep them protected. 

Yes, even clients in historically riskier sectors. We’ve rolled out industry-specific endorsements for healthcare, financial services, and manufacturing. 

Healthcare  Financial Services  Manufacturing

We want to partner with businesses in these industries (and others!) to identify, understand, and get ahead of cyber risks.

If you have clients in relevant sectors, reach out to us at submission@corvusinsurance.com 

Our Q3 Ransomware Report is live! Our Threat Intel team unveils that threat actors are overachievers — no summer vacations for them — and likely won’t take any time for R&R later this year, either.

In fact, if attacks continue at their current rate, this could be the first year with over 4,000 ransomware victims posted on leak sites.

We'll also cover:

• Which industries are being hit the hardest
• The impact of CLOP’s MOVEit exploit
• And what to think about that unusually short summer slowdown

Read the Full Report

From SVP, Risk + Response Lauren Winchester and CISO, Jason Rebholz

Yes, October is #CybersecurityAwarenessMonth.

But if you work with Corvus (and read this newsletter), we assume that you are up-to-date on threats, knowledgeable about security controls, and generally “aware.”

 That’s why ran with #AttackPreventionMonth instead. To focus on the future of attacks — and what stops them. Sometimes, it’s a little more complicated than MFA. 

 
Stay informed: Members of our Threat Intelligence, Cybersecurity, and Risk Advisory teams discussed current trends and best practices for orgs to improve their cybersecurity on Tuesday. 

🎥 Watch the Webinar

Insurance Journal (October 25): Ransomware Attacks Have Nearly Doubled Over 2022, Says Corvus

Inside P&C (October 24): Ransomware attacks up 95% over last year, 2023 to set record: Corvus report

AM Best TV (October 23): Corvus' Mirabile: As Ransomware Attacks Become Less Effective, Bad Actors Innovate

Find Corvus at These Upcoming Events:

• 11/13 - 11/14: Intelligent Insurer Underwriting Innovations (Chicago)
• 12/14 - 12/6: PLUS Conference (Las Vegas)

Want to schedule a meeting with your Territory Manager or Underwriter at one of our upcoming conferences? Send a message to events@corvusinsurance.comDare to keep up with the threat landscape? Our Q3 Ransomware Report is live.Dare to keep up with the threat landscape? Our Q3 Ransomware Report is live.

Thanks for reading! 

The Corvus Team