Since hackers infiltrated retail giant Target and accessed millions of credit/debit card information, the year 2014 has been a brutal one for cyber threats. The predictions do not look any better for 2015 either.

1. As Cyberattacks Rise, 2015 Looks
Very Bleak: A Brief on Cyber-
insurance

2. 2013-2014: Christmas Season for Cyber Attacks
• In 2013, hackers pulled off what is known as one of the biggest data breaches in history.
They infiltrated Target's point-of-sale (POS) terminals and stole more than 70 million
credit/debit card numbers.
• Till date, about 20 major U.S. retailers have fallen victims to data breaches. On the whole,
there had been 679 security breaches spanning across various industries.
• About 288 cyber incidents were reported in the medical/healthcare industry, while 218 of
those were found in the business sector.
• Eighty incidents in government/military sector, 52 in the educational division, and 41 in the
banking/credit industry were reported.
• Around 43 million attacks were detected by companies in 2014, an increase by 48 percent
since 2013.
• From financial services to top retailers, on industry has been secure.

3. What are Industries Planning to do?
• Cybersecurity spending is expected to touch $71 billion in 2015, a 7.9 percent increase since
2013.
• The spending is estimated to grow 8 percent every year through 2016.
• Considering the myriad of advanced attacks between cyber criminals and security software
vendors, experts believed in a big ramp in cyber security spending.
• As cyber-warfare heats up, the spending will add to the growth prospects at next-generation
security software firms.
• Reports indicate that IT professionals are shifting their investments from conventional security
technologies, like perimeter defenses, and to sophisticated cyber protections.
• Owing to this shift, many software vendors appear well-positioned heading into 2015.

4. Booting the Funds for Cyber Start-ups
• The rapid rise in security incidents has spurred venture capitalist firms, in particular corporate
venture arms, to spend money into cybersecurity start-ups.
• One of the biggest issues is that it is difficult to safeguard a company absolutely. That is why
there is a venture capital money flood into start-ups.
• Investors see a good opportunity for innovation to solve tough security problems existing out
here today.
• Funding for cybersecurity firms including corporate participation is 29 percent higher than in
2013 and 129 percent more than in 2012.
• Tech titan Google and world's largest semiconductor chip maker Intel are two major
corporates investing in this space.
• Even with so much money being invested in these start-ups, the influx of young firms indicate a
fierce competition.
• The flood of new entrants trying to get a foothold indicate that venture capital companies
evaluate thousands of ideas. Some stick to them, while some do not.

5. Boom in Cyber Insurance
• The insurance sector is also involving on one side to meet the growing demands caused by the rise in
cyberthreats.
• Companies are increasingly offering cyber-insurance to give coverage for expenses associated with a
data breach or cyber attack.
• Some of the costs include forensic and legal expenses, civil fines, and losses to a firm by an attack.
• There is additional coverage to cover cyber-extortion expenses.
• There is no government or business that is completely immune to cyber attacks. That is why we see
massive amounts of money being spent on cybersecurity in 2014.
• According to statistics from Marsh & McLennan, a U.S.-based insurance broker, cyber-insurance sales
grew 21 percent from 2012 to 2013.
• In the first half of 2014, the percent doubled.
• Thirty percent of financial institutions have bought cyber-liability insurance, while retail sector follows
with 18 percent.
• Education industry (14 percent), professional services (13 percent), healthcare and technology (10
percent), and all other industries (38 percent).

6. More Info
https://blog.whichssl.com/2013/02/comodo-ice-dragon-putting-the-freeze-on-cyber-attacks/

7. More Info
https://blog.whichssl.com/2013/02/comodo-ice-dragon-putting-the-freeze-on-cyber-attacks/