April in Review: New Cyber Regulations, the Hacking of GPT, Cyber Rate Hikes, and More...

It's been yet another crazy month. Between attending RSAC in San Francisco and studying the 2nd edition of "How to Measure Anything in Cybersecurity Risk," it won't surprise us if you haven't had the time to catch up on the latest developments in Cybersecurity, Insurance, and Risk Management. Luckily, you have us. From expert advice on cyber risk quantification to recent threat intel and updates in cyber insurance, we've collected the top stories you need to stay ahead of the curve. Are you ready to dive in? ??

?? Learn from the Experts - Insights for Cyber Resilience:

• The Rise of the Cyber Risk Advisory . This article is for brokers prepared to thrive in any market and eager to build more resilient client relationships. Our North American Head of Distribution and Strategy, Michael Sayers, shares practical advice on becoming a well-rounded Cyber Risk Advisor.
• How Cyber Resilience Tolerates Losses - Within Limits. Cyber risk is inevitable, and being 100% secure is a myth, so what should we strive for? How about being a "resilient" business that can continue delivering value in the face of a breach? This article will help you get there, starting with quantifying your organization's risk tolerance.
• Five Key Takeaways from the FBI's 2022 IC3 Report . How do you ensure your company's security measures keep up with its business growth? You'll want to start by staying on top of critical cyber trends, which is why we've pulled together the top 5 takeaways from the IC3 report - a public resource reporting on cyberattacks and incidents - to help you stay #CyberResilient .

?? Threat Intel - Stay Informed on The Latest Cyber Threats

Ongoing malware campaigns to inform defenses and threat hunts:

• Midnight Group imitates ransomware groups to target US companies with fake extortion threats (source )
• CISA warns of Zimbra flaw exploited in attacks against NATO countries (source )
• Proxyjacking attacks leverage Log4Shell flaw (source )

Recent leaks and data incidents

• Arizona Clinical Trials and Arizona Liver Health disclose data breach ?(Source )
• Immigration departments in the US targeted by hackers (Source )
• D0nut ransomware group leaks files allegedly stolen from UnitedLex (Source )

?? ICYMI - What's New in?Cybersecurity?and?Insurance:

Highlights in Cyber Insurance:

• Insurers Wary of Longer-Term Costs of Cyberattacks . Claims from a single incident can stretch on for years in class-action lawsuits and investigations. Insurers are still coming to grips with how far-reaching the damage can be.
• What Is Personal Cyber Insurance—and Should You Buy It? Before you do, make sure you know the answers to these common questions.
• Cat bond structures build cyber capacity . The market for insurance-linked securities supporting cyber exposures reached a critical mass in the first quarter, and market participants are optimistic that more deals will be announced this year.
• Cyber rate hikes top 15%; commercial property up nearly 10% Commercial insurance rates rose in nearly all lines in the first quarter of 2023, with cyber liability and commercial property seeing the biggest increases, according to data from insurance exchange MarketScout Corp.

Highlights in Cybersecurity:

• Gartner Unveils Top Eight Cybersecurity Predictions for 2023-2024 . According to the top cybersecurity predictions revealed by Gartner today, fifty percent of CISOs will adopt a human-centric design to reduce cybersecurity operational friction.
• The Surprising Thing A.I. Engineers Will Tell You if You Let Them. This is too important to leave to Microsoft, Google, and Facebook.
• The Hacking of ChatGPT Is Just Getting Started . Security researchers are jailbreaking large language models to get around safety rules. Things could get much worse.
• Almost Half of Former Employees Say Their Passwords Still Work . It's not hacking if organizations fail to terminate password access after employees leave.
• One big thing: Company boards are bracing for new cyber regulations . Global experts tell Axios that growing cooperation between corporate boards and chief information security officers has strengthened cyber defense as looming regulations could demand greater accountability.