Fintech PR
Cowbell extends cyber insurance coverage to UK mid-market businesses of up to £1bn turnover
Leading cyber insurance provider’s exclusive patented risk rating factors boost cybersecurity standards
LONDON, Jan. 8, 2024 /PRNewswire/ — Leading cyber insurance provider Cowbell announced its cyber insurance solutions are extending their reach beyond small and medium-sized enterprises (SMEs), now catering for mid-market businesses with an annual turnover of up to £1 billion.
Backed by A+ rated (re)insurers, US-based Cowbell officially entered the UK market in mid-2023 with the launch of its standalone AI-powered cyber insurance programme, Cowbell Prime One.
Extending the availability of its market-leading cyber insurance policy to an even greater swathe of UK PLCs means that 99% of all UK-based businesses can now benefit from Cowbell’s data-driven technology and protection from cyber attacks.
Offering real-time underwriting, the intelligent and easy-to-use Cowbell platform allows brokers to customise robust cyber policies for unique risk exposures, covering diverse cyber incidents, including email scams, ransomware, and social engineering.
Simon Hughes, VP and General Manager for Cowbell UK, comments on the thinking behind the move: “Our decision to expand cybersecurity coverage to companies with an annual turnover of up to £1 billion stems from the demand for advanced cybersecurity solutions we’ve observed in the mid-market segment, where the traditional InsurTech offerings often fall short. As cyber attacks increase year-after-year, both in the UK and globally, business owners are often left guessing how to better protect their businesses against these pressing threats.
“By leveraging our proven track record, vast risk pool and innovative technology we’ll be able to safeguard not only SMEs, but also empower businesses with greater complexities, larger operations and serve a broader clientele. Through this expansion, Cowbell aims to educate and provide the best coverage options available to these business owners, closing the insurability gap. This in turn offers better outcomes for the economy and contributes to the resilience of the UK’s business landscape, ensuring that the UK’s SME and mid-market level organisations – which combined account for more than 99% of all UK private sector businesses – are equipped with the best cybersecurity tools.”
As well as leveraging its extensive and continuously monitored risk pool – comprising 35 million SMEs in the US, and 4.5 million SMEs and mid-market businesses in the UK – the company’s extensive data and insightful educational tools are shared with brokers in both regions, empowering them to engage in more informed discussions with their clients, and facilitate better understanding and assessment of cyber risk scenarios.
Cowbell’s commitment to enhancing businesses’ overall cybersecurity posture is further highlighted by its patented risk rating factors, Cowbell Factors; an offering not available by any other cyber insurance provider. By analysing and leveraging emerging real-time threats through its risk pool, Cowbell Factors is designed to develop insights for businesses that provides them the ability to benchmark their IT risk against industry peers. Cowbell Factors caters to the sophistication of mid-market buyers and is expected to resonate well with Chief Risk Officers and businesses seeking to elevate their cybersecurity practices.
The coverage expansion comes off the back of significant growth the company has experienced since its UK launch in August, which included the addition of key team members – UK Sales Director and cyber specialist Catherine Aleppo, UK Underwriting Director Claud Bilbao and VP, General Manager, Simon Hughes.
Claud Bilbao, UK Underwriting Director at Cowbell – who brings a wealth of underwriting experience to the table, particularly in dealing with multi-billion-pound businesses – elaborates on the firm’s UK success: “Cowbell’s journey into the UK market has been nothing short of remarkable, engaging with hundreds of brokers across the country in a remarkably short period. As the London market base for Cowbell, I’m privileged to work closely with many of these brokers and am looking forward to bringing that experience and value in navigating the complexities of the industry to larger enterprises.”
Notes to Editor
About Cowbell (UK)
Cowbell is a pioneer of Adaptive Cyber Insurance, a leader in providing businesses – from small and medium-sized enterprises (SMEs) to companies with up to £1 billion annual turnover – with coverage adaptable to today’s and tomorrow’s threats and the advanced warning of cyber risk exposures. In its unique AI-based approach in risk selection and pricing, Cowbell’s continuous underwriting platform, powered by its patented risk rating factors, Cowbell Factors – an offering not available with any other cyber insurance provider – compresses the insurance process from submission to issue in less than 5 minutes, and gives businesses with the ability to benchmark their IT security against industry peers.
Cowbell is backed by 20 prominent leading global (re)insurance partners and serves SMEs and mid-market companies in 50 U.S. states, the District of Columbia and the United Kingdom. Founded in 2019, Cowbell is based in the San Francisco Bay Area with employees across the U.S., Canada, India, and the U.K. For more information, please visit https://cowbell.insure/uk/.
Media contact:
Katie Lewis
Luminous PR
+44 (0) 7976 449940
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/cowbell-extends-cyber-insurance-coverage-to-uk-mid-market-businesses-of-up-to-1bn-turnover-302028783.html
Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
Photo: https://mma.prnewswire.com/media/2586123/Tickmill.jpg
Logo: https://mma.prnewswire.com/media/2586129/Tickmill_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/according-to-tickmill-survey-3-in-10-britons-in-economic-difficulty-purchasing-power-down-41-since-2004-302337354.html
-
Fintech5 days agoFintech Pulse: Your Daily Industry Brief (Synapse, Shenzhen Institute, Visa, AutomatIQ, MeridianLink)
-
Fintech4 days agoFintech Pulse: Your Daily Industry Brief (Revolut, Bestow, Advyzon, Tyme Group, Nubank)
-
Fintech2 days agoFintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)
-
Fintech5 days agoAsian Financial Forum returns as region’s first major international financial assembly in 2025
-
Fintech6 days agoNASDAQ-Listed LYTUS Appoints Visionary Leader Sai Guna Ranjan Puranam as COO (Lytus Healthcare) and Group CTO (Lytus Technologies) to Revolutionize Healthcare and Technology
-
Fintech6 days agoDhaka Court Dismisses Allegations Against Nagad Founder Tanvir A Mishuk
-
Fintech PR4 days agoGan & Lee Pharmaceuticals Announces U.S. FDA Clearance of the IND application for the innovative Bi-weekly GLP-1RA GZR18 Injection, Bofanglutide, with chronic weight management Indication (A Phase 2 head-to-head with Tirzepatide clinical trial)
-
Fintech PR2 days agoAccording to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004