10 Cyber Insurance Terms You Need To Know in 2024
“Cyber language” is the first challenge many insurance professionals face, so we’ve created a 2024 glossary to give our Community Members a leg up this year!
Navigating the “cyber language” can be challenging for many insurance professionals. However, mastering essential cyber insurance terminology, phrases, and acronyms is crucial for establishing professional credibility. We recently hosted a panel discussion on the current and future state of the cyber insurance market. Throughout the session, our panelists delved into technical terminology associated with upcoming trends. To help you navigate what the “cool kids are saying” here is our 2024 cyber insurance terms glossary.
Top 10 Cyber Insurance Terms This Year
BEC (Business Email Compromise)
BEC is a form of cybercrime where scammers use emails to deceive individuals into sending money or sharing confidential company information. The scammer typically pretends to be a trusted authority figure, requesting payment for a fake invoice or sensitive data for future scams. BEC falls under the umbrella of phishing, which involves sending deceptive emails or messages impersonating legitimate companies to trick recipients into disclosing personal information like passwords and credit card details.
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