Progress Software, facing potential losses from a MOVEit ransomware campaign, aims to fully collect its $15 million cyber insurance policy. If successful, such a sizable payout may drive up premiums and tighten coverage requirements across the industry, potentially making policy renewals more challenging. Increases in cyber insurance costs and narrower coverage have already been noted, with 80% of firms reporting at least one claim over the past year.
Ocado to cut 1,000 jobs under restructuring plan
Ocado is to cut around 1,000 jobs as part of a plan to slash costs and restructure its operations.
