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Security

Scope Systems confirms cyber incident, says no data loss occurred Instructure breach: ShinyHunters says ‘matter has been resolved’ Rapid7 launches Cyber GRC program to connect compliance with live risk data Australian federal budget 2026: The industry perspective Op-Ed: Microsoft May Patch Tuesday reveals 137 vulnerabilities Federal Budget 2026: The state of cyber security spending for the coming year OpenAI offers EU early access to its cyber security model Exclusive: Aussie firm Earth Systems listed by INC Ransom hacking group Op-Ed: Why Middle East tensions demand immediate action on OT security Aussie schools breach: Instructure boss “reaches agreement” with ShinyHunters to not release data Institute of Public Accountants members hit by data breach Union demands answers on Qantas AI plans 1 in 3 small businesses don't think they're a cyber target, new research finds Exclusive: Aussie toy distributor listed by M3rx ransomware Exclusive: Australian Computer Society investigating possible breach after ShinyHunters hack claims The industry speaks – part 2: World Password Day 2026 Aussie schools breach: The Instructure hack “transcends an isolated IT incident” Exclusive: Aussie car part importer Strategic Imports allegedly breached by threat actors New South Wales, other states, investigating Instructure/Canvas data breach Australian Cyber Security Centre warns of ClickFix campaign leveraging Australian infrastructure Queensland Department of Education confirms students & staff impacted by ShinyHunters data breach ACMA takes action against SpinTel & Yomojo over mobile number fraud violations The Industry Speaks, Part 1: World Password Day 2026 Qualys and Converge tie cyber insurance pricing to real-time security posture Fakeout: Iranian APT caught hiding behind Chaos ransomware activity Exclusive: Australian energy management firm allegedly breached by SafePay Real estate giant Cushman & Wakefield confirms cyber incident, Qilin and ShinyHunters claim attack CrowdStrike expands Project QuiltWorks as more partners join AI security coalition Hacked: ALS discloses cyber incident, unauthorised access to IT systems Microsoft the main target of AI phishing attacks, report uncovers Attackers increasingly turning to trusted security tools to compromise Aussie victims Exclusive: Champion Homes confirms customer data compromised in “cyber event” Australia, Japan commit to partnership to meet cyber security challenges & strengthen cyber defences NSW Treasury cyber incident contained, impact no longer ‘significant’ WA rental scam surge: Tenants targeted with fake $500 discount trap Aussie Information Commissioner launches Privacy Awareness Week 2026 Unregistered branded text messages to be labelled ‘Unverified’ from 1 July Exclusive: Major Australian jewellery brand confirms cyber incident Watch this! 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CrowdStrike expands Project QuiltWorks into cyber insurance and financial risk protection
David Hollingworth · 2026-05-29 · via Security

CrowdStrike has expanded its Project QuiltWorks initiative to include major cyber insurers and brokers, positioning the framework as an end-to-end model for managing growing financial risks.

CrowdStrike expands Project QuiltWorks into cyber insurance and financial risk protection

CrowdStrike has announced the next phase of Project QuiltWorks, extending the initiative beyond technical cyber defence and remediation into cyber insurance, underwriting, and financial risk mitigation.

The expanded framework brings together cyber insurance and risk management firms – including Coalition, Liberty Mutual Insurance, Lockton, Resilience, and Marsh – into the QuiltWorks ecosystem.

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CrowdStrike said the move reflected growing concern that frontier AI systems are dramatically accelerating vulnerability discovery and shrinking the time between flaw identification and active exploitation, creating new financial exposure for enterprises and insurers alike.

Daniel Bernard, CrowdStrike’s chief business officer, said cyber risk associated with advanced AI technologies was increasingly becoming a board-level issue rather than solely a technical problem.

“Frontier AI risk doesn’t stop at technology, it lands on the balance sheet,” Bernard said.

“Project QuiltWorks is the only framework that delivers the technology to identify and prioritise, the services to remediate, and the financial protection to secure against it.”

CrowdStrike said the framework is designed to provide organisations with continuous visibility into frontier AI risk exposure while also helping insurers assess and underwrite rapidly evolving cyber threats more accurately.

The company said QuiltWorks now incorporates financial risk modelling, underwriting intelligence, exposure prioritisation, and coordinated risk mitigation workflows designed to bridge the gap between technical security operations and financial risk management.

Under the model, insurers and ecosystem partners contribute claims data and actuarial insights alongside technical threat intelligence and vulnerability telemetry to identify the exposures most likely to lead to operational disruption or financial loss.

CrowdStrike said the framework was intended to help organisations improve their security posture while also strengthening their ability to obtain and maintain cyber insurance coverage as insurers tighten underwriting requirements around AI-related cyber risk.

Tim MalcomVetter, general manager of security at Coalition, said the speed of AI-driven cyber threats was fundamentally changing how organisations needed to manage exposure.

“Frontier AI is collapsing the window between vulnerability and loss, which makes continuous visibility and proactive risk mitigation more important than ever,” MalcomVetter said.

“Project QuiltWorks extends our approach to frontier AI risk, helping organisations better understand their potential exposure through security intelligence and take action through coordinated remediation before an attack can lead to a financial loss.”

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David Hollingworth

David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.