eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. In addition, the U.S.

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Malwarebytes

JULY 10, 2022

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.

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Security Affairs

AUGUST 21, 2020

The University of Utah admitted to have paid a $457,059 ransom in order to avoid having ransomware operators leak student information online. The university did not reveal the ransomware family involved in the attack. ” According to the University, the ransomware encrypted only 0.02% of the data stored on its servers.

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SecureWorld News

SEPTEMBER 10, 2020

2020 has been a year of great change and constant adaptation to new circumstances. Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020.

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SecureWorld News

MAY 26, 2021

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

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CyberSecurity Insiders

AUGUST 26, 2022

Lloyd’s London, one of the largest insurance services providers in the world, has disclosed that it is making amendments to its cyber insurance laws that will come into effect from March 2023. And so does Lloyd that sent a memo to the company’s 75 insurance syndicates.

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SC Magazine

MAY 24, 2021

Data from at least one insurance broker tracked a near doubling of clients who were opting in for cyber-specific insurance from 26% in 2016 to 47% in 2020. Lyle said the same rush of companies to shift some of their financial risks around cybersecurity to insurance also likely contributed to those increases.

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Adam Levin

JUNE 30, 2020

We’re not even halfway through 2020, and already it’s been a record-breaking year for ransomware attacks. No industry, category, size, or group is safe from this cyber scourge. Millions of inboxes have been hit with a variant of Avaddon ransomware. 1-99-employee companies are a target.

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SecureWorld News

NOVEMBER 30, 2020

A large provider of IT services in the EU is the latest example that cyber risk is business risk. Sopra Steria IT company hit with Ryuk Ransomware. Like too many organizations around the globe, the IT company is remediating a Ryuk Ransomware attack. Ryuk ransomware recovery could cost $60 million.

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Security Affairs

MAY 1, 2020

Maze Ransomware operators claim to have gained access to the network of Banco BCR of Costa Rica and stolen 11 million credit card credentials. Maze Ransomware operators claim to have hacked the network of the state-owned Bank of Costa Rica Banco BCR and to have stolen internal data, including 11 million credit card credentials.

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Cisco Security

JULY 11, 2022

No, Ransomware attacks are not random. From extortion to data breaches, ransomware is always evolving, and is becoming very lucrative with Ransomware-as-a-service kit making it easier to target organizations. 67 individual ransomware attacks on schools and colleges–a 19 percent decrease from 2020 (83) .

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SecureWorld News

AUGUST 18, 2020

The Carnival Corporation, which has canceled cruises for months now as a result of COVID-19, says one of its cruise brands was hit with a ransomware cyberattack. What do we know about the Carnival Cruises ransomware attack? Ransomware attacks 2020: what do cybercrminals want? Hackers exfiltrated (removed) some data.

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Security Affairs

DECEMBER 2, 2020

was hit by Ryuk ransomware in the middle of November and now has paid a ransom to avoid data leak. has paid a ransom to the ransomware operators after the gang infected its systems in November. Bleeping Computer has learned aware that K12 was hit by Ryuk ransomware and K12 paid the ransom utilizing their cyber insurance.

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SecureWorld News

AUGUST 21, 2020

Now you can add a ransomware attack to the list of disruptions the University is juggling. What are details of the University of Utah ransomware attack? We know the attack started on July 19, 2020, after hackers accessed a sliver of the University's network: ". It was determined that approximately.02%

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eSecurity Planet

OCTOBER 18, 2021

A lawsuit working its way through the courts could have a lot to say about the liabilities facing organizations that have been hit by ransomware attacks – and could have implications for cybersecurity preparation and regulation in general. Hospital’s Operations Hit by Ransomware. ” Cyber Insurance No Longer Reliable.

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Webroot

JULY 25, 2022

Following the remote work pivot we saw in 2020, IT security has had to evolve quickly to remain effective, flexible and resilient in today’s dynamic hybrid/remote work environments. Cyber insurance becomes mainstream discussion. The cyber insurance market is expected to reach around $20B by 2025.

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Duo's Security Blog

MAY 23, 2022

Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%. Do you need it? How do you qualify for it?

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The Last Watchdog

SEPTEMBER 20, 2019

However, at this moment in history, two particularly worrisome types of cyber attacks are cycling up and hitting local government entities hard: ransomware sieges and election tampering. Related: Free tools that can help protect elections I had a deep discussion about this with Todd Weller, chief strategy officer at Bandura Cyber.

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Cytelligence

JANUARY 27, 2020

Ransomware is becoming an epidemic in the cybersecurity world, with new strains being created continuously by criminals to extort money out of unsuspecting users. What is Ransomware? Ransomware is a devastating attack on an organization’s or individual’s digital assets. Damages from ransomware in 2019 rose to over $11.5

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SC Magazine

JULY 14, 2021

FBI’s cyber division personnel in front of a computer screen. New research finds that ransomware atracks have grabbed the attention of leaders across business sectors. The FBI reported an increase of more than 225% in total losses from ransomware in the U.S. in 2020 alone.

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SecureWorld News

SEPTEMBER 23, 2021

This includes the fight against ransomware. His unique insights around cybersecurity-related topics shine a light on ransomware risk for organizations, government agencies, and the public. This ranges from Secret Service agents discussing elements of cyber hygiene with those they protect to tracking down cybercrime fugitives.

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Cytelligence

JANUARY 14, 2020

While we saw the threat landscape change in 2019 with even more sophisticated attacks, we predict 2020 to be even more extreme. More targeted ransomware – 2019 saw ransomware exploits getting highly targeted against specific businesses, as well as local government. How can I protect my business in 2020? Eradication.

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SC Magazine

APRIL 23, 2021

Today’s columnist, Tom Richards of GroupSense, writes that the FBI reported a 400% increase in ransomware attacks during the height of the pandemic. And, because of this, cyber insurance companies using these scores rely on an inaccurate assessment of target-company risk. Does it truly reflect the security of the company?

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eSecurity Planet

FEBRUARY 16, 2021

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. A ransomware attack is about as bad as a cyber attack can get. Jump to: What is ransomware? How ransomware works. Preventing ransomware. Ransomware attacks and costs.

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Security Boulevard

JUNE 15, 2021

Ransomware attacks have continued to make headlines, and for good reason: on average, there is a new ransomware attack every 11 seconds, and the losses to organizations from ransomware attacks is projected to reach $20 billion over the course of 2021 following a record increase in losses of more than 225% in 2020.

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SecureWorld News

NOVEMBER 12, 2020

And now we have brand new research coming from the EU which unpacks the top cyber threats as they stand now. What are the top cyber threats right now? The European Union Agency for Cybersecurity (ENISA) just published its Threat Landscape 2020 report. Ransomware. Cyber Espionage. Trends in ransomware attacks.

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Threatpost

DECEMBER 31, 2020

Ransomware response demands a whole-of-business plan before the next attack, according to our roundtable of experts.

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Heimadal Security

MAY 11, 2021

a global insurance organization based in Paris that also provides investment management and other financial services, has disclosed on Thursday that it will halt cyber insurance policies in France that refund those affected by ransomware attacks for payment made to hackers.

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Threatpost

OCTOBER 25, 2019

Targeted ransomware, mobile malware and other attacks will surge, while companies will adopt AI, better cloud security and cyber insurance to help defend and protect against them.

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Security Affairs

FEBRUARY 8, 2024

Ransomware Attacks: In 2023, a whopping 72.7% of organizations faced ransomware. Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 Soaring Cyber Crime Costs: Cyber crime costs are expected to hit $10.5 Shockingly, 96% of these attacks come through email.

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SecureList

NOVEMBER 9, 2022

Supply-chain will become more of a sweet spot for targeted ransomware and state-sponsored espionage campaigns. Businesses will still be mostly concerned with ransomware. will lead more people to poverty, which always translates to increased criminality (cyber or otherwise), and we know ransomware to be extremely profitable.

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CyberSecurity Insiders

DECEMBER 11, 2021

NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it is partnering with leading cyber insurance companies to help businesses manage their risks online. As a result, some insurance companies have had to raise premiums to cover their costs.

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SC Magazine

FEBRUARY 8, 2021

The relationship between enterprises and insurers, like the cyber insurance market itself, is evolving. Propelled by the surge of cyber incidents and ransomware attacks, businesses and insurance providers are rethinking and redefining how they engage each other, said Trent Cooksley, chief operation officer at Cowbell Cyber. “In

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SecureWorld News

AUGUST 11, 2020

One Colorado city's response to a ransomware attack caused us to ask a serious question: how much taxpayer money is being handed over to cybercriminals in the form of ransom? Ransomware attack on Colorado city. The ransomware operators demanded $45,000 in ransom, and the city decided to pay it. Let's explore this topic further.

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SecureWorld News

JUNE 18, 2020

Maze ransomware strikes again. Maze ransomware: to pay or not to pay? The ransomware attack has not materially affected our production and shipment capabilities, and order fulfillment has continued without material interruption. We carry cybersecurity insurance, subject to applicable deductibles and policy limits.

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Thales Cloud Protection & Licensing

FEBRUARY 15, 2023

The Pain of Double Extortion Ransomware divya Thu, 02/16/2023 - 06:10 Ransomware perpetrators are adopting more sophisticated attack techniques with much success. Ransomware attacks have become much more dangerous and have evolved beyond basic security defenses and business continuity techniques like next-gen antivirus and backups.

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SecureWorld News

SEPTEMBER 14, 2021

2020 saw a record number of cyberattacks—and threats for school, university, and other educational institutes are growing each day. The school district’s cyber insurance provided free credit monitoring, but many parents were still puzzled by how to report the problem and what steps they should take next to protect their children.

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