SecureWorld News

SEPTEMBER 10, 2020

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. 4 key takeaways from cyber insurance industry report. Cyber insurance works.

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Cyber Insurance Insurance Ransomware Cyber Attacks 73

Malwarebytes

FEBRUARY 21, 2023

Ransomware authors are wading into the cybersecurity insurance debate in a somewhat peculiar way. Specifically: urging victims to disclose details of their insurance contract , in order to tailor a ransom which will be beneficial to the company under attack. Create offsite, offline backups.

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SecureWorld News

APRIL 23, 2025

We asked experts at cybersecurity vendors for their comments and additional insights. Unlike traditional AI models, AI agents mimic human decision-making processes and can adapt to new challenges, making them ideal for cybersecurity applications. If those controls are not effective, cyber insurance underwriters might have to pay out.

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Ransomware CISO Backups Risk 102

eSecurity Planet

JULY 12, 2022

As we didn’t have a comprehensive cybersecurity plan in place, the attack brought the entire business to its knees.”. Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Most had been infected.

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Duo's Security Blog

MAY 23, 2022

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%. No doubt, cyber insurance is a hot topic right now. It's no longer a question of should you buy cyber insurance and what does it cover?

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Webroot

AUGUST 10, 2021

Another issue with the cyber insurance industry stems from the fact that paying a ransom is no guarantee that data will be returned. Before ransomware went rampant, the article notes, cybersecurity insurance was a profitable sub-category of the insurance business as a whole. But those days may be numbered.

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SecureWorld News

JANUARY 21, 2024

Battling cybersecurity threats can often feel like an uphill struggle. Nonprofits often juggle tight budgets and unique operational demands, making it even more difficult to keep sensitive information safe—but here's the thing: you don't need a fortune to build a strong defense against the possible cyber threats out there.

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SecureWorld News

AUGUST 21, 2020

The ISO assisted the college in restoring locally managed IT services and systems from backup copies. The University had servers encrypted but restored the systems and the access from backups. It had cyber insurance: "The university’s cyber insurance policy paid part of the ransom, and the university covered the remainder.

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SecureWorld News

AUGUST 18, 2020

The Company is working with industry leading cybersecurity firms to immediately respond to the threat, defend the Company's information technology systems, and conduct remediation. Ransomware attacks: another argument for cyber insurance? And cyber attorney Shawn Tuma tells SecureWorld he agrees with that sentiment. "In

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eSecurity Planet

JULY 8, 2022

But it also requires software to orchestrate data movement, backup and restore technology to ensure a current copy of data is available, and the ability to recover systems and data rapidly. This type of backup and DR technology offers RPOs measured in hours. See the Best Backup Solutions for Ransomware Protection.

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Backups Ransomware Technology Marketing 142

Malwarebytes

SEPTEMBER 30, 2022

The first is that they handle troves of sensitive data, especially personally identifiable information (PII) , and the second is that they operate on shoestring budgets with little to no cybersecurity staff or leadership buy-in. We’ll break down five best practices for local government cybersecurity in this post.

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Government Cybersecurity Cyber Insurance Insurance 69

CyberSecurity Insiders

OCTOBER 20, 2021

The only saving grace was that the city had invested in both on-premise and cloud backups. On the business side, the plan should address elements such as having a communication plan for the CISO, CIO and company executives as well as a risk management component that includes cyber insurance. Backup Strategy. The Attack.

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Security Affairs

JUNE 18, 2024

In some cases, attackers are even leveraging the threat of regulatory actions or causing cyber insurance policies to be rendered moot by reporting lapses in security on the part of the victim to regulators and insurers. The indirect costs of ransomware attacks are often even more damaging.

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Webroot

SEPTEMBER 24, 2024

Having regular backups means you can recover without having to pay a ransom. For consumers: Keep personal backups of important files (photos, documents, etc.) For SMBs: Be prepared for increased cyber activity around major political events, as hackers may use the chaos to launch broader attacks.

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SecureWorld News

SEPTEMBER 23, 2021

But did you know the Secret Service is deep into cybersecurity, too? His unique insights around cybersecurity-related topics shine a light on ransomware risk for organizations, government agencies, and the public. Within that, it's four categories: preparation, updates, protection, and backups. Assistant Director of the U.S.

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eSecurity Planet

OCTOBER 18, 2022

The best defense and the best option for recovery will always be the availability of sufficient, isolated data backups and a practiced restoration process. However, even with the best planning, organizations can find a few users, machines, or systems that were overlooked or whose backup may be corrupted or encrypted.

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SecureWorld News

MAY 18, 2021

Tuma often finds himself in the middle of ransomware incident response as Co-Chair of the Data Privacy & Cybersecurity Practice at law firm Spencer Fane. B ecause they're investing in cybersecurity, they're doing a pretty decent job, and there are all these reasons they think it can't happen to them. W e've got backups.

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Ransomware Backups Cyber Insurance Risk 96

Centraleyes

APRIL 24, 2025

Cyber Insurance with AI-Driven Risk Assessments (e.g., Coalition, Resilience)** How they help Cyber insurers now use AI models to assess an organization’s risk posture in real time, adjusting premiums based on proactive security measures.

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Penetration Testing Cyber Insurance Insurance Risk 52

Malwarebytes

JANUARY 15, 2023

As we’ve seen recently, cyber insurance is no guarantee of avoiding a ransomware pitfall either with refusal of payout being decided in a court of law. Backup your data. Backups are the last line of defence against an attack that encrypts your data. Cybersecurity risks should never spread beyond a headline.

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eSecurity Planet

APRIL 6, 2023

Ransomware is the most feared cybersecurity threat and with good reason: Its ability to cripple organizations by locking their data is a threat like no other. Even small and midsize businesses (SMBs) have become targets because of their lack of cybersecurity measures.

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Duo's Security Blog

DECEMBER 7, 2022

The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories. Security Magazine reports less than 10% of companies with fewer than 50 employees have dedicated financial resources for cybersecurity.

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Webroot

OCTOBER 14, 2022

As a result, many organizations are shifting away from cyber insurance and adopting layered defenses in an effort to achieve cyber resilience. The key to staying safe is a layered approach to cybersecurity backed up by a cyber resilience strategy. Protect yourself and your business. Here are tips from our experts.

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CyberSecurity Insiders

OCTOBER 24, 2022

The education sector is increasingly vulnerable to simple and sophisticated cyber threats, and higher learning is especially vulnerable. Many found out what was happening from a third-party cybersecurity firm via Twitter. One report from Sophos shows the full spectrum of what’s happening in the education sector’s cybersecurity systems.

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eSecurity Planet

FEBRUARY 16, 2021

With vulnerabilities rooted in unsuspecting users, the task of preventing these attacks means both staff training and a robust email and network security system that includes a strong backup program so you have a recent copy of your data that you can roll back to. Offline Backups. Screenshot example. Recent attacks. Version restores.

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Malwarebytes

DECEMBER 20, 2022

A little recovery time Don’t wait until ransomware is in your network and encrypting everything to ask if someone has a backup. Law enforcement, cyber insurance (if you have it), external security contractors may well be some of the first entities on your list. Cybersecurity risks should never spread beyond a headline.

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Ransomware Backups Cyber Insurance Encryption 96

Digital Shadows

OCTOBER 14, 2024

Major developments this quarter include “Play” transitioning from double-extortion tactics to targeting ESXi environments and the cybersecurity firm Fortinet experiencing a data breach in which 440GB of customer data was compromised. However, some cyber insurance policies explicitly forbid ransom payments.

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SecureWorld News

SEPTEMBER 14, 2021

They followed the FBI’s advice to not pay the hackers and restored their system from backups they had kept for such an emergency. 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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Security Boulevard

JUNE 26, 2022

If an organization announced any change in financial condition, an increase in attack vectors, coordinated attacks again their systems, and cybersecurity attacks against their employees should be expected. That $3.29, even with cyber insurance, is still a significant hit to the organization’s bottom line.

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Information Security Technology Marketing Data breaches 98

Digital Shadows

NOVEMBER 26, 2024

Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. Organizations with limited cybersecurity budgets or outdated legacy and end-of-life systems are prime targets for threat actors.

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Cyber Attacks Phishing Ransomware Cyber Insurance 59

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. Effectiveness of data backup strategies. Unfortunately, the citizens of the country had to pay the ransom as the city had no cyber insurance.

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Spinone

DECEMBER 8, 2016

Cybersecurity is often overlooked by small business, but over 60% of cyber attacks are targeted at small to medium-sized businesses. Additionally, many cyber liability insurance providers struggle to put a price on high-value company assets, or are reluctant to cover them in the first place.

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Insurance Small Business Backups Cyber Insurance 40

SC Magazine

JUNE 30, 2021

Of that group, some were willing to let their districts part with sizable amount of money, even though local taxpayers would be (at the very least indirectly via cyber insurance costs) taking a hit as well. We recommend they invest in security and backups to better defend against the threat.”. It’s a balancing act.”AS.

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Ransomware Backups Cyber Insurance Media 82

Webroot

SEPTEMBER 27, 2024

Having regular backups means you can recover without having to pay a ransom. For consumers: Keep personal backups of important files (photos, documents, etc.) For SMBs: Be prepared for increased cyber activity around major political events, as hackers may use the chaos to launch broader attacks.

Cyber threats 59

Cyber threats Small Business Scams Cybercrime 59

Malwarebytes

JULY 27, 2022

You don’t need a dedicated SOC or crazy enterprise-grade cybersecurity to deal with “attacks of opportunity.”. How do you restore from backups , and what backups are most important to restore from first? Do you have resources that can help you , such as law enforcement agencies or a cyber insurance firm?

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Ransomware Backups Penetration Testing Cyber Insurance 86

SC Magazine

FEBRUARY 25, 2021

The government has options, but none of them are easy or fast,” said Michael Daniel, former White House cybersecurity coordinator and current president and CEO of the Cyber Threat Alliance. It’s like many things in cybersecurity,” Daniel said. ” Improving baseline cybersecurity. . ” Stopping payments.

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Ransomware Insurance Government Cryptocurrency 104

Malwarebytes

OCTOBER 19, 2022

Make offsite, offline backups. To make this possible you’ll need comprehensive, recently tested, backups that are both offline and offsite, beyond the reach of your attackers. A muli-layered approach to cyber attack prevention. Cyber threat hunting for SMBs: How MDR can help.

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Passwords Ransomware Backups Cyber Insurance 88

Pen Test

OCTOBER 10, 2023

Sopra Steria - One of the Largest Reported Ransoms Europe's major IT services firm Sopra Steria was breached in October 2020 by the Ryuk gang, with extensive backups preventing major disruption. Keep backups completely isolated and air-gapped offline to prevent malware from infecting those too. Use immutable object storage for backups.

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