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. Downtime and lost productivity during the event and recovery period can severely impact business operations.

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SecureWorld News

SEPTEMBER 23, 2021

Within that, it's four categories: preparation, updates, protection, and backups. Cyber defense is about test, test, test.". Familiarize yourself and your organization with cyber insurance. And we want to partner with cyber insurance in order to share that information that will allow us to do that.

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Ransomware Cyber Insurance Insurance Government 89

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. ” Take the initiative.

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SecureWorld News

JANUARY 21, 2024

The costs of recovering from such incidents, especially for smaller organizations without cyber insurance, can be devastating. Having basic cyber hygiene Advanced technology is important, but basics like regular data backups, software updates, strong password policies, and multi-factor authentication are fundamental.

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Cybersecurity Backups Cyber threats Software 103

Webroot

OCTOBER 14, 2022

In other words, 2022 has been an eventful year in the threat landscape, with malware continuing to take center stage. As a result, many organizations are shifting away from cyber insurance and adopting layered defenses in an effort to achieve cyber resilience. The 6 Nastiest Malware of 2022. 2022 was no different.

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Malware Antivirus DDOS Cyber Insurance 76

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. Rapid Response Testing.

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Ransomware Backups Software Encryption 97

Schneier on Security

FEBRUARY 28, 2024

One possible solution, touted by former Department of Homeland Security Secretary Michael Chertoff on a recent podcast , would be for the federal government to step in and help pay for these sorts of attacks by providing a cyber insurance backstop.

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Cyber Insurance Insurance Government Cyber Risk 309

SecureWorld News

DECEMBER 2, 2020

We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. Number one, we're going to want to think about the viability of the backups? Not only do we have backups but also have we tested them? Can we restore from these backups?

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Insurance Cyber Insurance Ransomware Backups 57

Webroot

SEPTEMBER 27, 2024

For consumers: Stay alert to potential phishing attacks or scams related to global events. Whether it’s during an election, the holiday season, a big sporting event, or a major business transaction, cybercriminals wait for the right moment to maximize damage. Having regular backups means you can recover without having to pay a ransom.

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Cyber threats Small Business Scams Cybercrime 59

NetSpi Executives

APRIL 27, 2024

Only about 20% of the ransomware tactics, techniques, and procedures (TTP) used by ransomware attackers are identified out-of-the-box by antivirus (AV), endpoint detection and response (EDR), and security information and event management (SIEM) tools. Some can’t afford not to pay, and some are covered by cyber insurance.

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Malwarebytes

SEPTEMBER 30, 2022

Take cyber insurance , for example. Cyber insurance can prevent local governments from having to pay huge out of pocket costs in the event that they’re hit with a cyberattack. Baltimore learned this the hard way. (An

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Government Cybersecurity Cyber Insurance Insurance 68

CyberSecurity Insiders

OCTOBER 24, 2022

These attacks also tend to be more successful in access and payout in the event of ransom demands, with 74% of attacks ending successfully for hackers. Here are a few prime examples of cyber-attacks in the education sector. Cyber insurance. Often, educational institutions see cyber insurance as a needless expense.

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Education Cyber Attacks Cyber Insurance Insurance 58

SC Magazine

JUNE 30, 2021

Roughly three in four individuals assert that companies should not submit to the demands of ransomware gangs in the event are infected, says one survey report. We recommend they invest in security and backups to better defend against the threat.”. (Alexxsun, CC BY-SA 4.0 link] , via Wikimedia Commons). So which is it?

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Ransomware Backups Cyber Insurance Media 82

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. This demonstrates how threat actors are willing to exploit even the most sensitive of events for malicious purposes.

Cyber Attacks 59

Cyber Attacks Phishing Ransomware Cyber Insurance 59

Digital Shadows

OCTOBER 14, 2024

English-speaking countries, particularly the US, UK, Canada, and Australia, have well-developed insurance markets and higher cybersecurity awareness, resulting in higher ransomware insurance adoption. However, some cyber insurance policies explicitly forbid ransom payments.

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Ransomware Social Engineering Insurance Cyber Insurance 94

Spinone

DECEMBER 8, 2016

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. When deciding whether or not to invest in a cybersecurity insurance policy, companies must evaluate carefully the full impact of a serious data breach.

Insurance 40

Insurance Small Business Backups Cyber Insurance 40

Thales Cloud Protection & Licensing

AUGUST 11, 2021

Even the most critical damages caused by ransomware are repairable as long as you have a solid backup strategy. Ransomware incidents covered by cyber insurance policies. Insurance is a valid and efficient tool mitigating the risks of encryption posed by your system's exposure to malware.

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Ransomware Insurance Encryption Cyber Insurance 71

Security Boulevard

JUNE 26, 2022

That $3.29, even with cyber insurance, is still a significant hit to the organization’s bottom line. Number of endpoints that require backup for compliance. Getting hit with a significant cybersecurity event will have a significant impact on sales and product confidence. Culture of Security.

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Centraleyes

JUNE 11, 2024

Encrypt and securely store backups offsite to protect critical data from unauthorized access or tampering. Leverage Security Information and Event Management (SIEM) solutions, Endpoint Detection and Response (EDR) capabilities, and threat intelligence feeds to enhance detection and response capabilities.

Risk 52

Risk Cyber Insurance Insurance Authentication 52

Spinone

OCTOBER 13, 2020

As is often the case, the cost of restoring files from backups can amount to more than paying the ransom. Global Averages for a Data Breach The following statistics are cited in IBM’s Cost of a Data Breach Report 2019 as the global averages for a data breach event. Backups aren’t working.

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Ransomware Backups Data breaches Encryption 52

SC Magazine

FEBRUARY 25, 2021

Common ransomware protections could have partially mitigated either event. It’s a little blunt to be a solution,” said Mike McNerney, chief operating officer of Resilience, which provides cyber insurance, and a former policy adviser to the Department of Defense. We’re going to end up criminalizing being a victim.

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Ransomware Insurance Government Cryptocurrency 104

Centraleyes

MARCH 19, 2024

Geopolitical events wield substantial influence over global business operations. In the event of a security breach, an IRP ensures rapid response. Key benefits include shorter downtimes, reduced recovery costs, lower cyber insurance, and fewer fines in heavily regulated sectors. How Do Disaster Recovery Plans Work?

Risk 52

Risk Backups Technology Cyber threats 52

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. This demonstrates how threat actors are willing to exploit even the most sensitive of events for malicious purposes.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

ForAllSecure

MAY 30, 2023

Obviously, organizations gotten smart to that and they started doing offline backups securing their backups differently, so that they would continue to have access and availability. By no means. Does that mean that there was no ransomware occurring? And instead we're only going to extort you for the information that we steal.

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SC Magazine

MAY 13, 2021

Last year a friend was preparing for a cybersecurity roundtable and asked me a thought-provoking question: What “black swan” event will make the world take stock of cybersecurity as an existential risk to the world? Every year, cyber events nudge up the digital risk level and we’ve become desensitized to the increasing temperature.

Energy and Utilities 64

Energy and Utilities Ransomware Cyber Insurance Risk 64

Cisco Security

MARCH 22, 2022

Backup all critical data at least daily. Cyber insurance is not the answer! Build for Cyber resiliency – it offers the best chance for achieving mission and business goals in the face of increasing sophisticated cyber attacks. Build out a Zero Trust Architecture (ZTA), and adopt a “Zero Trust or Bust”.

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Cyber Insurance Authentication Insurance Cyber Risk 98

Duo's Security Blog

JULY 6, 2021

The eight areas are: Application Control Patch Applications Configure Microsoft Office Macro Settings User Application Hardening Restrict Administrative Privileges Patch Operating Systems Multi Factor Authentication Daily Backups Each area comes with guidance to improve maturity of the area. Watch this space — there’s more to come!

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Government Backups Architecture Encryption 144