eSecurity Planet

OCTOBER 18, 2021

” Cyber Insurance No Longer Reliable. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out.

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Ransomware Cyber Insurance Insurance Digital transformation 105

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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Ransomware Cryptocurrency Insurance Cybercrime 141

SecureWorld News

SEPTEMBER 23, 2021

His unique insights around cybersecurity-related topics shine a light on ransomware risk for organizations, government agencies, and the public. Reporting incidents gives the government and organizations a more accurate way to judge the scope of this problem. "We Cyber defense is about test, test, test.".

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Ransomware Cyber Insurance Insurance Government 89

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. As ProPublica wrot e in its study of the industry, “by rewarding hackers, it encourages more ransomware attacks, which in turn frighten more businesses and government agencies into buying policies.”.

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Insurance Ransomware Cybersecurity Cyber Insurance 131

Webroot

SEPTEMBER 24, 2024

Now, nation-states like Russia and China are working with organized cybercrime groups to launch highly targeted attacks on businesses, governments, and even individuals. Having regular backups means you can recover without having to pay a ransom. For consumers: Keep personal backups of important files (photos, documents, etc.)

Cyber threats 112

Cyber threats Small Business Scams Cybercrime 112

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. Statistics. Ransomware predictions.

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Ransomware Backups Software Encryption 97

Schneier on Security

FEBRUARY 28, 2024

After Merck filed its $700 million claim, the pharmaceutical giant’s insurers argued that they were not required to cover the malware’s damage because the cyberattack was widely attributed to the Russian government and therefore was excluded from standard property and casualty insurance coverage as a “hostile or warlike act.”

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Cyber Insurance Insurance Government Cyber Risk 309

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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Cyber Insurance Ransomware Insurance Backups 98

SC Magazine

FEBRUARY 25, 2021

In the last year, such attacks have swept through every sector, affected schools, hospitals, critical infrastructure, transportation and governments. It is a very difficult issue to address because it’s not something the government would typically be involved in,” Dermody added. They will still pay, but it will be illegal.

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Ransomware Insurance Government Cryptocurrency 104

eSecurity Planet

APRIL 6, 2023

Education, government, energy and manufacturing are others. Cyber criminals have learned that it is not only businesses that make soft targets for the attacks. Ransomware-proof backups: You can limit the damage caused by ransomware by maintaining an effective backup and disaster recovery plan.

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Ransomware Backups Encryption Cybersecurity 98

CyberSecurity Insiders

OCTOBER 24, 2022

From December 2021 through January the following year, Bernalillo County was slammed by a ransomware attack that targeted government services. Freshly on the heels of this cyber security nightmare, the Albuquerque school system was breached. Cyber insurance. Make backups, and practice restoring from them.

Education 58

Education Cyber Attacks Cyber Insurance Insurance 58

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. Information security brings its approved frameworks into the various sprints to help ensure governance and compliance are built into the fabric.

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Information Security Technology Marketing Data breaches 98

Centraleyes

JUNE 11, 2024

Encrypt and securely store backups offsite to protect critical data from unauthorized access or tampering. Get Cyber Insurance Organizations turn to cyber insurance to transfer risk to an organization that would cover the costs of a cyber attack, mitigating their own risk.

Risk 52

Risk Cyber Insurance Insurance Authentication 52

Pen Test

OCTOBER 10, 2023

Ransomware exploded into greater prominence over the last decade with high-profile attacks on hospitals, city governments, and large corporations. 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.

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Ransomware Backups Insurance Cyber Insurance 52

Cytelligence

JANUARY 27, 2020

Effectiveness of data backup strategies. Unlocking – Organizations can either pay the ransom and hope for the cybercriminals to actually decrypt the affected files (which in many cases does not happen), or they can attempt a recovery by removing infected files and systems from the network and restoring data from clean backups.

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Ransomware Cyber Insurance Insurance Encryption 53

Thales Cloud Protection & Licensing

FEBRUARY 15, 2023

Ransomware attacks have become much more dangerous and have evolved beyond basic security defenses and business continuity techniques like next-gen antivirus and backups. An additional 77% concur that governments should do more to assist private enterprises in defending against ransomware. What is Double Extortion Ransomware?

Ransomware 71

Ransomware Encryption Backups Cyber Insurance 71

Webroot

SEPTEMBER 27, 2024

Now, nation-states like Russia and China are working with organized cybercrime groups to launch highly targeted attacks on businesses, governments, and even individuals. Having regular backups means you can recover without having to pay a ransom. For consumers: Keep personal backups of important files (photos, documents, etc.)

Cyber threats 59

Cyber threats Small Business Scams Cybercrime 59

NetSpi Executives

APRIL 27, 2024

Hunt and destroy or encrypt backups hosted in local and cloud networks as well as virtual machine snapshots. Some can’t afford not to pay, and some are covered by cyber insurance. Protect your backup systems. Does backup protect against ransomware? That’s why off-site backups are critically important for recovery.

Ransomware 52

Ransomware Cyber Insurance Backups Insurance 52

Security Boulevard

JUNE 2, 2022

However, government agencies have warned organizations to be prepared for more widespread attacks as the conflict persists. Prepare for the worst with cyber insurance, a data backup plan, and a response plan as part of your overall business continuity and disaster recovery program. Zero trust remains the best defense.

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Ransomware Architecture Manufacturing Encryption 105

SC Magazine

JUNE 15, 2021

Will our cyber insurer buy it or would we?” Even before the recent high-profile attack, industrial giant Hitachi put in place a trusted endpoint solution to provide maximum security against ransomware, and also backup systems and business continuity procedures along with cyber insurance to reduce the risk as much as possible.

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Ransomware Insurance Cyber Insurance Risk 60

SC Magazine

JUNE 14, 2021

Create backups and secure remote access, because during COVID, [the majority of attacks] were remote access credential stuffing or credential reuse, where the remote access didn’t have MFA enabled, and it was either RDP or a VPN concentrator. Sometimes they have the cyber insurance policy. Also anti-phishing.

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Ransomware Passwords VPN Cyber Insurance 85

Thales Cloud Protection & Licensing

MAY 9, 2022

government is recommending to ensure the operations of Critical National Infrastructure are not affected by ransomware attacks. Governments step up to protect all businesses. Government Towards a Zero Trust Architecture dictate U.S. Cyber insurance coverage ramps up. everywhere.

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Cyber Insurance Insurance Backups Ransomware 71

SC Magazine

JUNE 21, 2021

“I think that should really bring pause to corporations and to the government and legislators – not just here, but around the world in terms of how we work on dealing with this, which I think is the beginnings of becoming an epidemic,” said Rodney Joffe, chair of the Neustar International Security Council.

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Ransomware Insurance Government Cyber Insurance 118

Cisco Security

MARCH 22, 2022

But according to Anne Neuberger, the White House’s Deputy National Security Adviser for Cyber and Emerging Technology, this warning is “based on evolving threat intelligence, that the Russian government is exploring options for potential cyberattacks on critical infrastructure in the United States.”. Cyber insurance is not the answer!

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Cyber Insurance Authentication Insurance Cyber Risk 98

SC Magazine

MAY 13, 2021

Thus, updating technology and improving governance can go a long way in mitigating risk. Are the backup and restore capabilities in place? Does the company have cyber insurance in place to pay a ransom? Many ICS environments operate with obsolete technology that’s patched infrequently if at all.

Energy and Utilities 64

Energy and Utilities Ransomware Cyber Insurance Risk 64

Duo's Security Blog

JULY 6, 2021

This change reflects a movement we’re seeing in governments worldwide to be more assertive in improving government agency security. Service providers are already encouraged to comply with the Cyber Assessment Framework (CAF). Not surprisingly, these changes primarily focus on government agencies and the vendors who supply them.

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Government Backups Architecture Encryption 144

SecureWorld News

MARCH 5, 2025

This article explores how the latest tariffs could reshape cybersecurity for enterprises, cybersecurity vendors, and government agencies. The domains of cybersecurity, cybercrime investigations, and cyber insurance will all be impacted. They should know which parts come from high-risk places and have backup plans ready.

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Cyber Risk Risk Small Business Cyber Insurance 110

Adam Levin

MARCH 2, 2020

As bad as the ransomware scourge was for businesses, local governments arguably had it worse. Businesses, individuals, governments, and organizations alike can become savvier about the threat, understand the scope of the problem, and prepare for it. If your company already has cyber insurance coverage, consider increasing it.

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Cyber threats Ransomware Encryption Insurance 215