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Many of these attacks took advantage of known vulnerabilities and security misconfigurations in storage and backup systems. Continuity exposed the extent of the problem two years ago : on average, enterprise storage devices have 16 security misconfigurations, of which three are critical. Insurance Refusals and Rate Hikes.
Unfortunately, many security and risk leaders today use awareness as a way to deflect blame if something goes wrong. There is a strong correlational reason cyberinsurance underwriters care about those key controls and coverage in the application process.
CyberInsurer Provides Help. As Spectra Logic had the foresight to take out cyberinsurance , Chubb representatives were professional and helpful, according to Mendoza. Also read: Top 8 CyberInsurance Companies for 2022 Best Ransomware Removal and Recovery Services. Most had been infected. Lessons Learned.
Take cyberinsurance , for example. Cyberinsurance can prevent local governments from having to pay huge out of pocket costs in the event that they’re hit with a cyberattack. 24/7 monitoring of cyber threats. Employee securityawareness training. Baltimore learned this the hard way. (An
Apply software security patches and conduct regular securityawareness employee training to reduce vulnerabilities that can be exploited by cybercriminals. Prepare for the worst with cyberinsurance, a data backup plan, and a response plan as part of your overall business continuity and disaster recovery program.
Ransomware attacks have become much more dangerous and have evolved beyond basic security defenses and business continuity techniques like next-gen antivirus and backups. The problem is that businesses are not yet aware of double or triple extortion ransomware and how these tactics can affect their data protection strategies.
Disable or bypass detective security controls. 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 cyberinsurance. Protect your backup systems. Does backup protect against ransomware?
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. And, then, upgrading securityawareness training. Also anti-phishing.
If the law firm had cyberinsurance, the policy may cover part of a ransom payment. When Florida cities paid more than a million dollars to ransomware operators in 2019, insurance covered most of it. The company says we're not going to pay the ransom, or we've got the backups.
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