Tech Republic Security

JULY 4, 2024

Rates have declined by 15% since the market peak in 2022, according to Howden Insurance Brokers.

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Webroot

AUGUST 10, 2021

The issue at the heart of ransomware insurance will be familiar to most parents of young children: rewarding bad behavior only invites more of the same, so it’s generally not a good idea. But critics of the ransomware insurance industry argue that’s exactly what the practice does. So, if U.S.-based

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Adam Levin

JUNE 4, 2021

You would think that ExaGrid, a backup appliance and anti-ransomware service might know how to avoid ransomware, but it was hit. . million after it was hit with Conti ransomware. . The FBI announced last month that Conti ransomware had been used against the Irish healthcare system and at least sixteen U.S.

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Ransomware Backups Insurance Healthcare 289

Malwarebytes

OCTOBER 11, 2023

The Philippine Health Insurance Corporation (PhilHealth), has confirmed that it was unprotected by antivirus software when it was attacked by the Medusa ransomware group in September. EDR can detect an intruder's suspicious activity in advance of them running ransomware, as well as being able to identify the ransomware itself.

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Antivirus Insurance Ransomware Healthcare 103

Security Affairs

FEBRUARY 21, 2023

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. The HardBit ransomware group first appeared on the threat landscape in October 2022, but unlike other ransomware operations, it doesn’t use a double extortion model at this time. Very important!

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Insurance Ransomware Cyber Insurance Malware 98

IT Security Guru

FEBRUARY 28, 2023

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

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Cyber Insurance Insurance Marketing Cyber Risk 114

SC Magazine

JUNE 28, 2021

The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI. Growing losses from ransomware attacks have…emphasized that the current reality is not sustainable for insurers either.

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Cyber Insurance Insurance Ransomware Marketing 136

Security Boulevard

OCTOBER 17, 2024

There has been a sharp decline in ransomware payouts, with only 11% of companies admitting to paying demands, which has been attributed to increased investment in backup and recovery technologies. The post Ransomware Payouts Decline as Security Maturity Rises appeared first on Security Boulevard.

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Ransomware Backups Technology Insurance 81

Security Affairs

JUNE 18, 2024

Over the last few years, ransomware attacks have become one of the most prevalent and expensive forms of cybercrime. Today, this tactic has evolved, where ransomware operators in nearly every case first exfiltrate sensitive data and then threaten to publicly expose it if a ransom demand is not paid.

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Ransomware Cryptocurrency Insurance Cybercrime 142

SecureWorld News

MARCH 30, 2023

However, data is as vulnerable as it is valuable, and World Backup Day on Friday, March 31st, is a welcome reminder of the need to have a well thought out data protection strategy in place. The campaign began in 2011 as World Backup Month and was changed to World Backup Day later.

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Backups Insurance Cyber Attacks CISO 94

eSecurity Planet

JULY 12, 2022

The first signs of the ransomware attack at data storage vendor Spectra Logic were reports from a number of IT staffers about little things going wrong at the beginning of the day. Screens then started to display a ransom demand, which said files had been encrypted by the NetWalker ransomware virus. Cyber Insurer Provides Help.

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Ransomware Cyber Insurance Backups Insurance 144

Malwarebytes

APRIL 27, 2022

You’ve likely only seen cybercrime insurance primarily mentioned in relation to attacks on businesses. Most commonly, it’s cited with regard to ransomware attacks in the workplace, or associated data loss. Some folks think the mere presence of insurance simply encourages more attacks , and is hurting more than it’s helping.

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Cyber Insurance Insurance Backups Cryptocurrency 75

SecureWorld News

NOVEMBER 14, 2024

Ransomware attacks on healthcare organizations have sharply increased in 2024, as shown by recent research from Safety Detectives. Compared to 2023, healthcare providers are facing a higher frequency of ransomware incidents, impacting their ability to deliver essential services and protect sensitive patient data.

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Healthcare Ransomware Identity Theft Data breaches 90

Krebs on Security

DECEMBER 7, 2019

A Colorado company that specializes in providing IT services to dental offices suffered a ransomware attack this week that is disrupting operations for more than 100 dentistry practices, KrebsOnSecurity has learned. When asked about reports of a ransomware attack on his company, Miner simply said it was not a good time and hung up.

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Ransomware Backups Insurance Wireless 235

Krebs on Security

MARCH 2, 2021

PrismHR , a company that sells technology used by other firms to help more than 80,000 small businesses manage payroll, benefits, and human resources, has suffered what appears to be an ongoing ransomware attack that is disrupting many of its services. Hopkinton, Mass.-based PrismHR has not yet responded to requests for comment.

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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. million per year , resulting in cyber insurance premiums jumping up by 50-100%. No doubt, cyber insurance is a hot topic right now. The unfortunate reality is that cyber insurance is becoming a necessity for organizations big and small.

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Security Boulevard

JULY 30, 2021

In the wake of the Colonial Pipeline hack, businesses all over the world are getting a very loud reminder that they could be next to be compromised by a ransomware intrusion. The post Cyberresilience: Your Data Insurance Policy appeared first on Security Boulevard. For many, it’s not an ‘if,’ but a case of how and when.

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Insurance Ransomware Hacking Cybersecurity 128

eSecurity Planet

OCTOBER 18, 2022

For any organization struck by ransomware , business leaders always ask “how do we decrypt the data ASAP, so we can get back in business?”. The good news is that ransomware files can be decrypted. What can be done to recover from ransomware attacks when backups are not available? How Does Ransomware Encryption Work?

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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. The number one type of cyber incident so far this year is ransomware. Cyber insurance works.

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CyberSecurity Insiders

JUNE 3, 2022

Healthcare providers are opting to pay a ransom in the event of ransomware attacks, instead of recovering it from data backups. The State of Ransomware in Healthcare 2022 report is against what is being urged by the law enforcement agencies such as CISA and the FBI.

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IT Security Guru

JUNE 17, 2024

Reports suggest annual revenues from ransomware attacks are already in the tens of billions, while some predict ransomware damage costs will exceed $265 billion by 2031. Reports suggest annual revenues from ransomware attacks are already in the tens of billions, while some predict ransomware damage costs will exceed $265 billion by 2031.

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eSecurity Planet

OCTOBER 5, 2021

First, we prepare a plan for the possibility, then when a ransomware attack occurs we execute the plan. To help, we break down the process into the following steps: How to Prepare for Ransomware. Ransomware Response. Simple Ransomware Recovery. How to Prepare for Ransomware. Ransomware Security.

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Krebs on Security

DECEMBER 8, 2022

Ransomware groups are constantly devising new methods for infecting victims and convincing them to pay up, but a couple of strategies tested recently seem especially devious. Department of Health and Human Services (HHS) warned that Venus ransomware attacks were targeting a number of U.S. “ Cl0p ” a.k.a.

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Healthcare Backups Ransomware Insurance 291

Duo's Security Blog

DECEMBER 7, 2022

Much has been published about how the demand — and subsequent cost — for cyber liability insurance has skyrocketed in line with increasing incidents of cyberattacks. The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories.

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Insurance Cyber Insurance Ransomware Risk 88

The Hacker News

FEBRUARY 14, 2023

Regulators, cyber insurance firms, and auditors are paying much closer attention to the integrity, resilience, and recoverability of organization data – as well as The "business value" of data continues to grow, making it an organization's primary piece of intellectual property.

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Cyber Insurance Backups CISO Insurance 85

Krebs on Security

DECEMBER 13, 2021

The consulting firm PricewaterhouseCoopers recently published lessons learned from the disruptive and costly ransomware attack in May 2021 on Ireland’s public health system. The unusually candid post-mortem found that nearly two months elapsed between the initial intrusion and the launching of the ransomware.

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Webroot

AUGUST 27, 2021

When the Institute for Security & Technology’s Ransomware Task Force published its report on combatting ransomware this spring, the Colonial Pipeline, JBS meatpacking and Kaseya VSA attacks were still around the corner. ” -Ransomware Task Force, IST. While many of these would fall to law enforcement, U.S.

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SecureList

MAY 8, 2024

Ransomware attacks continue to be one of the biggest contemporary cybersecurity threats, affecting organizations and individuals alike on a global scale. As we approach International Anti-Ransomware Day, we have analyzed the major ransomware events and trends. The third most active ransomware in 2023 was Cl0p.

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Ransomware Encryption Small Business Cybersecurity 122

NetSpi Executives

APRIL 27, 2024

Table of Contents What is ransomware? Ransomware trends Ransomware prevention Ransomware detection Ransomware simulation Ransomware security terms How NetSPI can help What is ransomware? Ransomware adversaries hold the data hostage until a victim pays the ransom. How does ransomware work?

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CyberSecurity Insiders

JUNE 1, 2023

A recent ransomware attack on a New York-based biotech company, Enzo Biochem, has resulted in the exposure of sensitive information belonging to more than 2.5 The identity of the ransomware group responsible for the attack has yet to be disclosed, as investigations into the incident are ongoing. million patients.

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Ransomware Healthcare Insurance Backups 107

CyberSecurity Insiders

FEBRUARY 21, 2022

A ransomware attack hit Meyer Corp USA, a company that is into the business of Kitchenware, in October last year. And details are now in that Conti Ransomware gang who stole valuable information targeted all of its subsidiaries. The gang behind the ransomware infection is yet to be detected. More details awaited!

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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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eSecurity Planet

APRIL 6, 2023

Ransomware is a type of malicious program, or malware, that encrypts files, documents and images on a computer or server so that users cannot access the data. 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.

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Malwarebytes

NOVEMBER 1, 2021

Ransomware attacks, despite dramatically increasing in frequency this summer , remain opaque for many potential victims. It isn’t anyone’s fault, necessarily, since news articles about ransomware attacks often focus on the attack, the suspected threat actors, the ransomware type, and, well, not much else.

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CyberSecurity Insiders

OCTOBER 20, 2021

Okumu lived through the ransomware attack on the City of Baltimore in 2018, which affected 90% of the municipality’s applications. As the then-director of IT infrastructure for the city, he learned a lot of valuable lessons about defending against and recovering from a ransomware attack. Backup Strategy. Still, it cost U.S. $18

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Malwarebytes

NOVEMBER 15, 2023

This article is based on research by Marcelo Rivero, Malwarebytes’ ransomware specialist, who monitors information published by ransomware gangs on their Dark Web sites. This provides the best overall picture of ransomware activity, but the true number of attacks is far higher.

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Malwarebytes

MARCH 26, 2023

Fruit and vegetable producer Dole has confirmed attackers behind its February ransomware attack accessed employee data. The company has also declined to comment when pressed for more details about the ransomware attack. Byrne adds that getting insurance in North America now is "prohibitive." Create offsite, offline backups.

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