CyberSecurity Insiders

DECEMBER 26, 2022

Insurance companies like Lloyd offer cyber insurance policies that cover a business from facing a business loss during a cyber-attack. However, in coming days, cyber attacks will become uninsurable, as per Mario Greco, the Chief of Zurich Insurance. So, will cyber insurance vanish with time?

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SecureWorld News

APRIL 17, 2023

When considering adding a cyber insurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyber insurance can help ensure compliance with these requirements. Can companies live without cyber insurance?

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Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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Malwarebytes

JULY 10, 2022

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.

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CyberSecurity Insiders

AUGUST 15, 2022

Ever wondered what is covered and what is not in your Cyber Insurance Policy? If not, you better review the guidelines and inform all your C-level employees on strategies to cope with the losses that remain out of the cyber insurance cover. Otherwise, the cyber insurer will not offer any policy coverage.

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Cyber Insurance Insurance Data collection Antivirus 90

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. As cyber criminals mature and advance their tactics, small and medium businesses become the most vulnerable because they lack the capacity – staff, technology, budget - to build strong cyber defenses. The necessity for cyber-insurance coverage.

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SC Magazine

MAY 24, 2021

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

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CyberSecurity Insiders

NOVEMBER 15, 2022

Cyber Insurance premiums are becoming dearer and the reason for such a rise is claimed to be sophistication in attacks that are making mitigation and recovery expensive. Most companies are showing laxity in following basic cyber security hygiene, leading to a surge in cyber-attacks and data breaches.

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The Hacker News

NOVEMBER 9, 2022

The rise in the costs of data breaches, ransomware, and other cyber attacks leads to rising cyber insurance premiums and more limited cyber insurance coverage. This cyber insurance situation increases risks for organizations struggling to find coverage or facing steep increases.

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Security Affairs

FEBRUARY 6, 2021

Packaging giant WestRock revealed this week that the recent ransomware attack impacted the company’s IT and operational technology (OT) systems. WestRock did not share details about the security incident, it only confirmed that its staff discovered the attack on January 23. million.

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Security Affairs

DECEMBER 28, 2022

The chief executive of insurance giant Zurich warns that cyber attacks, rather than natural catastrophes, will become uninsurable. Mario Greco, chief executive of insurer giant Zurich, has warned that cyber attacks will become soon “uninsurable.”. These people can severely disrupt our lives.”

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Security Affairs

APRIL 30, 2019

Aluminum producer Norsk Hydro estimated the cost of the massive attack cyber attack targeting the company in March at around $50 million. Dollar losses due to the NotPetya ransomware massive attack. The news of the cyber attack had an immediate economic impact and caused a drop in the share price of 2.0

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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.

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CyberSecurity Insiders

SEPTEMBER 21, 2021

As soon as we hear or read about a ransomware attack on a company, we are in a state of mind that the business needs to pay only the ransom in order to avoid a loss to its data continuity on a permanent loss. But we never think or bother about the hidden/unexpected costs that a file encrypting malware attack brings with it.

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Ransomware Cyber Insurance Insurance Marketing 116

Joseph Steinberg

AUGUST 5, 2021

Likewise, cyber insurance policies for individuals are starting to appear in the marketplace. Remember, a cyber-insurance policy is a legal contract – it is absolutely essential that policyholders adhere to policy requirements or they may find their otherwise valid claims denied should a cybersecurity incident occur.

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Security Boulevard

JULY 30, 2022

Staying Ahead of the Distortion of a Cyber Attack? Each firewall, IDS, MFA, and email security is built to protect and stop cyber attacks. Growing attack vectors — Real or False Flag? Ransomware, the attack on management consoles, and whale phishing continue to spread across new attack surfaces in organizations.

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SecureWorld News

MAY 26, 2021

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

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Security Affairs

FEBRUARY 8, 2024

Cyber Crime Surge: During COVID-19 , cyber crimes shot up by 600%, showing how threats adapt to global changes. Phishing Attacks: Phishing is the top cyber attack, causing 90% of data breaches. Shockingly, 96% of these attacks come through email. Ransomware Attacks: In 2023, a whopping 72.7%

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CyberSecurity Insiders

JANUARY 6, 2023

Similarly in cybersecurity, enterprises typically proof themselves up against last year’s strategies and attack vectors. By the time they adjust their processes, beef up their defenses, and add new layers of security, they find themselves battling more virulent ransomware strains and cyber-scams. But not insurance companies.

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eSecurity Planet

OCTOBER 18, 2021

A lawsuit working its way through the courts could have a lot to say about the liabilities facing organizations that have been hit by ransomware attacks – and could have implications for cybersecurity preparation and regulation in general. Hospital’s Operations Hit by Ransomware. ” Cyber Insurance No Longer Reliable.

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eSecurity Planet

OCTOBER 5, 2021

Spending money you hadn’t budgeted to hire experts to clean up an unexpected mess is at the bottom of every manager’s wish list, but in the case of a cyber attack as damaging as ransomware , turning incident response over to a pro may be the best thing you can do. Minimize downtime. Lack of expertise.

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CyberSecurity Insiders

OCTOBER 26, 2022

The impact of ransomware attacks on businesses is twofold. Not only do businesses have to grapple with the impact of actual attacks, but they also must continue to prepare for the possibility of additional attacks. The Dangers of Ransomware Attacks. By Rajesh Ram, Chief Strategy Officer at Egnyte.

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CyberSecurity Insiders

APRIL 19, 2021

Hiscox Cyber Readiness Report 2021 states that most of the German firms are vulnerable to cyber attacks and are topping the list of the study group with a loss tally of $48 million. Researchers who conducted the survey concluded after gauging six key cyber security areas related to people, technology and processes.

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The Last Watchdog

SEPTEMBER 20, 2019

However, at this moment in history, two particularly worrisome types of cyber attacks are cycling up and hitting local government entities hard: ransomware sieges and election tampering. population 12,046, paid $460,000, respectively, for ransomware decryption keys. Ransomware attacks are trendy again,” Weller told me. “If

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Security Affairs

JANUARY 14, 2019

Zurich American Insurance Company is refusing to refund its client because consider the attack as “an act of war” that is not covered by its policy. Considering that Mondelez International’s net revenues were $6.4bn in Q1, it is possible to quantify the overall economic impact of a cyber attack.

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Cyber Insurance Insurance Cyber Attacks Advertising 109

eSecurity Planet

FEBRUARY 16, 2021

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. A ransomware attack is about as bad as a cyber attack can get. Jump to: What is ransomware? How ransomware works. Preventing ransomware. Ransomware types.

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Security Affairs

JULY 8, 2019

Government computer systems at La Porte County, Indiana, were shut down after a cyber attack hit them on July 6. Experts believe it was a ransomware attack. On July 6, a cyber attack brought down government computer systems atLa Porte County, Indiana.

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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. Freshly on the heels of this cyber security nightmare, the Albuquerque school system was breached.

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Education Cyber Attacks Cyber Insurance Insurance 58

SecureWorld News

NOVEMBER 12, 2020

Sometimes when you are down in the cyber attack trees defending your organization, it can be tough to see the cyber threat forest. And now we have brand new research coming from the EU which unpacks the top cyber threats as they stand now. What are the top cyber threats right now? Ransomware. Cryptojacking.

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SecureWorld News

AUGUST 25, 2021

Ransomware. Ransomware. Ransomware. How am I protecting my organization from an attack? What will our insurance cover? As ransomware attacks have spiked in the last year, a common theme for many organizations is that the attack was the result of failed cybersecurity. Will we pay the ransom?

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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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The Last Watchdog

OCTOBER 5, 2023

Erin: What are some of the biggest cyber threats that businesses face today? Byron: The economic impact of phishing, ransomware, business logic hacking, Business Email Compromise (BEC) and Distributed Denial of Service (DDoS) attacks continues to be devastating. Erin: How has the ransomware threat evolved in recent years?

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Cyber threats Cyber Insurance Threat Detection Cybersecurity 203

Malwarebytes

DECEMBER 20, 2022

H-Hotels, a large hospitality chain with 60 hotels across several countries including Germany and Switzerland has announced it has fallen victim to a ransomware attack. The incident, which took place on December 11, is allegedly a double whammy of hijacked devices and data theft…if a ransomware group is telling the truth.

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SecureList

NOVEMBER 9, 2022

Supply-chain will become more of a sweet spot for targeted ransomware and state-sponsored espionage campaigns. Phishing attacks are going to become even more sophisticated, since a lot of basic tactics have already been tried this year, and businesses learned to repel those. Businesses will still be mostly concerned with ransomware.

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Malwarebytes

JANUARY 26, 2022

Due to the evolving and growing impact of cybersecurity incidents there are some questions starting to arise about the way that insurance companies deal with the costs that are the results of such incidents. But cyber insurance comes in different flavors and sizes. An act of war? Lloyd’s of London.

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Insurance Cyber Insurance Ransomware Data breaches 81

Joseph Steinberg

AUGUST 5, 2021

First-party insurance, therefore, typically covers the costs of actions needed after a data breach, extortion, ransomware attack, or other hacker malfeasance. First-party insurers may also pay ransomware ransoms, for the costs of notifying customers of a data breach, and for lost business during incident-related downtime.

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Security Boulevard

NOVEMBER 24, 2023

Why is the insurance industry struggling with this? Cyber attackers escalate and adapt quickly, which undermines the historical-based models that insurance companies rely on. Attackers are continually shifting their maneuvers that identify victims, cause increasing loss, and rapidly shift to new areas of impact.

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