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Insurance cover becoming impossible for Cyber Attacks

CyberSecurity Insiders

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?

Insurance 129
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Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

Insiders

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Good-bye, insurance coverage for nation-state cyber attacks

Security Boulevard

announced that it will require its underwriters, globally, “to exclude catastrophic state-backed hacks from stand-alone cyber insurance policies” starting in March 2023. This elimination of cyber policies involving nation-state adversaries is not surprising. Last week, Lloyd’s of London Ltd.

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Change Healthcare data breach exposed the private data of over half the U.S.

Security Affairs

On February 21, a cyber attack disrupted IT operation of the healthcare organization, and more than 100 Change Healthcare applications were impacted. In early March, the Alphv/BlackCat ransomware gang claimed responsibility for the attack and added the company to its Tor leak site. . population.”

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Security Blueprints of Many Companies Leaked in Hack of Swedish Firm Gunnebo

Krebs on Security

Five months later, Gunnebo disclosed it had suffered a cyber attack targeting its IT systems that forced the shutdown of internal servers. Larsson quotes Gunnebo CEO Stefan Syrén saying the company never considered paying the ransom the attackers demanded in exchange for not publishing its internal documents.

Hacking 356
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2023 Anna Jaques Hospital data breach impacted over 310,000 people

Security Affairs

In 2023, upon discovering the cyber attack, the Anna Jaques Hospital took the impacted systems down and launched an investigation into the security breach. Follow me on Twitter: @securityaffairs and Facebook and Mastodon Pierluigi Paganini ( SecurityAffairs hacking,Anna Jaques Hospital)

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Change Healthcare data breach impacted over 100 million people

Security Affairs

On February 21, a cyber attack disrupted IT operation of the healthcare organization, more than 100 Change Healthcare applications were impacted. In early March, the Alphv/BlackCat ransomware gang claimed responsibility for the attack and added the company to its Tor leak site.