SC Magazine

JULY 13, 2021

million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 The health care sector saw over 6,000 phishing emails out of an average of 451,792 emails. of all phishing attacks were business email compromise attempts, and just 2.2%

Data breaches 113

Data breaches Insurance Healthcare Education 113

Duo's Security Blog

MAY 23, 2022

Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%. Do you need it?

Insurance 105

Insurance Cyber Insurance Data breaches Backups 105

Webroot

JULY 25, 2022

Cyber insurance becomes mainstream discussion. As cyberattacks have become more costly and more challenging to track, cyber insurance has gained prominence across the industry. The cyber insurance market is expected to reach around $20B by 2025.

Cyber Insurance 136

Cyber Insurance Insurance Marketing Ransomware 136

SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

Insurance 113

Insurance Cyber Insurance Ransomware InfoSec 113

Krebs on Security

JULY 24, 2018

Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. million total. ” .” ” . ”

Banking 198

Banking Insurance Computers and Electronics Cyber Insurance 198

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. Data Breach Costs: The average global cost of a data breach in 2023 was $4.45

Social Engineering 142

Social Engineering Cyber Attacks Cyber Insurance IoT 142

Krebs on Security

DECEMBER 12, 2018

Earlier this year, FICO began touting its Cyber Risk Score (PDF), which seeks to measure an organization’s chances of experiencing a data breach in the next 12 months, based on a variety of measurements tied to the company’s public-facing online assets. In October, FICO teamed up with the U.S.

Cyber Risk 240

Cyber Risk Energy and Utilities Risk Marketing 240

Security Boulevard

MAY 12, 2022

Phishing attacks? With sweeping speed, users across the world grew in the millions thanks to Mr. Insurance carriers will offer a variety of different policies and coverage, including: Costs associated with an actual data breach, including letters to all affected victims. What Is Not Covered Under Cyber Insurance?

Cyber Insurance 105

Cyber Insurance Insurance Marketing Firewall 105

Webroot

SEPTEMBER 7, 2023

The number of ransomware attacks has increased by 18% , while the worldwide volume of phishing attacks doubled to 500 million in 2022. billion to data breaches and cybercrime. The best way to weather these challenges is to become a cyber resilient business. Here are two tools that can protect your data: 1.

Encryption 119

Encryption Cyber Insurance Cybercrime Phishing 119

SecureList

NOVEMBER 9, 2022

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. As such, we anticipate a booming cyber insurance industry as many organizations heed these warnings and seek to guard against ransomware attacks.

Cybersecurity 145

Cybersecurity Cyber Insurance Cybercrime IoT 145

Adam Levin

MARCH 16, 2020

That is exponentially more expensive than other cyber events. Consider that the average cost for a ransomware attack against a business is about $4,400, and your run of the mill phishing incident weighs in at a much less hefty $500. So Isn’t BEC Just Another Form of Phishing? BEC has a home In the pantheon of ishings.

Scams 130

Scams Identity Theft Phishing Accountability 130

Adam Levin

JULY 8, 2020

A recent domain hijack of Japanese cryptocurrency exchange Coincheck.com was used to spoof the company in a spear-phishing campaign. We are all weary of the endless cycle of hacks and data breaches and we’re increasingly blaming businesses that have been compromised rather than the hackers themselves.

Hacking 130

Hacking Retail Cyber Insurance Authentication 130

eSecurity Planet

OCTOBER 5, 2021

Paying for internal assessments and penetration tests by a third party can provide fresh thinking and a level of assurance for stakeholders such as customers, the board of directors, and the insurance company that wrote our cyber insurance policy. Is the attack small enough that we do not need to file a cyber insurance claim?

Ransomware 132

Ransomware Backups Insurance Cyber Insurance 132

Malwarebytes

SEPTEMBER 14, 2022

There are three big ones: Phishing : If you have a DNS filter, as soon as someone in your business clicks a link to a malicious website, they’re prevented from visiting it. Bonus: Cyber insurance. Without cyber insurance, you can expect to pay a dizzying amount of cash. Let’s recap.

Technology 79

Technology DNS Cyber Insurance Insurance 79

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. Developers author sophisticated ransomware variants and provide regular updates to ensure their efficacy.

Ransomware 141

Ransomware Cryptocurrency Insurance Cybercrime 141

SecureWorld News

AUGUST 23, 2023

Mika Aalto, Co-Founder and CEO at Hoxhunt : "Today, most security leaders admit that data breaches are a question of 'when,' not 'if,' because most have responded to an incident within the past few years.

Cybersecurity 96

Cybersecurity Cyber Risk Risk Cyber Insurance 96

BH Consulting

JUNE 22, 2021

Like all insurance, though, there is good and bad. You could argue cybersecurity insurance is useful because it makes people think of business risk, not just IT problems. Ultimate responsibility for data breaches rests with the board and the CEO. What security measures will the insurance company ask you to have?

Insurance 83

Insurance Cybersecurity Cyber Insurance Cyber Risk 83

Malwarebytes

SEPTEMBER 30, 2022

Cyber Resilience Review (CRR) : The CRR assessment evaluates your organization’s operational resilience and cybersecurity practices. Phishing Campaign Assessment (PCA) : Evaluates an organization’s susceptibility and reaction to phishing emails. Take cyber insurance , for example.

Government 68

Government Cybersecurity Cyber Insurance Insurance 68

SecureWorld News

NOVEMBER 22, 2021

In a BEC incident, you're almost certainly going to be handling a combination of: • wire transfers or other financial losses; • compromised sensitive information, such as employee or customer data; • potential email server and data breaches of unknown size; and • branding and reputation issues. BEC-IRP Section 2: Identification.

Scams 98

Scams Cybercrime Accountability Banking 98

SecureWorld News

JANUARY 21, 2024

Phishing attacks, for instance, are extremely common: these are deceptive emails or messages designed to steal data. Ransomware is another significant threat, where attackers encrypt an organization's data and demand payment for its release. Because of this, it's crucial to understand the types of threats nonprofits face.

Cybersecurity 104

Cybersecurity Backups Cyber threats Software 104

Centraleyes

DECEMBER 16, 2024

Verizons Data Breach Investigations Report showed that 74% of security breaches involve a human element, with system administrators and developers accounting for most of these errors. These tools will help companies stay compliant with evolving regulations while minimizing the risk of data breaches.

Cybersecurity 52

Cybersecurity Insurance Cyber Insurance Risk 52

Spinone

OCTOBER 13, 2020

In IBM’s Cost of a Data Breach Report 2019 cited the following: Lost business is the biggest contributor to data breach costs The average cost of lost business in 2019 was $1.42 There is no question that ransomware found in SPAM/phishing emails are one of the main threat vectors for a ransomware infection.

Ransomware 52

Ransomware Backups Data breaches Encryption 52

Digital Shadows

NOVEMBER 26, 2024

Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. This increase is likely driven by high employee turnover and easy access to phishing kits. Meanwhile, “RansomHub” is rising rapidly due to its attractive ransomware-as-a-service (RaaS) model.

Cyber Attacks 59

Cyber Attacks Phishing Ransomware Cyber Insurance 59

Centraleyes

APRIL 9, 2024

According to IBM’s recently released “Cost of a Data Breach” statistics report, the average financial toll of a data breach has surged to an unprecedented $4.45 Regional Disparities in Data Breach Costs The United States emerges with a significantly higher average cost of $9.4

Data breaches 52

Data breaches Cyber Insurance Insurance Ransomware 52

Digital Shadows

OCTOBER 14, 2024

Major developments this quarter include “Play” transitioning from double-extortion tactics to targeting ESXi environments and the cybersecurity firm Fortinet experiencing a data breach in which 440GB of customer data was compromised. However, some cyber insurance policies explicitly forbid ransom payments.

Ransomware 94

Ransomware Social Engineering Insurance Cyber Insurance 94

Duo's Security Blog

JUNE 21, 2021

According to Verizon’s most recent Data Breach Incident Report , instances of advanced ransomware have doubled in the past year, alongside major upticks in phishing attacks and social engineering. The advancing ransomware business is a threat not just for the big guys, but for organizations of every size.

Insurance 105

Insurance Cyber Insurance Data breaches Social Engineering 105

eSecurity Planet

AUGUST 9, 2022

GDPR, the EU’s flagship data privacy and “right to be forgotten” regulation, has made the stakes of a data breach higher than ever. M]uch of InfoSec management falls back on employee training and avoiding employee error – particularly with respect to phishing , spear phishing, and encryption lapses.”. In the U.S.,

Data privacy 145

Data privacy Encryption Data breaches Insurance 145

Digital Shadows

NOVEMBER 26, 2024

Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. This increase is likely driven by high employee turnover and easy access to phishing kits. Meanwhile, “RansomHub” is rising rapidly due to its attractive ransomware-as-a-service (RaaS) model.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

Security Affairs

APRIL 24, 2022

T-Mobile confirms Lapsus$ had access its systems Are you using Java 15/16/17 or 18 in production? Patch them now!

Cyber Insurance 100

Cyber Insurance Spyware Firmware Insurance 100

SecureWorld News

NOVEMBER 12, 2020

First, however, let's look at the top 15 cyber threats organizations face right now, according to the report: Malware. Data Breach. Cyber Espionage. 50%_increase in malware designed to steal personal data or stalkerware. Web-based Attacks. Web Application Attacks. Distributed Denial of Service (DDoS). Ransomware.

Cyber threats 126

Cyber threats Insurance Cyber Insurance Ransomware 126

BH Consulting

JUNE 13, 2023

Target the human, swipe the cash: Verizon DBIR 2023 highlights crime trends Manage the human risk and mind your money: those are two key takeaways from Verizon’s 2023 Data Breach Investigations Report. Phishing frauds involving email, text messages and video were up by 417 per cent in the same time period.

Social Engineering 52

Social Engineering Data breaches Scams DDOS 52

SC Magazine

MARCH 29, 2021

Traditionally that has meant phishing lures, credential theft and other low-effort pathways, but some observers point to episodes like the recent weaponization of the Microsoft Exchange vulnerabilities by multiple ransomware groups and worry that attacks at the application software level could become a more attractive option in the near future.

Software 120

Software Hacking Government Cyber Insurance 120

The Last Watchdog

DECEMBER 15, 2024

Cunningham John Paul Cunningham , CISO, Silverfort Identity-based attacks in 2024, like those on Microsoft and Snowflake, are prompting insurers to intensify scrutiny in 2025. MFA attacks, leveraging phishing and session hijacking, are set to rise.

Cybersecurity 290

Cybersecurity Cyber threats CISO Energy and Utilities 290

Adam Levin

MARCH 2, 2020

A recent study found that the cyber gap impacts 74 percent of organizations, with 63 percent of cybersecurity professionals reporting that the talent gap increased their workload, 68 percent reporting negative effects on their personal lives, and 38 percent reporting higher burnout rates. 1 Cyber Threat This Year.

Cyber threats 215

Cyber threats Ransomware Encryption Insurance 215

Jane Frankland

DECEMBER 7, 2023

It’s likely we’ll continue to witness a significant shift in the motivation behind prominent cyberattacks, as data sources indicate a resurgence in activities such as information theft, covert communication monitoring, and content manipulation from state sponsored attackers and cybercriminals. The first is by rule making.

Cybersecurity 130

Cybersecurity Cyber threats Insurance Artificial Intelligence 130

Adam Levin

DECEMBER 27, 2019

fewer of you to go around because at this moment in history everyone understands that a good CISO is critical to the ongoing success of an enterprise (the 2019 IBM Cost of Data Breach study found that the average cost to an organization was $3.92 You’re going to have personal cyber insurance.

Cybersecurity 100

Cybersecurity CISO IoT Insurance 100

Jane Frankland

JANUARY 12, 2025

Sophisticated social engineering tactics, phishing campaigns, or financial incentives make it easier for cybercriminals to use insiders as tools for gaining access and maintaining their foothold in systems rather than hacking in. Cyber threats often exploit human errors, whether through phishing attacks, weak passwords, or lapses in protocol.

Cybersecurity 130

Cybersecurity CISO Insurance IoT 130