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The shift to digital experiences and customer service in industries that were historically only brick-and-mortar underscores how rapid digitaltransformation expands the attack surface for cybercriminals. Impact on operations and finances Digital sales represent roughly 15.5%
There is a gaping shortage of analysts talented enough to make sense of the rising tide of data logs inundating their SIEM (security information and event management) systems. Now toss in the fact that digitaltransformation is redoubling software development and data handling complexities. But this hasn’t done the trick.
Even with ransomware costing billions of dollars in losses and cyberinsurance claims, organizations are still impacted beyond the checkbook. These attacks have driven the cost of cyberinsurance premiums higher. Cyberinsurance has become more critical to organizations to help offset the risk to the company.
EventTracker has a bird’s eye view; its unified security information and event management (SIEM) platform includes – behavior analytics, threat detection and response, honeynet deception, intrusion detection and vulnerability assessment – all of which are coupled with their SOC for a co-managed solution. Election threat.
Related: HBO hack spurs cyberinsurance market. Digital media and entertainment giants like Netflix, Amazon, Hulu, HBO, ESPN, Sony, and Disney are obsessive about protecting their turf. Over the past couple of decades, some amazing advances in locking down software code have quietly unfolded in, of all places, Hollywood.
It doesn’t matter how good their cyber hygiene, endpoint protection or event analytics are. The post XM Cyber’s Cybersecurity Predictions for 2023 appeared first on Cybersecurity Insiders. “Despite the plethora of reactive tools that are meant to stop a breach while in progress, organizations will continue to be breached.
In some cases, attackers are even leveraging the threat of regulatory actions or causing cyberinsurance policies to be rendered moot by reporting lapses in security on the part of the victim to regulators and insurers. Downtime and lost productivity during the event and recovery period can severely impact business operations.
So we have to be a little pragmatic also when it comes to drawing boundaries… as digitaltransformation takes over OT, OT and IT get closer together.” Colonial Pipeline also heightened discussion about the influence of ransomware attacks on cyberinsurance. Production requires business operations.”.
Many airports today are engaged in multiple and large-scale digitaltransformation efforts, such as moving IT data to the cloud, sharing real-time flight and ground status with airport workers, and even implementing a BYOD (bring-your-own-device) policy for employees.
In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyberinsurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat.
The legal complaint [PDF] notes that on July 9, 2019, the day it was hit by a ransomware attack, Springhill Memorial Hospital contended that the event had “not affected patient care.” ” CyberInsurance No Longer Reliable. Also read: CyberInsurers Pull Back Amid Increase in Cyber Attacks, Costs. .
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