SC Magazine

JULY 14, 2021

In addition, having cyber insurance coverage in place does not guarantee an organization can recoup losses associated with a ransomware attack. Some 80% of respondents who paid a ransom say they experienced a subsequent attack.

Ransomware 98

Ransomware Cyber Insurance Financial Services Retail 98

The Last Watchdog

SEPTEMBER 7, 2018

Related: HBO hack spurs cyber insurance market. Irdeto’s suite of products helps set-top box manufacturers protect high-value content; its technology also is used by live sports broadcasters to deter hackers from siphoning off pay-for-view sporting events. Makes sense, though. Here are the big takeaways: Making it too expensive.

IoT 133

IoT Technology Software Media 133

SC Magazine

MAY 28, 2021

“You literally cannot continue operations of a manufacturing plant or a pipeline if you don’t have the continuity of business to manage” the logistics, he said. “So So this was a failure of business operations, but it shows the fragility of certain industrial operations like manufacturing,” said Caltagirone.

Insurance 117

Insurance Ransomware Government Risk 117

The Last Watchdog

SEPTEMBER 20, 2019

Eventually, governments will address the risk by beefing up security and purchasing cyber insurance, which go hand in glove. It’s a positive development that Bandura Cyber and other security vendors are focused on making higher use of threat intel feeds generally, and helping SMBs, specifically.

Ransomware 153

Ransomware Government Firewall Cyber Insurance 153

SecureWorld News

JUNE 18, 2020

This time, the victim is a tech company, prominent chipset manufacturer MaxLinear. The chip manufacturer says it will not pay the ransom. Maze ransomware strikes again. Maze ransomware: to pay or not to pay? Perhaps part of the reason is the relatively small impact on its operations.

Ransomware 57

Ransomware Insurance Cyber Insurance Manufacturing 57

SC Magazine

JULY 13, 2021

The data supports a June Avanan report , which confirmed health care has been among the most targeted with phishing attacks during the first half of 2021, alongside the IT and manufacturing industries. Lastly, the report warns entities not to rely on cyber insurance as the rates have skyrocketed in response to the rise in ransomware attacks.

Data breaches 113

Data breaches Insurance Healthcare Education 113

Digital Shadows

JANUARY 14, 2025

The sectors targeted by ransomware groups have also remained consistent: Professional services and technical services (PSTS) and manufacturing companies are primary targets because of their economic importance, low tolerance for operational downtime, and higher willingness to pay ransoms.

Ransomware 126

Ransomware Social Engineering Phishing VPN 126

Security Boulevard

JUNE 2, 2022

Some industries saw particularly high growth of double-extortion attacks, including healthcare (643%), food service (460%), mining (229%), education (225%), media (200%), and manufacturing (190%). Manufacturing was the most targeted industry for the second straight year, making up almost 20% of double-extortion ransomware attacks.

Ransomware 105

Ransomware Architecture Manufacturing Encryption 105

The Security Ledger

AUGUST 20, 2019

And, for companies impacted, it was impressively damaging: halting production lines and operations at global corporations in shipping, pharmaceuticals and manufacturing. In this interview, Bruce and I talk about the growing specter of systemic cyber risk and how insurance companies are adapting to that risk.

Insurance 40

Insurance Cyber Risk Risk Cyber Insurance 40

The Security Ledger

OCTOBER 23, 2018

In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. 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.

Insurance 40

Insurance Cyber Risk Risk Cyber Insurance 40

SC Magazine

JUNE 15, 2021

Dawn Cappelli, vice president of global security and chief information security officer at Rockwell Automation, said that the spike in ransomware attacks, particularly in manufacturing, inspired a tabletop exercise in December with her CEO and all his direct reports to walk through various ransomware scenarios.

Ransomware 60

Ransomware Insurance Cyber Insurance Risk 60

NetSpi Executives

APRIL 27, 2024

Some can’t afford not to pay, and some are covered by cyber insurance. Should I get a ransomware cyber insurance policy? Many organizations have used cyber insurance to recover from ransomware attacks. About 1 in 4 victims pay the ransom. To date, the largest known ransom payment is $70 million.

Ransomware 52

Ransomware Cyber Insurance Backups Insurance 52

Centraleyes

DECEMBER 16, 2024

Cyber-Physical System (CPS) Security As manufacturing, healthcare, and transportation industries become more digitized, the integration of cyber-physical systemslike smart grids, industrial control systems, and IoT devicesis growing. Ensuring visibility, control, and data protection across these environments will be paramount.

Cybersecurity 52

Cybersecurity Insurance Cyber Insurance Risk 52

eSecurity Planet

APRIL 6, 2023

Education, government, energy and manufacturing are others. Cyber criminals have learned that it is not only businesses that make soft targets for the attacks. If you have a cyber insurer , they will have their own processes for responding to any cyber attack.

Ransomware 98

Ransomware Backups Encryption Cybersecurity 98

Spinone

OCTOBER 13, 2020

This includes the Billtrust and German manufacturer, Pilz, ransomware infections. In fact, one report shows that business email compromises are 23% of cyber insurance claims. BitPaymer The BitPaymer ransomware has been linked with various ransomware infections in 2019. Ransoms demanded average $110,000 USD (50 BTC).

Ransomware 52

Ransomware Backups Data breaches Encryption 52

Digital Shadows

OCTOBER 14, 2024

English-speaking countries, particularly the US, UK, Canada, and Australia, have well-developed insurance markets and higher cybersecurity awareness, resulting in higher ransomware insurance adoption. However, some cyber insurance policies explicitly forbid ransom payments.

Ransomware 94

Ransomware Social Engineering Insurance Cyber Insurance 94

Digital Shadows

NOVEMBER 26, 2024

The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. This is likely because threat actors perceive US-based organizations to be more financially capable of paying ransoms due to well-developed cyber insurance.

Cyber Attacks 59

Cyber Attacks Phishing Ransomware Cyber Insurance 59

ForAllSecure

MAY 30, 2023

We know that you know, manufacturing is an area that we've seen a lot of targets over the last quarter. Again, because if you bring down manufacturing operations, there's a high impact to the business and necessity to recover quickly. By no means. Does that mean that there was no ransomware occurring?

Ransomware 40

Ransomware Encryption Authentication Backups 40

ForAllSecure

MAY 17, 2023

Chris Gray of Deep Watch talks about the view from the inside of a virtual SOC, the ability to see threats against a large number of SMB organizations, and the changes to cyber insurance we’re seeing as a result. cyber insurance as a whole was changing heavily. And why is that? It started off pretty easy to get.

Internet 40

Internet Internet Insurance Cyber Insurance 40

Centraleyes

APRIL 9, 2024

For instance, in manufacturing, where processes are often highly dependent on continuous operations, the cost per minute of downtime is easily measurable. This can result in substantial financial losses, often reaching millions of dollars per day for large manufacturing enterprises.

Data breaches 52

Data breaches Cyber Insurance Insurance Ransomware 52

Digital Shadows

NOVEMBER 26, 2024

The US, manufacturing sector, and professional, scientific, and technical services (PSTS) sector are primary targets amidst an overall increase in ransomware attacks. This is likely because threat actors perceive US-based organizations to be more financially capable of paying ransoms due to well-developed cyber insurance.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

SecureWorld News

JUNE 25, 2024

CESER has developed a new framework of best practices aimed at securing clean energy cyber supply chains, with a particular focus on key technologies used in managing and operating electricity, oil, and natural gas systems. The manufacturing sector experienced the second highest number of cyberattacks among U.S.

Energy and Utilities 107

Energy and Utilities Manufacturing Risk Cybersecurity 107

Adam Levin

DECEMBER 27, 2019

Unfortunately, many are not secure because they are protected by nothing more than manufacturer default passwords readily available online. You’re going to have personal cyber insurance. In 2020 there will be somewhere around 20 billion IoT devices in use around the world. HR will save money by spending some.

Cybersecurity 100

Cybersecurity CISO IoT Insurance 100

Jane Frankland

JANUARY 12, 2025

Regulations will require device manufacturers and cloud providers to uphold security-by-design principles, ensuring that potential vulnerabilities are mitigated during the development stage. Cyber Insurance Cyber insurance will become an essential component of risk management strategies.

Cybersecurity 130

Cybersecurity CISO Insurance IoT 130

SecureWorld News

MARCH 5, 2025

The impact will be felt well beyond the involved countries of Canada, USA, Mexico, and China," said Kenrick Bagnall , Founder, KONCYBER & RB-Cyber Assurance; Royal Candian Mounted Police (RCMP) Contractor/Instructor; Toronto Police Service (Cybercrime Unit) (Ret.). " Here is his detailed breakdown: 1.Cross-border

Cyber Risk 110

Cyber Risk Risk Small Business Cyber Insurance 110

Krebs on Security

MARCH 2, 2023

“Any such legislation should prevent manufacturers and software publishers with market power from fully disclaiming liability by contract, and establish higher standards of care for software in specific high-risk scenarios,” the strategy explains. based semiconductor manufacturing and research and to make the U.S.

Cybersecurity 282

Cybersecurity Insurance Cyber Insurance Government 282