Graham Cluley

FEBRUARY 22, 2023

A ransomware outfit is advising its victims to secretly tell them how much insurance they have, so their extortion demands will be met. Read more in my article on the Tripwire State of Security blog.

Insurance 123

Insurance Cyber Insurance Ransomware Malware 123

Bleeping Computer

AUGUST 18, 2021

Tokio Marine Holdings, a multinational insurance holding company in Japan, announced this week that its Singapore branch, Tokio Marine Insurance Singapore (TMiS), suffered a ransomware attack. [.].

Insurance 138

Insurance Ransomware 138

Webroot

AUGUST 10, 2021

The issue at the heart of ransomware insurance will be familiar to most parents of young children: rewarding bad behavior only invites more of the same, so it’s generally not a good idea. But critics of the ransomware insurance industry argue that’s exactly what the practice does. So, if U.S.-based

Insurance 128

Insurance Ransomware Cybersecurity Cyber Insurance 128

Tech Republic Security

JULY 4, 2024

Rates have declined by 15% since the market peak in 2022, according to Howden Insurance Brokers.

Insurance 145

Insurance Cyber Insurance Marketing Backups 145

CyberSecurity Insiders

JULY 12, 2022

A Ransomware called BazarCall seems to target Insurance agents and clients and so Insurance specialist CFC has issued a warning to the companies into similar business and operating across the globe to step-up their defense-line against malware attacks, by proactively taking adequate measures.

Insurance 106

Insurance Ransomware Backups Malware 106

Security Boulevard

MAY 21, 2021

Just a week after announcing it would no longer cover ransomware payments in France, global insurance company AXA has been hit with a targeted ransomware attack. The post Avaddon Targets Insurer AXA with Ransomware | Avast appeared first on Security Boulevard.

Insurance 138

Insurance Ransomware DDOS Banking 138

Security Affairs

APRIL 23, 2023

Non-profit health insurer Point32Health suffered a ransomware attack and has taken systems offline in response to the incident. Non-profit health insurer Point32Health has taken systems offline in response to a ransomware attack that took place on April 17. ” reads the statement published by the insurer.

Insurance 98

Insurance Ransomware Education Accountability 98

Graham Cluley

MARCH 22, 2021

A member of the REvil ransomware gang claims that the group specifically targets firms who have taken our cyber insurance. And what's more, it will hack insurance firms to identify them.

Cyber Insurance 144

Cyber Insurance Insurance Ransomware Hacking 144

Graham Cluley

MARCH 28, 2021

Insurance firm CNA Hardy says that it has suffered a “sophisticated cybersecurity attack” that has impacted its operations, including its email system.

Cyber Insurance 141

Cyber Insurance Insurance Ransomware Cybersecurity 141

SecureWorld News

JULY 2, 2024

Global cyber insurance premiums are declining despite an uptick in ransomware attacks, according to a recent report by insurance broker Howden. This trend reflects improved business security practices, evolving insurance industry dynamics, and changing attitudes toward cyber risk management. Sarah Neild, head of U.K.

Cyber Insurance 87

Cyber Insurance Insurance Cyber Risk Marketing 87

CSO Magazine

OCTOBER 21, 2021

New data highlighting fluctuations relating to ransomware attack and payment claims indicates significant shifts in the cyberthreat landscape. Could such variations trigger changes in the cyber insurance market and, if so, how will they impact insurance carriers and organizations? Learn the 7 keys to better risk assessment. |

Cyber Insurance 133

Cyber Insurance Insurance Ransomware CSO 133

CSO Magazine

MAY 15, 2023

Companies with cyber insurance are more likely to get hit by ransomware, more likely to be attacked multiple times, and more likely to pay ransoms, according to a recent survey of IT decision makers. To read this article in full, please click here

Insurance 123

Insurance Cyber Insurance Ransomware Encryption 123

Security Boulevard

FEBRUARY 2, 2023

Many organizations are struggling today with aligning their security controls with what underwriters now require in order to get insurance coverage against ransomware attacks. The post <strong>Need an Insurance Policy Against Ransomware Attacks? The post Need an Insurance Policy Against Ransomware Attacks?

Insurance 98

Insurance Ransomware Cyber Insurance Accountability 98

SecureWorld News

JANUARY 11, 2024

In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents. However, just as the threats evolve, so too does the cost of protection, with the global cyber insurance market projected to balloon to a staggering $90.

Cyber Insurance 105

Cyber Insurance Insurance Cyber Risk Data breaches 105

Security Affairs

JULY 9, 2021

Insurance giant CNA notifies customers of a data breach after the Phoenix CryptoLocker ransomware attack suffered in March. US insurance giant CNA is notifying customers of a data breach after the ransomware attack that it suffered in March. SecurityAffairs – hacking, ransomware). Pierluigi Paganini.

Data breaches 145

Data breaches Insurance Ransomware Identity Theft 145

Malwarebytes

JANUARY 5, 2023

The Supreme Court of Ohio issued a ruling days before the New Year that a software and service provider shouldn't be covered by insurance against a ransomware attack as it didn't cause direct or physical harm to tangible components of software, as it doesn’t have any. its policy owner, denied the claim.

Insurance 84

Insurance Software Ransomware Media 84

CSO Magazine

JUNE 14, 2023

Finding the right insurance has become a key part of the security equation, which is no surprise given that the average cost of a data breach in the US has risen to $9.44 The global cyber insurance market was valued at $13.33 The global cyber insurance market was valued at $13.33 billion in 2023 to $84.62 billion by 2030.

Insurance 121

Insurance Data breaches Cyber Insurance Marketing 121

The Hacker News

JUNE 20, 2022

Insurance exists to protect the insured party against catastrophe, but the insurer needs protection so that its policies are not abused – and that's where the fine print comes in. However, in the case of ransomware insurance, the fine print is becoming contentious and arguably undermining the usefulness of ransomware insurance.

Insurance 108

Insurance Ransomware 108

Security Weekly

JANUARY 12, 2022

The costs of cyber insurance policies are rising exponentially while underwriters are tightening the rules around who qualifies for cyber insurance, and at the same time, insurer capacity is constricting dramatically. The post Ransomware Damage Claims Driving Insurance Hikes appeared first on Security Weekly.

Insurance 89

Insurance Cyber Insurance Ransomware Risk 89

Security Affairs

NOVEMBER 18, 2024

A ransomware attack on Great Plains Regional Medical Center compromised personal data of 133,000 individuals, exposing sensitive information. On September 8, 2024, Great Plains Regional Medical Center (Oklahoma) suffered a ransomware attack. “On September 8, 2024, we suffered a ransomware attack on our computer system.

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Ransomware Insurance Encryption Healthcare 124

Bleeping Computer

JULY 9, 2021

CNA Financial Corporation, a leading US-based insurance company, is notifying customers of a data breach following a Phoenix CryptoLocker ransomware attack that hit its systems in March. [.].

Insurance 138

Insurance Data breaches Ransomware 138

Threatpost

JUNE 1, 2021

Companies relying on their cyber-insurance policies to pay off ransomware criminals are being blamed for a recent uptick in ransomware attacks.

Cyber Insurance 110

Cyber Insurance Insurance Ransomware Malware 110

Malwarebytes

FEBRUARY 21, 2023

Ransomware authors are wading into the cybersecurity insurance debate in a somewhat peculiar way. Specifically: urging victims to disclose details of their insurance contract , in order to tailor a ransom which will be beneficial to the company under attack. has been in circulation since sometime around November last year.

Cyber Insurance 84

Cyber Insurance Insurance Ransomware Encryption 84

Security Boulevard

FEBRUARY 24, 2021

Since the early 2000s, many companies have purchased cyber insurance to protect them when data is stolen, networks are breached, regulatory agencies levy fines, or other related incidents occur. In recent years, cyber insurance is also used to protect against increasingly popular ransomware events.

Insurance 96

Insurance Cyber Insurance Ransomware 96

Hot for Security

MAY 7, 2021

Insurance giant AXA has said that it is no longer writing cyberinsurance policies in France that cover ransom payments to extortionists. In addition, it will not affect existing policies that companies may have with the insurer. The only question then is – will your insurance company cover you for that ransom payment, or not?

Insurance 145

Insurance Ransomware Retail Cryptocurrency 145

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? isn’t it? .

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Insurance Cyber Attacks Cyber Insurance Ransomware 129

Bleeping Computer

JULY 2, 2021

Gallagher (AJG), a US-based global insurance brokerage and risk management firm, is mailing breach notification letters to potentially impacted individuals following a ransomware attack that hit its systems in late September. [.].

Insurance 140

Insurance Data breaches Ransomware Risk 140

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

Bleeping Computer

MAY 16, 2021

Branches of insurance giant AXA based in Thailand, Malaysia, Hong Kong, and the Philippines have been struck by a ransomware cyber attack. As seen by BleepingComputer yesterday, the Avaddon ransomware group claimed on their leak site that they had stolen over 3 TB of sensitive data from AXA's Asian operations. [.].

Insurance 145

Insurance Ransomware Cyber Attacks 145

Security Affairs

FEBRUARY 21, 2023

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. The HardBit ransomware group first appeared on the threat landscape in October 2022, but unlike other ransomware operations, it doesn’t use a double extortion model at this time. Very important!

Insurance 98

Insurance Ransomware Cyber Insurance Malware 98

IT Security Guru

FEBRUARY 28, 2023

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

Cyber Insurance 114

Cyber Insurance Insurance Marketing Cyber Risk 114

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks. That’s a 29.1%

Cyber Insurance 119

Cyber Insurance Insurance Marketing Small Business 119

Security Affairs

SEPTEMBER 29, 2020

Gallagher (AJG) insurance giant disclosed a ransomware attack, the security breach took place on Saturday. Gallagher (AJG) global insurance brokerage firm confirmed that it was his with a ransomware attack on Saturday, September 26. US-based Arthur J. The company is currently ranked 429 on the Fortune 500 list.

Insurance 145

Insurance Ransomware Advertising Data breaches 145

Joseph Steinberg

AUGUST 5, 2021

Understanding the difference between the two is also essential when seeking to obtain – and when acquiring – cyber-liability insurance. Likewise, if you purchase appropriate first-party insurance, your insurance policy should cover the relevant losses – as the losses are borne directly by the policyholder (your business).

Insurance 141

Insurance Risk Data breaches Artificial Intelligence 141

Security Boulevard

APRIL 25, 2024

The average cost for a company to recover from a ransomware attack is $1.82 million, according to Sophos Guide to Cyber Insurance, 2023. The post MDR Can Make an Impact on Cyber Insurance appeared first on Pondurance. The post MDR Can Make an Impact on Cyber Insurance appeared first on Security Boulevard.

Cyber Insurance 72

Cyber Insurance Insurance Ransomware Cybersecurity 72

Malwarebytes

OCTOBER 11, 2023

The Philippine Health Insurance Corporation (PhilHealth), has confirmed that it was unprotected by antivirus software when it was attacked by the Medusa ransomware group in September. EDR can detect an intruder's suspicious activity in advance of them running ransomware, as well as being able to identify the ransomware itself.

Antivirus 104

Antivirus Insurance Ransomware Healthcare 104

Security Boulevard

NOVEMBER 12, 2021

Recent ransomware attacks have dominated the headlines this year. Predictions estimate that the financial impact caused by ransomware could reach $265 billion globally by 2031. The post Are Cyber Insurers Cybersecurity’s New Enforcers? The average ransom payment made by a business to.

Cyber Insurance 145

Cyber Insurance Insurance Ransomware Cybersecurity 145