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News alert: Beazley reports on how AI, new tech distract businesses as cyber risk intensifies

The Last Watchdog

London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. trillion by 2025, a 300% increase since 2015 1. Beazley’s underwriters in the United States focus on writing a range of specialist insurance products.

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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.

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Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges

Security Affairs

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?

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VF Corp December data breach impacts 35 million customers

Security Affairs

In 2015, the company controlled 55% of the U.S. backpack market with the JanSport, Dickies, Eastpak, Timberland, Smartwool, Vans, and The North Face brands. “VF will be seeking reimbursement of costs, expenses and losses stemming from the cyber incident by submitting claims to VF’s cybersecurity insurers.

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A Serial Tech Investment Scammer Takes Up Coding?

Krebs on Security

John Clifton Davies , a 60-year-old con man from the United Kingdom who fled the country in 2015 before being sentenced to 12 years in prison for fraud, has enjoyed a successful life abroad swindling technology startups by pretending to be a billionaire investor. that was part of John Davies’ 2015 fraud conviction.

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Ask Fitis, the Bear: Real Crooks Sign Their Malware

Krebs on Security

This post is a deep dive on “ Megatraffer ,” a veteran Russian hacker who has practically cornered the underground market for malware focused code-signing certificates since 2015. One of Megatraffer’s ads on an English-language cybercrime forum. Fitis’s Himba affiliate program, circa February 2014.

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RaidForums Gets Raided, Alleged Admin Arrested

Krebs on Security

Department of Justice (DOJ) said today it seized the website and user database for RaidForums , an extremely popular English-language cybercrime forum that sold access to more than 10 billion consumer records stolen in some of the world’s largest data breaches since 2015.

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