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Merck settles with insurers regarding a $1.4 billion claim over NotPetya damages

Security Affairs

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 billion insurance claim for the losses caused by the NotPetya attack that took place in 2017. Merck had not taken out specific insurance to cover cyber attacks, it only had insurance coverage against general risks.

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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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What is a Cyberattack? Types and Defenses

eSecurity Planet

Cyber criminals may damage, destroy, steal, encrypt, expose, or leak data as well as cause harm to a system. Encrypted threats spiked 167%, ransomware increased 105%, and 5.4 In May, cybersecurity researchers revealed that ransomware attacks are increasing their aggressive approach by destroying data instead of encrypting it.

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Best Ransomware Removal and Recovery Services

eSecurity Planet

Here are the services that stood out in our analysis. The focus is on recovering deleted and encrypted files as quickly as possible. Determines the initial vector of infection, where your current data backups are, and the sensitivity of encrypted files. Data is recovered remotely or returned on encrypted media.

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How to handle a ransomware attack 

IBM Big Data Hub

The photo will expedite the recovery process and help when filing a police report or a possible claim with your insurance company. Hackers know this might be your first instinct, and some types of ransomware notice restart attempts and cause additional harm, like damaging Windows or deleting encrypted files.

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What Is Encryption? Definition, How it Works, & Examples

eSecurity Planet

Encryption uses mathematical algorithms to transform and encode data so that only authorized parties can access it. What Encryption Is and How It Relates to Cryptology The science of cryptography studies codes, how to create them, and how to solve them. How Does Encryption Process Data? How Does Encryption Process Data?

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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

His news analysis columns, podcasts, and videos are crafted to foster a useful understanding of complex privacy and cybersecurity developments for company decision-makers and individual citizens — for the greater good. Erin: Do you think cyber insurance should play a bigger role in companies’ cybersecurity strategies?