IT Governance

MAY 24, 2022

One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. These activities aren’t typically included in standard business insurance policies, which tend to only cover costs related to technical issues, such as corrupted hard drives and lost devices. million) to respond to a ransomware attack.

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eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

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IG Guru

MAY 21, 2021

“The word to get out today is that, regarding ransomware, we don’t pay and we won’t pay,” cybercrime prosecutor Johanna Brousse said at the hearing. The post Insurer AXA to Stop Paying for Ransomware Crime Payments in France via Insurance Journal appeared first on IG GURU. Only the U.S. Only the U.S.

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Dark Reading

MARCH 11, 2020

To get back up and running quickly, and because it's cheaper, city and county governments often pay the ransom, especially if insurance companies are footing the bill. The result: More ransomware.

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IT Governance

AUGUST 23, 2022

Cyber liability insurance helps organisations cover the financial costs of a data breach. Without insurance, organisations spend £3.6 By purchasing cyber liability insurance, organisations gain the resources they need at a fraction of the cost. What does cyber insurance include? First-party vs third-party insurance.

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Krebs on Security

AUGUST 29, 2019

PerCSoft , a Wisconsin-based company that manages a remote data backup service relied upon by hundreds of dental offices across the country, is struggling to restore access to client systems after falling victim to a ransomware attack. The ransomware attack hit PerCSoft on the morning of Monday, Aug. West Allis, Wis.-based

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Security Affairs

FEBRUARY 28, 2024

healthcare organizations of targeted ALPHV/Blackcat ransomware attacks. healthcare organizations of targeted attacks conducted by ALPHV/Blackcat ransomware attacks. The advisory updates to the FBI FLASH BlackCat/ALPHV Ransomware Indicators of Compromise released on April 19, 2022 and on December 19, 2023.

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KnowBe4

MAY 22, 2023

Food for thought as discussed on May 18, 2023, an article posted in The Australian Insurance Council: Banning paying a ransom to cyber hackers is counter-productive where Andrew Hall, the Chief Executive of the Insurance Council of Australia (ICA), stated that “attempts to ban businesses from paying ransoms for cyber attacks risks eroding trust and (..)

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IT Governance

AUGUST 25, 2022

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

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Security Affairs

DECEMBER 9, 2023

Kentucky health system Norton Healthcare disclosed a data breach after it was a victim of a ransomware attack in May. Norton Healthcare disclosed a data breach after a ransomware attack that hit the organization on May 9, 2023. The security breach exposed personal information belonging to patients, employees, and dependents.

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Security Affairs

FEBRUARY 27, 2024

A BlackCat ransomware attack hit UnitedHealth Group subsidiary Optum causing an outage impacting the Change Healthcare payment exchange platform. A ransomware attack hit the UnitedHealth Group subsidiary Optum leading to an outage impacting the Change Healthcare payment exchange platform. ” reads the Reuters.

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IT Governance

OCTOBER 15, 2020

That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? What is cyber insurance? How does cyber insurance work? What does a cyber insurance policy cover? Who needs cyber insurance?

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Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. I recently spoke with Neira Jones and Danna Bethlehem about how cybersecurity insurance can work to help an organization. regulations.

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Security Affairs

OCTOBER 1, 2023

Bleeping Computer last week reported that Johnson Controls International has suffered a ransomware attack that impacted many systems of the company. Threat actors initially breached the systems at Asia offices, the ransomware also targeted the VMware ESXi servers. reported Bleeping Computer. ” reads the article published by CNN.

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Security Affairs

MAY 29, 2023

MCNA Dental is one of the largest US dental care and oral health insurance providers. The security breach exposed the personal information of current or former provider of dental/orthodontic care to members of certain state Medicaid and Children’s Health Insurance Programs, for which MCNA provides dental benefits and services.

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IG Guru

APRIL 16, 2020

Professor Daneil Solove interviews Kimberly Horn about Cyber Insurance and Ransomeware here. The post Ransomware and the Role of Cyber Insurance via Teach Privacy appeared first on IG GURU.

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eSecurity Planet

OCTOBER 18, 2021

A lawsuit working its way through the courts could have a lot to say about the liabilities facing organizations that have been hit by ransomware attacks – and could have implications for cybersecurity preparation and regulation in general. Hospital’s Operations Hit by Ransomware. ” Cyber Insurance No Longer Reliable.

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eSecurity Planet

OCTOBER 5, 2021

Malware has been around for nearly 40 years, longer even than the World Wide Web, but ransomware is a different kind of threat, capable of crippling a company and damaging or destroying its critical data. Ransomware Protection and Recovery Steps. Ransomware removal tools. Ransomware recovery services. Data backup.

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Security Affairs

SEPTEMBER 23, 2023

The City of Dallas revealed that the Royal ransomware gang that hit the city system in May used a stolen account. In May 2023, a ransomware attack hit the IT systems at the City of Dallas , Texas. CBS News Texas obtained an image the ransomware note dropped by the malware on the infected systems. ” continues the report.

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IT Governance

OCTOBER 4, 2021

Ransomware – malware that aims to prevent victims from accessing their data unless they pay their attackers – seems to be in the news more than ever before. Sophos’s most recent annual ransomware survey, The State of Ransomware 2021 , found that 37% of organisations surveyed in 2021 had been affected by ransomware in the previous year.

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Security Affairs

AUGUST 17, 2021

Colonial Pipeline discloses a data breach of the personal information of thousands of individuals after the ransomware attack that took place in May 2021. Colonial Pipeline has started notifying more than 5000 people that had their personal information compromised after a ransomware attack that took place in May. Source WSJ.

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Data Matters

FEBRUARY 10, 2021

2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. Background.

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eSecurity Planet

FEBRUARY 16, 2021

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. A ransomware attack is about as bad as a cyber attack can get. Jump to: What is ransomware? How ransomware works. Preventing ransomware. Ransomware attacks and costs.

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Thales Cloud Protection & Licensing

FEBRUARY 15, 2023

The Pain of Double Extortion Ransomware divya Thu, 02/16/2023 - 06:10 Ransomware perpetrators are adopting more sophisticated attack techniques with much success. Ransomware attacks have become much more dangerous and have evolved beyond basic security defenses and business continuity techniques like next-gen antivirus and backups.

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Schneier on Security

MARCH 8, 2019

This will complicate things: To complicate matters, having cyber insurance might not cover everyone's losses. Zurich American Insurance Company refused to pay out a $100 million claim from Mondelez, saying that since the U.S.

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Security Affairs

JULY 8, 2019

Government computer systems at La Porte County, Indiana, were shut down after a cyber attack hit them on July 6. Experts believe it was a ransomware attack. On July 6, a cyber attack brought down government computer systems atLa Porte County, Indiana. Copyright (C) 2014-2015 Media.net Advertising FZ-LLC All Rights Reserved -->.

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Hunton Privacy

FEBRUARY 25, 2021

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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Security Affairs

AUGUST 11, 2022

The Conti ransomware gang is using BazarCall phishing attacks as an initial attack vector to access targeted networks. BazarCall attack, aka call back phishing, is an attack vector that utilizes targeted phishing methodology and was first used by the Ryuk ransomware gang in 2020/2021. ” concludes the report published by Advintel.

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Ransomware Phishing Insurance Access 76

IT Governance

AUGUST 12, 2020

Travelex has collapsed into administration seven months after it was crippled by ransomware. It was later reported that the REvil ransomware gang encrypted more than 5GB of sensitive data and demanded $6 million (about £4.6 Ransomware is one of the biggest threats facing businesses, so everyone must plan for an inevitable attack.

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IT Governance

NOVEMBER 17, 2022

The Australian health insurance giant fell victim to ransomware in October, as a result of which the personal data of 9.7 The attack, which occurred after a cyber criminal exposed the login credentials of a high-level employee, led to two separate leaks on a dark web site operated by the ransomware group REvil.

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Hunton Privacy

JULY 1, 2022

(“Carnival”), the world’s largest cruise-ship operator, for violations of the Cybersecurity Regulation (23 NYCRR Part 500) in connection with four cybersecurity events between 2019 and 2021, including two ransomware events. .

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IT Governance

NOVEMBER 1, 2022

If you’re facing a cyber security disaster, IT Governance is here to help. Ransomware. Our Cyber Incident Response service provides the help you need to deal with the threat, as our experts guide you through the recovery process. Learn more.

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Krebs on Security

OCTOBER 28, 2020

In March 2020, KrebsOnSecurity alerted Swedish security giant Gunnebo Group that hackers had broken into its network and sold the access to a criminal group which specializes in deploying ransomware. Reached by phone today, Jansson said he quit the company in August, right around the time Gunnebo disclosed the thwarted ransomware attack.

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IT Governance

JULY 15, 2019

Cyber insurance is big business these days. Damages incurred by information security incidents generally aren’t covered in commercial insurance policies, so a specific policy is necessary to help cover the costs of things like forensic investigation, incident response and notification procedures. Conduct regular vulnerability scans.

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Insurance Data breaches Risk Information Security 89

eSecurity Planet

SEPTEMBER 10, 2021

In a year where ransomware has raised the alert levels everywhere, the go-to answer from many is redundancy through offline, remote backups – but are they enough? As ransomware threats loom, we look at where backups fall short, and what to keep in mind to optimize network and data security. Where Backups Fall Short Against Ransomware.

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IT Governance

JULY 11, 2019

That’s a question more organisations are having to ask themselves nowadays, with at least 55 ransomware attacks reported in the first half of 2019. Identify that the attack is ransomware. Don’t assume that the person who has spotted the attack knows that it’s ransomware. See also: How does ransomware infect your systems?

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Hunton Privacy

SEPTEMBER 22, 2021

Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments (the “Updated Advisory”) on the sanctions risks associated with facilitating ransomware payments. government agencies as soon as possible. Thus, OFAC may hold a U.S.

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Ransomware Risk Compliance Insurance 101