Insurer Chubb Investigating 'Security Incident'

Data Breach Today

Maze Gang Claims Insurer Is a Victim, Emsisoft Reports Switzerland-based global insurance firm Chubb acknowledges that it's investigating a "security incident."

Judge Rules Insurer Must Pay for Ransomware Damage

Data Breach Today

Coverage Required Because Attack Caused 'Physical Loss or Damage' A federal judge has ruled that an insurer providing a "business owner's insurance policy" to a company that sustained a ransomware attack and was forced to replace most of its IT infrastructure must pay for the damages the security incident caused.

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Insurance Giant Chubb Might Be Ransomware Victim

Dark Reading

A ransomware operator claims to have successfully attacked Chubb Insurance databases

Ransomware and the Role of Cyber Insurance via Teach Privacy

IG Guru

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.

Do Ransomware Attackers Single Out Cyber Insurance Holders?

Data Breach Today

Security Experts Express Skepticism That Criminals Would Bother Do criminal organizations prefer to target organizations that hold cyber insurance policies? A ProPublica report suggests that because cyber insurance policyholders are more likely to pay ransoms, they're a more frequent target. But some cybersecurity experts have expressed skepticism

Cyber Insurance Changes as Threats Evolve

Data Breach Today

Ken Suh of Beazley on Assessing the Options In light of emerging cyberthreats, including ransomware, organizations must change how they assess their cyber insurance options, says Ken Suh of Beazley

Cybersecurity Insurance Not Paying for NotPetya Losses

Schneier on Security

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.

Ransomware at Colorado IT Provider Affects 100+ Dental Offices

Krebs on Security

A Colorado company that specializes in providing IT services to dental offices suffered a ransomware attack this week that is disrupting operations for more than 100 dentistry practices, KrebsOnSecurity has learned. “No help from my insurance.

New Orleans to Boost Cyber Insurance to $10M Post-Ransomware

Dark Reading

Mayor LaToya Cantrell anticipates the recent cyberattack to exceed its current $3 million cyber insurance policy

The Hidden Cost of Ransomware: Wholesale Password Theft

Krebs on Security

Organizations in the throes of cleaning up after a ransomware outbreak typically will change passwords for all user accounts that have access to any email systems, servers and desktop workstations within their network. VCPI) was hit by the Ryuk ransomware strain.

Second Florida City Pays Up Following Ransomware Attack

Data Breach Today

After Struggling With Recovery, City Negotiates a Ransom Payment A second small city in Florida is paying off cybercriminals to recover from a ransomware attack that crippled the municipality's local network. How much did Lake City agree to pay, and how much of that was covered by insurance

Maze Ransomware leaks files of ST Engineering group

Security Affairs

ST Engineering is the last victim of the Maze Ransomware operators that published their data on their leak website. The Maze ransomware operators announced the release of stolen data on their leak site. SecurityAffairs – Maze ransomware, cybersecurity).

Ransomware Bites Dental Data Backup Firm

Krebs on Security

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.

Ransomware Hits B2B Payments Firm Billtrust

Krebs on Security

Business-to-business payments provider Billtrust is still recovering from a ransomware attack that began last week. “Out of an abundance of caution, we cannot disclose the precise ransomware strains but will do so as soon as prudently possible.

B2B 154

Ransomware Keeps Ringing in Profits for Cybercrime Rings

Data Breach Today

SamSam, Dharma, GandCrab and Global Imposter Make for Ongoing Bitcoin Paydays Criminals wielding crypto-locking ransomware - especially Dharma/CrySiS, GandCrab and Global Imposter, but also SamSam - continue to attack.

GUEST ESSAY: Cyber insurance 101 — for any business operating in today’s digital environment

The Last Watchdog

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities. Meanwhile, credential-stuffing attacks have a potential cost of at least $5 billion a year, while ransomware can set companies back around $8 billion.

Sodinokibi ransomware operators leak files stolen from Elexon electrical middleman

Security Affairs

The REvil/Sodinokibi ransomware operators have leaked the files allegedly stolen from the UK power grid middleman Elexon. In May Elexon , a middleman in the UK power grid network, was the victim of a cyber attack, its systems have been infected with the Sodinokibi ransomware.

SeaChange video delivery software solutions provider hit by Sodinokibi ransomware

Security Affairs

The popular SeaChange video platform is the latest victim of the Sodinokibi Ransomware gang, which is threatening to leak the stolen data. SeaChange International, the multinational supplier of video delivery software solutions, was the victim of the Sodinokibi Ransomware gang.

Ransomware Increasingly Targeting Small Governments

Dark Reading

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

Ransomware infected systems at Xchanging, a DXC subsidiary

Security Affairs

Systems at Xchanging, a subsidiary of Global IT services and solutions provider DXC Technology was hit by ransomware over the weekend. Global IT services and solutions provider DXC Technology disclosed a ransomware attack that infected systems at its Xchanging subsidiary.

Maze ransomware gang discloses data from drug testing firm HMR

Security Affairs

On March 21, the Maze ransomware operators published some of the stolen files on their “leak site,” after the refusal of the research firm of paying the ransom. SecurityAffairs – Maze ransomware, Coronavirus).

Maze Ransomware operators claim to have stolen millions of credit cards from Banco BCR

Security Affairs

Maze Ransomware operators claim to have gained access to the network of Banco BCR of Costa Rica and stolen 11 million credit card credentials. The post Maze Ransomware operators claim to have stolen millions of credit cards from Banco BCR appeared first on Security Affairs.

Spotlight Podcast: QOMPLX CISO Andy Jaquith on COVID, Ransomware and Resilience

The Security Ledger

We also talk about how better instrumenting of information security can help companies get a grip on fast-evolving cyber risks like human-directed ransomware campaigns. Ransomware’s Dangerous Rise.

Maze Ransomware gang breached the US chipmaker MaxLinear

Security Affairs

system-on-chip maker MaxLinear disclosed a security incident, Maze ransomware operators infected some of its computing systems in May. “We carry cybersecurity insurance, subject to applicable deductibles and policy limits. SecurityAffairs – MaxLinear, Maze ransomware).

Healthcare giant Magellan Health discloses data breach after ransomware attack

Security Affairs

Magellan Health, a for-profit managed health care and insurance firm, was the victim of a ransomware attack. Magellan Health is a for-profit managed health care and insurance firm that ranks 417 on the Fortune 500 list of the largest US corporations by total revenue.

Insurance Pays Out a Sliver of Norsk Hydro’s Cyberattack Damages

Threatpost

million in cyber insurance - out of $71 million incurred in damages after a massive March cyberattack. Hacks Cyber Insurance cyberattack industrial cyberattack LockerGoga malware norsk hydro ransomwareThe company received $3.6

City of Florence to Pay $300,000 Ransom after ransomware attack

Security Affairs

Florence City in Alabama will pay a $300,000 ransom worth of Bitcoins after its computer system was infected with a ransomware. The payment will me made using the city’s insurance fund in an effort to preserve information of city workers and customers and quickly resume operations. “It

Albany County Airport authority hit by a ransomware attack

Security Affairs

Officials at the Albany County Airport Authority revealed that New York airport servers were infected with ransomware on Christmas. According to the experts, the ransomware encrypted files on the authority’s servers and its backup servers. SecurityAffairs – ransomware, airport).

Think Ransomware Can’t Put You Out of Business?

Adam Levin

We’re not even halfway through 2020, and already it’s been a record-breaking year for ransomware attacks. Millions of inboxes have been hit with a variant of Avaddon ransomware. Know the risks, get help if you need it, get insured, and take it seriously.

Currency Exchange Company Travelex Hit By Ransomware Attack

Adam Levin

Currency exchange giant Travelex has effectively been taken offline by a ransomware attack. . The hackers claim to have six months’ worth of sensitive customer data containing birthdates, credit card information, and insurance numbers.

Ransomware, Mobile Malware Attacks to Surge in 2020

Threatpost

Targeted ransomware, mobile malware and other attacks will surge, while companies will adopt AI, better cloud security and cyber insurance to help defend and protect against them.

NotPetya Victim Mondelez Sues Zurich Insurance for $100 Million

Dark Reading

Mondelez files lawsuit after Zurich rejects claim for damages from massive ransomware attack

How to make sure your cyber insurance policy pays out

IT Governance

Cyber insurance is big business these days. Find out how a ransomware victim used cyber insurance to guide its response effort >> A cyber insurance policy doesn’t necessarily guarantee that you will receive aid following a data breach.

Alabama Hospital chain paid ransom to resume operations after ransomware attack

Security Affairs

An Alabama hospital chain announced to have restored normal operation after paying the ransom request by crooks that infected its systems with ransomware. A hospital chain in west Alabama was recently hit by a ransomware attack that paralyzed its systems.

MY TAKE: A primer on how ransomware arose to the become an enduring scourge

The Last Watchdog

Stunning as these two high-profile attacks were, they do not begin to convey the full scope of what a pervasive and destructive phenomenon ransomware has become – to individuals, to companies of all sizes and, lately, to poorly defended local agencies. “All we know is MONEY! Hurry up!

Insurance Customers’ Personal Data Exposed Due to Misconfigured NAS Server

Threatpost

The vulnerability also exposed login credentials for a massive national insurance claims database, Upguard says. Cloud Security Privacy Vulnerabilities Web Security NAS server ransomware UpGuard WannaCry

Maryland Court Finds Coverage for Lost Data and Slow Computers After Ransomware Attack

Hunton Privacy

As previously posted on our Hunton Insurance Recovery blog , a Maryland federal court awarded summary judgment to policyholder National Ink in National Ink and Stitch, LLC v. State Auto Property and Casualty Insurance Company , finding coverage for a cyber attack under a non-cyber insurance policy after the insured’s server and networked computer system were damaged as a result of a ransomware attack.

Hackers Cashing In On Healthcare Industry Security Weaknesses

Threatpost

Between ransomware attacks on healthcare devices, malware-laced “medical” apps, and fraud services available on the dark net, attackers are pushing the boundaries on targeting healthcare.

Largest hospital system in New Jersey was hit by ransomware attack

Security Affairs

The largest hospital in New Jersey announced on Friday that a ransomware attack last week disrupted its network and that it paid a ransom. At the time there are no details about the family of ransomware the infected the system or the way attackers breached the network of the hospital.

Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats

The Security Ledger

In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. Part I: not ransom…ransomware! The insurance was dirt cheap.