Expert insights. Personalized for you.
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. MORE
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. I get that $100 million is real money, but the insurance industry needs to figure out how to properly insure commercial networks against this sort of thing. cybersecurity hacking insurance malware ransomware russia war MORE
Vishaal Hariprasad Also Address How Ransomware Is Changing Security On Aug. 25, President Joe Biden invited about 25 technology, insurance, finance and education executives to the White House to discuss pressing cybersecurity issues such as supply chain and critical infrastructure. MORE
While major carriers like AXA have backed away from covering ransoms, don't expect the industry at large to break the vicious cycle. Security Security / Security News MORE
The US insurance giant CNA Financial reportedly paid a $40 million ransom to restore access to its files following a ransomware attack. The insurance company will not comment on the ransom. Recently another insurance firm, AXA , was the victim of a ransomware attack. MORE
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 MORE
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. MORE
“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. MORE
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 MORE
based insurance firm One Call says its systems were disrupted by a ransomware attack May 13 and it's still working to restore them. Local Newspaper Says DarkSide Gang Suspected to Be Involved The U.K.-based MORE
From limiting claims payments to tying payments to policyholders' actions, the cyber insurance industry is in "a very dynamic place right now," says Corvus Insurance CEO Phil Edmundson MORE
GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office MORE
Provide your views on ransomware and how to deal with it in our anonymous Threatpost poll. Breach Cloud Security Malware Vulnerabilities Cyber Insurance Cybersecurity Healthcare poll ransomware MORE
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. MORE
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. MORE
Premiums have gone up by 7% on average for small firms and between 10% and 40% for medium and large businesses MORE
Some of the world’s top tech firms are backing a new industry task force focused on disrupting cybercriminal ransomware gangs by limiting their ability to get paid, and targeting the individuals and finances of the organized thieves behind these crimes. MORE
Ransomware response demands a whole-of-business plan before the next attack, according to our roundtable of experts. MORE
Colonial Pipeline discloses a data breach of the personal information of thousands of individuals after the ransomware attack that took place in May 2021. The attack was orchestrated by the Darkside ransomware operators, the facility paid a $5 million ransom to recover stolen information. MORE
Expect to See Extortion and Social Engineering Attacks Excluded From More Policies Are insurers getting cold feet over covering losses to ransomware? MORE
Companies relying on their cyber-insurance policies to pay off ransomware criminals are being blamed for a recent uptick in ransomware attacks. MORE
The incident, which forced the company to disconnect its systems, caused significant business disruption. Malware Web Security MORE
The personal information of thousands of Israeli citizens has been compromised as the result of a cyberattack on Shirbit, a leading insurance company. . The post Major Israeli Insurance Company Hacked appeared first on Adam Levin. MORE
PrismHR , a company that sells technology used by other firms to help more than 80,000 small businesses manage payroll, benefits, and human resources, has suffered what appears to be an ongoing ransomware attack that is disrupting many of its services. MORE
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? Who needs cyber insurance? MORE
A global insurance carrier refuses to write new ransomware policies in France, while insurers rewrite policies. Are we heading toward a day when ransomware incidents become uninsurable MORE
NASDAQ:RCM ], one of the nation’s largest medical debt collection companies, has been hit in a ransomware attack. R1 RCM acknowledged taking down its systems in response to a ransomware attack, but otherwise declined to comment for this story. R1 RCM Inc. MORE
Also: Debating the Issue of Banning Ransom Payments In this week's panel discussion, four editors at Information Security Media Group discuss cyber insurance, persistent ransomware attacks and whether ransom payments should be banned MORE
Companies victimized by ransomware and firms that facilitate negotiations with ransomware extortionists could face steep fines from the U.S. “In my experience, OFAC and cyber insurance with their contracted negotiators are in constant communication,” he said. MORE
Avaddon Ransomware Gang Claims Responsibility Asia Assistance, a subsidiary of Paris-based multinational insurance company AXA, was hit by a ransomware attack that affected its IT operations in Thailand, Malaysia, Hong Kong and the Philippines, the company reports MORE
With ransomware on the rise, more organizations are opting to purchase cyber insurance -- tipping off criminals about how much to demand for access back to pilfered systems and data MORE
Banning Ransom Payments and Unleashing Offensive Hacking Teams Being Mooted With ransomware continuing to fuel a massive surge in illicit profits, some experts have been calling on governments to launch offensive hacking teams to target cybercrime cartels. MORE
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. MORE
Key Factors: Negotiating Lower Ransoms, Improving Recovery Cyber insurance provider Coalition Inc. says its clients' average claims for losses when they were hit by a ransomware attack totaled $184,000 in the first half of this year, down 45% compared to the second half of 2020. MORE
But insurance may cover much of the cost MORE
So Far, Insurance Has Paid $3.6 million from its cyber insurer to cover expenses related to the LockerGoga ransomware attack it suffered in March that led to losses of $50 million to $71 million, the company revealed in its third quarter report Million, But More Anticipated So far, Norweigan aluminum company Norsk Hydro has received just $3.6 MORE
As ransomware becomes more common, I’m seeing more discussions about the ethics of paying the ransom. Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. MORE
Firm Says Singapore Unit Was Targeted Tokio Marine, a Japan-based property and casualty insurer, says its Tokio Marine Insurance Singapore unit was hit by a ransomware attack this week MORE
Maze Gang Claims Insurer Is a Victim, Emsisoft Reports Switzerland-based global insurance firm Chubb acknowledges that it's investigating a "security incident." MORE
Data Breach Today
AUGUST 20, 2021
Firm Says Singapore Unit Was Targeted Tokio Marine, a Japan-based property and casualty insurer, says its Tokio Marine Insurance Singapore unit was hit by a ransomware attack this week
Schneier on Security
JULY 1, 2021
As ransomware becomes more common, I’m seeing more discussions about the ethics of paying the ransom. Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Data Breach Today
MAY 28, 2021
Also: Debating the Issue of Banning Ransom Payments In this week's panel discussion, four editors at Information Security Media Group discuss cyber insurance, persistent ransomware attacks and whether ransom payments should be banned
Data Breach Today
JULY 29, 2021
Key Factors: Negotiating Lower Ransoms, Improving Recovery Cyber insurance provider Coalition Inc. says its clients' average claims for losses when they were hit by a ransomware attack totaled $184,000 in the first half of this year, down 45% compared to the second half of 2020.
Data Breach Today
MAY 25, 2021
based insurance firm One Call says its systems were disrupted by a ransomware attack May 13 and it's still working to restore them. Local Newspaper Says DarkSide Gang Suspected to Be Involved The U.K.-based
Data Breach Today
MAY 17, 2021
Avaddon Ransomware Gang Claims Responsibility Asia Assistance, a subsidiary of Paris-based multinational insurance company AXA, was hit by a ransomware attack that affected its IT operations in Thailand, Malaysia, Hong Kong and the Philippines, the company reports
Data Breach Today
MARCH 27, 2020
Maze Gang Claims Insurer Is a Victim, Emsisoft Reports Switzerland-based global insurance firm Chubb acknowledges that it's investigating a "security incident."
Data Breach Today
MAY 24, 2021
GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office
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.
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.
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.
|
Data Breach Today
SEPTEMBER 8, 2021
Vishaal Hariprasad Also Address How Ransomware Is Changing Security On Aug. 25, President Joe Biden invited about 25 technology, insurance, finance and education executives to the White House to discuss pressing cybersecurity issues such as supply chain and critical infrastructure.
Dark Reading
MAY 24, 2021
A global insurance carrier refuses to write new ransomware policies in France, while insurers rewrite policies. Are we heading toward a day when ransomware incidents become uninsurable
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.
Data Breach Today
JANUARY 31, 2020
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.
Dark Reading
MAY 26, 2021
From limiting claims payments to tying payments to policyholders' actions, the cyber insurance industry is in "a very dynamic place right now," says Corvus Insurance CEO Phil Edmundson
Data Breach Today
SEPTEMBER 3, 2019
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
Krebs on Security
APRIL 29, 2021
Some of the world’s top tech firms are backing a new industry task force focused on disrupting cybercriminal ransomware gangs by limiting their ability to get paid, and targeting the individuals and finances of the organized thieves behind these crimes.
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.
Data Breach Today
AUGUST 27, 2019
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
Krebs on Security
AUGUST 14, 2020
NASDAQ:RCM ], one of the nation’s largest medical debt collection companies, has been hit in a ransomware attack. R1 RCM acknowledged taking down its systems in response to a ransomware attack, but otherwise declined to comment for this story. R1 RCM Inc.
Dark Reading
MARCH 26, 2020
A ransomware operator claims to have successfully attacked Chubb Insurance databases
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.
Data Breach Today
JANUARY 27, 2021
Banning Ransom Payments and Unleashing Offensive Hacking Teams Being Mooted With ransomware continuing to fuel a massive surge in illicit profits, some experts have been calling on governments to launch offensive hacking teams to target cybercrime cartels.
Data Breach Today
MARCH 2, 2021
But insurance may cover much of the cost
WIRED Threat Level
JUNE 12, 2021
While major carriers like AXA have backed away from covering ransoms, don't expect the industry at large to break the vicious cycle. Security Security / Security News
Security Affairs
MAY 21, 2021
The US insurance giant CNA Financial reportedly paid a $40 million ransom to restore access to its files following a ransomware attack. The insurance company will not comment on the ransom. Recently another insurance firm, AXA , was the victim of a ransomware attack.
Adam Levin
DECEMBER 8, 2020
The personal information of thousands of Israeli citizens has been compromised as the result of a cyberattack on Shirbit, a leading insurance company. . The post Major Israeli Insurance Company Hacked appeared first on Adam Levin.
Dark Reading
JUNE 29, 2021
Premiums have gone up by 7% on average for small firms and between 10% and 40% for medium and large businesses
Krebs on Security
OCTOBER 1, 2020
Companies victimized by ransomware and firms that facilitate negotiations with ransomware extortionists could face steep fines from the U.S. “In my experience, OFAC and cyber insurance with their contracted negotiators are in constant communication,” he said.
Krebs on Security
MARCH 2, 2021
PrismHR , a company that sells technology used by other firms to help more than 80,000 small businesses manage payroll, benefits, and human resources, has suffered what appears to be an ongoing ransomware attack that is disrupting many of its services.
Data Breach Today
NOVEMBER 4, 2019
So Far, Insurance Has Paid $3.6 million from its cyber insurer to cover expenses related to the LockerGoga ransomware attack it suffered in March that led to losses of $50 million to $71 million, the company revealed in its third quarter report Million, But More Anticipated So far, Norweigan aluminum company Norsk Hydro has received just $3.6
Dark Reading
NOVEMBER 10, 2020
With ransomware on the rise, more organizations are opting to purchase cyber insurance -- tipping off criminals about how much to demand for access back to pilfered systems and data
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. I get that $100 million is real money, but the insurance industry needs to figure out how to properly insure commercial networks against this sort of thing. cybersecurity hacking insurance malware ransomware russia war
Threatpost
DECEMBER 31, 2020
Ransomware response demands a whole-of-business plan before the next attack, according to our roundtable of experts.
Threatpost
JANUARY 7, 2021
Provide your views on ransomware and how to deal with it in our anonymous Threatpost poll. Breach Cloud Security Malware Vulnerabilities Cyber Insurance Cybersecurity Healthcare poll ransomware
Threatpost
MARCH 26, 2021
The incident, which forced the company to disconnect its systems, caused significant business disruption. Malware Web Security
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. The attack was orchestrated by the Darkside ransomware operators, the facility paid a $5 million ransom to recover stolen information.
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? Who needs cyber insurance?
151 
Let's personalize your content