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Cyber-Insurance Fail: Most Businesses Lack Ransomware Coverage

Dark Reading

Even among businesses with cyber insurance, they lack coverage for basic costs of many cyberattacks, according to a BlackBerry survey.

Insurance 120
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Why Cyber Insurance is Essential in 2022

IT Governance

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.

Insurance 137
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How to handle a ransomware attack 

IBM Big Data Hub

It’s the news no organization wants to hear―you’ve been the victim of a ransomware attack, and now you’re wondering what to do next. Over 17 percent of all cyberattacks involve ransomware —a type of malware that keeps a victim’s data or device locked unless the victim pays the hacker a ransom.

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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. For the insurance industry, working with clients to help them tackle these challenges is vital to ensuring businesses operate in as safe an environment as possible.

Risk 189
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Cyber-insurance – 72 hours for the insured party to file a criminal complaint: GDPR’s false friend

Data Protection Report

2] In this context, the Directorate General of the French Treasury has put forward a plan of action with a view to clarifying the cyber-insurance legal framework, better gauging cyber-risks, and enhancing companies’ awareness as regards cyber-risks. 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

Insurance 105
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How to beat ransomware attackers at their own game

IT Governance

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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After Springhill: Assessing the Impact of Ransomware Lawsuits

eSecurity Planet

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.