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A Cyber Insurance Backstop

Schneier on Security

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.

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Scant evidence that cyber insurance boom is leading to better security

SC Magazine

The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI. Growing losses from ransomware attacks have…emphasized that the current reality is not sustainable for insurers either.

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Ransomware: Number One Cyber Insurance Claim

SecureWorld News

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. The number one type of cyber incident so far this year is ransomware.

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How One Company Survived a Ransomware Attack Without Paying the Ransom

eSecurity Planet

Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Also read: Top 8 Cyber Insurance Companies for 2022 Best Ransomware Removal and Recovery Services. Most had been infected. Lessons Learned.

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Conti Ransomware Group Diaries, Part III: Weaponry

Krebs on Security

. “Install EDR on every computer (for example, Sentinel, Cylance, CrowdStrike); set up more complex storage system; protect LSAS dump on all computers; have only 1 active accounts; install latest security updates; install firewall on all network.” “They are insured for cyber risks, so what are we waiting for?

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Ransomware Prevention, Detection, and Simulation

NetSpi Executives

Attempt access to file and SQL servers with privileged accounts. Hunt and destroy or encrypt backups hosted in local and cloud networks as well as virtual machine snapshots. Some can’t afford not to pay, and some are covered by cyber insurance. Protect your backup systems. Does backup protect against ransomware?

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#ISC2CONGRESS – Lessons Learned from the Baltimore Ransomware Attack

CyberSecurity Insiders

The only saving grace was that the city had invested in both on-premise and cloud backups. On the business side, the plan should address elements such as having a communication plan for the CISO, CIO and company executives as well as a risk management component that includes cyber insurance. Backup Strategy. The Attack.