SecureWorld News

APRIL 17, 2023

When considering adding a cyber insurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Compliance: Certain industries and jurisdictions require organizations to have cyber insurance or to meet certain cybersecurity standards.

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Cyber Insurance Insurance Risk CISO 100

SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

Insurance 113

Insurance Cyber Insurance Ransomware InfoSec 113

Security Affairs

FEBRUARY 28, 2024

Pharmaceutical giant Cencora suffered a cyber attack and threat actors stole data from its infrastructure. Pharmaceutical giant Cencora disclosed a data breach after it was the victim of a cyberattack. The company did not provide details about the attack, it’s unclear if Cencora was hit by a ransomware attack.

Data breaches 92

Data breaches Healthcare Insurance Ransomware 92

Malwarebytes

NOVEMBER 13, 2023

The US State of Maine says it has suffered a data breach impacting around 1.3 This vulnerability is known to be used by the Cl0p ransomware gang. The type of stolen data varies from person to person, likely because the data breach affected multiple agencies in the State. million people.

Data breaches 114

Data breaches Identity Theft Insurance Education 114

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 As the number and severity of data breaches continues to rise, organizations are recognizing that those costs are not theoretical. Cyber Insurance is Booming.

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Cyber Insurance Insurance Marketing Small Business 119

The Last Watchdog

JANUARY 20, 2020

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.

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Cyber Insurance Insurance Data breaches Risk 222

The Hacker News

NOVEMBER 9, 2022

The rise in the costs of data breaches, ransomware, and other cyber attacks leads to rising cyber insurance premiums and more limited cyber insurance coverage. This cyber insurance situation increases risks for organizations struggling to find coverage or facing steep increases.

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Cyber Insurance Insurance Data breaches Cyber Attacks 77

CyberSecurity Insiders

JUNE 5, 2023

MOVEit produced by Progress Software is taking all precautions to mitigate the risks associat-ed with the incident and has informed the staff of Zellis on how to neutralize the effects of the cyber-attack. CLOP Ransomware hasn’t reacted to the news yet, nor did it publish any stolen details onto the dark web.

Data breaches 122

Data breaches Cybersecurity Insurance Ransomware 122

IT Security Guru

FEBRUARY 28, 2023

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

Cyber Insurance 103

Cyber Insurance Insurance Marketing Cyber Risk 103

Security Boulevard

NOVEMBER 18, 2021

There seems to be a pattern in data breach and other cyberattack cases: After a breach, a company turns to its insurer for coverage. But often, even if they have paid for what they believe to be comprehensive cybersecurity risk insurance, the insurer refuses to pay the claim.

Insurance 113

Insurance Ransomware Data breaches Risk 113

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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Cyber Insurance Insurance Cyber Attacks Ransomware 128

Centraleyes

APRIL 9, 2024

According to IBM’s recently released “Cost of a Data Breach” statistics report, the average financial toll of a data breach has surged to an unprecedented $4.45 Regional Disparities in Data Breach Costs The United States emerges with a significantly higher average cost of $9.4

Data breaches 52

Data breaches Cyber Insurance Insurance Ransomware 52

Identity IQ

DECEMBER 20, 2023

2023: A Year of Record-Breaking Data Breaches IdentityIQ This past year has been an eye-opening year in the realm of digital security. Data breaches reached an all-time high, leaving a trail of identity theft cases. Breaches cripple businesses, harming their reputations as well as their finances.

Data breaches 72

Data breaches Identity Theft Cybercrime Social Engineering 72

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With businesses becoming more and more digitized, they are exposed to greater cyber risks. Cyber risk insurance covers the costs of recovering from a security breach, a virus, or a cyber-attack.

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Cyber Insurance Insurance Cyber Risk Authentication 77

Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. For many years, organizations had limited options for addressing data protection risks. A company could never eliminate risk, but they could try to reduce or mitigate it. The function of cybersecurity insurance. What does cybersecurity insurance cover?

Insurance 71

Insurance Cybersecurity Risk Data breaches 71

SC Magazine

JUNE 28, 2021

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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Cyber Insurance Insurance Ransomware Marketing 136

SC Magazine

JULY 6, 2021

million patients affected by a data breach. Insurance giant Dominion National reached a $2 million settlement with the 2.9 million patients affected by its nine-year data breach, first reported in 2019. Dominion is a health plan administrator, as well as an insurer of dental and vision benefits.

Data breaches 125

Data breaches Insurance Identity Theft Healthcare 125

CyberSecurity Insiders

JUNE 3, 2022

Healthcare providers are opting to pay a ransom in the event of ransomware attacks, instead of recovering it from data backups. The reason is as it is easy and guarantees 100% encrypted data return- Of course, as per their perspective!

Healthcare 120

Healthcare Ransomware Insurance Backups 120

Security Boulevard

MARCH 10, 2023

The post ‘Extraordinary, Egregious’ Data Breach at House and Senate appeared first on Security Boulevard. Capitol Trouble: Senators, representatives and staffers suffer PII leak. Could it finally kickstart some action?

Data breaches 131

Data breaches Social Engineering Insurance CISO 131

Security Affairs

NOVEMBER 17, 2023

Toyota Financial Services discloses unauthorized activity on systems after the Medusa ransomware gang claimed to have hacked the company. We took certain systems offline to investigate this activity and to reduce risk, and have also begun working with law enforcement.” The company has yet to disclose a data breach.

Financial Services 121

Financial Services Hacking Ransomware Data breaches 121

CyberSecurity Insiders

MAY 15, 2023

A new ransomware group dubbed RA Group has been hitting the news headlines for the past two weeks. Currently, it appears that the attackers are primarily focusing on companies in manufacturing, wealth management, insurance, and pharmaceuticals sectors. It concerns a ransomware operation operating under the same name.

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Ransomware Insurance Social Engineering Manufacturing 100

SC Magazine

MAY 24, 2021

In a report released May 20, the Government Accountability Office looked at how the private cybersecurity insurance market has developed over the past five yearsRich Baich is global chief information security officer for insurance giant AIG. Photo by Spencer Platt/Getty Images).

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Cyber Insurance Insurance Marketing Cyber Risk 94

SC Magazine

JULY 13, 2021

million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 The Fortified Health report is meant to support health care covered entities in light of the ongoing threats and the rise in data breach numbers. More than 22.8

Data breaches 113

Data breaches Insurance Healthcare Education 113

BH Consulting

JUNE 22, 2021

Organisations are coming under increasing pressure to take out cybersecurity insurance cover. Also known as cyber risk insurance, it’s now a prerequisite in some public sector tenders. Sometimes, contracts or proposals ask suppliers for both cybersecurity insurance and documented security controls.

Insurance 83

Insurance Cybersecurity Cyber Insurance Cyber Risk 83

SC Magazine

MARCH 24, 2021

Insurance firm CNA Financial, a prominent provider of cyber insurance, confirmed a cyberattack against its systems, which has some concerned that cybercriminals may target policyholders. Of course, the attackers aren’t necessarily limited to a ransomware strategy. (Antoine Taveneaux, CC BY-SA 3.0 link] , via Wikimedia Commons).

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Cyber Insurance Insurance Hacking Ransomware 128

The Last Watchdog

DECEMBER 5, 2018

The compromised databases included names, addresses, dates of birth, insurance policy details, medical record numbers, account balances and dates of service — of both guarantors and patients. The fact that this incident is being labeled “the Atrium breach” in the media also shows where the reputational risk lies.

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Data breaches Healthcare Insurance Risk 153

SC Magazine

FEBRUARY 8, 2021

Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.

Insurance 126

Insurance Cyber Insurance Cybersecurity Government 126

Security Boulevard

JUNE 26, 2023

Unfortunately, the increasing reliance on digital systems and capabilities has also attracted an ever-growing number of malicious actors seeking to defraud businesses through phishing , social engineering , or ransomware attacks. The end result of these types of cyber attacks are often highly public and damaging data breaches.

Data breaches 52

Data breaches Healthcare Telecommunications Financial Services 52

Adam Levin

JUNE 30, 2020

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. Preventing data breaches and implementing adequate cybersecurity safeguards was a daunting assignment even before the Covid-19 pandemic.

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Ransomware Insurance Cyber Insurance Manufacturing 186

CSO Magazine

AUGUST 16, 2022

Cybersecurity risk assessment company Safe Security on Tuesday rolled out two new online risk assessment tools for businesses to use, in order to help them understand their vulnerability to cyberattacks and the costs of insuring against them. Risk tools measure financial impact of cyberthreats.

Risk 61

Risk Cyber Insurance Insurance Data breaches 61

eSecurity Planet

APRIL 29, 2024

Integrated risk management (IRM) is a discipline designed to embed risk considerations for the use of technology throughout an organization. In other words, it links technology spending directly to the value of the resource protected and the associated risks controlled by that technology.

Risk 67

Risk Government Technology Penetration Testing 67

Malwarebytes

AUGUST 28, 2023

million people's personal data may be at risk, after the company suffered a ransomware attack earlier in the year. At this point in time, there’s no additional information with regard to the specific ransomware used or whether additional extortion tactics were deployed. Detect intrusions. Stop malicious encryption.

Data breaches 69

Data breaches Ransomware Identity Theft Backups 69

CSO Magazine

JANUARY 24, 2023

CSI), followed by data breaches (23%), ransomware (20%) and a breach at a third party (15%). It was cited by 29% of respondents in a survey by Computer Systems Inc.

Cyber threats 111

Cyber threats Identity Theft Cyber Insurance Insurance 111

SecureWorld News

MARCH 28, 2024

Department of Treasury on March 27th released a report titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector." Data Security Concerns: AI systems rely heavily on data. The Treasury Department recognizes the importance of proactively addressing these risks. Here is the U.S.

Risk 78

Risk Artificial Intelligence Cybersecurity Financial Services 78

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. The threat actors also claim to have stolen over 27 TB of corporate data and encrypted the company’s VMWare ESXi virtual machines during the attack.” reported Bleeping Computer.

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Ransomware Insurance Technology Encryption 127

CyberSecurity Insiders

SEPTEMBER 20, 2021

The training aims to educate employees on phishing attempts that steal personal data such as credit card and email login details. In addition, workers are trained to identify ransomware attacks and business email compromise funds. Encryption and data backup. Invest in cybersecurity insurance. Use strong passwords.

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Cybersecurity Insurance Passwords Encryption 121

SC Magazine

JUNE 30, 2021

Clout IT hosting company Netgain is is one of a number of vendors that experienced a breach that hit the health care community in the first half of 2021.( “File:NetGain Technologies.png” by Emily.cedargren is licensed under CC BY-SA 3.0 ). Canada, the Netherlands, and Singapore. Florida Healthy Kids: 3.5 million patients.

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Data breaches Insurance Ransomware Hacking 67