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As market for cyber insurance booms, watchdog calls for better data

SC Magazine

Data from at least one insurance broker tracked a near doubling of clients who were opting in for cyber-specific insurance from 26% in 2016 to 47% in 2020. Lyle said the same rush of companies to shift some of their financial risks around cybersecurity to insurance also likely contributed to those increases.

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Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M

Krebs on Security

Now the financial institution is suing its insurance provider for refusing to fully cover the losses. According to a lawsuit filed last month in the Western District of Virginia, the first heist took place in late May 2016, after an employee at The National Bank of Blacksburg fell victim to a targeted phishing email. ”

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Cloudflare Helps Businesses Manage Their Cyber Risk; Announces Partnerships with Leading Cyber Insurers and Incident Response Providers

CyberSecurity Insiders

NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it is partnering with leading cyber insurance companies to help businesses manage their risks online. As a result, some insurance companies have had to raise premiums to cover their costs.

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Q&A: Why SOAR startup Syncurity is bringing a ‘case-management’ approach to threat detection

The Last Watchdog

Demisto launched in May 2016. The ability to prove you have a process, and demonstrate the audit trail showing you used that process, will become the subject of increased scrutiny by regulators and cyber insurance underwriters. LW: What key innovations does Syncurity bring to the table? Sutton: Syncurity has several innovations.

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NEW TECH: Brinqa takes a ‘graph database’ approach to vulnerability management, app security

The Last Watchdog

Imposing just the right touch of policies and procedures towards mitigating cyber risks is a core challenge facing any company caught up in digital transformation. Related: Data breaches fuel fledgling cyber insurance market. Enterprises, especially, tend to be methodical and plodding. Talk more soon.

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MY TAKE: SMBs can do much more to repel ransomware, dilute disinformation campaigns

The Last Watchdog

Eventually, governments will address the risk by beefing up security and purchasing cyber insurance, which go hand in glove. Acohido is dedicated to fostering public awareness about how to make the Internet as private and secure as it ought to be. (LW I’ll keep watch.

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Ransomware review: November 2023

Malwarebytes

In mid-October, the Ukrainian Cyber Alliance (UCA) breached the Trigona Confluence server and completely deleted and defaced their sites. Formed around 2016 to defend Ukraine’s cyberspace against Russian interference, the UCA used a public exploit for CVE-2023-22515 to gain access to Trigona infrastructure. Prevent intrusions.