Remove 2016 Remove Cyber Insurance Remove Ransomware
article thumbnail

Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

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. In addition, the U.S.

article thumbnail

Cyber Insurance Premiums Suddenly Surging

SecureWorld News

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

Ransomware review: November 2023

Malwarebytes

This article is based on research by Marcelo Rivero, Malwarebytes’ ransomware specialist, who monitors information published by ransomware gangs on their Dark Web sites. This provides the best overall picture of ransomware activity, but the true number of attacks is far higher.

article thumbnail

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

The Last Watchdog

However, at this moment in history, two particularly worrisome types of cyber attacks are cycling up and hitting local government entities hard: ransomware sieges and election tampering. Related: Free tools that can help protect elections I had a deep discussion about this with Todd Weller, chief strategy officer at Bandura Cyber.

article thumbnail

U.S. Government Warning on Ransomware Payments: What Does It Mean?

SecureWorld News

Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an advisory on ransomware. This was not about the cybercrime itself, but instead, the regulatory trouble your organization could face for facilitating ransomware payments. Treasury: ransomware continues to increase. in cyberspace or elsewhere.

article thumbnail

Ransomware Protection in 2021

eSecurity Planet

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. A ransomware attack is about as bad as a cyber attack can get. Jump to: What is ransomware? How ransomware works. Preventing ransomware. Ransomware attacks and costs.