CyberSecurity Insiders

JANUARY 26, 2022

Merck, the Pharma giant from New Jersey, has won a legal battle with its insurer for covering costs related to the NotPetya ransomware attack that crippled its computer networks to the core incurring losses in millions. Moving ahead into the details, the year 2017 witnessed many companies falling prey to NotPetya ransomware hackers.

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Ransomware Insurance Cyber Insurance Hacking 112

Krebs on Security

DECEMBER 12, 2018

companies with the Cyber Risk Score, and then invited these companies to sign up and see how their score compares with that of other organizations in their industry. The stated use cases for the Cyber Risk Score include the potential for cyber insurance pricing and underwriting, and evaluating supply chain risk (i.e.,

Cyber Risk 267

Cyber Risk Energy and Utilities Risk Marketing 267

Malwarebytes

FEBRUARY 3, 2023

A timeline of ransomware It also examines attacks of interest from 2017 to the present day, looking at some of the key incidents from the last couple of years, and the brutal real world impact of ransomware attacks that increasingly affect the spaces and services around us.

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Security Affairs

APRIL 30, 2019

Aluminum producer Norsk Hydro estimated the cost of the massive attack cyber attack targeting the company in March at around $50 million. I can tell you that potential damages could be very expensive for companies, for example, the transportation giant Maersk announced in 2017 that it would incur hundreds of millions in U.S.

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Cyber Attacks Cyber Insurance Insurance Advertising 108

SecureWorld News

OCTOBER 5, 2020

The OFAC Advisory on these cybercrime payments specifically warns financial institutions, cyber insurance firms, and companies that facilitate payments on behalf of victims, that they may be violating OFAC regulations. In May 2017, a ransomware known as WannaCry 2.0 Treasury: ransomware continues to increase.

Government 92

Government Ransomware Cyber Insurance Cybercrime 92

Adam Levin

AUGUST 26, 2019

The discovery, announcement, and subsequent arrest of the alleged perpetrator all happened within a week of the FTC’s settlement with Equifax for its own 2017 mega-breach. As the notion of who is liable for a data breach expands, it’s becoming more of a necessity to get cyber insurance coverage. The Takeaway.

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Data breaches Cyber Insurance Hacking Insurance 142

CyberSecurity Insiders

APRIL 20, 2023

Bank of America has expressed its concerns over Lloyd’s recent policy decision to exclude cyber insurance coverage for large corporations hit by cyber attacks funded by adversary states. As of now, it offers a standard policy under which a company needs to follow all security procedures to be covered under the attack.

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Insurance Cyber Attacks Cyber Insurance Financial Services 52

Security Affairs

NOVEMBER 6, 2018

Why do crypto exchanges’ users need insurance? According to Group-IB’s annual “ 2018 H i-Tech Crime Trends ” report, the estimated damage caused by targeted attacks on cryptocurrency exchanges in 2017 and the first three quarters of 2018 amounted to $877 million. Security Affairs – cyber insurance, cryptocurrency exchanges ).

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Insurance Cryptocurrency Cyber threats Marketing 100

The Last Watchdog

APRIL 18, 2019

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.

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Digital transformation Cyber Risk Risk Penetration Testing 113

eSecurity Planet

APRIL 26, 2022

Company Sector Year Status Satori DataSecOps 2021 Private BluBracket Software supply chain 2021 Private Cape Privacy Data security 2021 Private ZecOps Digital forensics 2019 Private SecurityScorecard Risk ratings 2017 Private Carbon Black Security software 2015 Acquired: VMware AVG Antivirus software 2015 Acquired: Avast. ForgePoint Capital.

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Cybersecurity Technology Marketing Healthcare 128

The Security Ledger

AUGUST 20, 2019

Related Stories Episode 155: Disinformation is a Cyber Weapon and APTs warm to Mobile Malware Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats NotPetya Horror Story Highlights Need for Holistic Security.

Insurance 40

Insurance Cyber Risk Risk Cyber Insurance 40

Herjavec Group

FEBRUARY 18, 2021

Check out how China teleported a photon into space in 2017. Within this whirlwind of all things moving to the internet, insurance vendors recently began to take cyber insurance very seriously. They first sold it asking ‘do you have antivirus and a firewall’ – check box one, check box two, now you have cyber insurance.

Digital transformation 81

Digital transformation Computers and Electronics Cyber Insurance Insurance 81

eSecurity Planet

MARCH 28, 2023

This article was originally written by Drew Robb on July 7, 2017 , and updated by Chad Kime on March 29, 2023. While a more expensive option, HPE and Aruba back their ClearPass product with the confidence inspired by their brand, robust support options, and a large partner network.

Wireless 111

Wireless Authentication IoT Cyber Insurance 111

SC Magazine

FEBRUARY 25, 2021

In 2017, North Korea-linked hackers launched WannaCry, a fast-spreading wormable ransomware likely intended to generate revenue for a regime rocked by sanctions. “The drain on the economy is a national security issue, not just the threat to infrastructure,” said Dermody. We’re going to end up criminalizing being a victim.

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Ransomware Insurance Government Cryptocurrency 104

eSecurity Planet

FEBRUARY 16, 2021

Through the years, we’ve seen several strains of ransomware make headlines: CryptoLocker in 2013, Locky in 2016, WannaCry and Hermes in 2017, GandCrab in 2018, and now, Ryuk joins the pack of notable names in criminal malware. Ransomware Types. In this new decade, the Ryuk ransomware remains the most dangerous strain.

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Ransomware Backups Encryption Software 97

Pen Test

OCTOBER 10, 2023

WannaCry and NotPetya ransomware worms, in 2017, illustrated how quickly ransomware could spread through networks and cause global disruption. Identify cyber insurance policies and ensure they align to business needs regarding ransomware attacks and data leaks. Have notification procedures and press releases ready.

Ransomware 52

Ransomware Backups Insurance Cyber Insurance 52

eSecurity Planet

APRIL 6, 2023

Notable Ransomware Attacks CryptoLocker ushered in the modern ransomware age in 2013, and in 2017, the devastating WannaCry and NotPetya ransomware attacks raised the threat’s profile significantly. If you have a cyber insurer , they will have their own processes for responding to any cyber attack.

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Ransomware Backups Encryption Malware 98

Andrew Hay

JULY 26, 2018

According to the lawsuit, in June 2018 Everest determined both the 2016 and 2017 breaches were covered exclusively by the debit card rider, and not the $8 million C&E rider. That policy has a single loss limit of liability of $50,000, with a $25,000 deductible and an aggregate limit of $250,000.

Insurance 45

Insurance Computers and Electronics Banking Cybercrime 45

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.

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Cyber Insurance Insurance Marketing Cyber Risk 131

Spinone

OCTOBER 13, 2020

National Security Agency tool that was leaked by the hacker group “Shadow Brokers” in 2017. In fact, one report shows that business email compromises are 23% of cyber insurance claims. RobinHood is said to be closely linked with the Eternal Blue tool. Eternal Blue is a U.S.

Ransomware 52

Ransomware Backups Data breaches Encryption 52

IT Security Guru

DECEMBER 5, 2022

Everyone in the cyber insurance industry or trying to get cyber insurance today knows that using multifactor authentication (MFA) is an absolute make-or-break requirement for getting a cyber insurance policy; or if you can get a policy without MFA, you will pay a hefty increased premium for the same amount of coverage.

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Insurance Cyber Insurance Phishing Social Engineering 127

Malwarebytes

JANUARY 26, 2022

Due to the evolving and growing impact of cybersecurity incidents there are some questions starting to arise about the way that insurance companies deal with the costs that are the results of such incidents. But cyber insurance comes in different flavors and sizes. Pharmaceutical giant Merck & Co. Merck suffered US$1.4

Insurance 98

Insurance Cyber Insurance Ransomware Data breaches 98

eSecurity Planet

JANUARY 11, 2022

Series A SenseOn 2017 London, UK 61 $26.4 Series A GitGuardian 2017 Paris, France 63 $56.0 Series A Isovalent 2017 Mountain View, CA 48 $29.0 Series A Cowbell Cyber 2019 Pleasanton, CA 124 $23.6 Series A SolCyber 2017 Dallas, TX 12 $20.0 Series A Talon Cyber Security 2021 Tel Aviv, Israel 29 $26.0

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Cybersecurity Threat Detection Encryption Risk 142

Schneier on Security

FEBRUARY 28, 2024

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.

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Cyber Insurance Insurance Government Cyber Risk 294