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 114

Cyber Insurance Insurance Marketing Cyber Risk 114

Krebs on Security

AUGUST 29, 2019

PerCSoft , a Wisconsin-based company that manages a remote data backup service relied upon by hundreds of dental offices across the country, is struggling to restore access to client systems after falling victim to a ransomware attack. Cloud data and backup services are a prime target of cybercriminals who deploy ransomware.

Backups 223

Backups Ransomware Insurance Encryption 223

Cisco Security

JULY 11, 2022

From extortion to data breaches, ransomware is always evolving, and is becoming very lucrative with Ransomware-as-a-service kit making it easier to target organizations. Below you can review their findings from a study done between 2018 – 2022: Map: Comparitech Get the data Created with Datawrapper. Key findings .

Ransomware 120

Ransomware Education Cyber Insurance Insurance 120

Spinone

OCTOBER 13, 2020

As is often the case, the cost of restoring files from backups can amount to more than paying the ransom. In IBM’s Cost of a Data Breach Report 2019 cited the following: Lost business is the biggest contributor to data breach costs The average cost of lost business in 2019 was $1.42

Ransomware 52

Ransomware Backups Data breaches Encryption 52

Adam Levin

DECEMBER 27, 2019

fewer of you to go around because at this moment in history everyone understands that a good CISO is critical to the ongoing success of an enterprise (the 2019 IBM Cost of Data Breach study found that the average cost to an organization was $3.92 You’re going to have personal cyber insurance.

Cybersecurity 100

Cybersecurity CISO IoT Insurance 100