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Insured companies more likely to be ransomware victims, sometimes more than once

CSO Magazine

Companies with cyber insurance are more likely to get hit by ransomware, more likely to be attacked multiple times, and more likely to pay ransoms, according to a recent survey of IT decision makers. To read this article in full, please click here

Insurance 123
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Encryption debate could have enterprise security implications

SC Magazine

Facebook is among the companies that would like to incorporate end-to-end encryption to benefit users. United Kingdom Home Secretary Priti Patel is set to tell a conference of child protection activists that end-to-end encryption puts children at risk, according to a draft invitation seen by Wired UK.

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Merck wins NotPetya ransomware attack legal battle

CyberSecurity Insiders

Merck was one of the company that was targeted by the said file encrypting malware gang. The pharmaceutical company thought that its cyber insurance will cover the incurred losses and so tried its best to recover from the consequences by diverting its annual budgetary funds for the damaged IT infrastructure.

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Building a Cyber Resilient Business: The Protection Layer

Webroot

This is all happening while companies are spending trillions digitizing their business operations and trying to obtain secure cyber insurance while keeping up with regulatory changes in GDPR, HIPAA, and Sarbanes-Oxley. The best way to weather these challenges is to become a cyber resilient business.

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Maze Ransomware operators claim to have stolen millions of credit cards from Banco BCR

Security Affairs

The hackers claim to have compromised the Banco BCR’s network in August 2019, and had the opportunity to exfiltrate its information before encrypting the files. Maze Ransomware ransomware operators recently disclose other attacks against different organizations, including IT services giant Cognizant , and cyber insurer Chubb.

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After Springhill: Assessing the Impact of Ransomware Lawsuits

eSecurity Planet

The legal complaint [PDF] notes that on July 9, 2019, the day it was hit by a ransomware attack, Springhill Memorial Hospital contended that the event had “not affected patient care.” ” Cyber Insurance No Longer Reliable. Also read: Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs. .

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How to Decrypt Ransomware Files – And What to Do When That Fails

eSecurity Planet

However, even with the best planning, organizations can find a few users, machines, or systems that were overlooked or whose backup may be corrupted or encrypted. First, call the cyber insurance company that issued the organization’s cybersecurity policy. How Does Ransomware Encryption Work?