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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

Ransomware attacks have become a significant threat to organizations of all kinds worldwide, with attackers encrypting data and demanding payment for its release. In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network.

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Giant health insurer struck by ransomware didn't have antivirus protection

Malwarebytes

The Philippine Health Insurance Corporation (PhilHealth), has confirmed that it was unprotected by antivirus software when it was attacked by the Medusa ransomware group in September. Stop malicious encryption. PhilHealth is the government owned and controlled corporation that provides universal health coverage in the Philippines.

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Avaddon ransomware gang targets AXA Insurance

CyberSecurity Insiders

AXA, a French Multinational Insurance Company was reportedly hit by Avaddon Ransomware Gang last week halting IT operations in its offices located in the Philippines, Hong Kong, Malaysia, and Thailand. . . The post Avaddon ransomware gang targets AXA Insurance appeared first on Cybersecurity Insiders.

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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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5 Ways Businesses Can Stay Ahead of Cybersecurity Attacks

CyberSecurity Insiders

Encryption and data backup. Data encryption is a protection strategy that renders data useless even when an intruder accesses it. Encrypting all your company’s sensitive data and private information ensures that it’s protected from data breaches. They protect your electronic devices and accounts from hackers.

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A Cyber Insurance Backstop

Schneier on Security

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. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.

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Protecting Sensitive Data with Luna Key Broker for Microsoft Double Key Encryption

Thales Cloud Protection & Licensing

Protecting Sensitive Data with Luna Key Broker for Microsoft Double Key Encryption. Thales has integrated its Luna HSMs with DKE for Microsoft 365, which work together to enable organizations to protect their most sensitive data while maintaining full control of their encryption keys. Thu, 04/01/2021 - 14:04.