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 233

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 114

Pen Test

OCTOBER 10, 2023

The basic attack involves malware that encrypts important files, databases, systems, and more, paralyzing business operations. Sopra Steria - One of the Largest Reported Ransoms Europe's major IT services firm Sopra Steria was breached in October 2020 by the Ryuk gang, with extensive backups preventing major disruption.

Ransomware 52

Ransomware Backups Insurance Cyber Insurance 52

Adam Levin

MARCH 2, 2020

While the sophistication and methods of attack may vary, the short answer is that ransomware is a type of malware that encrypts critical data on a computer or computer network so that users can’t regain access without paying a “ransom.” If your company already has cyber insurance coverage, consider increasing it.

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Cyber threats Ransomware Encryption Insurance 215

Cisco Security

MARCH 22, 2022

Left of Boom refers to actions you can take to protect your organization before a cyber incident. It includes the following advice: Have visibility and control of all assets and actionable metrics to measure cyber risk. Run very good anti-malware continuously, and make sure all systems are patched and updated continuously.

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Cyber Insurance Authentication Insurance Cyber Risk 67

Krebs on Security

MARCH 4, 2022

Conti sought out these tools both for continuous testing (to see how many products detected their malware as bad), but also for their own internal security. But if you have information about their cyber insurance and maybe they have a lot of money in their account, I need a bank payout, then I can bargain.

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Ransomware Insurance Cyber Insurance Accountability 212