Remove Backups Remove Cyber Insurance Remove Government Remove Ransomware
article thumbnail

The future of cyber insurance

IT Security Guru

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.

article thumbnail

Ransomware Bites Dental Data Backup Firm

Krebs on Security

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. The ransomware attack hit PerCSoft on the morning of Monday, Aug. West Allis, Wis.-based

Backups 230
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Scant evidence that cyber insurance boom is leading to better security

SC Magazine

The rise of the cyber insurance has largely failed to promote better cybersecurity practices among the industries they cover, according to a new report released Monday from British security think tank RUSI. Growing losses from ransomware attacks have…emphasized that the current reality is not sustainable for insurers either.

article thumbnail

What’s happening in the world of personal cyber insurance?

Malwarebytes

You’ve likely only seen cybercrime insurance primarily mentioned in relation to attacks on businesses. Most commonly, it’s cited with regard to ransomware attacks in the workplace, or associated data loss. Some folks think the mere presence of insurance simply encourages more attacks , and is hurting more than it’s helping.

article thumbnail

Ransomware Prevention, Detection, and Simulation

NetSpi Executives

Table of Contents What is ransomware? Ransomware trends Ransomware prevention Ransomware detection Ransomware simulation Ransomware security terms How NetSPI can help What is ransomware? Ransomware adversaries hold the data hostage until a victim pays the ransom. How does ransomware work?

article thumbnail

Local government cybersecurity: 5 best practices

Malwarebytes

It seems like not a day goes by where we don’t hear about a local government cyberattack. Indeed, from 911 call centers to public schools , cyberattacks on local governments are as common as they are devastating. Just how often do threat actors attack local governments? Take cyber insurance , for example.

article thumbnail

After Springhill: Assessing the Impact of Ransomware Lawsuits

eSecurity Planet

A lawsuit working its way through the courts could have a lot to say about the liabilities facing organizations that have been hit by ransomware attacks – and could have implications for cybersecurity preparation and regulation in general. Hospital’s Operations Hit by Ransomware. ” Cyber Insurance No Longer Reliable.