Duo's Security Blog

MAY 23, 2022

Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 with data breaches costing businesses an average of $4.24 million per year , resulting in cyber insurance premiums jumping up by 50-100%. No doubt, cyber insurance is a hot topic right now.

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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.

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Security Affairs

FEBRUARY 21, 2023

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. For those who have cyber insurance against ransomware attacks. But since the sneaky insurance agent purposely negotiates so as not to pay for the insurance claim, only the insurance company wins in this situation.

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The Hacker News

FEBRUARY 14, 2023

From a cyber risk perspective, attacks on data are the most prominent threat to organizations. Regulators, cyber insurance firms, and auditors are paying much closer attention to the integrity, resilience, and recoverability of organization data – as well as

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Webroot

AUGUST 10, 2021

The issue at the heart of ransomware insurance will be familiar to most parents of young children: rewarding bad behavior only invites more of the same, so it’s generally not a good idea. But critics of the ransomware insurance industry argue that’s exactly what the practice does. So, if U.S.-based

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eSecurity Planet

JULY 12, 2022

Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Also read: Top 8 Cyber Insurance Companies for 2022 Best Ransomware Removal and Recovery Services. Most had been infected. Lessons Learned.

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Duo's Security Blog

DECEMBER 7, 2022

Much has been published about how the demand — and subsequent cost — for cyber liability insurance has skyrocketed in line with increasing incidents of cyberattacks. The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories.

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Thales Cloud Protection & Licensing

MAY 9, 2022

Cyber insurance coverage ramps up. There is also huge debate around cyber insurance and whether it is fit for purpose. Cyber insurance is designed to help protect organizations against the fallout from cyber-attacks, including covering the financial costs of paying out ransomware demands and dealing with incidents.

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Security Affairs

AUGUST 21, 2020

The University was able to recover the operations from the backups, but decided to pay the ransom to avoid having ransomware operators leak student information online. University of Utah officials explained that the university’s cyber insurance policy covered part of the ransom. ” continues the statement.

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eSecurity Planet

OCTOBER 18, 2021

” Cyber Insurance No Longer Reliable. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out.

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SecureWorld News

AUGUST 18, 2020

Ransomware attacks: another argument for cyber insurance? Business interruption, loss of revenue and reputational damages are all financial burdens that cyber insurance can provide relief for. Partnering with a trusted insurance carrier with dedicated cybersecurity expertise is a must.".

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Spinone

DECEMBER 8, 2016

What is G Suite Security Insurance? G Suite security insurance removes and mitigates major risks of malware attacks and imposes those on the insurance company. Additionally, many cyber liability insurance providers struggle to put a price on high-value company assets, or are reluctant to cover them in the first place.

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eSecurity Planet

OCTOBER 18, 2022

The best defense and the best option for recovery will always be the availability of sufficient, isolated data backups and a practiced restoration process. 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.

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CyberSecurity Insiders

OCTOBER 20, 2021

The only saving grace was that the city had invested in both on-premise and cloud backups. On the business side, the plan should address elements such as having a communication plan for the CISO, CIO and company executives as well as a risk management component that includes cyber insurance. Backup Strategy. The Attack.

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CyberSecurity Insiders

OCTOBER 24, 2022

Again, this incident demonstrates the importance of maintaining backups of data (especially sensitive and critical data) and managing human behavior as they access the systems. Cyber insurance. Often, educational institutions see cyber insurance as a needless expense. Make backups, and practice restoring from them.

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SecureWorld News

DECEMBER 2, 2020

We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. Number one, we're going to want to think about the viability of the backups? Not only do we have backups but also have we tested them? Can we restore from these backups?

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SecureWorld News

SEPTEMBER 23, 2021

The latest estimates are around 20% of actual ransomware instances get reported to law enforcement or insurance or regulators," Sheridan said. Within that, it's four categories: preparation, updates, protection, and backups. Cyber defense is about test, test, test.". Increase information sharing.

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Malwarebytes

SEPTEMBER 30, 2022

Take cyber insurance , for example. Cyber insurance can prevent local governments from having to pay huge out of pocket costs in the event that they’re hit with a cyberattack. Baltimore learned this the hard way. (An

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eSecurity Planet

JULY 8, 2022

But it also requires software to orchestrate data movement, backup and restore technology to ensure a current copy of data is available, and the ability to recover systems and data rapidly. This type of backup and DR technology offers RPOs measured in hours. See the Best Backup Solutions for Ransomware Protection.

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SecureWorld News

JANUARY 21, 2024

The costs of recovering from such incidents, especially for smaller organizations without cyber insurance, can be devastating. Having basic cyber hygiene Advanced technology is important, but basics like regular data backups, software updates, strong password policies, and multi-factor authentication are fundamental.

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Malwarebytes

JANUARY 15, 2023

As we’ve seen recently, cyber insurance is no guarantee of avoiding a ransomware pitfall either with refusal of payout being decided in a court of law. Backup your data. Backups are the last line of defence against an attack that encrypts your data. These are all valuable components of a solid response strategy.

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Security Boulevard

JUNE 23, 2022

The World Economic Forum’s Global Risks Report has consistently ranked cyber attacks among the top seven risks facing the planet in terms of likelihood and impact, while high-profile CEOs including Warren Buffett of Berkshire Hathaway and Jamie Dimon of JPMorgan Chase see them as the number-one threat to business. no data, no equipment?—?and

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Malwarebytes

NOVEMBER 15, 2023

Create offsite, offline backups. Keep backups offsite and offline, beyond the reach of attackers. This suggests a possible targeting preference of the Cl0p campaign towards educational institutions. Test them regularly to make sure you can restore essential business functions swiftly. Don’t get attacked twice.

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Webroot

OCTOBER 14, 2022

As a result, many organizations are shifting away from cyber insurance and adopting layered defenses in an effort to achieve cyber resilience. Lock down Remote Desktop Protocols (RDP) Educate end users Install reputable cybersecurity software Set up a strong backup and disaster recovery plan. Strategies for individuals.

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Malwarebytes

DECEMBER 20, 2022

A little recovery time Don’t wait until ransomware is in your network and encrypting everything to ask if someone has a backup. Law enforcement, cyber insurance (if you have it), external security contractors may well be some of the first entities on your list. When an attack happens, who is contacted first?

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eSecurity Planet

FEBRUARY 16, 2021

With vulnerabilities rooted in unsuspecting users, the task of preventing these attacks means both staff training and a robust email and network security system that includes a strong backup program so you have a recent copy of your data that you can roll back to. Offline Backups. Screenshot example. Ransomware predictions.

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Cytelligence

JANUARY 27, 2020

Effectiveness of data backup strategies. Unlocking – Organizations can either pay the ransom and hope for the cybercriminals to actually decrypt the affected files (which in many cases does not happen), or they can attempt a recovery by removing infected files and systems from the network and restoring data from clean backups.

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SC Magazine

JUNE 15, 2021

expects to begin to recover the losses in quarters three and four, largely through insurance coverage. And while insurance, and even law enforcement in the case of JBS, can recover some losses, investor concern about hits to the bottom line and reputational damage can be lasting. Will our cyber insurer buy it or would we?”

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SecureWorld News

SEPTEMBER 14, 2021

They followed the FBI’s advice to not pay the hackers and restored their system from backups they had kept for such an emergency. The school district’s cyber insurance provided free credit monitoring, but many parents were still puzzled by how to report the problem and what steps they should take next to protect their children.

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SC Magazine

FEBRUARY 25, 2021

It’s a little blunt to be a solution,” said Mike McNerney, chief operating officer of Resilience, which provides cyber insurance, and a former policy adviser to the Department of Defense. Todt said that cybersecurity insurance is prevalent among SMBs, but often offer a low return on investment. Part of the problem is technical.

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Thales Cloud Protection & Licensing

FEBRUARY 15, 2023

Ransomware attacks have become much more dangerous and have evolved beyond basic security defenses and business continuity techniques like next-gen antivirus and backups. At this point, typical defenses for ransomware, such as backups and restoration of systems and data, do not apply. What is Double Extortion Ransomware?

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Ransomware Encryption Backups Cyber Insurance 71

Malwarebytes

OCTOBER 19, 2022

Make offsite, offline backups. To make this possible you’ll need comprehensive, recently tested, backups that are both offline and offsite, beyond the reach of your attackers. A muli-layered approach to cyber attack prevention. Cyber threat hunting for SMBs: How MDR can help.

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NetSpi Executives

APRIL 27, 2024

Hunt and destroy or encrypt backups hosted in local and cloud networks as well as virtual machine snapshots. Some can’t afford not to pay, and some are covered by cyber insurance. Protect your backup systems. Does backup protect against ransomware? That’s why off-site backups are critically important for recovery.

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SC Magazine

JUNE 30, 2021

Of that group, some were willing to let their districts part with sizable amount of money, even though local taxpayers would be (at the very least indirectly via cyber insurance costs) taking a hit as well. We recommend they invest in security and backups to better defend against the threat.”. It’s a balancing act.”AS.

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Security Boulevard

JUNE 2, 2022

Prepare for the worst with cyber insurance, a data backup plan, and a response plan as part of your overall business continuity and disaster recovery program. Apply software security patches and conduct regular security awareness employee training to reduce vulnerabilities that can be exploited by cybercriminals.

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Centraleyes

MARCH 19, 2024

Key benefits include shorter downtimes, reduced recovery costs, lower cyber insurance, and fewer fines in heavily regulated sectors. Test Backup and Restore Capabilities: Assess the backup and restore capabilities outlined in the DRP. How Do Disaster Recovery Plans Work?

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SecureWorld News

AUGUST 21, 2020

The ISO assisted the college in restoring locally managed IT services and systems from backup copies. The University had servers encrypted but restored the systems and the access from backups. It had cyber insurance: "The university’s cyber insurance policy paid part of the ransom, and the university covered the remainder.

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