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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.

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HardBit ransomware tailors ransom to fit your cyber insurance payout

Malwarebytes

encrypts files and presents the following infection message on compromised desktops: All your important files are stolen and encrypted! Here, they’re going out of their way to “help” by quizzing victims about the specifics of their cyber insurance policy. Create offsite, offline backups.

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Ransomware: Number One Cyber Insurance Claim

SecureWorld News

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. 4 key takeaways from cyber insurance industry report. Cyber insurance works.

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Ransomware Prevention, Detection, and Simulation

NetSpi Executives

Instead, if you can detect one or more malicious events present in most kill chains before the attackers meet their objective, then you can prevent ransomware attacks. Hunt and destroy or encrypt backups hosted in local and cloud networks as well as virtual machine snapshots. Protect your backup systems.

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HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost

Security Affairs

For those who have cyber insurance against ransomware attacks. Insurance companies require you to keep your insurance information secret, this is to never pay the maximum amount specified in the contract or to pay nothing at all, disrupting negotiations. Very important! reads the ransom note.

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Education Sector has Seen a 44% Rise in Cyber Attacks Since 2021

CyberSecurity Insiders

This breach was of physically present servers, rather than a breach of third-party cloud security and also shows how typical security protocol is sometimes less effective than, say, blockchain -based systems. Cyber insurance. Often, educational institutions see cyber insurance as a needless expense. Conclusion.

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Online Schools Company Pays Hacker Ransom

SecureWorld News

We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. This topic came up during a virtual SecureWorld conference when Attorney Daniel Pepper presented on ransomware and digital extortion. "If Can we restore from these backups?