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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Insurance Ransomware Cybersecurity Cyber Insurance 121

Adam Levin

JUNE 4, 2021

You would think that ExaGrid, a backup appliance and anti-ransomware service might know how to avoid ransomware, but it was hit. . million after it was hit with Conti ransomware. . The FBI announced last month that Conti ransomware had been used against the Irish healthcare system and at least sixteen U.S.

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Ransomware Backups Insurance Healthcare 289

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

Security Affairs

FEBRUARY 21, 2023

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. The HardBit ransomware group first appeared on the threat landscape in October 2022, but unlike other ransomware operations, it doesn’t use a double extortion model at this time. Very important!

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Insurance Ransomware Cyber Insurance Malware 78

SC Magazine

JUNE 28, 2021

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.

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Cyber Insurance Insurance Ransomware Marketing 136

SecureWorld News

MARCH 30, 2023

However, data is as vulnerable as it is valuable, and World Backup Day on Friday, March 31st, is a welcome reminder of the need to have a well thought out data protection strategy in place. The campaign began in 2011 as World Backup Month and was changed to World Backup Day later.

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Backups Insurance Cyber Attacks CISO 92

eSecurity Planet

JULY 12, 2022

The first signs of the ransomware attack at data storage vendor Spectra Logic were reports from a number of IT staffers about little things going wrong at the beginning of the day. Screens then started to display a ransom demand, which said files had been encrypted by the NetWalker ransomware virus. Cyber Insurer Provides Help.

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Ransomware Cyber Insurance Backups Insurance 144

Malwarebytes

APRIL 27, 2022

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.

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Cyber Insurance Insurance Backups Cryptocurrency 75

Krebs on Security

DECEMBER 7, 2019

A Colorado company that specializes in providing IT services to dental offices suffered a ransomware attack this week that is disrupting operations for more than 100 dentistry practices, KrebsOnSecurity has learned. When asked about reports of a ransomware attack on his company, Miner simply said it was not a good time and hung up.

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Ransomware Backups Insurance Wireless 226

Security Boulevard

JULY 30, 2021

In the wake of the Colonial Pipeline hack, businesses all over the world are getting a very loud reminder that they could be next to be compromised by a ransomware intrusion. The post Cyberresilience: Your Data Insurance Policy appeared first on Security Boulevard. For many, it’s not an ‘if,’ but a case of how and when.

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Insurance Ransomware Hacking Cybersecurity 127

Krebs on Security

MARCH 2, 2021

PrismHR , a company that sells technology used by other firms to help more than 80,000 small businesses manage payroll, benefits, and human resources, has suffered what appears to be an ongoing ransomware attack that is disrupting many of its services. Hopkinton, Mass.-based PrismHR has not yet responded to requests for comment.

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Ransomware Small Business Insurance Software 290

eSecurity Planet

OCTOBER 18, 2022

For any organization struck by ransomware , business leaders always ask “how do we decrypt the data ASAP, so we can get back in business?”. The good news is that ransomware files can be decrypted. What can be done to recover from ransomware attacks when backups are not available? How Does Ransomware Encryption Work?

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Ransomware Encryption Insurance Backups 144

Duo's Security Blog

MAY 23, 2022

Cyber liability insurance can be a lifeline in the event of a major incident or breach. million per year , resulting in cyber insurance premiums jumping up by 50-100%. No doubt, cyber insurance is a hot topic right now. The unfortunate reality is that cyber insurance is becoming a necessity for organizations big and small.

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CyberSecurity Insiders

JUNE 3, 2022

Healthcare providers are opting to pay a ransom in the event of ransomware attacks, instead of recovering it from data backups. The State of Ransomware in Healthcare 2022 report is against what is being urged by the law enforcement agencies such as CISA and the FBI.

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Healthcare Ransomware Insurance Backups 120

SecureWorld News

SEPTEMBER 10, 2020

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. The number one type of cyber incident so far this year is ransomware. Cyber insurance works.

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Cyber Insurance Insurance Ransomware Cyber Attacks 55

Krebs on Security

DECEMBER 8, 2022

Ransomware groups are constantly devising new methods for infecting victims and convincing them to pay up, but a couple of strategies tested recently seem especially devious. Department of Health and Human Services (HHS) warned that Venus ransomware attacks were targeting a number of U.S. “ Cl0p ” a.k.a.

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Healthcare Backups Ransomware Insurance 255

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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Insurance Cyber Insurance Ransomware Risk 75

The Hacker News

FEBRUARY 14, 2023

Regulators, cyber insurance firms, and auditors are paying much closer attention to the integrity, resilience, and recoverability of organization data – as well as The "business value" of data continues to grow, making it an organization's primary piece of intellectual property.

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Cyber Insurance Backups CISO Insurance 71

Malwarebytes

NOVEMBER 15, 2023

This article is based on research by Marcelo Rivero, Malwarebytes’ ransomware specialist, who monitors information published by ransomware gangs on their Dark Web sites. This provides the best overall picture of ransomware activity, but the true number of attacks is far higher.

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Ransomware Education Backups Cyber Insurance 94

CyberSecurity Insiders

JUNE 1, 2023

A recent ransomware attack on a New York-based biotech company, Enzo Biochem, has resulted in the exposure of sensitive information belonging to more than 2.5 The identity of the ransomware group responsible for the attack has yet to be disclosed, as investigations into the incident are ongoing. million patients.

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Ransomware Healthcare Insurance Backups 107

Webroot

AUGUST 27, 2021

When the Institute for Security & Technology’s Ransomware Task Force published its report on combatting ransomware this spring, the Colonial Pipeline, JBS meatpacking and Kaseya VSA attacks were still around the corner. ” -Ransomware Task Force, IST. While many of these would fall to law enforcement, U.S.

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Ransomware Backups Antivirus Security Awareness 137

eSecurity Planet

OCTOBER 5, 2021

Malware has been around for nearly 40 years, longer even than the World Wide Web, but ransomware is a different kind of threat, capable of crippling a company and damaging or destroying its critical data. Ransomware Protection and Recovery Steps. Data backup. Ransomware removal tools. Ransomware recovery services.

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Ransomware Backups Encryption Insurance 139

Malwarebytes

MARCH 26, 2023

Fruit and vegetable producer Dole has confirmed attackers behind its February ransomware attack accessed employee data. The company has also declined to comment when pressed for more details about the ransomware attack. Byrne adds that getting insurance in North America now is "prohibitive." Create offsite, offline backups.

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Ransomware Insurance Backups Media 69

CyberSecurity Insiders

FEBRUARY 21, 2022

A ransomware attack hit Meyer Corp USA, a company that is into the business of Kitchenware, in October last year. And details are now in that Conti Ransomware gang who stole valuable information targeted all of its subsidiaries. The gang behind the ransomware infection is yet to be detected. More details awaited!

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Ransomware Insurance Backups Encryption 124

CyberSecurity Insiders

OCTOBER 20, 2021

Okumu lived through the ransomware attack on the City of Baltimore in 2018, which affected 90% of the municipality’s applications. As the then-director of IT infrastructure for the city, he learned a lot of valuable lessons about defending against and recovering from a ransomware attack. Backup Strategy. Still, it cost U.S. $18

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Ransomware Backups Insurance Cyber Insurance 111

Security Affairs

AUGUST 21, 2020

The University of Utah admitted to have paid a $457,059 ransom in order to avoid having ransomware operators leak student information online. The university did not reveal the ransomware family involved in the attack. ” According to the University, the ransomware encrypted only 0.02% of the data stored on its servers.

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Ransomware Cyber Insurance Insurance Advertising 144

Malwarebytes

APRIL 24, 2023

The Black Basta ransomware group has claimed responsibility for this attack by posting about Yellow Pages on the “Basta News” leak site. Attackers using Black Basta have been known to be active on a victim's network for two to three days before running their ransomware. How to avoid ransomware Block common forms of entry.

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Ransomware Insurance Backups Encryption 71

Malwarebytes

FEBRUARY 19, 2023

Ransomware On February 16, 2023, MKS filed notice of a data breach after learning of the ransomware attack that resulted in sensitive employee information being made accessible to an unauthorized party. Chip equipment industry There is no good time for a ransomware attack, but this one comes with very bad timing.

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Ransomware Backups Manufacturing Marketing 88

eSecurity Planet

FEBRUARY 16, 2021

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. A ransomware attack is about as bad as a cyber attack can get. Jump to: What is ransomware? How ransomware works. Preventing ransomware. Ransomware attacks and costs.

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Security Affairs

JULY 5, 2021

US water company WSSC Water is investigating a ransomware attack that affected non-essential business systems in May. WSSC Water is investigating a ransomware attack that took place on May 24 and that targeted a portion of their network that operates non-essential business systems. Follow me on Twitter: @securityaffairs and Facebook.

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Ransomware Identity Theft Insurance Backups 119

eSecurity Planet

OCTOBER 18, 2021

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.

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CyberSecurity Insiders

OCTOBER 23, 2021

By tapping into the advanced capabilities of our IT scanning technology, we’re proud to share actionable data to increase awareness around the current state of cyber risk technology and help eliminate the impact of adverse events — especially as we approach the end of a pivotal year,” said Madhu Tadikonda, President of Corvus Insurance. “We

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Insurance Cyber Risk Technology Ransomware 59

Malwarebytes

JULY 24, 2023

The Tampa General Hospital (TGH) has promised to reach out to individuals whose information has been stolen by a ransomware group. ” While that is good news from a healthcare perspective, the ransomware operators did obtain something of value. . The Snatch ransomware added itself as a service which ran in safe mode.

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Ransomware Computers and Electronics Passwords Identity Theft 83

Malwarebytes

JANUARY 15, 2023

The real world impact of cybercrime rears its head once more, with word that 14 schools in the UK have been caught out by ransomware. There’s no word if any of the schools affected paid the ransom and had their data leaked anyway, or if the ransomware gang stuck to its word and “only” leaked in cases of non-payment.

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Ransomware Backups Education VPN 75

Krebs on Security

OCTOBER 22, 2019

Business-to-business payments provider Billtrust is still recovering from a ransomware attack that began last week. The company said it is in the final stages of bringing all of its systems back online from backups. Cloud service providers are a favorite target of attackers who deal in ransomware.

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SecureWorld News

SEPTEMBER 5, 2023

In a recent revelation, security researcher Jeremiah Fowler uncovered a significant data leak affecting one of the United States' largest health insurance companies, Cigna Health. The exposed database offered a unique glimpse into the operations of Cigna Health, one of the nation's largest health insurance providers.

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Backups Insurance Healthcare Data breaches 89

CyberSecurity Insiders

APRIL 15, 2021

In 2020, ransomware was the most widely-used method of delivering cyber attacks, accounting for 23% of security events handled by the IBM Security X-Force. A distant second to ransomware, the report says, was data theft (13%), followed by server access (10%). Ransomware is undeniably the top attack type,” according to the report.

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