Webroot

JULY 25, 2022

Cyber insurance becomes mainstream discussion. As cyberattacks have become more costly and more challenging to track, cyber insurance has gained prominence across the industry. The cyber insurance market is expected to reach around $20B by 2025.

Cyber Insurance

SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

Insurance

CyberSecurity Insiders

APRIL 19, 2022

Interestingly, nearly half of the victims have set up cryptocurrency wallets to pay ransom for the future. And that about 30% of them have sought cyber insurance as a cover to business loss, just in case another digital assault strikes them.

Ransomware

Security Affairs

JUNE 18, 2024

In some cases, attackers are even leveraging the threat of regulatory actions or causing cyber insurance policies to be rendered moot by reporting lapses in security on the part of the victim to regulators and insurers. This ROI makes ransomware a compelling business model for criminals, so it is soaring in popularity.

Ransomware

SecureWorld News

AUGUST 21, 2020

The end result was hefty payment: "After careful consideration, the university decided to work with its cyber insurance provider to pay a fee to the ransomware attacker. The University made the payment in cryptocurrency, through a third party firm. And number one is cyber insurance.

Ransomware

Malwarebytes

MAY 2, 2022

Last week on Malwarebytes Labs: Why MITRE matters to SMBs Apple’s child safety features are coming to a Messages app near you Why software has so many vulnerabilities, with Tanya Janca: Lock and Code S03E09 Watch out for this SMS phish promising a tax refund Rogue ads phishing for cryptocurrency: Are you secure? URGENT BUSINESS PROPOSAL!!!”

Cyber Insurance

SecureWorld News

SEPTEMBER 23, 2021

Cyber defense is about test, test, test.". Familiarize yourself and your organization with cyber insurance. While Sheridan was discretionary about what he shared on this topic, he did explain how the Secret Service would like to work with insurers in the future.

Ransomware

SecureList

NOVEMBER 9, 2022

Arthur Laudrain, Strategic Analyst (Cyber Program), The Hague Centre for Strategic Studies. In 2023, we might see a slight decline in ransomware attacks, reflecting the slowdown of the cryptocurrency markets. Yet, in addition to cyber insurance, companies will need a designated DR or RR (Rolling Recovery) plan.

Cybersecurity

Adam Levin

JULY 8, 2020

A recent domain hijack of Japanese cryptocurrency exchange Coincheck.com was used to spoof the company in a spear-phishing campaign. . “They had all of our traffic and we were losing thousands of dollars daily in revenue.” ” Hacking campaigns exploiting poor domain name security can be more subtle.

Hacking

Webroot

OCTOBER 14, 2022

Since the mainstreaming of ransomware payloads and the adoption of cryptocurrencies that facilitate untraceable payments, malicious actors have been innovating new methods and tactics to evade the latest defenses. In other words, 2022 has been an eventful year in the threat landscape, with malware continuing to take center stage.

Malware

Cytelligence

JANUARY 14, 2020

The rise of cyber insurance – Underwriters will sell more cyber insurance policies for businesses and government agencies such as schools, hospitals and utilities. Insurance companies may guide their policyholders to pay ransoms, as this is generally cheaper than having to recover from a ransomware attack.

Cybersecurity

CyberSecurity Insiders

DECEMBER 18, 2022

The hijacking of computer resources to mine cryptocurrencies is one of the fastest growing types of cyber-threats globally. Cyber security is a boardroom issue, but with growing economic uncertainty, organizations are being forced to make tough decisions as they plan 2023 budgets.

Cybersecurity

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. A less abrasive way to interrupt payments could come at the cryptocurrency level. “We’re going to end up criminalizing being a victim.

Ransomware

SecureWorld News

NOVEMBER 1, 2021

He discusses the evolution of ransomware in cybercrime, including advances in technology, cyber insurance, the cryptocurrency challenge, the sophistication of ransomware actors, and much more. [RESOURCE] Listen to the recent SecureWorld podcast episode featuring U.S. Secret Service Assistant Director Jeremy Sheridan.

Cybersecurity

Security Boulevard

JUNE 29, 2024

Powered by WormGPT and FraudGPT, hackers and scammers will continue to drive the cost of business higher as organizations pay more for cyber insurance. Businesses wanting to meet compliance mandates, lower their cyber insurance premiums, and reduce their security operations costs need to invest in AI for cyber defense.

Artificial Intelligence

Thales Cloud Protection & Licensing

AUGUST 11, 2021

million) before crooks could transfer funds away from their cryptocurrency wallet, this newsmaking breach demonstrated how lucrative this foul play could get. Ransomware incidents covered by cyber insurance policies. The insurer provides funding to the insured parties in the event they suffer ransomware invasion.

Ransomware

SC Magazine

JUNE 15, 2021

From a financial perspective, if we did have to pay the ransomware, do we know how to buy cryptocurrency? Will our cyber insurer buy it or would we?” . “Is the priority to support customers, or recover our plant or both? And if all our plants are hit, which do we focus on first?

Ransomware

CyberSecurity Insiders

APRIL 30, 2021

The 48 recommended actions provide guidance for dealing with the complexities of the ransomware epidemic, from the role of cyber insurance, to cryptocurrency, to safe havens for threat actors.

Ransomware

eSecurity Planet

FEBRUARY 16, 2021

For access to the decryption key, the victim must make prompt payment, often in cryptocurrency shielding the attacker’s identity. As ransomware keeps at its current pace, we see a boom in cyber insurance sales (see Ransomware Insurance: Cyber Insurance May Be the Best Protection ).

Ransomware

Centraleyes

DECEMBER 16, 2024

Insurance Becomes a Necessity The rise of high-profile cyberattacks has led to increased demand for cyber insurance. In 2025, more organizations will turn to insurance policies to mitigate the financial risks of ransomware, data breaches, and other cyber incidents.

Cybersecurity

NetSpi Executives

APRIL 27, 2024

Victims pay ransomware adversaries for decryption keys through cryptocurrency, such as Bitcoin. Some can’t afford not to pay, and some are covered by cyber insurance. Should I get a ransomware cyber insurance policy? Many organizations have used cyber insurance to recover from ransomware attacks.

Ransomware

Pen Test

OCTOBER 10, 2023

Victims are instructed to pay a ransom payment, usually demanded in cryptocurrency, in exchange for the decryption key. Identify cyber insurance policies and ensure they align to business needs regarding ransomware attacks and data leaks. Businesses will need to demonstrate cyber risk management to get the best premiums.

Ransomware

Security Boulevard

JUNE 15, 2021

Ransomware attacks have continued to make headlines, and for good reason: on average, there is a new ransomware attack every 11 seconds, and the losses to organizations from ransomware attacks is projected to reach $20 billion over the course of 2021 following a record increase in losses of more than 225% in 2020.

Ransomware

Digital Shadows

NOVEMBER 26, 2024

Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. Compromised cloud storage can result in account breaches, data theft, or extortion in which attackers exploit reputational damage to demand ransoms.

Cyber Attacks

Spinone

OCTOBER 13, 2020

Ransom payments are generally demanded in the form of untraceable cryptocurrency such as Bitcoin. In fact, one report shows that business email compromises are 23% of cyber insurance claims. Ransom Payment The first obvious and tangible cost of ransomware is the actual ransom demanded by an attacker.

Ransomware

CyberSecurity Insiders

AUGUST 15, 2022

Ever wondered what is covered and what is not in your Cyber Insurance Policy? If not, you better review the guidelines and inform all your C-level employees on strategies to cope with the losses that remain out of the cyber insurance cover. Otherwise, the cyber insurer will not offer any policy coverage.

Cyber Insurance

Security Affairs

FEBRUARY 25, 2024

Uninstall it immediately Microsoft Exchange flaw CVE-2024-21410 could impact up to 97,000 servers ConnectWise fixed critical flaws in ScreenConnect remote access tool More details about Operation Cronos that disrupted Lockbit operation Cactus ransomware gang claims the theft of 1.5TB of data from Energy management and industrial automation firm Schneider (..)

Spyware

Security Affairs

NOVEMBER 5, 2023

CISA adds two F5 BIG-IP flaws to its Known Exploited Vulnerabilities catalog Threat actors actively exploit F5 BIG-IP flaws CVE-2023-46747 and CVE-2023-46748 Pro-Hamas hacktivist group targets Israel with BiBi-Linux wiper British Library suffers major outage due to cyberattack Critical Atlassian Confluence flaw can lead to significant data loss WiHD (..)

Cyber Insurance

SC Magazine

JUNE 21, 2021

Policy levers can include direct federal investment in baseline cybersecurity , regulations to improve baseline cybersecurity , more aggressive law enforcement and intelligence community takedowns of criminal infrastructure, and regulating cryptocurrencies. But such a scenario would be more reasonable for small- and medium-sized businesses.

Ransomware

CyberSecurity Insiders

JUNE 23, 2021

Meaning, those who are bowing down to the demands of hackers by making a ransomware payment in cryptocurrency- may take up a tax claim if all the payment procedure falls into the legal practice. . However, doesn’t this encourage crime and witness a rise in fake ransomware payments and SEC filing. .

Ransomware

ForAllSecure

MAY 30, 2023

of cryptocurrency. By no means. Does that mean that there was no ransomware occurring? It was still very active within the last year, just not at the volumes that we were seeing in previous years.

Ransomware

Adam Levin

DECEMBER 27, 2019

Cryptocurrency miners will continue to get rich off of stolen electricity. Related to the botnet craze, we will see an increase in computing power theft used to mine cryptocurrency. You’re going to have personal cyber insurance. Some states continue to use machines that leave no paper trail.

Cybersecurity