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.

Cyber Insurance 114

Cyber Insurance Insurance Marketing Cyber Risk 114

The Hacker News

NOVEMBER 9, 2022

The rise in the costs of data breaches, ransomware, and other cyber attacks leads to rising cyber insurance premiums and more limited cyber insurance coverage. This cyber insurance situation increases risks for organizations struggling to find coverage or facing steep increases.

Cyber Insurance 79

Cyber Insurance Insurance Data breaches Cyber Attacks 79

CyberSecurity Insiders

FEBRUARY 17, 2023

Succession Wealth, a financial wealth management service offering company, has released a press statement that a cyber attack targeted its servers and it can only reveal details after the investigation gets concluded. Prima Facie revealed that hackers accessed no client data in the attack.

Cyber Attacks 129

Cyber Attacks Identity Theft Insurance Social Engineering 129

SecureWorld News

APRIL 17, 2023

When considering adding a cyber insurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyber insurance can help ensure compliance with these requirements. Let's break it down to the pros and cons.

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Cyber Insurance Insurance Risk CISO 96

Security Affairs

NOVEMBER 25, 2020

Belden, the manufacturer of networking and cable products, disclosed a data breach, threat actors have stolen employee and business information. “Our IT professionals were able to detect the unusual activity and believe we have stopped further unauthorized access of personal data on our servers.” Pierluigi Paganini.

Data breaches 104

Data breaches Cyber Attacks Manufacturing Banking 104

CyberSecurity Insiders

JULY 26, 2022

Policybazaar, the Indian Insurance companies that offer an array of online services to users seeking health and car insurance were targeted by hackers leading to a data breach. So, at this juncture, incidents such as these can put a permanent dent to their business expansion, as IRDAI doesn’t take data breaches lightly.

Cyber Attacks 112

Cyber Attacks Insurance Data breaches Mobile 112

CyberSecurity Insiders

JUNE 5, 2023

MOVEit produced by Progress Software is taking all precautions to mitigate the risks associat-ed with the incident and has informed the staff of Zellis on how to neutralize the effects of the cyber-attack. The post Zellis Cybersecurity Incident causes BA and Boots employee info data breach appeared first on Cybersecurity Insiders.

Data breaches 122

Data breaches Cybersecurity Insurance Ransomware 122

Cytelligence

OCTOBER 18, 2023

Cyber threats have become a significant concern for businesses of all sizes. The cost of cyber attacks, including financial losses, reputational damage, and legal consequences, can be staggering. To mitigate these risks, businesses often invest in cyber insurance. This is where CYPFER comes in.

Cyber Insurance 64

Cyber Insurance Insurance Passwords Cyber Attacks 64

CyberSecurity Insiders

APRIL 23, 2021

Microsoft Exchange Server Cyber Attack- Cyber Threat actors somehow infiltrated the email servers of Microsoft Exchange operating across the world through a vulnerability and accessed data of many government and private companies.

Cyber Attacks 145

Cyber Attacks Insurance Cyber Insurance Ransomware 145

CyberSecurity Insiders

NOVEMBER 15, 2022

Cyber Insurance premiums are becoming dearer and the reason for such a rise is claimed to be sophistication in attacks that are making mitigation and recovery expensive. Most companies are showing laxity in following basic cyber security hygiene, leading to a surge in cyber-attacks and data breaches.

Cyber Insurance 84

Cyber Insurance Insurance Marketing Data breaches 84

CyberSecurity Insiders

NOVEMBER 24, 2022

Australian government is all set to release a new portfolio of rules that order companies pay hackers for launching cyber-attacks. The program will be launched in January next year and was drafted to block state sponsored cyber attacks on Australian IT infrastructure.

Cyber Attacks 80

Cyber Attacks Insurance Data breaches Cyber threats 80

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. As cyber criminals mature and advance their tactics, small and medium businesses become the most vulnerable because they lack the capacity – staff, technology, budget - to build strong cyber defenses. The necessity for cyber-insurance coverage.

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Cyber Insurance Insurance Cyber Risk Authentication 77

Security Boulevard

MAY 11, 2022

Cyber-attacks are becoming more sophisticated and devastating, especially for small and medium enterprises (SMEs). With ransom demands rising and the cost of data breaches soaring, businesses are investing heavily in building their cyber defenses. However, cybersecurity is not bullet-proof.

Cyber Risk 52

Cyber Risk Insurance Authentication Risk 52

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.

Cyber Insurance 136

Cyber Insurance Insurance Ransomware Marketing 136

The Hacker News

JULY 6, 2023

As technology advances and organizations become more reliant on data, the risks associated with data breaches and cyber-attacks also increase. The introduction of data privacy laws, such as the GDPR, has made it mandatory for organizations to disclose breaches of personal data to those affected.

Cyber Insurance 90

Cyber Insurance Insurance Data privacy Data breaches 90

Security Affairs

NOVEMBER 22, 2021

Utah-based radiology medical center Utah Imaging Associates discloses a data breach that impacted 583,643 former and current patients. Utah Imaging Associates (UIA) discloses a security breach, on September 4, 2021 the company claims to have detected and blocked a cyber attack. Pierluigi Paganini.

Data breaches 96

Data breaches Identity Theft Healthcare Insurance 96

Security Boulevard

JUNE 26, 2023

Unfortunately, the increasing reliance on digital systems and capabilities has also attracted an ever-growing number of malicious actors seeking to defraud businesses through phishing , social engineering , or ransomware attacks. The end result of these types of cyber attacks are often highly public and damaging data breaches.

Data breaches 52

Data breaches Healthcare Telecommunications Financial Services 52

SC Magazine

MAY 24, 2021

In a report released May 20, the Government Accountability Office looked at how the private cybersecurity insurance market has developed over the past five yearsRich Baich is global chief information security officer for insurance giant AIG. Photo by Spencer Platt/Getty Images).

Cyber Insurance 94

Cyber Insurance Insurance Marketing Cyber Risk 94

Security Boulevard

FEBRUARY 7, 2022

Cybersecurity insurance is an absolute necessity for any business operating in the modern world. However, increasing demand and threats of attacks have made insurance companies much more hesitant to offer claims. The post 5 Reasons Companies Are Denied Cybersecurity Insurance | ARIA appeared first on Security Boulevard.

Insurance 98

Insurance Cybersecurity Cyber Attacks Data breaches 98

Duo's Security Blog

OCTOBER 7, 2022

In this blog, we explain why it makes sense for these firms to work with managed service providers (MSPs) to help bolster their security posture and increase their chances of getting cyber liability insurance cover as insurers continue to raise the bar. Small business cyber insurance: Is it really needed?

Small Business 76

Small Business Cyber Insurance Insurance Cyber Risk 76

SecureWorld News

MARCH 3, 2021

This is just more proof that cyber risk is a business risk. Operational impact of the data breach. It also included detailed information on the data breach and how that impacted the operations of the company. "As Incident response to the data breach. Financial impact of the data breach.

Data breaches 82

Data breaches Technology Healthcare Insurance 82

Security Affairs

MARCH 17, 2024

Every week the best security articles from Security Affairs are free for you in your email box. Enjoy a new round of the weekly SecurityAffairs newsletter, including the international press.

Data breaches 112

Data breaches Computers and Electronics Cybercrime Ransomware 112

Security Affairs

MAY 1, 2023

Bitmarck, one of the largest IT service providers for social insurance carriers in Germany, announced yesterday that it has suffered a cyber attack. The incident impacted statutory health insurance companies that have their IT operated by BITMARCK. “BITMARCK has identified a cyber attack.

Insurance 88

Insurance Data breaches Cyber Attacks Education 88

Security Affairs

DECEMBER 18, 2019

Lab test provider LifeLabs has disclosed a data breach that exposed personal information for up to 15 million Canadians. LifeLabs notified its customers via letter, exposed data includes names, contact information, health card numbers, and for approximately 85,000 customers their lab test results. ” said Brown.

Data breaches 62

Data breaches Identity Theft Insurance Advertising 62

SecureWorld News

DECEMBER 14, 2023

Unidentified attackers gained unauthorized access to Fred Hutch's clinical network, compromising the personal information of an estimated 800, 000 patients. This information included names, Social Security numbers, phone numbers, medical history, lab results, and insurance history.

Cyber Attacks 86

Cyber Attacks Healthcare Identity Theft Insurance 86

Security Affairs

OCTOBER 30, 2018

In a letter sent to members, Christina Salcido, vice president of mission operations for GSOC, confirmed that attackers may have accessed to names, birth dates, home addresses, insurance policy numbers and health history for some members. Experts warn of possible social-engineering-based cyber attacks leveraging the exposed info.

Data breaches 82

Data breaches Social Engineering Advertising Insurance 82

SecureWorld News

APRIL 5, 2021

The beverage company recently gave investors an update on data breach recovery and material impacts: "Molson Coors has made substantial progress in restoring its systems following the recent cybersecurity incident. We also have notified and are working with all of our relevant insurance companies.".

Data breaches 88

Data breaches Insurance Cybersecurity Government 88

Security Affairs

JANUARY 23, 2024

The man is responsible for the cyber attacks that in 2022 hit the Australian insurance provider Medibank. “This morning I can announce that Australia has used cyber sanctions powers for the very first time on a Russian individual for his role in the breach of the Medibank Private network. .

Government 104

Government Insurance Ransomware Hacking 104

Security Boulevard

JULY 17, 2021

The CNA ransomware attack that made the news in March this year has an extension to the story. The insurance giant revealed that the organization suffered a data breach following the ransomware attack. The post 75,000+ Customers Affected in CNA Ransomware Attack appeared first on Kratikal Blogs.

Ransomware 133

Ransomware Insurance Data breaches Cyber Attacks 133

Malwarebytes

OCTOBER 27, 2022

Australian health care insurance company Medibank confirmed that the threat actor behind a cyberattack on the company had access to the data of at least 4 million customers. Until the investigation has verified the full extent of the stolen data, it is hard to establish whether your data have been stolen.

Cyber Attacks 72

Cyber Attacks Insurance Cybercrime Phishing 72

CyberSecurity Insiders

JANUARY 8, 2022

SALT LAKE CITY–( BUSINESS WIRE )–Medical Review Institute of America (“MRIoA”), an organization providing clinical peer reviews, on behalf of some of its health plan, health care provider and other customers, is notifying certain individuals whose information was affected by a recent data security incident.

Data breaches 78

Data breaches Identity Theft Accountability Insurance 78

CyberSecurity Insiders

JUNE 3, 2022

An increase in cyber attacks in volume on businesses operating in the healthcare sector was also observed between 2020-2021. And even if they take such companies undercover, they exclude data breaches from their insurance backup as it involves a lot of risks that do not qualify in equilibrium with the payment made to the policy.

Healthcare 120

Healthcare Ransomware Insurance Backups 120

Spinone

DECEMBER 8, 2016

Cybersecurity is often overlooked by small business, but over 60% of cyber attacks are targeted at small to medium-sized businesses. This can also be one of the reasons behind insufficient security practices with many businesses not realising the full effect of a data breach or ransomware attack until it is too late.

Insurance 40

Insurance Small Business Backups Cyber Insurance 40

Security Affairs

APRIL 29, 2019

However, we believe that it is the first time a breach of this size has included peoples’ names, addresses, and income. This open database is a goldmine for identity thieves and other attackers. Here’s how: Cyber Attacks. Why This Data Breach is Different. SecurityAffairs – US Households, Data leak).

Data breaches 91

Data breaches Internet Internet VPN 91

Cytelligence

OCTOBER 9, 2023

The Growing Importance of Cybersecurity in California’s Healthcare Industry Cyber attacks are increasing in frequency and sophistication. The healthcare industry is a prime target for cybercriminals due to the vast amounts of valuable data it possesses.

Healthcare 64

Healthcare Cybersecurity Cyber Attacks Cyber threats 64

SecureWorld News

APRIL 5, 2021

The beverage company recently gave investors an update on data breach recovery and material impacts: "Molson Coors has made substantial progress in restoring its systems following the recent cybersecurity incident. We also have notified and are working with all of our relevant insurance companies.".

Data breaches 52

Data breaches Cybersecurity Insurance Government 52

Malwarebytes

JANUARY 26, 2022

Due to the evolving and growing impact of cybersecurity incidents there are some questions starting to arise about the way that insurance companies deal with the costs that are the results of such incidents. But cyber insurance comes in different flavors and sizes. Pharmaceutical giant Merck & Co. Merck suffered US$1.4

Insurance 84

Insurance Cyber Insurance Ransomware Data breaches 84