CyberSecurity Insiders

DECEMBER 9, 2021

Lloyd’s of London Insurance, simply known as Lloyd’s Insurance, has released a media update that it will no longer cover losses that were incurred because of cyber wars among nations. The post Insurance company says it will no longer cover state funded Cyber Attacks appeared first on Cybersecurity Insiders.

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Javvad Malik

AUGUST 22, 2022

Lloyds of London has told its members to exclude nation state cyber attacks from insurance policies beginning in 2023, saying they pose unacceptable levels or risk. So who will decide whether an attack is a nation state or just little Timmy trying to impress his friends on the Discord channel?

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eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

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Digital Shadows

JANUARY 22, 2025

Were thrilled to unveil our latest threat landscape report for the finance and insurance sector, offering in-depth analysis of the evolving cyber threats facing this industry. Stolen data is weaponized in double-extortion schemes, with ransom demands averaging $69 million.

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CyberSecurity Insiders

APRIL 1, 2021

CyberCube, a cyber analytics firm, claims that the rise in cyber-attacks on Microsoft servers could also increase cyber insurance claims filed by many companies. . The post Cyber attacks on Microsoft Exchange Email Servers could surge up cyber insurance claims appeared first on Cybersecurity Insiders.

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SecureWorld News

MARCH 17, 2025

Despite these setbacks, the company has stated that, with its cyber insurance coverage and ongoing remediation efforts, it doesn't expect a long-term material impact on its business fundamentals. The incident contributed to a short-term stock price dip of about 2% and added to operational expenses during the recovery phase.

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Security Boulevard

MARCH 3, 2021

In this part of the blog series on the connection between cybersecurity and insurance, we go through a real-life situation that demonstrates how insurance policies may or may not provide you the necessary coverage in the event of a cyber-attack. A Standalone Cyber Insurance Policy Isn’t Enough As discussed in our previous blog, a.

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SecureWorld News

DECEMBER 27, 2022

Cyber is the risk to watch, according to a Financial Times article in which insurer Zurich's top executive is quoted. What will become uninsurable is going to be cyber,” said Mario Greco, CEO at Zurich, one of Europe's biggest insurance companies, in the Dec. 26 article. The two sides later settled.

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Security Boulevard

AUGUST 25, 2022

announced that it will require its underwriters, globally, “to exclude catastrophic state-backed hacks from stand-alone cyber insurance policies” starting in March 2023. This elimination of cyber policies involving nation-state adversaries is not surprising. Last week, Lloyd’s of London Ltd.

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CyberSecurity Insiders

FEBRUARY 16, 2021

The intelligence committee, funded by South Korea’s National Assembly, has revealed that a cyber attack launched on Pfizer at the end of last year was launched by North Korean hackers to steal the intelligence of vaccine research that was co-sponsored by BioNTech.

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CyberSecurity Insiders

AUGUST 26, 2022

Lloyd’s London, one of the largest insurance services providers in the world, has disclosed that it is making amendments to its cyber insurance laws that will come into effect from March 2023. All insurance companies exclude the risks inferred from war like situations.

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Security Affairs

JANUARY 26, 2025

On February 21, a cyber attack disrupted IT operation of the healthcare organization, and more than 100 Change Healthcare applications were impacted. In early March, the Alphv/BlackCat ransomware gang claimed responsibility for the attack and added the company to its Tor leak site. . population.”

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IT Security Guru

JUNE 28, 2022

Enter cyber insurance. We insure almost everything – our homes, our cars, even our lives. At first glance, it seems odd that most businesses don’t insure against something as potentially devastating as cybercrime. Unfortunately, transferring traditional insurance models to the cyber-sphere isn’t an easy task.

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CyberSecurity Insiders

FEBRUARY 17, 2022

For all those companies who are planning to renew their cyber insurance policy or are in a procedure to take one, here’s a piece of information that might interest you. Most of the Cyber Insurance companies have excluded ‘Cyber War’ consequences from their policies. that’s insane….isn’t isn’t it? .

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Bleeping Computer

MAY 16, 2021

Branches of insurance giant AXA based in Thailand, Malaysia, Hong Kong, and the Philippines have been struck by a ransomware cyber attack. As seen by BleepingComputer yesterday, the Avaddon ransomware group claimed on their leak site that they had stolen over 3 TB of sensitive data from AXA's Asian operations. [.].

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Joseph Steinberg

AUGUST 5, 2021

Understanding the difference between the two is also essential when seeking to obtain – and when acquiring – cyber-liability insurance. First-party cyber-liability risks refer to risks that directly endanger an organization. First-Party Risks And Coverage.

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Security Affairs

DECEMBER 8, 2024

In 2023, upon discovering the cyber attack, the Anna Jaques Hospital took the impacted systems down and launched an investigation into the security breach. The hospital has 83 beds and a team of over 1,200 employees, including 200 physicians.

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Security Boulevard

SEPTEMBER 3, 2023

Cyber insurance offers financial protection and support in the event of a cyber attack, data breach, or other cyber-related incidents. Ironically, the security that insurance brings to policyholders stands in contrast to the shifting, dynamic state of the cyber insurance market in general.

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CyberSecurity Insiders

MARCH 18, 2021

After the SolarWinds cyber attack on Govt infrastructure, the government of United States seems to have taken Cybersecurity as a top priority to rectify any flaws that could make way to any future cyber attacks in the future. Maintain a senior management and board approved cyber insurance risk strategy. ·

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Cisco Security

SEPTEMBER 28, 2022

Lloyds of London have recently published a Market Bulletin 1 addressing the wording of cyber insurance policies to exclude losses arising from: “ state backed cyber-attacks that (a) significantly impair the ability of a state to function or (b) that significantly impair the security capabilities of a state. ”. Conclusion.

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Security Affairs

JANUARY 6, 2024

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 billion insurance claim for the losses caused by the NotPetya attack that took place in 2017. Merck had not taken out specific insurance to cover cyber attacks, it only had insurance coverage against general risks.

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CyberSecurity Insiders

FEBRUARY 4, 2021

All the leaked information can act as a treasure trove to hackers, as they can exploit the victims through insurance scams or can tamper with warranty information. The post Data of US Car company leaked in a Cyber Attack appeared first on Cybersecurity Insiders.

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Security Affairs

JANUARY 3, 2022

Which are the cyber attacks of 2021 that had the major impact on organizations worldwide in terms of financial losses and disruption of the operations? Federal Bureau of Investigation confirmed that the Colonial Pipeline was shut down due to a cyber attack carried out by the Darkside ransomware gang. Pierluigi Paganini.

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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.

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CyberSecurity Insiders

JUNE 21, 2023

Going forward, let us list out the victims who have been impacted by the attack after the hack-ers gained control of Moveit file transfer software worldwide, a business unit of Progress Software. The post List of victimized companies of MOVEit Cyber Attack appeared first on Cybersecurity Insiders.

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Security Affairs

OCTOBER 25, 2024

On February 21, a cyber attack disrupted IT operation of the healthcare organization, more than 100 Change Healthcare applications were impacted. In early March, the Alphv/BlackCat ransomware gang claimed responsibility for the attack and added the company to its Tor leak site.

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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.

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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. Can companies live without cyber insurance?

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Security Boulevard

JUNE 21, 2022

Is Cyber Breach Insurance part of your Cybersecurity roadmap? Is Cyber Breach Insurance part of your Cybersecurity roadmap? The post Is Cyber Breach Insurance part of your Cybersecurity roadmap? The post Is Cyber Breach Insurance part of your Cybersecurity roadmap? first appeared on SecureFLO.

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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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CyberSecurity Insiders

SEPTEMBER 29, 2021

London based Giant Group has confirmed that its IT infrastructure was suffering repercussions gained through a cyber attack on September 24th,2021 and all its phone, email and other payroll related servers were facing digital disruption.

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CyberSecurity Insiders

AUGUST 15, 2021

Car makers Toyota, Hyundai and Nissan are all set to form a consortium that will aim to fight cyber attacks on Connected Cars. And companies like Microsoft Japan, Trend Micro, NTT Communications, Sompo Japan Insurance and few other manufacturers like Panasonic and Denso are all set to join the campaign.

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Security Affairs

DECEMBER 28, 2022

The chief executive of insurance giant Zurich warns that cyber attacks, rather than natural catastrophes, will become uninsurable. Mario Greco, chief executive of insurer giant Zurich, has warned that cyber attacks will become soon “uninsurable.”. These people can severely disrupt our lives.”

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CyberSecurity Insiders

NOVEMBER 21, 2021

It is a known fact that some state funded hackers attacked the gas stations operating in Iran a few days back. The post Iran Mahan Air hit by Cyber Attack appeared first on Cybersecurity Insiders. Now, it appears to be a repeat of the incident with an airlines falling prey to the criminals this time.

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Security Affairs

OCTOBER 9, 2022

Lloyd’s of London launched on Wednesday an investigating into a possible cyber attack after having detected unusual activity on its network. ” The incident comes after the entire insurance industry was alerted of cyber attacks as a result of the ongoing conflict between Russia and Ukraine.

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Security Boulevard

JANUARY 8, 2023

There are dark clouds on the horizon as well as conflicting forecasts regarding cyber insurance in 2023 and beyond. Where will the insurance market go from here on cybersecurity coverage? The post Are Cyber Attacks at Risk of Becoming ‘Uninsurable’? appeared first on Security Boulevard.

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Security Affairs

APRIL 30, 2019

Aluminum producer Norsk Hydro estimated the cost of the massive attack cyber attack targeting the company in March at around $50 million. Dollar losses due to the NotPetya ransomware massive attack. The news of the cyber attack had an immediate economic impact and caused a drop in the share price of 2.0

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