Krebs on Security

JULY 24, 2018

Verizon also told the bank that the malware the attackers used to gain their initial foothold at the bank in the 2017 breach was embedded in a booby-trapped Microsoft Word document. “The serious brokers who are out there selling cyber insurance all say the same thing: Have an expert help you to write your policy,” she said.

Banking 202

Banking Insurance Computers and Electronics Cyber Insurance 202

Security Affairs

MAY 1, 2020

Anyway, the group explained that they did not encrypt the bank documents in February, because it “was at least incorrect during the world pandemic” The stolen data includes 4 million unique credit card records, and 140,000 allegedly belonging to USA citizens. Banco BCR has yet to disclose the security breach.

Ransomware 145

Ransomware Banking Cyber Insurance Advertising 145

Troy Hunt

MARCH 2, 2020

These were companies spanning all sorts of different industries; big tech, general infosec, antivirus, hosting, finance, e-commerce, cyber insurance - I could go on. We spent months preparing the document, regularly working until all hours to flesh it out as comprehensively as possible. The point is the net was cast very wide.

Data breaches 363

Data breaches Marketing Cyber Insurance InfoSec 363

Adam Levin

JUNE 30, 2020

High-profile entertainment law firm Grubman Shire Meiselas & Sacks suffered a one-two punch of infection via REvil ransomware followed by a dark web auction of the firm’s client documents. Preventing data breaches and implementing adequate cybersecurity safeguards was a daunting assignment even before the Covid-19 pandemic.

Ransomware 186

Ransomware Insurance Cyber Insurance Manufacturing 186

Security Affairs

FEBRUARY 8, 2024

Phishing Attacks: Phishing is the top cyber attack, causing 90% of data breaches. Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 million per breach.

Social Engineering 143

Social Engineering Cyber Attacks Cyber Insurance IoT 143

Malwarebytes

JANUARY 15, 2023

The schools, attacked by the group known as Vice Society, have had multiple documents leaked online in the wake of the attack. The school eventually realised that data had been stolen somewhere around the October 14, notifying the parents. Special Educational Needs (SEN) data. Contractual offers made to members of staff.

Ransomware 94

Ransomware Backups Education Cyber Insurance 94

SecureList

NOVEMBER 9, 2022

Given the continued surge of ransomware attacks, which soared 288% in the first half of 2022 alone, the need for cyber insurance will be a bigger priority, especially in the SMB market. As such, we anticipate a booming cyber insurance industry as many organizations heed these warnings and seek to guard against ransomware attacks.

Cybersecurity 143

Cybersecurity Cyber Insurance Cybercrime IoT 143

Malwarebytes

SEPTEMBER 12, 2022

For further reading, see this document. In addition to an EDR solution, we recommend cyber insurance to mitigate worst-case scenarios. Document systems pre- and post-patching. Documenting the state of your systems before and after a patch is applied is essential. Test the patch stability.

Cyber Insurance 90

Cyber Insurance Risk Insurance Data breaches 90

The Last Watchdog

APRIL 18, 2019

Imposing just the right touch of policies and procedures towards mitigating cyber risks is a core challenge facing any company caught up in digital transformation. Related: Data breaches fuel fledgling cyber insurance market. Enterprises, especially, tend to be methodical and plodding.

Digital transformation 113

Digital transformation Cyber Risk Risk Penetration Testing 113

eSecurity Planet

AUGUST 9, 2022

GDPR, the EU’s flagship data privacy and “right to be forgotten” regulation, has made the stakes of a data breach higher than ever. Further reading : Top Data Loss Prevention (DLP) Solutions Best Encryption Software Top 8 Cyber Insurance Companies Best Incident Response Tools and Software. In the U.S.,

Data privacy 145

Data privacy Encryption Data breaches Insurance 145

SC Magazine

JULY 2, 2021

An exterior view of the Anthem Health Insurance headquarters. About 80 million company records were accessed in one of the largest health care data breaches. Other major settlements stemmed from covered entities that failed to provide adequate breach notification.

Insurance 88

Insurance Cyber Insurance Data breaches Media 88

BH Consulting

JUNE 22, 2021

Often, they also want bidders to produce supporting documents like the executive summary of a penetration test report. Sometimes, contracts or proposals ask suppliers for both cybersecurity insurance and documented security controls. Like all insurance, though, there is good and bad.

Insurance 83

Insurance Cybersecurity Cyber Insurance Cyber Risk 83

Digital Shadows

OCTOBER 14, 2024

Major developments this quarter include “Play” transitioning from double-extortion tactics to targeting ESXi environments and the cybersecurity firm Fortinet experiencing a data breach in which 440GB of customer data was compromised. However, some cyber insurance policies explicitly forbid ransom payments.

Ransomware 94

Ransomware Social Engineering Insurance Cyber Insurance 94

SecureWorld News

NOVEMBER 22, 2021

In a BEC incident, you're almost certainly going to be handling a combination of: • wire transfers or other financial losses; • compromised sensitive information, such as employee or customer data; • potential email server and data breaches of unknown size; and • branding and reputation issues. BEC-IRP Section 2: Identification.

Scams 98

Scams Cybercrime Accountability Banking 98

SecureWorld News

JANUARY 21, 2024

The costs of recovering from such incidents, especially for smaller organizations without cyber insurance, can be devastating. Another cornerstone of any robust cybersecurity strategy is having regular data backups and maintaining them properly.

Cybersecurity 104

Cybersecurity Backups Cyber threats Antivirus 104

Pen Test

OCTOBER 10, 2023

With double extortion, the attackers not only lock up critical data and systems, but also threaten to publish sensitive documents, like customer records, financial statements, intellectual property, or personal emails, if the ransom goes unpaid. Businesses will need to demonstrate cyber risk management to get the best premiums.

Ransomware 52

Ransomware Backups Insurance Cyber Insurance 52

Centraleyes

APRIL 8, 2024

High-profile data breaches have made data protection and privacy a hot subject. Hackers use more sophisticated methods to break network defenses and steal sensitive data on a large scale. Malicious actors target personal data because of its value. The consequences of data breaches go beyond financial impact.

Data privacy 52

Data privacy Unstructured Data Data breaches Government 52

Centraleyes

MAY 6, 2024

A good use case of this model would be the underwriting industry using a ChatGPT-like bot to process insurance claims. The endorsement expands the definition of a security failure or data breach to include events caused by artificial intelligence. She types these seven words: “Is the claim covered by the policy?

Insurance 52

Insurance Artificial Intelligence Cyber Insurance Marketing 52

Spinone

OCTOBER 13, 2020

In IBM’s Cost of a Data Breach Report 2019 cited the following: Lost business is the biggest contributor to data breach costs The average cost of lost business in 2019 was $1.42 In fact, one report shows that business email compromises are 23% of cyber insurance claims.

Ransomware 52

Ransomware Backups Data breaches Encryption 52

Centraleyes

MARCH 19, 2024

A business continuity plan is the guiding document in responding to these disruptions. An effective IRP ensures swift and informed action, from data breaches to malware attacks. In the event of a security breach, an IRP ensures rapid response. Business Continuity Business continuity is synonymous with preparedness.

Risk 52

Risk Backups Technology Cyber Insurance 52

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. High-privileged accounts enhance attackers’ ability to access unauthorized data, potentially causing data breaches and operational disruptions.

Cyber Attacks 52

Cyber Attacks Phishing Ransomware Cyber Insurance 52

SC Magazine

MARCH 29, 2021

It can also help inform cyber insurers, who may choose to raise premiums for companies that can’t document where their code comes from.

Software 120

Software Hacking Government Cyber Insurance 120