SC Magazine

MARCH 24, 2021

Insurance firm CNA Financial, a prominent provider of cyber insurance, confirmed a cyberattack against its systems, which has some concerned that cybercriminals may target policyholders. Moreover, understanding the “scope of the incident, with the type and volume of data impacted, is paramount when a cyber incident occurs.

Cyber Insurance 128

Cyber Insurance Insurance Hacking Ransomware 128

SC Magazine

MAY 24, 2021

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

Cyber Insurance 94

Cyber Insurance Insurance Marketing Cyber Risk 94

Adam Levin

AUGUST 26, 2019

The data breach of Capital One was big news, but it was also a familiar story: a major financial company with the budget and means to secure its data didn’t bother to do so, and the personal information of over a hundred million of its customers and applicants was exposed. Cloudy with a Chance of Client Error.

Data breaches 142

Data breaches Cyber Insurance Hacking Insurance 142

SC Magazine

JULY 13, 2021

million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 The Fortified Health report is meant to support health care covered entities in light of the ongoing threats and the rise in data breach numbers. More than 22.8

Data breaches 113

Data breaches Insurance Healthcare Education 113

Joseph Steinberg

AUGUST 5, 2021

Likewise, cyber insurance policies for individuals are starting to appear in the marketplace. Remember, a cyber-insurance policy is a legal contract – it is absolutely essential that policyholders adhere to policy requirements or they may find their otherwise valid claims denied should a cybersecurity incident occur.

Insurance 258

Insurance Cyber Insurance Artificial Intelligence Ransomware 258

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 113

Insurance Cyber Insurance Ransomware InfoSec 113

SC Magazine

FEBRUARY 8, 2021

The relationship between enterprises and insurers, like the cyber insurance market itself, is evolving. That’s quite the incentive for insurers to assert themselves in this market. Every sector has suffered breaches and no nation can claim to have been spared.”. appeared first on SC Media. A maturing model.

Insurance 126

Insurance Cyber Insurance Cybersecurity Government 126

SecureWorld News

NOVEMBER 12, 2020

First, however, let's look at the top 15 cyber threats organizations face right now, according to the report: Malware. Data Breach. Cyber Espionage. So that is the top 15 list of cyber threats according to the European Union. Web-based Attacks. Web Application Attacks. Distributed Denial of Service (DDoS).

Cyber threats 137

Cyber threats Insurance Cyber Insurance Malware 137

Security Boulevard

MAY 12, 2022

Insurance carriers will offer a variety of different policies and coverage, including: Costs associated with an actual data breach, including letters to all affected victims. Cost to repair victims’ credit report and cost for external communications to the media. What Is Not Covered Under Cyber Insurance?

Cyber Insurance 105

Cyber Insurance Insurance Marketing Firewall 105

Hacker Combat

JULY 31, 2020

Yes, system incursions upon the likes of Microsoft, Estee Lauder and T-Mobile get the lion’s share of media attention, however cybercriminals hungrily eye higher-volume smaller targets as well. Carry Cyber Insurance. This makes carrying a cyber insurance policy with a reputable carrier a good idea.

Cybersecurity 69

Cybersecurity Cyber Insurance Insurance Data breaches 69

SC Magazine

MARCH 12, 2021

Jack Kudale, founder and CEO of Cowbell Cyber, said it may make a lot of sense for security vendors to bundle warranty and even cyber insurance with their products. Security is only as strong as the weakest link between a hacker and the sought-after system or data. Security pros think Deep Instinct’s approach has promise.

Ransomware 87

Ransomware Cyber Insurance Insurance Marketing 87

SC Magazine

FEBRUARY 10, 2021

The Cybersecurity and Infrastructure Security Agency (CISA) recently included security ratings or scoring as part of its cyber risk reduction initiative. There are forward-leaning cyber insurers that are using cyber ratings to help them price cyber insurance they’re underwriting.

Cyber Insurance 83

Cyber Insurance Insurance Cyber Risk Government 83

Adam Levin

DECEMBER 26, 2018

If you doubt it, consider the recent Chubb survey , which found a 930% increase in cyber insurance claims filed by businesses alongside this: 75% of respondents believing that their companies had “excellent” or “good” cybersecurity practices. Businesses need to be great when it comes to breach response times.

Computers and Electronics 130

Computers and Electronics Government Cyber Insurance Hacking 130

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

SC Magazine

MAY 28, 2021

Indeed, during a panel moderated by SC Media , two government officials, one with the FBI and one with the Department of Justice, pointed to the Colonial Pipeline when asked to choose the most significant cyber event to occur in the last year. The post Three takeaways from the Colonial Pipeline attack appeared first on SC Media.

Insurance 117

Insurance Government Ransomware Risk 117

Spinone

DECEMBER 8, 2016

Many small businesses do not realize that they are vulnerable to hackers, perhaps because they don’t realise they have data worth stealing. 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

Pen Test

OCTOBER 10, 2023

Double extortion introduces catastrophic risks of data breach and loss of customer trust if sensitive information gets leaked publicly. Even just the notification of a data breach can harm an organization's reputation and bottom line. Prepare crisis communications plans for leadership, customers, media, and partners.

Ransomware 52

Ransomware Backups Insurance Cyber Insurance 52

Cytelligence

FEBRUARY 4, 2020

The 2019 Cybersecurity Almanac published by Cisco and Cybersecurity Ventures predicts that cyber events will cost $6 trillion annually by 2021, as companies are digitizing most of their processes and are often operating remotely. Global cyber insurance premiums are expected to grow from $4 billion in 2018 to $20 billion by 2025.

Penetration Testing 45

Penetration Testing Insurance Data preservation Cyber Insurance 45

Security Boulevard

JANUARY 18, 2024

The primary target and focus for nation-states will continue to be their adversaries Critical Infrastructure sectors, such as healthcare, government, communications, transportation, defense industrial base, media, utilities, finance, and cargo logistics. Recovery from supply chain attacks will cost 3x-5x more as compared to data breaches.

Risk 114

Risk Cybersecurity CISO Technology 114

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 131

Cyber Insurance Insurance Marketing Cyber Risk 131

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

ForAllSecure

MAY 17, 2023

Chris Gray of Deep Watch talks about the view from the inside of a virtual SOC, the ability to see threats against a large number of SMB organizations, and the changes to cyber insurance we’re seeing as a result. So from software, media, everything else of that nature. cyber insurance as a whole was changing heavily.

Internet 40

Internet Internet Insurance Cyber Insurance 40

CyberSecurity Insiders

APRIL 23, 2021

Poisoning a Florida based water utility through Cyber Attack- Hackers somehow infiltrated a Florida based water utility to increase the amount of Sodium Hydroxide in the water supply to dangerous level making the staff take the help of FBI to track down the culprits.

Cyber Attacks 145

Cyber Attacks Insurance Cyber Insurance Ransomware 145

Jane Frankland

DECEMBER 7, 2023

It’s likely we’ll continue to witness a significant shift in the motivation behind prominent cyberattacks, as data sources indicate a resurgence in activities such as information theft, covert communication monitoring, and content manipulation from state sponsored attackers and cybercriminals. The first is by rule making.

Cybersecurity 130

Cybersecurity Cyber threats Insurance IoT 130

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. Though there will continue to be breaches and we’re going to continue to have problems, we actually do know what to do to build secure software. Now it’s up to us all as a society to do it.”.

Software 120

Software Hacking Government Cyber Insurance 120

Adam Levin

DECEMBER 27, 2019

fewer of you to go around because at this moment in history everyone understands that a good CISO is critical to the ongoing success of an enterprise (the 2019 IBM Cost of Data Breach study found that the average cost to an organization was $3.92 5G will make the cyber smash grab a thing. But it totally could.).

Cybersecurity 100

Cybersecurity CISO IoT Insurance 100

Adam Levin

MARCH 2, 2020

And it wasn’t because the media paid more attention to this relative newcomer in the area of cybercrime. Get Covered: I’ve said it before and I’ll say it again: Cyberattacks and data breaches have become the third certainty in life after death and taxes. Don’t be the next Heritage Company.

Cyber threats 215

Cyber threats Ransomware Encryption Insurance 215