CSO Magazine

MAY 15, 2023

Companies with cyber insurance are more likely to get hit by ransomware, more likely to be attacked multiple times, and more likely to pay ransoms, according to a recent survey of IT decision makers. To read this article in full, please click here

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SecureWorld News

MAY 9, 2023

While most of the payment was covered by insurance, County officials did not disclose the details of the remaining $600,000 paid to the hacker. On one hand, paying the ransom is a quick and easy way to regain access to encrypted files—albeit no guarantee. Should organizations be required to have cyber insurance?

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Cyber Insurance Insurance Ransomware Encryption 87

Thales Cloud Protection & Licensing

MAY 9, 2022

While implementation of security technologies such as multi-factor authentication and encryption have slightly increased, we have not yet reached the level where the majority of applications, data and operational technology are fully protected. Cyber insurance coverage ramps up. Todd Moore | VP, Encryption Products.

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Cyber Insurance Insurance Backups Ransomware 71

CyberSecurity Insiders

JULY 29, 2022

Hive Ransomware group has reportedly locked down a school from digital access and is demanding £500,000 to free up data from encryption. Yes, what is being read is true as Wootton Upper School in Bedfordshire-part of Wootton Academy Trust was victimized by the file encrypting malware spreading gang and are adamant in their demand.

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Ransomware Cyber Insurance Social Engineering Education 122

Malwarebytes

JULY 11, 2022

TikTok is “unacceptable security risk” and should be removed from app stores, says FCC Google to delete location data of trips to abortion clinics IconBurst software supply chain attack offers malicious versions of NPM packages Discord Shame channel goes phishing Verified Twitter accounts phished via hate speech warnings Apple Lockdown (..)

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Cyber Insurance Insurance Spyware Healthcare 75

eSecurity Planet

JULY 12, 2022

Screens then started to display a ransom demand, which said files had been encrypted by the NetWalker ransomware virus. Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. The ransom demand was $3.6

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Security Affairs

AUGUST 21, 2020

.” According to the University, the ransomware encrypted only 0.02% of the data stored on its servers. University of Utah officials explained that the university’s cyber insurance policy covered part of the ransom. ” continues the statement.

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Ransomware Cyber Insurance Insurance Advertising 144

CyberSecurity Insiders

DECEMBER 29, 2022

In one of the strange decisions taken by Ohio Supreme Court over a previous judgement pronounced earlier by Ohio Second District Court, the law stated that there must be a direct physical loss or damage to a company in the event of a file encrypting malware disaster.

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Software Ransomware Insurance Cyber Insurance 99

Security Affairs

FEBRUARY 21, 2023

For those who have cyber insurance against ransomware attacks. Insurance companies require you to keep your insurance information secret, this is to never pay the maximum amount specified in the contract or to pay nothing at all, disrupting negotiations. Very important! reads the ransom note.

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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. Lloyd’s of London.

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Insurance Cyber Insurance Ransomware Data breaches 84

SecureWorld News

AUGUST 18, 2020

Hackers encrypted some files. Here is Carnival Corporation's ransomware and cyber incident statement, in full: On August 15, 2020, Carnival Corporation and Carnival plc (together, the "Company," "we," "us," or "our") detected a ransomware attack that accessed and encrypted a portion of one brand’s information technology systems.

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Cyber Insurance Ransomware Insurance Technology 82

Webroot

SEPTEMBER 7, 2023

This is all happening while companies are spending trillions digitizing their business operations and trying to obtain secure cyber insurance while keeping up with regulatory changes in GDPR, HIPAA, and Sarbanes-Oxley. The best way to weather these challenges is to become a cyber resilient business.

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Encryption Cyber Insurance Cybercrime Phishing 89

CyberSecurity Insiders

JANUARY 26, 2022

Merck was one of the company that was targeted by the said file encrypting malware gang. The pharmaceutical company thought that its cyber insurance will cover the incurred losses and so tried its best to recover from the consequences by diverting its annual budgetary funds for the damaged IT infrastructure.

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Ransomware Insurance Cyber Insurance Hacking 112

CyberSecurity Insiders

APRIL 19, 2022

And that about 30% of them have sought cyber insurance as a cover to business loss, just in case another digital assault strikes them. Means, they are just interested in freeing up their data from encryption, instead of proactively investing on threat monitoring and detection tools.

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Ransomware Cyber Insurance Insurance Cryptocurrency 120

eSecurity Planet

OCTOBER 18, 2022

However, even with the best planning, organizations can find a few users, machines, or systems that were overlooked or whose backup may be corrupted or encrypted. First, call the cyber insurance company that issued the organization’s cybersecurity policy. How Does Ransomware Encryption Work?

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CyberSecurity Insiders

SEPTEMBER 21, 2021

But we never think or bother about the hidden/unexpected costs that a file encrypting malware attack brings with it. As soon as we hear or read about a ransomware attack on a company, we are in a state of mind that the business needs to pay only the ransom in order to avoid a loss to its data continuity on a permanent loss.

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eSecurity Planet

OCTOBER 18, 2021

” Cyber Insurance No Longer Reliable. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out.

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Krebs on Security

AUGUST 29, 2019

26, and encrypted dental records for some — but not all — of the practices that rely on DDS Safe. Original story: However, some affected dental offices have reported that the decryptor did not work to unlock at least some of the files encrypted by the ransomware. PercSoft did not respond to requests for comment.

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Backups Ransomware Insurance Encryption 220

Thales Cloud Protection & Licensing

NOVEMBER 9, 2021

Shared responsibility is about controlling your own security – anything from data encryption to managing the encryption keys. Having full control and access to the encryption keys places more trust and confidence on leveraging the powers of the cloud. This is exactly why organizations like Thales and Google are working together.

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Cloud Migration Insurance Digital transformation Cyber Insurance 123

Security Affairs

MAY 1, 2020

The hackers claim to have compromised the Banco BCR’s network in August 2019, and had the opportunity to exfiltrate its information before encrypting the files. Maze Ransomware ransomware operators recently disclose other attacks against different organizations, including IT services giant Cognizant , and cyber insurer Chubb.

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CyberSecurity Insiders

JUNE 10, 2021

The meat processing business firm that is a subsidiary of Brazilian Firm JBS SA had to lose a day-long production of beef, lamb, pork, and chicken as a result of the file-encrypting malware attack.

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CyberSecurity Insiders

APRIL 23, 2021

Harris Federation Cyber Attack- A ransomware attack targeted educational institute Harris Federation disrupting online studies and correspondence to nearly 37K students in March 2021. USA’s largest cyber insurance provider CNA Financial suffered a ransomware attack on March 21st,2021 forcing the company to shut down its services for few days.

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CyberSecurity Insiders

JUNE 24, 2021

The International Information System Security Certification Consortium (ISC)², has made an official announcement that its Professional Development Institute(PDI) Courses related to ransomware: Identity, protect, defend and recover will be available for free of cost until July 31st this year.

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The Last Watchdog

OCTOBER 5, 2023

Byron: It’s gone from simple file encryption to multifaceted, multi-staged attacks that leverage Dark Web services, such as initial access brokers (IABs,) as well as make use of Living off the Land (LotL) embedded tools. Erin: Do you think cyber insurance should play a bigger role in companies’ cybersecurity strategies?

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Cyber threats Cyber Insurance Cybersecurity Threat Detection 203

Thales Cloud Protection & Licensing

FEBRUARY 15, 2023

Double extortion ransomware is a growing type of cyber-attack in which a victim’s sensitive data is first stolen, and then encrypted, giving the criminal the option of demanding two separate ransom payments. Simplistically, suppose the sensitive data is already encrypted. To learn more, contact an encryption specialist.

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Ransomware Encryption Backups Cyber Insurance 71

CyberSecurity Insiders

OCTOBER 24, 2022

And, compared to global norms, these statistics are higher than average, indicating that education is a ripe target: “the education sector is poorly prepared to defend against a ransomware attack, and likely lacks the layered defenses needed to prevent encryption if an adversary does succeed in penetrating the organization.” Cyber insurance.

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Education Cyber Attacks Cyber Insurance Insurance 58

Hacker Combat

JULY 31, 2020

Carry Cyber Insurance. This makes carrying a cyber insurance policy with a reputable carrier a good idea. In addition to providing vital financial assistance in the wake of a data breach, cyber insurers scrutinize your security arrangements before agreeing to issue a policy. This must be addressed head-on.

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Malwarebytes

MARCH 10, 2021

This quickly became a mess of arguments over paying the ransom , and the world of cyber insurance and whether it would actually insure against these types of attacks. Whereas typical ransomware attacks involve encryption of all available files. This time it’s personal.

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Ransomware Insurance Cyber Insurance Social Engineering 120

Cytelligence

JANUARY 27, 2020

Cybercriminals or threat actors release a kind of malware which enters a computer system or network through fraudulent means and locks down files from access by encrypting them until a demanded ransom is paid to hackers in return for a decryption key. The need for cyber insurance for companies will increase significantly in 2020.

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Malwarebytes

DECEMBER 20, 2022

The typical game plan is to encrypt files, and then threaten to leak files if their demands are not met. A little recovery time Don’t wait until ransomware is in your network and encrypting everything to ask if someone has a backup. Has it already been encrypted by your business to prevent network intruders taking a peek?

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SiteLock

AUGUST 27, 2021

A list of encryption resources, cyber insurance considerations and forensics basics. Read the OTA’s 2015 Data Protection and Breach Readiness Guide , which also includes additional statistics on the current state of cyber security, in its entirety.

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Data breaches Cyber Insurance Data privacy Insurance 40

Malwarebytes

SEPTEMBER 30, 2022

Take cyber insurance , for example. Cyber insurance can prevent local governments from having to pay huge out of pocket costs in the event that they’re hit with a cyberattack. Data encryption for data at rest and in transit. Baltimore learned this the hard way. (An Enhanced logging.

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CyberSecurity Insiders

OCTOBER 26, 2022

While many equate ransomware with encrypted files and potential ransom payments, the consequences go even further in terms of the costs and requirements of an organization. From a budgetary standpoint, ransom payments and cyber insurance premiums have continued to rise over time. The Dangers of Ransomware Attacks.

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SecureWorld News

DECEMBER 2, 2020

We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. What data is encrypted or stolen? Relying on cyber liability insurance during a ransomware attack. The only way around the publishing of the data is to pay the attackers. "We

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Cyber Insurance Insurance Ransomware Backups 53

eSecurity Planet

AUGUST 9, 2022

M]uch of InfoSec management falls back on employee training and avoiding employee error – particularly with respect to phishing , spear phishing, and encryption lapses.”. Trotter further argued that encryption of Anthem’s data at rest would have offered only minimal security benefits and would not have prevented the hack.

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SecureWorld News

JANUARY 21, 2024

Remember, sometimes a little common sense goes a lot further than the fanciest encryption out there. Ransomware is another significant threat, where attackers encrypt an organization's data and demand payment for its release. The key here is implementing smart, affordable cybersecurity strategies that work best for nonprofits.

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Cybersecurity Backups Cyber threats Software 89

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.

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Cybersecurity Cyber Insurance Insurance Ransomware 65