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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

Ransomware attacks have become a significant threat to organizations of all kinds worldwide, with attackers encrypting data and demanding payment for its release. In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network.

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A week in security (July 4 – July 10)

Malwarebytes

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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Building a Cyber Resilient Business: The Protection Layer

Webroot

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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How to Decrypt Ransomware Files – And What to Do When That Fails

eSecurity Planet

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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After Springhill: Assessing the Impact of Ransomware Lawsuits

eSecurity Planet

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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Security Compliance & Data Privacy Regulations

eSecurity Planet

Healthcare Data Privacy Laws. Luria said the increasingly common practice in highly regulated industries (such as financial services and healthcare) is to create and implement their own customized database solutions and tie them to their particularized IT compliance requirements. Health data and patient data in the U.S.

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The 2022 ThreatLabz State of Ransomware Report

Security Boulevard

Double-extortion attacks, which include data exfiltration in addition to encryption, are rising even faster at 117% year-over-year. Some industries saw particularly high growth of double-extortion attacks, including healthcare (643%), food service (460%), mining (229%), education (225%), media (200%), and manufacturing (190%).