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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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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

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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Ransomware in 2020

Cytelligence

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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Cybersecurity in 2020

Cytelligence

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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34 Most Common Types of Network Security Protections

eSecurity Planet

Managed Detection and Response Product Guide Top MDR Services and Solutions Encryption Full disk encryption, sometimes called whole disk encryption, is a data encryption approach for both hardware and software that involves encrypting all disk data, including system files and programs.

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How to Recover From a Ransomware Attack

eSecurity Planet

We should encrypt data at rest. Paying for internal assessments and penetration tests by a third party can provide fresh thinking and a level of assurance for stakeholders such as customers, the board of directors, and the insurance company that wrote our cyber insurance policy.

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Simplifying the fight against ransomware: An expert explains

Malwarebytes

A solution that provides options for file recovery (in case something does get encrypted) Finally, these features are valuable for detecting and thwarting all malware , not just ransomware: Exploit prevention Behavioral detection of never-before-seen malware Malicious website blocking Brute force protection. I get that,” Kujawa says.