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Ransomware: Number One Cyber Insurance Claim

SecureWorld News

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. The number one type of cyber incident so far this year is ransomware.

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Cloudflare Helps Businesses Manage Their Cyber Risk; Announces Partnerships with Leading Cyber Insurers and Incident Response Providers

CyberSecurity Insiders

NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it is partnering with leading cyber insurance companies to help businesses manage their risks online. As a result, some insurance companies have had to raise premiums to cover their costs.

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US Treasury Warns of Cybersecurity Risks AI Poses to Financial Sector

SecureWorld News

Department of Treasury on March 27th released a report titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector." The report highlights the growing concern around artificial intelligence (AI) and its potential to introduce new cybersecurity threats to the financial industry.

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Ransomware Protection in 2021

eSecurity Planet

The internet is fraught with peril these days, but nothing strikes more fear into users and IT security pros than the threat of ransomware. A ransomware attack is about as bad as a cyber attack can get. Jump to: What is ransomware? How ransomware works. Preventing ransomware. Ransomware attacks and costs.

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Ransomware Task Force of 60+ Members From Industry, Government, Law Enforcement, Civil Society, and International Organizations Publishes Comprehensive Framework to Combat Ransomware

CyberSecurity Insiders

Combating Ransomware – A Comprehensive Framework for Action provides 48 practical recommendations to curb the rampant spread of this increasingly destructive type of cybercrime. “In Ransomware is an international cybercrime that is multiplying in frequency and severity.

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Cyber-Liability Insurance 101: First Party Vs. Third Party Risks

Joseph Steinberg

First-party insurance, therefore, typically covers the costs of actions needed after a data breach, extortion, ransomware attack, or other hacker malfeasance. First-party insurers may also pay ransomware ransoms, for the costs of notifying customers of a data breach, and for lost business during incident-related downtime.

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Acrisure Broadens Platform with Cyber Services Division

CyberSecurity Insiders

.–( BUSINESS WIRE )–Acrisure, a fast-growing fintech leader that operates a top-10 global insurance broker, announced the formation of Acrisure Cyber Services. Businesses in every industry face complex cyber risk, particularly the millions of small and midsize companies comprising much of Acrisure’s client base.