Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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Security Affairs

AUGUST 21, 2020

The University of Utah admitted to have paid a $457,059 ransom in order to avoid having ransomware operators leak student information online. The university did not reveal the ransomware family involved in the attack. ” According to the University, the ransomware encrypted only 0.02% of the data stored on its servers.

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Ransomware Cyber Insurance Insurance Advertising 145

SC Magazine

MAY 19, 2021

Today’s special columnist, Scott Register of Keysight Technologies, says government and industry must come together to secure the nation’s critical infrastructure in the wake of the Colonial Pipeline hack. That in itself has evolved, as insurers and insured learn just how expensive that fallout can be.

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Cyber Insurance Insurance Marketing Ransomware 102

CyberSecurity Insiders

NOVEMBER 15, 2022

Cyber Insurance premiums are becoming dearer and the reason for such a rise is claimed to be sophistication in attacks that are making mitigation and recovery expensive. Most companies are showing laxity in following basic cyber security hygiene, leading to a surge in cyber-attacks and data breaches.

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Cyber Insurance Insurance Marketing Ransomware 84

Security Affairs

FEBRUARY 6, 2021

Packaging giant WestRock revealed this week that the recent ransomware attack impacted the company’s IT and operational technology (OT) systems. The company reported the ransomware attack to law enforcement and notified its customers. The company is responding to the incident with the help of leading cyber defense firms.

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Ransomware Insurance Cyber Insurance Technology 145

eSecurity Planet

JULY 12, 2022

The first signs of the ransomware attack at data storage vendor Spectra Logic were reports from a number of IT staffers about little things going wrong at the beginning of the day. Screens then started to display a ransom demand, which said files had been encrypted by the NetWalker ransomware virus. Cyber Insurer Provides Help.

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Ransomware Cyber Insurance Backups Insurance 144

Adam Levin

JUNE 30, 2020

We’re not even halfway through 2020, and already it’s been a record-breaking year for ransomware attacks. No industry, category, size, or group is safe from this cyber scourge. Millions of inboxes have been hit with a variant of Avaddon ransomware. In fact, what may matter more is how easy you are to hack.

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Ransomware Insurance Cyber Insurance Manufacturing 186

CyberSecurity Insiders

FEBRUARY 21, 2023

All these days we have read about ransomware spreading groups stealing data and then threatening to release it online, if the victim fails to pay heed to their demands. But now a new file encrypting malware variant has emerged onto the block that demands ransom, based on the insurance cover.

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Insurance Ransomware Cyber Insurance Encryption 124

Security Affairs

JUNE 5, 2020

ST Engineering is the last victim of the Maze Ransomware operators that published their data on their leak website. The Maze ransomware operators announced the release of stolen data on their leak site. SecurityAffairs – Maze ransomware, cybersecurity). ” reads the post published by the experts. Pierluigi Paganini.

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Engineering Ransomware Cyber Insurance Advertising 145

Security Affairs

MAY 1, 2020

Maze Ransomware operators claim to have gained access to the network of Banco BCR of Costa Rica and stolen 11 million credit card credentials. Maze Ransomware operators claim to have hacked the network of the state-owned Bank of Costa Rica Banco BCR and to have stolen internal data, including 11 million credit card credentials.

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Ransomware Banking Cyber Insurance Advertising 145

CyberSecurity Insiders

JANUARY 26, 2022

Merck, the Pharma giant from New Jersey, has won a legal battle with its insurer for covering costs related to the NotPetya ransomware attack that crippled its computer networks to the core incurring losses in millions. Moving ahead into the details, the year 2017 witnessed many companies falling prey to NotPetya ransomware hackers.

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Ransomware Insurance Cyber Insurance Hacking 112

Schneier on Security

MARCH 8, 2019

This will complicate things: To complicate matters, having cyber insurance might not cover everyone's losses. Zurich American Insurance Company refused to pay out a $100 million claim from Mondelez, saying that since the U.S.

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Insurance Cyber Insurance Cybersecurity Government 212

Security Affairs

JUNE 18, 2024

Over the last few years, ransomware attacks have become one of the most prevalent and expensive forms of cybercrime. Today, this tactic has evolved, where ransomware operators in nearly every case first exfiltrate sensitive data and then threaten to publicly expose it if a ransom demand is not paid.

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Ransomware Cryptocurrency Insurance Cybercrime 141

CSO Magazine

NOVEMBER 17, 2022

It’s painfully obvious at this point that ransomware continues to grow in popularity. As Fortinet’s FortiGuard Labs team found, the number of new ransomware variants doubled in just the first half of 2022 compared to the previous six-month period. Cyber insurance can also be a double-edged sword.

Cyber Insurance 91

Cyber Insurance Ransomware Insurance Hacking 91

Security Affairs

DECEMBER 2, 2020

was hit by Ryuk ransomware in the middle of November and now has paid a ransom to avoid data leak. has paid a ransom to the ransomware operators after the gang infected its systems in November. Bleeping Computer has learned aware that K12 was hit by Ryuk ransomware and K12 paid the ransom utilizing their cyber insurance.

Education 145

Education Cyber Insurance Insurance Ransomware 145

CyberSecurity Insiders

DECEMBER 26, 2022

Insurance companies like Lloyd offer cyber insurance policies that cover a business from facing a business loss during a cyber-attack. However, in coming days, cyber attacks will become uninsurable, as per Mario Greco, the Chief of Zurich Insurance. So, will cyber insurance vanish with time?

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Insurance Cyber Attacks Cyber Insurance Ransomware 129

Security Affairs

FEBRUARY 21, 2023

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. The HardBit ransomware group first appeared on the threat landscape in October 2022, but unlike other ransomware operations, it doesn’t use a double extortion model at this time. Very important!

Insurance 98

Insurance Ransomware Cyber Insurance Malware 98

SecureWorld News

SEPTEMBER 23, 2021

This includes the fight against ransomware. His unique insights around cybersecurity-related topics shine a light on ransomware risk for organizations, government agencies, and the public. This ranges from Secret Service agents discussing elements of cyber hygiene with those they protect to tracking down cybercrime fugitives.

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Ransomware Cyber Insurance Insurance Government 95

The Last Watchdog

SEPTEMBER 20, 2019

Local government agencies remain acutely exposed to being hacked. However, at this moment in history, two particularly worrisome types of cyber attacks are cycling up and hitting local government entities hard: ransomware sieges and election tampering. Ransomware attacks are trendy again,” Weller told me. “If

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Ransomware Government Firewall Cyber Insurance 153

CyberSecurity Insiders

MAY 1, 2023

Surprisingly, the analysis conducted by American law firm BakerHostetler found that victims who made ransomware payments increased in the year 2022 compared to 2021. By the way, data spills occurring from state-funded hacks are no longer covered under cyber insurance.

Data breaches 138

Data breaches Cyber Insurance Insurance Technology 138

Threatpost

DECEMBER 31, 2020

Ransomware response demands a whole-of-business plan before the next attack, according to our roundtable of experts.

Ransomware 120

Ransomware Cyber Insurance Insurance DDOS 120

Security Affairs

FEBRUARY 8, 2024

Ransomware Attacks: In 2023, a whopping 72.7% of organizations faced ransomware. Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 Conclusion The cyber security stats we’ve covered highlight how important it is to protect ourselves online. million per breach.

Social Engineering 142

Social Engineering Cyber Attacks Cyber Insurance IoT 142

eSecurity Planet

FEBRUARY 16, 2021

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 Backups Software Encryption 97

Digital Shadows

OCTOBER 14, 2024

Key Points Ransomware activity grew by 2.3% In the short term, we expect a gradual increase in ransomware incidents, peaking by Q4 2024. In the long term, we anticipate a greater use of large language models (LLMs) in ransomware negotiations and a rise in exfiltration-only attacks. lower than in Q3 2023. compared to Q3 2023.

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Ransomware Social Engineering Insurance Cyber Insurance 94

SecureWorld News

OCTOBER 5, 2020

Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an advisory on ransomware. This was not about the cybercrime itself, but instead, the regulatory trouble your organization could face for facilitating ransomware payments. Treasury: ransomware continues to increase. in cyberspace or elsewhere.

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Government Ransomware Cyber Insurance Cybercrime 82

The Last Watchdog

OCTOBER 5, 2023

I held this position from 2000 through 2014, during which time Windows emerged as a prime target for both precocious script kiddies and emerging criminal hacking rings. Erin: What are some of the biggest cyber threats that businesses face today? Erin: How has the ransomware threat evolved in recent years?

Cyber threats 203

Cyber threats Cyber Insurance Threat Detection Cybersecurity 203

eSecurity Planet

APRIL 6, 2023

Ransomware is a type of malicious program, or malware, that encrypts files, documents and images on a computer or server so that users cannot access the data. Ransomware is the most feared cybersecurity threat and with good reason: Its ability to cripple organizations by locking their data is a threat like no other.

Ransomware 98

Ransomware Backups Encryption Malware 98

Malwarebytes

JULY 5, 2021

Researchers explore the insecure world of the subdomain (Source: Can i take your subdomain) Cyber insurance model is broken, consider banning ransomware payments (Source: The Register) How facial recognition solutions can safeguard the hybrid workplace (Source: Help Net Security) Capital One hacker faces fresh charges for 2019 hacking spree (Source: (..)

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Cyber Insurance Social Engineering Scams Insurance 108

Security Affairs

JANUARY 14, 2019

Zurich American Insurance Company is refusing to refund its client because consider the attack as “an act of war” that is not covered by its policy. The overall damages that insurance firms would probably have to cover reach over $80bn. SecurityAffairs – Mondelez, cyber insurance). Pierluigi Paganini.

Cyber Insurance 109

Cyber Insurance Insurance Cyber Attacks Advertising 109

Security Affairs

DECEMBER 28, 2022

On May 2021, Ireland’s Health Service Executive service shut down its IT systems after they were hit with a “significant ransomware attack.”. With the increase in the number of cyber attacks, a growing number of organizations opted to transfer the cyber risk by underwriting cyber insurance. Pierluigi Paganini.

Cyber Attacks 98

Cyber Attacks Cyber Insurance Insurance Cyber Risk 98

Security Affairs

APRIL 24, 2022

SecurityAffairs – hacking, newsletter). To nominate, please visit:? Follow me on Twitter: @securityaffairs and Facebook. Pierluigi Paganini. The post Security Affairs newsletter Round 362 by Pierluigi Paganini appeared first on Security Affairs.

Cyber Insurance 100

Cyber Insurance Spyware Firmware Insurance 100

CompTIA on Cybersecurity

DECEMBER 23, 2021

Cybersecurity was a big focus for CompTIA in 2021, producing a tremendous volume of content and data detailing how MSPs and other technology companies are responding to the latest cyberattacks, ransomware, hacks, and other cybercriminal behavior.

Cyber Insurance 70

Cyber Insurance Cybersecurity Insurance Ransomware 70

Security Affairs

JULY 8, 2019

Government computer systems at La Porte County, Indiana, were shut down after a cyber attack hit them on July 6. Experts believe it was a ransomware attack. On July 6, a cyber attack brought down government computer systems atLa Porte County, Indiana. SecurityAffairs – La Porte, hacking). Pierluigi Paganini.

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Government Insurance Cyber Insurance Cyber Attacks 108

The Last Watchdog

SEPTEMBER 14, 2018

In March 2018, the city of Atlanta fell victim to a ransomware attack that shut down its computer network. During 2016, 39 states were hacked. At least one state saw an attempt to delete voter rolls; other states discovered their election websites were hacked. City agencies were unable to collect payment. Election threat.

Government 147

Government Cyber Insurance Digital transformation Hacking 147

Security Affairs

APRIL 30, 2019

Dollar losses due to the NotPetya ransomware massive attack. Back to nowadays, in mid-March Global aluminum producer Norsk Hydro was hit by a “massive” cyber attack that impacted operations in several of the company’s business areas across Europe and the U.S. percent in early trading on the Oslo Stock Exchange.

Cyber Attacks 108

Cyber Attacks Cyber Insurance Insurance Advertising 108

Threatpost

OCTOBER 25, 2019

Targeted ransomware, mobile malware and other attacks will surge, while companies will adopt AI, better cloud security and cyber insurance to help defend and protect against them.

Mobile 48

Mobile Cyber Insurance Malware Ransomware 48

Security Boulevard

AUGUST 22, 2022

Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. These attacks have driven the cost of cyber insurance premiums higher. Cyber insurance has become more critical to organizations to help offset the risk to the company.

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Cybersecurity Cyber Insurance Insurance CISO 98