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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

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. For example, the healthcare sector, a prime target for these types of attacks , planned to spend $125 billion to defend against breaches from 2020 to 2025.

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Cyber Insurance Premiums Suddenly Surging

SecureWorld News

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

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As market for cyber insurance booms, watchdog calls for better data

SC Magazine

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

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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. These industries include consumer businesses, healthcare, and financial services.

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After Springhill: Assessing the Impact of Ransomware Lawsuits

eSecurity Planet

“From a technological standpoint this is a fairly old case, so whatever was in place then probably isn’t relevant to what needs to be in place today – but it does tie together the absolute gravity of the situation that we’re in,” Crockett said. .” ” Cyber Insurance No Longer Reliable.

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Exploring the Cost of a Data Breach and Its Implications

Centraleyes

The top five countries and regions for the highest average cost of a cyber security breach in 2023 were as follows: the US ($9.4 Uneven Impact on Industries The healthcare sector bears the heaviest burden, with an average cloud data breach cost of $10.10 million), technology ($4.97 million), the Middle East ($8.07

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Another one bites the dust: Avaddon ransomware group shuts down operation

Malwarebytes

In what could be a called “shocking news” on Friday, BleepingComputer revealed that the gang behind the Avaddon ransomware shut down its operations after releasing more than 2,000 decryption keys to the technology news site. These are the three files in the ZIP file. which came directly from the Avaddon ransomware group.