Malwarebytes

JULY 10, 2022

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach.

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Cyber Insurance Insurance Data breaches Phishing 103

Security Boulevard

MARCH 15, 2023

With ransomware attacks, social engineering, and data breaches at an all-time high, terms like “cybersecurity” and “cyber insurance” are being thrown around in conversation more than ever before. But what, in practice, do they mean – and how are the two intertwined?

Cyber Insurance 97

Cyber Insurance Insurance Social Engineering Cybersecurity 97

Javvad Malik

AUGUST 22, 2022

Lloyds of London has told its members to exclude nation state cyber attacks from insurance policies beginning in 2023, saying they pose unacceptable levels or risk. Knowing how most other forms of insurance works, the burden of proof may lie on the victim to prove that the attack wasn’t a nation state attacker.

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Insurance Cyber Attacks Social Engineering Cyber Insurance 145

Security Boulevard

MARCH 17, 2023

A common misconception of small business owners is that they can fly under the radar when it comes to ransomware, social engineering, and other cyberattacks. The post The Small Business Fallacy – Why You Need Cybersecurity and Insurance More Than Ever appeared first on Security Boulevard.

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Small Business Insurance Social Engineering Cybersecurity 122

Security Affairs

NOVEMBER 6, 2018

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?

Insurance 94

Insurance Cryptocurrency Cyber threats Marketing 94

Security Affairs

FEBRUARY 8, 2024

Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 Cyber Skills Gap: By 2025, there could be 3.5 million unfilled cyber security jobs, showing a big need for skilled professionals. Market Size: The AI cyber security market was worth around $17.4 million per breach.

Social Engineering 141

Social Engineering Cyber Attacks Cyber Insurance IoT 141

CyberSecurity Insiders

JULY 29, 2022

What’s surprising about the incident is that the Hive Group has details that Wootton Educational Trust is covered under a cyber insurance and so is demanding the authorities to pay up huge i.e., £500,000. The post Hive Ransomware group demands £500000 from School in England appeared first on Cybersecurity Insiders.

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Ransomware Cyber Insurance Social Engineering Education 122

Malwarebytes

JULY 5, 2021

Other cybersecurity news.

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Cyber Insurance Social Engineering Scams Insurance 106

Security Boulevard

MAY 12, 2022

The Role Of Cybersecurity Insurance In A Predictive Security. Cybersecurity insurance in recent years has become a modern day stopgap for corporations looking to offset their losses for attacks. What Is Not Covered Under Cyber Insurance? Below is a list of adaptive controls needed for cyber insurance.

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Cyber Insurance Insurance Marketing Firewall 105

SecureWorld News

DECEMBER 7, 2022

Security experts have warned for years about the possibility of social engineering attacks with deepfakes, and the technology has matured enough for 2023 to see hackers successfully leverage it. Cyber insurance trends in 2023. Fostering workforce security education at all levels reduces risk.

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Cybersecurity Cyber Insurance Insurance Social Engineering 98

The Last Watchdog

OCTOBER 5, 2023

Byron: Companies often underestimate threats, neglect basic cyber hygiene, and fail to educate employees on cybersecurity. Erin: What are some of the most common social engineering tactics that cybercriminals use? Erin: Do you think cyber insurance should play a bigger role in companies’ cybersecurity strategies?

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Cyber threats Cyber Insurance Threat Detection Cybersecurity 203

SecureList

NOVEMBER 9, 2022

Given the continued surge of ransomware attacks, which soared 288% in the first half of 2022 alone, the need for cyber insurance will be a bigger priority, especially in the SMB market. As such, we anticipate a booming cyber insurance industry as many organizations heed these warnings and seek to guard against ransomware attacks.

Cybersecurity 144

Cybersecurity Cyber Insurance Cybercrime IoT 144

Malwarebytes

MARCH 10, 2021

Malware authors and social engineers have relied on shame and the threat of exposure for years. This quickly became a mess of arguments over paying the ransom , and the world of cyber insurance and whether it would actually insure against these types of attacks. Shaming victims into action.

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Ransomware Insurance Cyber Insurance Social Engineering 125

CyberSecurity Insiders

JANUARY 24, 2022

CINCINNATI–( BUSINESS WIRE )–Great American Insurance Group recently launched EagleEye? According to Betty Shepherd, Divisional Senior Vice President, Great American Cyber Risk, EagleEye is a valuable loss prevention tool for insureds. We jumped at the opportunity to build a compelling solution for insureds.

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Digital Shadows

OCTOBER 14, 2024

Together, they use native English speakers to execute sophisticated social engineering operations, contributing significantly to their newfound dominance. To counter these methods, organizations should prioritize educating users on phishing and social engineering techniques. compared to Q3 2023.

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Ransomware Social Engineering Insurance Cyber Insurance 94

SecureWorld News

OCTOBER 20, 2021

Lastly, Accenture confirms it has cyber insurance, but if it is under-insured, the business could still face significant impacts from a cyberattack and the resulting litigation: These monetary damages might not be subject to a contractual limit of liability or an exclusion of consequential or indirect damages and could be significant.

Cyber Risk 98

Cyber Risk Risk Insurance Cyber Insurance 98

Adam Levin

MARCH 16, 2020

“The scam is frequently carried out when a subject compromises legitimate business email accounts through social engineering or computer intrusion techniques to conduct unauthorized transfers of funds.” It’s Time to Do Something.

Scams 130

Scams Identity Theft Phishing Accountability 130

Digital Shadows

JANUARY 14, 2025

By mid-2024, Scattered Spiders hallmark tactics, including social engineering and SIM-swapping, were evident in RansomHubs double extortion attacks, cementing their collaboration. The groups adaptabilityevident in its seamless transition to RansomHuband its expertise in social engineering keep it highly valuable to ransomware partners.

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Ransomware Social Engineering Phishing Manufacturing 126

SecureWorld News

NOVEMBER 1, 2021

Americans’ personal information, stolen en masse by state-backed actors and online gangs alike, is being weaponized via increasingly sophisticated social engineering or disinformation campaigns. Criminals and extremists similarly can threaten unprecedented levels of disruption and coercion.

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Cybersecurity Government Cyber Insurance Technology 98

Hacker's King

OCTOBER 10, 2024

Cyber Insurance Partnerships Cyber insurance is becoming a must-have for businesses worldwide. Cybersecurity companies often partner with insurance firms to provide risk assessments and incident recovery services to clients. In return, they receive a share of the insurance premium or a service fee.

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Cybersecurity Cyber Insurance Insurance Penetration Testing 52

SecureWorld News

MAY 5, 2023

Our team has handled several ransomware attacks by the Royal threat actor group, and each of those started with a callback phishing attack that exploited people, first, to gain initial access into the network, so it would not surprise me if that is what happened in this attack on the City of Dallas, as well.

Ransomware 98

Ransomware Cyber Risk Cyber Insurance Social Engineering 98

Malwarebytes

FEBRUARY 3, 2023

Other worries were the rise in premium prices for cyber insurance, and the security implications of the rise in flexible working. The advancing pace of technology (39 percent) also featured, as effects from the pandemic have complicated organizations’ ability to protect themselves from cyber threats.

Scams 95

Scams Banking Cyber Insurance Cybercrime 95

eSecurity Planet

MARCH 17, 2023

Examples of threatening traffic that IDPS solutions can combat include network intrusions, DDoS attacks, malware, and socially engineered attacks. In worst-case scenarios, these firms should cover your business if you’re impacted by a data breach that leaks sensitive information and leads to fines and legal fees.

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Security Boulevard

AUGUST 15, 2024

It’s time to admit that attackers will continue to innovate and adapt their techniques and tactics, that the attack surface will constantly be changing and updating, that people will always be susceptible to deception and social engineering.

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DNS Cyber Insurance Social Engineering Insurance 69

Security Boulevard

JUNE 26, 2022

Hackers and cyber criminals also read the news. Many hacker groups will even approach social engineering to see if anyone in IT or SecOps knows if any layoffs are coming. That $3.29, even with cyber insurance, is still a significant hit to the organization’s bottom line.

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NetSpi Executives

APRIL 27, 2024

Ransomware, a definition Ransomware is a set of malware technologies, hacking techniques, and social engineering tactics that cybercriminals use to cause harm, breach data, and render data unusable. Ransomware attackers get into a network in many ways: Social engineering. Should I get a ransomware cyber insurance policy?

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BH Consulting

JUNE 13, 2023

Almost three-quarters of breaches (74 per cent) involve the human element through error, social engineering, stolen credentials or misusing privileges. Half of all social engineering attacks involve ‘pretexting’, where criminals fabricate a story to trick the victim.

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Social Engineering Data breaches Scams DDOS 52

Thales Cloud Protection & Licensing

JULY 21, 2022

However, this stance indicates a lack of understanding of the effects of all the parties involved, such as cyber insurance underwriters, incident response firms, government regulations, and ransomware attribution. For many organizations, paying the ransom can be less damaging than risking any additional impacts.

Cyber threats 71

Cyber threats Energy and Utilities Ransomware IoT 71

SecureWorld News

OCTOBER 19, 2023

Attackers are more easily able to circumvent email security controls of even the most mature organizations through well-crafted social engineering tactics, resulting in stolen account credentials and ultimately account takeovers. As cyber threats surge, the expenses associated with cyber insurance rise, adding to the financial strain.

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Cybersecurity CISO Phishing Education 107

Pen Test

OCTOBER 10, 2023

Provide cybersecurity awareness training to all personnel, enabling them to identify social engineering attacks and risky behavior. Identify cyber insurance policies and ensure they align to business needs regarding ransomware attacks and data leaks. Fines for non-compliance could offset insurance payouts.

Ransomware 52

Ransomware Backups Insurance Cyber Insurance 52

SecureWorld News

APRIL 1, 2021

Furthermore, when an organisation has a cyber insurance policy, it might be able to claim the ransom back, which may encourage payment. That is an incredibly difficult situation to be put in, and one that is contributing to the problem.

Ransomware 57

Ransomware Cyber Insurance Social Engineering Cybercrime 57

Security Boulevard

JANUARY 18, 2024

Attackers will leverage AI for more scalable and effective social engineering attacks, disinformation campaigns, vulnerability discovery, and exploit amplification. Eventually, risk management, resource allocation optimization, and insurance modeling will benefit as a result. In 2024: 1. In 2024: 1.

Risk 115

Risk Cybersecurity CISO Technology 115

ForAllSecure

MAY 17, 2023

Chris Gray of Deep Watch talks about the view from the inside of a virtual SOC, the ability to see threats against a large number of SMB organizations, and the changes to cyber insurance we’re seeing as a result. VAMOSI: Cybersecurity insurance. cyber insurance as a whole was changing heavily.

Internet 40

Internet Internet Insurance Cyber Insurance 40

Digital Shadows

NOVEMBER 26, 2024

Initial Access Broker (IAB) activity increased by 16% during the reporting period, heavily targeting US-based organizations due to perceived financial capability from cyber insurance. This incident shows that while security tools are essential, phishing emails can still slip through.

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Cyber Attacks Phishing Ransomware Cyber Insurance 52

IT Security Guru

DECEMBER 5, 2022

Everyone in the cyber insurance industry or trying to get cyber insurance today knows that using multifactor authentication (MFA) is an absolute make-or-break requirement for getting a cyber insurance policy; or if you can get a policy without MFA, you will pay a hefty increased premium for the same amount of coverage.

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Insurance Cyber Insurance Phishing Social Engineering 127

Duo's Security Blog

JUNE 21, 2021

According to Verizon’s most recent Data Breach Incident Report , instances of advanced ransomware have doubled in the past year, alongside major upticks in phishing attacks and social engineering. Don’t worry though, there's already an insurance policy for that. What is Cyber Liability Insurance?

Insurance 105

Insurance Cyber Insurance Data breaches Social Engineering 105

BH Consulting

SEPTEMBER 7, 2022

As demand for cyber risk insurance increases, two recent developments could have policyholders scrambling to check their cover. In the United States, a judge dismissed a claim against an insurance company that refused to pay extra for losses due to business email compromise. And the cyber insurance market keeps growing.

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Insurance Social Engineering Cyber Risk Cyber Insurance 40