The Source for Cyber Insurance News, Insights and Data
“After ‘careful consideration,’ county officials opted to pay the $1.1 million ransom to the unknown hacker to regain control of their system. An insurance policy ensured a payout of $511,852, county officials said. ‘The county had prepared for the possibility of such an incident by securing appropriate insurance coverage,’ Wert said. ‘After negotiating with the … Read more
The hack has led to the loss of internet in classrooms. “After three days without Internet service, Penncrest School District teachers and students are ‘getting creative,’ according to Superintendent Tim Glasspool. ‘A great teacher can teach with a piece of chalk,’ he said Wednesday afternoon, speaking on a cellphone set up to receive calls to … Read more
Electric vehicles and their infrastructure will create new complexity for insurers. What if a hacker creates a massive car crash? Or a grid is taken down by malware originating in an EV being charged? “In a bid to get the issue under control, insurance companies and EV manufacturers could standardize best practices as a way … Read more
[Yes, we didn’t know that’s North Dakota’s office nickname.] How to help state/local governments improve their cybersecurity when cyber employees are scarce, threats many and insurance expensive? An innovative approach is being run in North Dakota, where the state offers SOC and managed security services and users can obtain a 4% discount on cyber insurance. … Read more
The hints come from an article by the National Security Agency’s (NSA) former general counsel, Glenn S. Gerstell, who’s been involved in development of the plan. He predicts a much more detailed cyber strategy than in past and indicates increased federal involvement is coming, because: “Market forces are not enough.” That includes reliance on cyber … Read more