The Source for Cyber Insurance News, Insights and Data
“Computers specially configured (by Coalition) to make cyber criminals think they were small businesses operating in London were attacked by hackers over 2,000 times every minute this January.” Most attacks involved attempts to hack remote desktop connections. “’These results show just how much home working has widened businesses’ attack surface – the number of internet … Read more
Criminals have been using HardBit ransomware since last fall. Now the hackers are making an unusual, and outrageous, demand on their targets. “The hackers tell victims to anonymously provide them with the details of their cyberinsurance so that they can set the ransom amount accordingly. The HardBit operators say they do not want to demand … Read more
[Paywall may apply] “The costly NotPetya cyberattack, which the U.S. blamed on Russia, should be considered a ‘cyber nuclear attack,’ insurers argued as they urged judges to overturn a legal win by Merck & Co. in a dispute that could have broad ramifications for business insurance…The insurers appealed after a lower court judge sided with … Read more
We’ve all heard the horror stories of companies hacked via penetrations of their vendors and partners. “’A company can take out insurance for third parties, but we don’t see a lot of those premiums tied directly to the number of third parties a company has under contract,’ (Jerry Caponera, general manager of risk quantification at … Read more
We’ve reported on the rise of “fraudulent instruction” scams and concerns they raise for the cyber insurance industry. This one targeted the campaign of Senator Jerry Moran (R, Kansas). “Cybercriminals targeted the accounting firm employed by Moran For Kansas and money was wired to fraudulent bank accounts,” Moran for Kansas spokesperson Tom Brandt told NBC … Read more