Are Ransomware Gangs Trustworthy?
Cyber Insurance News has wondered how often ransomware gangs — groups of criminals often supported by hostile foreign powers — can be trusted. We asked Jennifer Coughlin of Mullen Coughlin,…
Ransomware Risk: Things To Know
Ransomware is a type of malware that encrypts files on a victim’s computer, making them inaccessible. The attackers then demand a ransom payment in exchange for the decryption key. The…
Does Your Cyber Insurance Cover Risk from Pixels & Biometrics?
It should but may not, according to this report. There’s legal risk from pixels and biometrics. Pixels track users’ online activities and are the source of growing litigation, including large…
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Cyber Insurance Sunday:
Here at Cyber Insurance News, we focus on just that, Cyber Insurance. But we want to introduce topics and stories adjacent to insurance that focus on helping you understand the…
Cyber Fraud Common in Mortgage Closings, But Most Banks Not Confirming Their Settlement Agents Have Cyber Insurance
A survey of almost 50,000 mortgage settlement agents indicates wire/cyber fraud is common in the mortgage process. While most agents say they have insurance to cover the risk, they also…
Cyber Insurance And Quantum Computing – The New Risk
Quantum computing is a rapidly developing field with the potential to revolutionize many industries. But revolution isn’t always for the good. It also poses serious security risks and businesses need…
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Insurance for Catastrophic State-Backed Cyber Attacks? Lloyd’s Exclusions Continue to Confuse Markets As Other Insurers Struggle With Their Own Strategies
When Lloyd’s provided updated guidance and exclusions for nation-state cyber attacks, some industry players and news outlets concluded the organization intended to jettison all such coverage. Not so, Lloyd’s said…
Major Cyber Incidents Cut Shareholder Value by 9%: AON
Along with additional (and alarming) detail on its findings about hacks and shareholder value, AON provides some good news. Based on data from its risk assessment platform, security of common…
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Lawyers — Better Consider Cyber In Addition to Malpractice Insurance to Protect Against Losses from “Spoofing”
Interesting report about whether legal malpractice insurance covers lawyers when scammers trick them into sending their clients’ payments for real estate into phony accounts. “Of course, not all legal malpractice…
Widespread MOVEit Attacks Highlight Difference in Coverage Between Encryption and Extortion
“While an insurance company may pay a ransom to get file decryption keys, ‘they won’t pay an extortion fee,’ Wisniewski said. ‘The conventional wisdom of insurers has been, ‘I’m buying…