Ransomware Claims Jump in Q1 2023: Marsh
Marsh reports claims were up 77% in Q1 2023 compared with the previous quarter. Resilience reports the same trend. “One possible explanation for the resurgence is that ransomware purveyors based…
Roll Out of Lloyd’s Cyber War Exclusion Dazes and Confuses Market
“Misreporting about the LMA (Lloyd’s Market Association) exclusions – specifically that Lloyd’s war exclusions do not cover state-sponsored cyber attacks – has been “deeply unhelpful,” said Andrew Hill, global head…
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20% of Nation’s Population Has Data Stolen in Hack: Report
New Zealand’s Latitude Financial suffered a ransomware attack, reportedly via an IT vendor. Estimates are that one fifth (!?) of New Zealand’s population had personal data exposed by the attack….
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Patient Sues Hospital Network to Make it Pay Ransom
“A cancer patient filed the lawsuit as an anonymous plaintiff, referred to as Jane Doe in the lawsuit, after [Lehigh Valley Health Network in Allentown, Pa.’s] chief compliance officer informed…
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What Type of Control is Most Effective in Preventing Successful Cyber Attacks? Marsh Has an Answer
Marsh analyzed its claims data and responses to customer self assessments. The resulting report may surprise some folks… “Automated hardening techniques — by a wide margin — have the greatest…
Financial Sector Chafes at Cyber Insurance Costs & Requirements: Industry Report
“Cyber insurance will undergo an identity crisis,” says the Financial Services Information Sharing and Analysis Center (FS-ISAC), the cyber intelligence-sharing community for financial services. “(S)ome financial sector firms are beginning…
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Psst… Hackers Try to Team Up with Insured Against Cyber Carriers
“A new scheme involves demanding that the target provide details of its cyber insurance policies so that the payment demands can be adjusted to fall within the coverage the victim…
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What’s the Worst Case for a Catastrophic Cyber Attack? Coalition Has Been Modeling It
“Built on Coalition’s proprietary data collection platform and knowledge graph, which captures 48 trillion monthly events, the Active Cyber Risk Model offers a more accurate picture of cyber risk for…
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Coalition Honeypots Attract Hacker Killer Bees
“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…
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Crooks Trying to Calibrate Their Ransoms to Cyber Insurance Limits
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…
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