The Source for Cyber Insurance News, Insights and Data
Reported the company: “Over the last two years, the Resilience model has proven that by building a holistic approach to managing this risk, organisational security is increased dramatically. 100% of Resilience cyber risk solution clients impacted by ransomware were able to avoid paying an extortion in 2022. In the same time period, clients overall were … Read more
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. “However, the company has confirmed that it has substantial insurance coverage that will help offset some of the direct costs.” It’ll be interesting to see … Read more
“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 her by phone that photos of her naked during her treatment were online, the lawsuit said. Jane Doe said she wasn’t aware the photos were … Read more
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 ability of any control studied to decrease the likelihood of a successful cyberattack, making it a key control to prioritize in order to minimize losses. … Read more
“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 purchased.” (We’ve written about this trend before… ) Excerpt of a message from a ransomware gang (provided by Varonis): “(S)ince the sneaky insurance agent purposely … Read more