Ransomware Insurance

What Type of Control is Most Effective in Preventing Successful Cyber Attacks? Marsh Has an Answer

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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

Psst… Hackers Try to Team Up with Insured Against Cyber Carriers 

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“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

Cyber Insurance Carriers Increase Role in Incident Response and Not Everybody’s Happy 

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This TechTarget article includes results from the useful Delinea white paper: “Cyber Insurance – If You Get It, Be Ready to Use It.” “(Kurtis Minder, CEO of cybersecurity vendor GroupSenseMinder) has observed threat actors only becoming more ruthless in exploiting enterprises. For example, earlier this month the Alphv ransomware gang leaked photos of cancer patients … Read more

What Happens When Ransomware Prevention Fails? Eos Venture Partners Bets on Hour-One Ransomware Response from Fenix24 

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Eos is investing $5m in Fenix24; valuation was not released. The investment demonstrates growing industry focus on “right of the boom” cybersecurity technology — loss management for when pre-breach underwriting standards and risk controls have failed to prevent an attack. “‘As Ransomware-as-a-Service has grown, the business impact of cyberterrorists’ ransomware attacks has also increased significantly—more … Read more

Hacked Hospital Says Prep to Qualify for Cyber Insurance Helped in Ransomware Attack 

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Maryland’s Atlantic General Hospital was hit at the end of January by a ransomware attack that disrupted operations, but did not penetrate electronic health records, which had a separate host, the hospital’s CEO reported. “’We will survive this,’ (Don Owrey, president and CEO) said. ‘It’s been incredibly disruptive to our business operations, as you can … Read more

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