Ransomware Insurance

Companies Hoping Government Will Cover Cyber Losses: Survey 

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Hope of a government bailout doesn’t strike us as a realistic assumption for the vast bulk of ransomware attacks… “Only 19 percent of those surveyed have ransomware coverage limits above $600,000, while over half (59 percent) hoped the government would cover damages when future attacks are linked to other nation-states. Small-to-medium sized businesses (SMBs) – … Read more

Most School Districts Lack Even a Single Dedicated Cyber Security Employee and Colleges Are Losing Theirs to Outside Recruitment: Report 

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“Limited funds leaves (sic) K-12 districts struggling to make some cybersecurity investments or pay competitive cybersecurity salaries, (Amy) McLaughlin said. CoSN’s (K-12 professional association) most recent survey found a quarter of district respondents had a dedicated cybersecurity employee. Others might add cybersecurity to a staff members’ other duties or get part-time help from a virtual … Read more

Hacker Group Cites Target’s Cyber Insurance Limits in Ransom Demand 

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“The Hive group claims to have breached the system and then obtained details of its cyber insurance policy to use in negotiations. ‘We are very well informed and precise in our operations, so we know that Wootton have cyber insurance that reaches £500k,’ the group wrote in the message to students and parents.” Source: Ransomware … Read more

2/3s of Healthcare Organizations Hit By Ransomware in 2021: Sophos

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“The increase in successful ransomware attacks is part of an increasingly challenging broader threat environment which has affected healthcare more than any other sector. Healthcare saw the highest increase in volume of cyber attacks (69%) as well as the complexity of cyber attacks (67%) compared to the cross-sector average of 57% and 59% respectively. In … Read more

Feds Discourage Cyber Insurance — at Least for Ransomware (Congressional Testimony)

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LIkely a confusing and counter-productive take, in our opinion. DHS is now, in effect, raising questions about whether businesses should get cyber insurance. Or is the agency implying businesses self-insure against ransomware but obtain coverage for other cyber risks? Government will not be the primary driver of improved cyber security. As with fire safety, loss … Read more

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