The Source for Cyber Insurance News, Insights and Data
“Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, known as CISA, told the House Homeland Security Committee Wednesday that ‘ransomware has become a scourge on nearly every facet of our lives, and it’s a prime example of the vulnerabilities that are emerging as our digital and our physical infrastructure increasingly converge.’” Source: ‘American … Read more
“James Burns, head of cyber underwriting at CFC, says that ransomware has ‘solely transformed’ the cyber market owing to the “astronomical increases” in the extortion amounts demanded in attacks over the last 18 months.” See more from this survey. Source: Captive insurance industry news | Airmic: cyber risks are the most likely new risks to … Read more
As more and more enterprises back up their data to protect it from being encrypted (and thereby made inaccessible) by ransomware attacks, criminals are now moving to steal the data first before they encrypt it. If the target does not pay up, the attacker releases sensitive data. “Threat actors are now shifting to the method … Read more
“Founded in 2017, the Mountain View, Calif-based At-Bay surpassed $160 million in annual recurring revenue in the second quarter of the year, when it also experienced an 800% year-over-year premium growth.” Source: Cyber Insurance Firm At-Bay Announces $20 Million Series D Extension | SecurityWeek.Com
“The Biden administration hopes that their new informal group, which they’re calling the Counter-Ransomware Initiative, will bolster their diplomatic push that has included direct talks with Russia as well as the NATO alliance and Group of Seven (G7) wealthy nations.” Source: White House Plans 30-Country Meeting to Combat Ransomware and Cyber Crime