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This interesting report provides the “tick tock” of a ransomware attack on a small US bank, including the role of cyber insurance in the recovery. The details reveal the bank…
Read More “The Nightmare of a Ransomware Attack, Community Bank Version ” »
“(O)verall claims frequency decreased by 22% year-over-year. Furthermore, Coalition policyholders experienced 64% fewer claims than the broader cyber market1, with 47% of reported events handled with no cost to the…
Stand-alone policies reflect growing acceptance of cyber as a unique and critical category requiring more complex underwriting by carriers and increased attention from policy holders. “Standalone coverage is 70% of…
Read More “Most Cyber Insurance Premiums Now for Stand-Alone Coverage: Fitch” »
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…
“After ‘careful consideration,’ county officials opted to pay the $1.1 million ransom to the unknown hacker to regain control of their system. An insurance policy ensured a payout of $511,852,…
Read More “CA County Pays Ransom; Cyber Insurer Covers Much of It ” »
The hack has led to the loss of internet in classrooms. “After three days without Internet service, Penncrest School District teachers and students are ‘getting creative,’ according to Superintendent Tim…
Read More “Back to Chalk at PA School District Hit By Ransomware ” »
New survey results from Sophos, a provider of cybersecurity as a service, provide interesting data that delineates stand-alone cyber policies from cyber elements in broader policies. “The study also revealed…
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…
Read More “Everybody Using its Risk Solution Avoided Paying Ransoms in 2022: Resilience” »
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….
Read More “20% of Nation’s Population Has Data Stolen in Hack: Report ” »
“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…
Read More “Patient Sues Hospital Network to Make it Pay Ransom ” »