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Where reporting requirements exist, lawsuits follow. “The Cyber Incident Reporting Act puts in motion important new cybersecurity reporting requirements that will likely apply to businesses in almost every major sector…
Read More “Cyber Incident and Reporting Act Signed by President Biden ” »
Law firm Lowenstein Sandler warns: “If these subrogation actions ‘stick,’ policyholders should expect that once a cyber claim is paid by an insurer, that will not be the end of…
Read More “Cyber Policyholders Better Plan Ahead for Subrogation Actions Following a Hack ” »
The company’s Global Threat Brief H1-2022 calls out several sectors with significant risk: education, healthcare, manufacturing and utilities. As for specific attacks: “In the first half of 2022, we can…
Read More “Watch Out for SPoF Attacks in 2022, Warns CyberCube in New Report” »
Also says company has been able to reduce number of ransomware claims seven fold. Source: “Half of our DNA is cyber security” – CEO | Insurance Business America
“At a time when the need for cyber insurance has never been more clear, brokerages have spent much of 2021 decreasing coverage and increasing rates. But on Friday, tucked into…
Read More “Cyber Insurance Market Looks for New Approach, With Lloyds Downshifting on Coverage ” »
While the average ransomware payment ($290k) has increased in Q3 2021 compared with the same quarter last year, a smaller percentage of ransomware demands are being met. The insuretech provider…
Analysts with Fox-IT (of the of NCC Group) created a database of more than 700 ransomware negotiations between 2019 and 2020. Tip 1: Don’t lose your cool with the hackers….
Prediction comes from Forrester Senior Analyst Jeffery Williams: “Bottom line, insurers have been collecting small premiums while facing near-infinite risks. At least one top 10 cyber carrier will cease writing…
“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…
Read More “Ransomware Threatens the “American Way of Life:” Biden Admin Official ” »
“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…