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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…
Read More “Increase in Back-Ups Leading Ransomware Attackers to Exortion Rather Than Just Denial ” »
“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…
“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…
Read More “Biden Admin Plans 30-Country Meeting as Part of “Counter-Ransomware Initiative” ” »
“’Threat actors have moved to engaging in double extortion, meaning that the hackers would threaten to release private information if the organization doesn’t pay,’ said Angela Feudo (pictured below), manager,…
Most survey respondents said clients had been reimbursed for ransomware payments. One broker reported 30+ payouts in the first half of 2021. “Commercial insurance prices moderated across all account sizes…
Read More “Cyber Prices Soar 25.5% in Q2 as Ransomware Payouts Increase” »
Broker urges patience as industry develops sustainable approach to ransomware and other cyber issues…unfortunately, the cyber crooks are anything but patient. “Obviously, you can see just how difficult it is…
Read More “Cyber Losses Trigger “Domino Effect” For Cybersecurity Insurers & Brokers ” »
“It’s not an easy path to navigate, (Nick) Shah (a former kidnap and hostage negotiator) said, and it is made even more complex by the fact that cyber negotiations tend…
The report asserts the industry is putting too much emphasis on MFA as a defense when more attacks come via social engineering or unpatched software and Remote Desktop Protocol (RDP)-involved…
Read More “Are Cyber Insurers and their Clients Putting Too Much Trust in MFA (Multifactor Authentication) to Stop Ransomware? ” »
The attacks are driving better underwriting and higher premiums with sustainable loss ratios, despite media reports of major disruptions and high ransoms. “In a way, the headlines are right —…
Read More “Ransomware Losses Are Good for the Cyber Insurance Industry: CyberCube CEO” »
“Some ransomware gangs are even actively seeking to target victims with cybersecurity policies because they believe that’s the best way to guarantee they’ll make money from encryption campaigns:” reports ZDNet,…
Read More “Does Cyber Insurance Attract Attacks from Ransomware Rings?” »