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In May 2021, a ransomware attack on the Colonial Pipeline slammed the brakes on fuel deliveries across the U.S. East Coast, exposing the alarming vulnerability of critical infrastructure and sparking chaos in its wake. The oil and gas industry, which is highly dependent on automation and digital control systems, has since made cybersecurity a top … Read more
Stellar Cyber has launched its RiskShield Cyber Insurance Program, tailored for Managed Security Service Providers (MSSPs) and their clients. The program, created in partnership with Converge Insurance, integrates cyber insurance with Stellar Cyber’s Open XDR platform to help streamline risk assessments and enable MSSPs to offer customized insurance coverage. The program’s key feature, the Stellar … Read more
The “largest regulated water and wastewater utility company” in the United States, American Water, is recovering from a cyber attack that forced it to pause billing services for its 14 million customers. While the company says it’s retained 3rd-party cyber experts to help with the response, a spokesman declined to respond to Cyber Insurance News‘ … Read more
In the rapidly evolving cyber threat landscape, the year 2024 has seen a dramatic increase in ransomware attack severity, according to Coalition’s newly released 2024 Cyber Claims Report: Mid-year Update. The report reveals that while the overall frequency of ransomware attacks decreased, the financial impact of each successful attack soared by 68%, with the average … Read more
Cowbell, an SME cyber insurance provider, celebrated its first anniversary in the UK by reporting impressive triple-digit growth across key metrics. A company press release noted that since expanding into the region in 2023, Cowbell has seen a 351% increase in premiums, a 327% rise in policies issued, and a 148% growth in its network … Read more