Cyber Insurance Carriers Increase Role in Incident Response and Not Everybody’s Happy 

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This TechTarget article includes results from the useful Delinea white paper: “Cyber Insurance – If You Get It, Be Ready to Use It.” “(Kurtis Minder, CEO of cybersecurity vendor GroupSenseMinder) has observed threat actors only becoming more ruthless in exploiting enterprises. For example, earlier this month the Alphv ransomware gang leaked photos of cancer patients … Read more

What’s the Worst Case for a Catastrophic Cyber Attack? Coalition Has Been Modeling It 

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“Built on Coalition’s proprietary data collection platform and knowledge graph, which captures 48 trillion monthly events, the Active Cyber Risk Model offers a more accurate picture of cyber risk for organizations and the broader economy. In a simulation modeled against a sampling of 5,000 American companies, Coalition found that a one-in-250-year cyber event could cost … Read more

What Happens When Ransomware Prevention Fails? Eos Venture Partners Bets on Hour-One Ransomware Response from Fenix24 

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Eos is investing $5m in Fenix24; valuation was not released. The investment demonstrates growing industry focus on “right of the boom” cybersecurity technology — loss management for when pre-breach underwriting standards and risk controls have failed to prevent an attack. “‘As Ransomware-as-a-Service has grown, the business impact of cyberterrorists’ ransomware attacks has also increased significantly—more … Read more

Hacked Hospital Says Prep to Qualify for Cyber Insurance Helped in Ransomware Attack 

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Maryland’s Atlantic General Hospital was hit at the end of January by a ransomware attack that disrupted operations, but did not penetrate electronic health records, which had a separate host, the hospital’s CEO reported. “’We will survive this,’ (Don Owrey, president and CEO) said. ‘It’s been incredibly disruptive to our business operations, as you can … Read more

Many Mid-Sized Companies That Are Required To Have Cyber Insurance Don’t: Survey 

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Huntress Labs, and MSP, had the survey conducted. It involved 256 “mid-sized businesses” with app. 250-2,000 employees each. “Carrying cyber insurance coverage was a key issue for respondents. While 69% of respondents are required to carry some form of cyber insurance, 35% find it extremely difficult to obtain coverage…27% have no insurance coverage at all.” … Read more

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