The Source for Cyber Insurance News, Insights and Data
The persistent threat of ransomware continues to pose significant dangers to organizations worldwide. Recent news from around the world highlights the idea that combating this menace should involve banning ransomware payments to curb the growing threat. In light of these developments, the Marsh report, “Ransomware: A Persistent Challenge in Cyber Insurance Claims,” provides valuable insights … Read more
In the world of cybercrime, few experiences are as frustrating as paying a ransom to recover stolen data only to remain empty-handed. This stark reality is highlighted in the issue of ransomware data recovery where recent studies reveal that 1/3 of ransomware victims did not recover data even after paying up. For individuals and businesses, … Read more
Ransomware, a form of malicious software, kidnaps an organization’s data, encrypts it, and demands a ransom for its release. This modern-day digital extortion has historical roots in the practice of demanding ransom for kidnapped individuals, a method used by pirates and bandits for centuries. The digital age has transformed this age-old crime into a significant … Read more
A new cybersecurity report reveals a stark reality for middle market firms: while cyber insurance coverage is at an all-time high, the persistent threat of ransomware and data breaches demands constant vigilance. RSM US LLP’s report, Middle Market Business Index Special Report: Cybersecurity 2024, was developed in partnership with the U.S. Chamber of Commerce. The … Read more
Three major UK insurance associations have teamed up with GCHQ’s National Cyber Security Centre (NCSC) to reduce ransom payments from cyber crime victims. This collaboration aims to undermine the profitability of ransomware attacks and enhance market-wide ransomware discipline, ultimately reducing harm to organizations. The financial toll of ransomware on UK businesses has been substantial, with … Read more