President Joe Biden on Wednesday signed an executive order intended to strengthen U.S. cybersecurity by improving information sharing about attacks with the private sector and adopting better safety practices throughout the government. It also seeks to improve the government’s response to major cyber-attacks. The order has been in the works for months but was released… Continue reading Biden Signs Order to Boost Cybersecurity After Pipeline Hack
Tag: cyber attacks
Cowbell Cyber Rings Up $20M for Cyber Insurance
Pleasanton, California-based Cowbell Cyber raised a $20 million Series A as more small and medium-sized enterprises look for insurance against the growing number of cyberattacks. The new round was led by Brewer Lane Ventures, with participation from Pivot Investment Partners, Avanta Ventures, Markel Corp. and existing investors ManchesterStory, Tri-Valley Ventures and Holmes Murphy. Founded in… Continue reading Cowbell Cyber Rings Up $20M for Cyber Insurance
Cyber Risk in a New Era: Let’s Not Be Quiet About Insurers’ Exposure to Silent Cyber
The pandemic year of 2020 saw a step change in the complexity and sophistication of cyber attacks and, therefore, in the nature of cyber risks. The financial consequences for the victims of such attacks are huge. According to the Hiscox Cyber Readiness Report 2020, the median cost of a cyber attack rose almost sixfold worldwide… Continue reading Cyber Risk in a New Era: Let’s Not Be Quiet About Insurers’ Exposure to Silent Cyber
Cyberattacks Spike Globally As Criminals Target Under-Pressure Hospitals
Cybersecurity attacks targeting healthcare organizations amid the coronavirus pandemic have spiked globally, and since the start of November these attacks have surged 45 percent, Check Point Software Technologies said in a new report. The average number of weekly attacks in the healthcare sector globally reached 626 in November, compared with 430 in October. This is… Continue reading Cyberattacks Spike Globally As Criminals Target Under-Pressure Hospitals
Cyber Insurance Claims on the Rise
External attacks on companies result in the most expensive cyber insurance losses, but it is employee mistakes and technical problems that are the most frequent generator of claims by number, according to a report from Allianz Global Corporate & Specialty (AGCS). The study analyzes 1,736 cyber-related insurance claims worth EUR 660mn (US$ 770mn) involving AGCS… Continue reading Cyber Insurance Claims on the Rise
Tokio Marine HCC Group Takes Strategic Action Against Ransomware Threats with Next Generation Antivirus
Tokio Marine HCC – Cyber & Professional Lines Group today announced an arrangement with CrowdStrike, a leader in cloud-delivered endpoint and workload protection, to offer CrowdStrike’s industry-leading endpoint protection to insureds to help customers address the increasing risk of ransomware attacks and other sophisticated threats. The cloud-native CrowdStrike Falcon platform is built to address today’s… Continue reading Tokio Marine HCC Group Takes Strategic Action Against Ransomware Threats with Next Generation Antivirus
Treasury Warns Against Keeping Ransomware Payments Quiet
Victims of ransomware schemes and financial institutions could violate sanctions or anti-money-laundering rules—and face stiff penalties—if they facilitate or make payments to attackers, the U.S. Treasury Department said in a pair of advisories Thursday. The notices, issued by units of Treasury’s Office of Terrorism and Financial Intelligence, warned victims and businesses that assist them to… Continue reading Treasury Warns Against Keeping Ransomware Payments Quiet
Average Cost of Healthcare Data Breach Rises to $7.1M: IBM Report
A healthcare data breach comes with a hefty price tag—to the tune of $7.13 million on average. That’s up more than 10% from last year, when the average data breach cost healthcare organizations $6.45 million, according to IBM Security’s 2020 data breach cost report. Healthcare organizations continue to have the highest costs associated with data… Continue reading Average Cost of Healthcare Data Breach Rises to $7.1M: IBM Report
Poll Finds Americans See Infectious Diseases, Terrorism, Cyberattacks as Top Threats
Americans rank the spread of infectious disease, terrorist attacks and cyberattacks as the top national security threats, a study released by the Pew Research Center on Monday found. Pew researchers found that 79 percent of those surveyed ranking the spread of infectious diseases, such as COVID-19, as the top threat to the country. More than… Continue reading Poll Finds Americans See Infectious Diseases, Terrorism, Cyberattacks as Top Threats
Ransomware Attack Exposes Poor Energy-Sector Cybersecurity
The energy sector remains vulnerable to cyberattacks despite years of threats, as illustrated by an alert issued last week by the Department of Homeland Security. The alert from the department’s Cybersecurity and Infrastructure Security Agency described a ransomware attack on an unnamed natural-gas pipeline operator that halted operations for two days while staff shut down,… Continue reading Ransomware Attack Exposes Poor Energy-Sector Cybersecurity