Eastern European criminals are targeting dozens of U.S. hospitals with ransomware, and federal officials on Wednesday urged healthcare facilities to beef up preparations rapidly in case they are next. The FBI is investigating the recent attacks, which include incidents in Oregon, California and New York made public just this week, according to three cybersecurity consultants… Continue reading A Wave of Ransomware Attacks Strike U.S. Hospitals
Tag: cyber insurance
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
Mounting Health-Care Ransomware Attacks Morph Into a Deadly Concern
Hackers are increasingly targeting health-care institutions and threatening people’s well-being as their software attacks get more sophisticated and brazen. Ransomware attacks, in which hackers cripple a software system until they receive a bounty, have surged this year, along with financial demands, security experts say. The attacks have been around for decades but have flourished as… Continue reading Mounting Health-Care Ransomware Attacks Morph Into a Deadly Concern
Anthem to Pay Almost $40M to Settle 2015 Cyberattack Investigation
Anthem will pay a $39.5 million settlement to a group of state attorneys general following an investigation into a 2015 cyberattack, according to a Wednesday announcement. Anthem said it was a victim of a “sophisticated state sponsored criminal attack group,” and said it does not believe it violated data security laws and is not admitting… Continue reading Anthem to Pay Almost $40M to Settle 2015 Cyberattack Investigation
Travelers Introduces IndustryEdge® Program for Professional Services
The Travelers Companies, Inc. today announced the launch of IndustryEdge for Professional Services. This tailored business insurance solution offers coverages including general liability, property, commercial auto, workers compensation, professional liability and cyber to help customers mitigate industry-specific risks such as data breaches, theft and lawsuits. IndustryEdge for Professional Services is specially designed to meet the… Continue reading Travelers Introduces IndustryEdge® Program for Professional Services
Willis Re Survey Finds COVID-19 Fuels Cyber Losses
Risk professionals believe the overall level of cyber attacks will increase as a result of COVID-19. Of nearly 1,000 respondents to Willis Re’s 2020 Cyber Risk Outlook survey, 86% believe frequency will increase, and 54% believe severity will rise, according to the annual, global survey by the reinsurance division of Willis Towers Watson, a leading… Continue reading Willis Re Survey Finds COVID-19 Fuels Cyber Losses
Cybercriminals Step Up Social Engineering During Pandemic
Cybercriminals have been going to great lengths throughout 2020 to get their hands on confidential information such as log-in details that let them bypass a company’s security systems and commit theft or fraud by manipulating employees using fake or doctored emails. While this form of online social engineering had declined from Q4 2019 to Q1… Continue reading Cybercriminals Step Up Social Engineering During Pandemic
Ransomware Dominates 41% of all Cyber Insurance Claims in H1 2020
Just-released data from cyber insurer Coalition shows massive increases in both the frequency of ransomware attacks and the ransom demand with Maze and Ryuk leading the way. We’ve been seeing more and more cybercriminals turning to ransomware as a go-to strategy to generate their criminal revenue. Many are turning to using both encryption and the… Continue reading Ransomware Dominates 41% of all Cyber Insurance Claims in H1 2020
Cyber Attacks Are Seen Pushing Up Risk Premiums for Stocks
U.S. equity investors are demanding higher risk premiums to compensate for rising cyber threats as the coronavirus pandemic pushes more businesses to move online. That’s according to researchers at Michigan State University who found that funds adjust their positions according to the “cyber riskiness” of holdings, especially when data breaches are high. Hackers prefer larger… Continue reading Cyber Attacks Are Seen Pushing Up Risk Premiums for Stocks