As per a new report from Corvus Insurance, Q1 2024 has set a record for the most global ransomware attacks in a first quarter.
Tag: cyber insurance
Beazley Wary of Social Inflation Effect While Cyber Premiums Sag
Beazley plc saw lower first-quarter premiums in cyber as the group implements its excess and surplus operation and remains wary of lines affected by social inflation.
FBI Says Chinese Hackers Preparing to Attack U.S. Infrastructure
Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting “for just the right moment to deal a devastating blow,” FBI Director Christopher Wray said on Thursday.
Average Premium Renewal Rates Remain Up Year Over Year: Ivans
The first quarter results of 2024 showed premium renewal rate change for all major commercial lines of business except Workers’ Compensation are up year over year. Q1 2024 experienced an increase in average premium renewal rate change across all major commercial lines compared to Q4 2023.
U.S. Cyber Insurance Maintains Strong Profits; Premium Growth Slows
The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, Fitch Ratings says.
Roku Says 576,000 User Accounts Hacked after Second Security Incident
Streaming giant Roku has confirmed a second security incident in as many months, with hackers this time able to compromise more than half a million Roku user accounts.
ITRC: Data Breach Notices Nearly Doubled in Q1 2024
The number of publicly reported data compromise events jumped 90% year-over-year in the first quarter of 2024, with the number of organizations falling victim to supply chain attacks nearly tripling, according to recent data from the Identity Theft Resource Center (ITRC).
Companies Fall Short on Curbing Cybersecurity Risks from Vendors: Moody’s
Most companies and organizations in the U.S. and Canada fall short on limiting cybersecurity risks from third-party vendors even as they give cyber managers more clout and boost spending on averting attacks, Moody’s Investors Service said in a report.
Microsoft Is Faulted for ‘Inadequate’ Cyber Practices in U.S. Report
A Chinese-state intrusion last year of Microsoft Corp. technology that enabled hackers to gather US officials’ emails “should never have occurred,” according to a report released Tuesday from a government cyber review board.
SEC Ramps Up Massive-Hack Probe With Focus on Tech, Telecom Companies
The U.S. Securities and Exchange Commission is asking tech and telecom companies how they handled the sprawling 2020 SolarWinds cyberattack, and drawing fire from the cybersecurity industry and big business for what they call overreach.