President Joe Biden said on Tuesday the ransomware attack centered on the Florida information technology firm Kaseya seems to have inflicted only “minimal damage” on American businesses. “It appears to have caused minimal damage to U.S. businesses, but we’re still gathering information,” Biden told reporters following a briefing from advisers. “I feel good about our… Continue reading Biden Says Kaseya Ransomware Attack Caused ‘Minimal Damage’ to U.S. Companies
Tag: Cyber Liability insurance
New Chubb Whitepaper Explores Common Types of Email Social Engineering Schemes
Chubb has released a new whitepaper, co-authored with Gordon Rees Scully Mansukhani LLP and PaymentWorks, that explores the common types of email social engineering schemes, particularly involving payments and suppliers, and how today’s cyber criminals are employing more sophisticated social engineering attacks than in the past. The paper, “Guarding Against Email Social Engineering Fraud: Re-examining… Continue reading New Chubb Whitepaper Explores Common Types of Email Social Engineering Schemes
Liberty Mutual Offers Complimentary Cybersecurity Assessment to Select Cyber Clients
Liberty Mutual Insurance has partnered with leading cyber security rating provider SecurityScorecard to offer complimentary cybersecurity analysis to qualifying clients of its Global Risk Solutions North America and Liberty Specialty Markets units. Through Liberty Mutual’s strategic relationship with SecurityScorecard, qualifying policyholders will receive a detailed analysis of their cybersecurity and the external threats to which… Continue reading Liberty Mutual Offers Complimentary Cybersecurity Assessment to Select Cyber Clients
DOJ Task Force Targeting Ransomware
The Justice Department has formed a task force to curtail the proliferation of ransomware cyberattacks, in a bid to make the popular extortion schemes less lucrative by targeting the entire digital ecosystem that supports them. In an internal memorandum issued this week, Acting Deputy Attorney General John Carlin said ransomware poses not just an economic… Continue reading DOJ Task Force Targeting Ransomware
Ransomware Took Heavy Toll on U.S. in 2020: Researchers
Ransomware attacks took a heavy toll on the United States last year with more than 2,000 victims in government, education and health care, security researchers say in a new report. The study released Monday by the security firm Emsisoft said ransomware attacks — which encrypt and disable computer systems while demanding a ransom — affected… Continue reading Ransomware Took Heavy Toll on U.S. in 2020: Researchers
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
Arthur J. Gallagher Targeted in Ransomware Attack
International insurance brokerage firm Arthur J. Gallagher & Co has confirmed that it was the target of a ransomware attack on September 26th. The firm said the incident impacted a “limited portion” of its internal systems, and does not expect it to have a material impact on its operations or financial condition. “We promptly took… Continue reading Arthur J. Gallagher Targeted in Ransomware Attack
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
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
Study Finds Most Businesses Insured Against Traditional Cyber Insurance Risks – But Vulnerable to Emerging Risks
A new study commissioned by The Hanover Insurance Group, Inc. found the majority of business decision makers are insured against traditional cyber risks, such as breaches of personal information, but most were vulnerable to emerging risks, such as malware and ransomware, revealing a potential gap in their insurance coverage. The Hanover’s Cyber Risk Report, conducted… Continue reading Study Finds Most Businesses Insured Against Traditional Cyber Insurance Risks – But Vulnerable to Emerging Risks