Ransomware payments dropped significantly in 2022, but they’ve shown a major rebound in the first half of 2023, as threat actors switch up their tactics and demands, according to the latest numbers from Chainalysis.
Tag: cyber liability
Identity Theft Resource Center Sees Record-Setting Number of Data Compromises in Q2
According to the H1 2023 Data Breach Report, there were 951 publicly-reported data compromises in the quarter, a 114 percent increase compared to the previous quarter (445 compromises).
Lack of Actionable Information in Notices Continues to Grow: ITRC Data Breach Analysis
According to ITRC’s Q1 2023 Data Breach Analysis, among the top ten breaches in Q1, 60 percent did not include information about the root cause of the event, compared to 40 percent in Q4 2022.
The Cyber Insurance Market Is Making a Comeback
After being battered by a rash of pandemic-era ransomware attacks, the cyber-insurance market is making a comeback
Professional Liability in the Crypto World
The cryptocurrency industry is growing, and it’s important for insurance agents to understand the risks.
One in Four Companies Globally Suffered a Data Breach: PwC
According to PwC’s annual Global Digital Trust Insights Survey, which polls more than 3,500 senior executives from 65 countries, one in every four companies [27%] has experienced a data breach that cost them $1-$20 million or more in the last three years. “The percentage rises to one in three [34%] for companies surveyed in North… Continue reading One in Four Companies Globally Suffered a Data Breach: PwC
Cyber Threats Once Again at the Top of Travelers Risk Index
According to the 2022 Travelers Risk Index results, cyber threats have been identified as the top overall concern for business decision makers for the third time in four years. More participants believe today’s business environment is riskier than a year ago, and more than half believe a future cyber attack on their company or organization… Continue reading Cyber Threats Once Again at the Top of Travelers Risk Index
Ransomware, Email Compromise Are Top Security Threats While Deepfakes Increase
While ransomware and business email compromise (BEC) are the most common causes of security incidents for businesses, geopolitics and deepfakes are becoming more prevalent, according to reports from two leading cyber security firms. According to VMware’s 2022 Global Incident Threat Response Report, there is a steady increase in extortionate ransomware attacks and BEC, as well… Continue reading Ransomware, Email Compromise Are Top Security Threats While Deepfakes Increase
Biden’s Russia Cyber Warning Confuses Ill-Prepared Businesses
A day after US President Joe Biden issued a stark warning that a Russian cyberattack “is coming,” members of his administration convened a three-hour conference call with approximately 13,000 people representing businesses, government agencies, and other organizations to discuss the potential threat. The discussion highlighted the difficulties the Biden administration faces in protecting the country… Continue reading Biden’s Russia Cyber Warning Confuses Ill-Prepared Businesses
Cyber Rates Continue to Rise, Doubling in Some Geographies
Global commercial insurance prices increased 13% in the fourth quarter of 2021, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk advisor, continuing a trend of moderating rate increases that began in Q1 2021. While this is the 17th consecutive quarter of increases, the rate of… Continue reading Cyber Rates Continue to Rise, Doubling in Some Geographies