cyber risk management News

Cyber Protection as Important as Missile Defense Systems: Retired NATO General

A cyber attack on the German ports of Bremerhaven or Hamburg would severely impede NATO efforts to send military reinforcements to allies, retired U.S. General Ben Hodges told Reuters. The European Commission proposed an action plan to bolster cyber defense …

Abortions, Drug Use Exposed in Cyber Attack on Australian Health Insurer Medibank

When the Australian health insurer Medibank Private Ltd. was hit with a ransomware attack last month, it provided regular updates to its customers, including the revelation that personal information from nearly 10 million of them was exposed. It also followed …

Medibank Hack Could Cost A$700M for Damages and Fixes

The data breach at Medibank Private Ltd. could cost the Australian health insurer A$700 million ($450 million) if customers decide to sue for damages after personal medical details were posted to a forum on the dark web, according to Bloomberg …

Data Stolen From Australian Health Insurer Medibank Posted on Dark Web

Data stolen from an Australian health insurer, including the names, addresses and birthdates of hundreds of customers, has been posted to a forum on the so-called dark web. The files appear to be a sample of the data that was …

Cyber Attack on Australian Insurer Medibank Far Bigger Than Initially Thought

A hack on an Australian health insurer appears to be far larger than initially suspected, with the company saying it will refuse to pay a ransom for the theft of data. The attack on Medibank Private Ltd. exposed the data …

Robust Business Continuity Plans Need Regular Updates – and Insurers Play Vital Role

Having a robust, fit-for-purpose business continuity plan (BCP) should be a central part of risk mitigation at any major organization, yet far too often companies don’t give enough consideration to the matter, and don’t update them on a regular basis. …

Cyber Officials From 37 Countries, 13 Firms to Meet in Washington on Ransomware

The White House will host officials from 37 countries and 13 global companies in Washington this week to address the growing threat of ransomware and other cyber crime, including the illicit use of cryptocurrencies, a senior U.S. official said. The …

Australia’s Hacking Frenzy Spurred by Understaffed Cybersecurity Workforce

A swathe of hacks on some of Australia’s biggest companies has made the country a target for copycat attacks just as a skills shortage leaves an understaffed, overworked cybersecurity workforce ill-equipped to stop it, technology experts said. As Monday saw …

Cybersecurity Firm OutThink Raises $10M to Tackle Human Errors Behind Data Breaches

London-based cybersecurity company OutThink has raised $10 million in early-stage investments backed by venture capital firm AlbionVC, it said on Tuesday, as it looks to help organizations identify human behavior that can lead to data breaches. The company, which says …

Lloyd’s Finds No Evidence of Data Compromise From Cyber Attack

Lloyd’s of London said on Monday that its investigation into a possible cyberattack had found no evidence of data compromise. “The investigation has concluded that no evidence of any compromise was found and as such Lloyd’s has been advised that …