cyber News

Hackers Target Canada Miners, Casinos, Demanding Bitcoin Ransoms: FireEye

The same hacker targeting Canadian casinos and mining companies for extortion since 2013 is planning more attacks, researchers at cyber security company FireEye Inc said in a report on Friday. FireEye said it believes that a single hacker or hacking group that …

Cyber Criminals or State-Backed Hackers? It’s Getting Harder to Tell…

Veteran espionage researcher Jon DiMaggio was hot on the trail three months ago of what on the face of it looked like a menacing new industrial espionage attack by Russian cyber spies. All the hallmarks were there: targeted phishing emails …

China’s Controversial Cyber Law ‘Not Targeting’ Foreign Firms

China’s top cyber authority said on Wednesday it is not targeting foreign firms with a controversial national cyber law set to come into effect on Thursday. More than 50 overseas companies and business groups have lobbied against the law, which …

Cyber Insurance Market Growing Slower Than Expected: Allianz

The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of around 200 million euros ($224 …

FM Global Includes Top 3 Business Risks in Global Resilience Index

FM Global has expanded its Global Resilience Index to include insights around three of the top risks facing businesses: cyber attack, natural hazards and supply chain failure. The interactive, online index ranks 130 countries and territories by their enterprise resilience …

TMK Launches Visual Effects, Post Production Media Cover

Tokio Marine Kiln (TMK), the London-based specialist insurance business, announces the launch of visual effects (VFX) and post production media insurance. TMK said its post-production media insurance offers flexible cover for companies specializing in online or offline editing and digital …

Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …

Novae Expands Cyber Team with Appointment of Quick from IBM

Novae Group plc, the specialist listed Lloyd’s insurer, announced that Stuart Quick has joined its cyber team as breach response and cyber operations manager, reporting to Dan Trueman, head of cyber and chief innovation officer. Quick was previously a managing …

Firms Hit by Cyber Attack Could Face Lawsuits over Lax Security: Legal Experts

Businesses that failed to update Microsoft Windows-based computer systems that were hit by a massive cyber attack over the weekend could be sued over their lax cyber security, but Microsoft Corp. itself enjoys strong protection from lawsuits, legal experts said. …

Many Non-U.S. Firms May Be Uninsured for Recent Ransomware Attack

Many companies outside the United States may not have cover for a recent computer-system attack, leaving them potentially with millions of dollars of losses because there has been relatively little take-up of cyber insurance, insurers say. A massive ransomware worm …