Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
U.S. Banks Spent $1B on Ransomware Payments in 2021: Treasury Department
Nov 2 2022 // US financial institutions spent nearly $1.2 billion on likely ransomware-related payments last year, most commonly in response to breaches originating with Russian criminal groups, according to the Treasury Department. The...
People Moves: Chaucer Taps AXA XL’s Tuggey to Lead Cyber; LSM Appoints Chubb’s Vince for Broker Mgmt; QBE Int’l Names Stokoe, Fuller to Exec Board, Expanding Roles
Nov 2 2022 // This edition of International People Moves details appointments at Chaucer, Liberty Specialty Markets, and QBE International. A summary of these new hires follows here. Chaucer Names AXA XL’s Tuggey as Head of...
Cyber Officials From 37 Countries, 13 Firms to Meet in Washington on Ransomware
Oct 31 2022 // 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...
Europe’s Biggest Copper Smelter Hit as Part of Wider Cyberattack on Metals Industry
Oct 31 2022 // Aurubis, Europe’s biggest copper smelter, said on Friday it had been targeted as part of a wider cyberattack on the metals and mining industry which had forced it to shut down its IT systems and disconnect them from...
Australia’s Hacking Frenzy Spurred by Understaffed Cybersecurity Workforce
Oct 31 2022 // 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...
What Cyber Underwriters Miss: Small Businesses Aren’t Using MFA Correctly, Advisen Panel Says
Oct 31 2022 // As cyber threat actors continue to innovate and find new ways to increase their odds of success, panelists at the 2022 Advisen Cyber Risk Insights Conference urged underwriters to raise the stakes when assessing...
Global Insurance Rates Continue Rising at Slower Levels; Cyber Outpaces Other Lines
Oct 27 2022 // Global insurance pricing continued to rise, although at a slower pace, during the third quarter, which saw commercial insurance premiums increase an average of 6%, down from 9% in Q2, according to Marsh’s Global...
Rhode Island Bus Service, Health Insurer Sued Over Data Breach
Oct 27 2022 // Two people whose personal information was compromised in a data breach at Rhode Island’s public bus service that affected about 22,000 people sued the agency and a health insurer this week seeking monetary damages...
Texas Uber Drivers Victimized by Data Breach Receive $4.2M
Oct 26 2022 // Texas Attorney General Ken Paxton announced that his office has completed its distribution of $4.2 million in redress payments to approximately 42,000 Texans whose personal information was compromised in a 2016 data breach...
Building the Workforce of Tomorrow with K-12 Cybersecurity Education
Oct 26 2022 // Powered by InsuranceJournal.tv Cybersecurity is becoming more important in an increasingly digital world, and experts agree that good cybersecurity starts with a good education. As the use of technology and tech platforms...
U.S. Official Sees More Aggressive Cybersecurity Threats From Russia, China etc.
Oct 25 2022 // Secretary of Homeland Security Alejandro Mayorkas said the US has observed growing cybersecurity threats both at home and throughout Asia, and is warning against activity coming from Russia, China, North Korea and...
Business Leaders Overconfident About Cyber Threats: Beazley
Oct 21 2022 // Cyber remains a top concern, but business leaders may be overconfident about their resilience against the threat, according to new research from Beazley. Cyber was chosen as the No. 1 technology risk for 28% of UK and U.S....
‘Financial Hacking’ Plagues DeFi in Latest Setback for Crypto
Oct 20 2022 // Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year’s collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking. After...
Cybersecurity Firm OutThink Raises $10M to Tackle Human Errors Behind Data Breaches
Oct 20 2022 // 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...
Australia’s No. 1 Health Insurer Confirms Massive Data Breach, Theft of Patient Details
Oct 20 2022 // Australia’s biggest health insurer said on Thursday a criminal had apparently stolen customers’ medical information as part of a massive breach of data, fueling concern about a wave of high-profile cyber...
Hackers Targeting Tech Supply Chains Spur Security Startup Boom
Oct 19 2022 // Cyberattacks on the digital supply chain have become increasingly common, as hackers seek out weak links among makers of computer code and equipment to breach organizations that depend on the technologies. In 2020, for...
New York’s $4.5M Cybersecurity Settlement with EyeMed Bars Insurance Recovery
Oct 19 2022 // Health insurance company EyeMed Vision Care LLC will pay a $4.5 million penalty to New York State for violations of the state’s cybersecurity regulation that officials said exposed hundreds of thousands of...
People Moves: Lockton Re Taps CyberCube’s Brew for London Cyber Practice; Howden Hires Tysers Godfrey for Equine Division; Carpenter’s Delegated Authority Unit Hires 3
Oct 19 2022 // This edition of International People Moves details appointments at three brokers: Lockton Re’s Cyber Practice, Howden’s Equine division and Guy Carpenter’s delegated authority unit. A summary of these new...
Australian Insurer Medibank Says Hackers Claim to Have Stolen Customer Data
Oct 19 2022 // Australia’s Medibank Private Ltd. said on Wednesday an unnamed hacker group had contacted it negotiate about customer data it claimed to have retrieved from the health insurer’s IT systems. The news comes six...
People Moves: New QBE Marine Hires; Hirschorn Joins Lockton as U.S. Cyber Claims Lead
Oct 19 2022 // QBE Appoints New Marine VPs Sean Dollahon QBE International Markets is increasing its presence in the US marine insurance space and has appointed Sean Dollahon, vice president, US marine manager, and Katie McCord, vice...
