Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Cyber Criminals Nabbed $1.3B in Ransom Payments Over 2 Years: Report
Feb 11 2022 // Criminals netted $1.3 billion in ransom payments from hacking victims in the past two years, reflecting a massive surge in cyber-crime that has prompted a global effort to stop it, according to a new report from...
UK Insurer Beazley Sees Opportunity (and Risk) in Cyber Market
Feb 10 2022 // UK insurer Beazley Plc returned to profit last year, helped by what it sees as “encouraging” trends in the cyber market. With ransomware attacks becoming more prevalent, the company sees still more opportunity...
10 Cyber Attacks in 2021 Cost $600M With 40,000 Businesses Put at Risk
Feb 10 2022 // In just 10 cyber incidents last year, over $600 million in cash was stolen or taken as ransom, tens of millions of citizen records stolen, 40,000 businesses’ IT operations put at risk, one billion airline passenger...
Banks Warned to Prepare for Possible Russian-Sponsored Cyber Attack
Feb 9 2022 // FRANKFURT/LONDON – The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, two people with knowledge of the matter said, as the region braces for the...
Couple Accused of Laundering $4.5B in Bitcoin Tied to 2016 Hack
Feb 9 2022 // The U.S. Justice Department said on Tuesday it has unraveled its biggest-ever cryptocurrency theft, seizing a record-shattering $3.6 billion in bitcoin tied to the 2016 hack of digital currency exchange Bitfinex and...
Cyber Attack Targeting German Fuel Storage Stretches to 6th Day
Feb 8 2022 // A cyber attack targeting fuel storages in Germany and parts of northern Europe stretched into a sixth day with little visibility over when things will get back to normal. Mabanaft Germany, whose systems were breached,...
U.S. Surplus Lines Premium Up 22% in 2021
Feb 7 2022 // Surplus lines premium increased 22% and transactions rebounded almost 6.6% over their 2020 totals in the 15 states with designated surplus lines’ stamping offices. The increases represented record levels of premium...
Cybercrime Gang Tied to Ransomware Attacks in Germany, Colonial Pipeline Hackers
Feb 4 2022 // A Russia-linked cybercrime gang was allegedly responsible for ransomware attacks that took down a swath of Germany’s fuel-distribution system this week and hindered payments at some filling stations. Hackers using a...
News Corp. Suspects China Behind Cyber Attack on Its Email System
Feb 4 2022 // Digital intruders broke into News Corp. email accounts and compromised the data of an unspecified number of journalists, the company disclosed Friday, and the media firm’s internet security adviser said the attack...
People Moves: Liberty Specialty Promotes 2, Hires Political Risk U/W; HDI Global Names Röllecke Head of Cyber/Financial; Ex-Lloyd’s CEO Ward Becomes CFC’s Non-Exec. Chair
Feb 4 2022 // This edition of International People Moves details appointments at Liberty Specialty Markets, HDI Global and CFC Underwriting. A summary of these new hires follows here. Liberty Financial Risk Solutions Promotes 2, Hires...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Feb 4 2022 // Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber attack known as...
UK Snack Company Hit by Ransomware Attack, Which Could Cause Delivery Delays
Feb 3 2022 // Hackers are hitting Britain where it hurts by targeting some of its favorite savory snacks, with the likes of Hula Hoops, KP Nuts, Butterkist popcorn and Nik Naks in their cyber sights. The company behind those brands, KP...
Crypto Platform Wormhole Says ‘Funds Are Safe’ After Hackers Steal $320M
Feb 3 2022 // Cryptocurrency platform Wormhole said on Thursday that “all funds are safe” after hackers stole more than $320 million from its site in the fourth-largest crypto heist on record. Wormhole, which allows the...
Hackers Target Key Fuel-Distribution Firms in Europe
Feb 3 2022 // Europe’s fuel-supply network fell victim to a cyberattack — less than a year after the biggest refined petroleum pipeline in the U.S. was halted by a hack. The situation was serious “but not grave,”...
Rhode Island Bus Service Says Data Breach Affected 22,000
Feb 2 2022 // A data breach at the state agency that operates Rhode Island’s public bus service compromised the personal information of about 22,000 people, significantly higher than the previously announced number of 17,000,...
Insurers Grapple With Uncertainty Around Catastrophic Cyber Risk
Feb 2 2022 // Powered by InsuranceJournal.tv Much uncertainty exists around catastrophic cyber threats, and for an industry so focused on analyzing risk, that’s a big challenge, experts say. Some of the recent cyber attacks on...
Global Commercial Insurance Rates Keep Moderating, With Exception of Cyber: Marsh
Feb 2 2022 // Global commercial insurance prices increased 13% in the fourth quarter of 2021, a decline from the 15% increases seen in both the second and third quarters, according to Marsh’s latest Global Insurance Market...
Cyber MGA Resilience Forms Captive Insurer in Bermuda
Feb 1 2022 // Cyber insurance and security provider Resilience Cyber Insurance Solutions has created a captive reinsurance company. Through the Bermuda-based captive, Resilience will retain a share of each risk it underwrites. CJ...
Hackers Seize $80M of Digital Assets From Qubit in Latest DeFi Attack
Jan 31 2022 // More than $80 million of digital assets were swiped from a decentralized finance platform in the latest hack of cryptocurrency trading marketplaces. A blockchain extension by Qubit Finance, a DeFi lending firm, was...
White House Plan Aims to Strengthen Cyber Defenses for Water Utilities
Jan 31 2022 // The White House on Thursday unveiled a plan to beef up cybersecurity in the nation’s water sector, an extension of its efforts to thwart attacks against critical infrastructure including electricity and natural gas...
