Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Insurers’ Own Infrastructure Could Be Next Targets of Cyber Criminals
Jul 19 2021 // As “the next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert. With “a lack of controls at [an] insurer, [you] could have...
Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re
Jul 19 2021 // Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said this month, as ransomware attacks increase in number and severity. A ransomware attack on Colonial...
Cyber Risks No Longer Science-Fiction for Libraries
Jul 19 2021 // When the pandemic forced nearly all libraries in the U.S. to close for more than half of 2020, these long-time community institutions took the opportunity to adapt all or most of their programming to a digital format and...
Tulsa, Oklahoma: Network Hack Gained Some Social Security Numbers
Jul 16 2021 // Hackers gained access to the Social Security numbers of more than two dozen people during a ransomware attack that forced the city of Tulsa to shut down parts of its computer network for months, officials said. The hackers...
Kentucky To Rebid Unemployment Insurance System Amidst Cybersecurity Concerns
Jul 16 2021 // Concerns about cybersecurity have led the state of Kentucky to extend its search for a company to modernize its pandemic-stressed unemployment insurance system, Gov. Andy Beshear’s administration said Wednesday. The...
Wisconsin’s Insurance Cybersecurity Measures Signed into Law
Jul 16 2021 // Wisconsin’s governor has signed into law legislation creating new cybersecurity requirements for protecting data collected by the insurance industry. Governor Tony Evers signed Act 73, which is based on model...
People Moves: Aon’s EMEA Promotions; Lockton Re Hires Charit from Aon; Miller Names Hobbs as Head of Cyber
Jul 16 2021 // This edition of International People Moves covers appointments at three re/insurance brokers: Aon, Lockton Re and Miller. A summary of these new hires follows here. Insurance broker Aon plc has announced several promotions...
U.S. Launches ‘Stop Ransomware’ Website; Offers Reward Up to $10M
Jul 16 2021 // The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity against critical U.S. infrastructure —...
Coalition Enters Canadian Excess Cyber Insurance Market
Jul 15 2021 // Coalition, the San Francisco-based cyber insurance and security company, announced it will enter the excess cyber insurance market in Canada to help protect businesses with enhanced coverage. With the coverage, Coalition...
What Insurers Should Know as Ransomware Takes Center Stage
Jul 14 2021 // Cyber criminals aren’t just stealing passwords and data. They’re stealing the spotlight. Amid the ongoing COVID-19 pandemic that has been a global focus since government shutdowns began in March of last year,...
Ransomware Gang REvil’s Websites Vanish; Reason Unknown
Jul 14 2021 // Websites run by the ransomware gang REvil suddenly became unreachable on Tuesday, sparking widespread speculation that the group had been knocked offline. The Russia-linked cybercrime ring has collected tens of millions of...
Remote Working Causes Cyber Attacks to Skyrocket, Says Financial Stability Board
Jul 13 2021 // Financial firms may need to bolster their defenses in the face of rocketing cyber attacks after employees began working from home, the Financial Stability Board (FSB) said on Tuesday. The FSB, which coordinates financial...
German Cyber-Security Watchdog Confirms Country’s First ‘Cyber-Catastrophe’
Jul 12 2021 // A district council in eastern Germany has declared a disaster after its computer systems were paralyzed by a hacker attack in what the federal cyber-security watchdog confirmed was the country’s first-ever...
Silent Cyber: An Issue Making Noise Across Industries and Coverage Lines
Jul 12 2021 // This post is part of a series sponsored by Amwins. As cyber events evolve in sophistication, scale and frequency, property and casualty line carriers are growing concerned about the potential for unintended claims. These...
Vendor Data Breach Exposed Morgan Stanley’s Corporate Client Data
Jul 9 2021 // Morgan Stanley has disclosed that personal data of some of its corporate clients was stolen in January in a data breach that involved a third-party vendor and hackers accessed information, including social security...
Biden Under Pressure to Counter Growing Ransomware Threat
Jul 8 2021 // President Joe Biden on Wednesday discussed the possibility of responding to a spate of ransomware attacks against U.S. entities that are believed to be perpetrated by Russian-linked hackers, a growing concern for his...
How Russian Military Uses ‘Brute Force’ to Hack U.S. Government, Companies
Jul 8 2021 // U.S. and British agencies disclosed last week details of “brute force” methods they say have been used by Russian intelligence to try to break into the cloud services of hundreds of government agencies, energy...
Does It Ever Make Sense for Firms to Pay Ransomware Criminals?
Jul 8 2021 // The global insurance company AXA announced in May it will stop writing cyber insurance coverage in France that reimburses customers for making payments to ransomware criminals. Cyber insurance policies have long covered...
Southeastern Alabama Utility Hit By Ransomware Attack
Jul 7 2021 // A utility that provides power in rural southeastern Alabama said it was hit by a ransomware attack that means customers temporarily can’t access their account information. Wiregrass Electric Cooperative, which serves...
Leading by Example: How Insurers Can Manage Cyber Risk Within Their Own Operations
Jul 7 2021 // Powered by InsuranceJournal.tv Insurers often advise clients on cyber resilience, however, many in the industry overlook their own risks or struggle to take their own advice to insureds, according to guests on this episode...
