Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
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...
British Airways Settles Class Action with 2018 Data Breach Victims
Jul 7 2021 // British Airways has settled a case brought by customers and staff affected by a massive 2018 data breach that led to personal information being leaked, the court-appointed lead solicitors in the case said on Tuesday. Law...
Cyber Insurance Industry in Crosshairs of Ransomware Criminals
Jul 7 2021 // In the past few weeks, ransomware criminals claimed as trophies at least three North American insurance brokerages that offer policies to help others survive the very network-paralyzing, data-pilfering extortion attacks...
Kaysea Ransomware Attack Caused ‘Minimal Damage’ to U.S. Firms, Biden Says
Jul 7 2021 // President Joe Biden said on Tuesday the ransomware attack centered on the Florida information technology firm Kaseya seems to have inflicted only “minimal damage” on American businesses. “It appears to...
Kaseya Ransomware Attack by REvil Gang Is Global in Scale
Jul 6 2021 // Cyber-security teams worked feverishly Sunday to stem the impact of the single biggest global ransomware attack on record, with some details emerging about how the Russia-linked gang responsible breached the company whose...
Update: Ransomware Attack on Kaseya Affects Up to 1,500 Firms; Hackers Ask $70M
Jul 5 2021 // Between 800 and 1,500 businesses around the world have been affected by a ransomware attack centered on U.S. information technology firm Kaseya, its chief executive said on Monday. Fred Voccola, the Florida-based...
Like ‘Terminator,’ High-Tech Cyber Crime to ‘Keep Coming’
Jul 5 2021 // Businesses worldwide are fighting sophisticated data scientists as they battle to protect their data-rich computers from cyber crime – and the costly attacks are not going to stop, an expert at insurer Sompo Holdings...
A Message from a Cybersecurity Expert
Jul 5 2021 // Here we go again, same evil, same demons: trojan horses, bots and botnets, spyware, worms, scams and phishing. Then there’s ransomware, a set of malware programs that hackers install on your network that blocks...
P/C Insurers Defend Ransomware Reimbursements in New Cyber Principles
Jul 2 2021 // The nation’s largest property/casualty insurance organization is defending ransom payment reimbursements by insurers in a new set of principles stressing that the insurance industry wants to partner with government...
Insurers’ Own Infrastructure Could Be Next Targets of Cyber Criminals
Jul 2 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...
New York Regulator Issues New Guidance on Growing Ransomware Threat
Jul 2 2021 // The New York State Department of Financial Services (DFS) has issued new guidance on preventing ransomware attacks. In the guidance, DFS identifies cybersecurity controls that it says reduce the risk of a ransomware attack...
Insurance Broker A.J. Gallagher Reports on Investigation Into 2020 Ransomware Attack
Jul 1 2021 // An investigation by insurance broker Arthur J. Gallagher & Co. into a ransomware attack on its systems last September has revealed that personal information on individuals was accessed. The broker is in the process of...
Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re
Jul 1 2021 // Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said on Thursday, as ransomware attacks increase in number and severity. A ransomware attack on Colonial...
