Latest Cyber Headlines

All the headlines from our Cyber Topic Page, ordered by recency.

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...

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...

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...

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...

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...