Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Collateral Damage: How Cyber Security Affects Agencies
Jul 6 2020 // As we reach the midpoint of a trying year, it might be time to take a quick breather. From a cyber liability perspective, however, the pressure on agents will ramp up considerably in the second half of the year....
How to Reduce the Expense of cyber business interruption
Jul 6 2020 // According to the IBM “Cost of a Data Breach Report, 2019”, business interruption (BI) represents 36% of the cost of a cyber breach, averaging a whopping $1.42 million per breach. The report states that, for the...
M&T Insurance Agency Benefits from Cyber Risk Analytics Platform Through CyberCube
Jul 2 2020 // Clients of M&T Insurance Agency Inc. (MTIA), a provider of commercial insurance and risk management solutions that is part of the M&T Bank Corporation family, will now benefit from a new cyber risk analytics...
Australia to Spend Nearly $1 Billion on Cyber Security During Next Decade
Jun 30 2020 // SYDNEY – Australia will spend A$1.35 billion ($926.1 million) over the next 10 years to boost its cyber security defenses, Prime Minister Scott Morrison said on Tuesday, as Canberra seeks to combat a wave of attacks. The...
U. of California, San Francisco, Paid $1.14M After Ransomware Attack
Jun 29 2020 // The University of California, San Francisco paid criminal hackers $1.14 million this month to resolve a ransomware attack. The hackers encrypted data on servers inside the school of medicine, the university said Friday....
Cybersecurity Firm Exposes Chinese Tax Software’s Malware That Endangers Networks
Jun 26 2020 // When a U.K.-based technology vendor started doing business in China, it hired a cybersecurity firm to proactively hunt for any digital threats that could arise as part of doing business in the country. The firm discovered...
Canadian Privacy Panel Finds LifeLab’s Data Breach Was One of Biggest
Jun 26 2020 // Canadian laboratory testing company LifeLabs failed to adequately protect sensitive health information of millions of people, resulting in one of the biggest data breaches in the country last year, privacy commissioners...
More Than 10,000 People Join Lawsuit Against EasyJet for Massive Data Breach
Jun 24 2020 // EasyJet Plc faces a lawsuit over a data breach disclosed last month that potentially exposed private details of 9 million passengers. More than 10,000 people have joined the suit since it was filed last month, according to...
BenefitMall in Texas Partners with Benefits and Security Provider, CyberScout
Jun 23 2020 // Dallas-based employee benefits provider, BenefitMall, has partnered with CyberScout, a provider cybersecurity, identity theft resolution and employee benefits services. BenefitMall brokers will now be able to offer...
Business Cyber Losses Soar but Firms Fight Back with Extra Security Spending: Study
Jun 23 2020 // Cyber losses among businesses have risen nearly six-fold during the past year, from a median cost of $10,000 per firm to $57,000, according to an international survey commissioned by insurer Hiscox. Total cyber losses...
State-Based Hackers Target Australia Government, Critical Infrastructure: Prime Minister
Jun 19 2020 // Australia’s government, health and education services and various industries are being targeted by sophisticated state-based cyber attacks, Prime Minister Scott Morrison said Friday. Morrison said that while the...
New Marine Cyber Specialist Astaara Gets Investment from West of England P&I Club
Jun 17 2020 // Astaara, a marine insurance services business, announced it has secured a significant investment from UK marine insurer West of England P&I Club. Astaara is a new company, focused on risk management and loss...
Allianz Global Corporate & Specialty Launches ‘Cyber Protect’ Product for UK Market
Jun 16 2020 // Allianz Global Corporate & Specialty (AGCS) announced the launch of a new Allianz Cyber Protect product in the UK. AGCS, Allianz’s entity for large-scale corporate and specialty risks, released its new Allianz...
Aon’s Seyfried Joins AXIS Cyber Insurance Leadership in U.S.
Jun 16 2020 // Specialty insurer AXIS Insurance reported it has hired Eric Seyfried as Head of Cyber U.S. Open Market. In this new role, Seyfried will help implement the U.S. strategy for AXIS Insurance’s global cyber and...
Aon Expands Cyber Risk Assessment to Address Exposures of Remote Work
Jun 16 2020 // Aon has expanded the scope of CyQu Enterprise, a cyber risk assessment methodology, to help analyze the cyber security impacts of recent network access or policy changes businesses have made to accommodate the increase in...
Amid COVID-19, Cyber Criminals Push Phishing, Ransomware Scams
Jun 16 2020 // There was a 25% spike in ransomware attacks in the first quarter of 2020 versus the fourth quarter 2019, based on incidents reported to in-house breach response team for insurer Beazley’s Breach Response (BBR)...
How Construction Companies Can Make the Most of Technology Advancements
Jun 15 2020 // As one of the oldest industries, construction has been notoriously slow to adopt technological advancements and embrace the digital age. However, in the last decade, many innovative technologies have gained traction in the...
Alabama City to Pay $300K in Bitcoin Ransom in Computer System Hack
Jun 12 2020 // A city in northern Alabama will pay a ransom worth $300,000 in Bitcoins in response to a hack of its computer system. Florence City Council voted unanimously at an emergency meeting Wednesday evening to make the payment...
Edge Computing, Supply Chains, Deepfakes Among 2020’s Top Emerging Risks: Swiss Re
Jun 12 2020 // Pandemic threats were once on the list of potential emerging risks facing the insurance industry and society. Now that this risk has materialized with the COVID-19 crisis, it is perhaps a good time to take a look at the...
New Insurer Astaara Focuses on Protecting Maritime Industry from Cyber Risks
Jun 12 2020 // A new insurance services business, called Astaara Company Ltd. (ACL), has been launched to protect maritime companies from cyber threats Offering risk management, underwriting and analytics, London-based Astaara will work...
