Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Billion Dollar Loss Scenarios Point to Need to Better Understand Cyber Events
Sep 9 2019 // As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the...
Ransomware Attack Locks Out New Bedford City Data
Sep 9 2019 // A Massachusetts mayor says hackers demanded $5.3 million from his city in a ransomware attack this summer. New Bedford Mayor Jon Mitchell disclosed Wednesday that a variant of the Ryuk virus blocked access to information...
Cyber Coverage Confusion
Sep 5 2019 // I had the opportunity recently to read two cyber liability policies and they honestly made my head spin a little. There were coverages that I hadn’t thought about and restrictions that didn’t make sense (at...
Putting Municipal Ransomware Attacks— and Cyber Insurance —in Context
Sep 3 2019 // The ransomware attacks on public entities in Texas, Florida, Maryland, Georgia and elsewhere this year have raised questions not only about paying ransoms but also about the role of insurance in helping these targets get...
Biometrics and Financial Firms, Ransomware Variant Among Latest Cyber Trends: Chubb
Aug 28 2019 // State biometrics laws, a new ransomware threat and the targeting of financial institutions are among the recent trends in cyber risks, according to insurer Chubb in a new report. The insurer cites a recent surge in...
China Tops List of U.S. Cybersecurity Agency’s Top Risks
Aug 23 2019 // A newly created U.S. cybersecurity agency said Thursday that China represents the greatest strategic risk to the U.S., and as a result, the agency’s top operational priority is reducing the risks from Chinese...
Ransomware Attack Strikes 20 Texas Local Governments
Aug 22 2019 // More than 20 local governments in Texas were targeted in a coordinated ransomware attack of unprecedented size. The Texas Department of Information Resources said in a statement that it believes a single source is behind...
California Leads Nation in SMB Cyber Insurance Adoption, Report Shows
Aug 19 2019 // California leads the nation in small to mid-size business cyber insurance adoption, according to a report released in early August by CyberPolicy. The report shows the highest annual premium in the state totaled more than...
Work-From-Home Can Deliver Big Cyber Risks for Small Businesses
Aug 19 2019 // Remote employees place businesses at risk, yet many small business owners are not properly mitigating potential cyberthreats, nor are they adequately protecting their employee platforms, a new report says. As work-life and...
Legislation Highlights Why Cyber Market Should Keep Watch on Small Business Risk
Aug 19 2019 // The 2018 Verizon Data Breach Investigations Report cited that 58% of cyberattack victims were small businesses, and the 2019 Symantec Internet Threat Report™ stated that employees working at small businesses were...
How Intellectual Property Compares with Cyber
Aug 19 2019 // Intellectual property (IP) is an area of risk that is underinsured and one that presents interesting opportunities for agents and brokers, according to Erik Alsegard, Intellectual Property practice leader for CFC...
Prosecutors Allege Capital One Suspect Hacked 30 Other Companies
Aug 16 2019 // The Seattle woman accused of hacking into Capital One Financial Corp.’s cloud and stealing personal information on more than 100 million Americans also broke into servers of more than 30 other companies, the U.S....
Hacker Attack Causes European Central Bank to Shut Down a Website
Aug 15 2019 // The European Central Bank (ECB) shut down one of its websites on Thursday after it was hacked and infected with malicious software. The ECB said no market-sensitive data had been compromised during the attack on its...
Canada’s Desjardins Reports Costs of $53M Related to Data Breach
Aug 13 2019 // Canadian lender Desjardins Group said on Monday it spent C$70 million ($53 million) in the second quarter related to a data privacy breach earlier this year that exposed personal information of 2.9 million members. The...
Paychex Now Offering Cyber Liability Insurance to Payroll Clients
Aug 13 2019 // Payroll management firm Paychex is now making cyber liability insurance available to its clients through Paychex Insurance Agency and AXIS Insurance Co. The policy helps business owners mitigate the potential financial...
Car Makers Befriend Hackers to Learn About Cyber Vulnerabilities
Aug 13 2019 // At a conference where hackers can try their hand at picking locks and discover cyber vulnerabilities in a makeshift hospital, they can also endeavor to break into the control units of cars and take over driving...
Chubb Launches Combined Product for Professional Service Firms
Aug 12 2019 // Chubb has introduced a new offering designed to help professional service firms mitigate a variety of exposures that can impact their businesses. The new Pro ERM offering combines miscellaneous professional liability,...
Remote Workers Can Be Big Cyber Risk for Small Businesses
Aug 9 2019 // Remote employees place businesses at risk, yet many small business owners are not properly mitigating potential cyberthreats, nor are they adequately protecting their employee platforms, a new report says. As work-life and...
As Breaches Rise, So Do Cybersecurity Pros’ Paychecks
Aug 8 2019 // It took a $650,000 salary for Matt Comyns to entice a seasoned cybersecurity expert to join one of America’s largest companies as chief information security officer in 2012. At the time, it was among the most...
Naples, Florida Loses $700K in Spear Phishing Cyberattack
Aug 8 2019 // Officials in the southwest Florida city of Naples say they lost $700,000 in a recent cyberattack. The Naples Daily News reports that the attack was a “spear phishing” effort targeting a specific person or...
