As Cyberattacks Rise, Cyber Insurers Are Rethinking Their Business July 21, 2021 By Katherine Chiglinsky and Max Reyes The hacks came one right after another, sowing chaos at hospitals, idling America’s biggest gasoline pipeline, crippling a huge meat...
Biden Administration Plans More Ransom Payment Tracing in Fight Against Attacks July 16, 2021 By Jennifer Jacobs and Billy House The Biden administration intends to crack down on the use of cryptocurrencies in ransomware attacks through more rigorous tracing of...
Ransomware Gang REvil’s Websites Vanish; Reason Unknown July 14, 2021 By Raphael Satter Websites run by the ransomware gang REvil suddenly became unreachable on Tuesday, sparking widespread speculation that the group had been...
Does It Ever Make Sense for Firms to Pay Ransomware Criminals? July 8, 2021 By Chris Beck and Blake Fleisher The global insurance company AXA announced in May it will stop writing cyber insurance coverage in France that reimburses customers...
Update: Ransomware Attack on Kaseya Affects Up to 1,500 Firms; Hackers Ask $70M July 5, 2021 By Raphael Satter Between 800 and 1,500 businesses around the world have been affected by a ransomware attack centered on U.S. information technology...
P/C Insurers Defend Ransomware Reimbursements in New Cyber Principles July 2, 2021 By Andrew G. Simpson The nation’s largest property/casualty insurance organization is defending ransom payment reimbursements by insurers in a new set of principles stressing...
Insurers’ Own Infrastructure Could Be Next Targets of Cyber Criminals July 2, 2021 By Mark Hollmer As “the next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert....
New York Regulator Issues New Guidance on Growing Ransomware Threat July 2, 2021 The New York State Department of Financial Services (DFS) has issued new guidance on preventing ransomware attacks. In the guidance,...
Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re July 1, 2021 Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said...
U.S. Goes on Offense to Fight Growing Threat of Cyber Attacks June 30, 2021 By Kartikay Mehrotra and Alyza Sebenius For the last several years, FBI agents debated turning the tables on hackers by remotely accessing breached computer networks and...