The COVID-19 pandemic brought on significant change to the cyber insurance industry that spans all disciplines. We experienced the widespread remote work environment, which introduced an onslaught of ransomware claims by threat actor groups as they recognized the opportunity to …
Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-year Update, which details emerging cyber trends and their impact on …
Cybersecurity claims reported in recent years vary sharply, with larger claims reaching $500 million of data loss and smaller claims as low $1,000. NetDilligence released its annual report, which analyzes 10,464 claims from incidents between 2019 and 2023. The report …
Ransomware groups increased their activity significantly in the second quarter, new report from a Travelers subsidiary shows. The report from Corvus Insurance details attacks against 1,248 victims, a 16% increase from the previous quarter. The company’s Q2 2024 Cyber Threat …
A survey of nearly 1,000 IT and security professionals shows numerous organizations were targeted by ransomware attacks in the past year with a high degree of success, with most paying a ransom—many of which paid multiple times. Semperis, a cyber …
Cyber risk is manageable. But only if everyone involved in managing that risk is on the same page. Typically, when new cyber threats are detected or announced, cyber insurers notify their policyholders and encourage them to swiftly remediate potential risks. …
Evolve Bank & Trust confirmed it was the victim of a cyber attack and that customer data had been posted on the dark web, less than two weeks after the Arkansas-based lender was ordered by regulators to improve its risk …
A hack on a London hospital has left hundreds of millions of health records exposed and forced doctors to reschedule life-altering cancer treatments. In North America, a gang tried auctioning off data about LendingTree Inc. customers after finding credentials in …
A cohort of Russian-speaking hackers is demanding $50 million from a UK lab-services provider to end a ransomware attack that has paralyzed services at London hospitals for weeks, according to a representative for the group. Qilin, as the group is …
Multiple companies in the U.S. and Canada experienced a record number of cyber extortion events in 2023 and unprecedented demands, a new report from Marsh shows. The report, Ransomware: A persistent challenge in cyber insurance claims, also showed an increasing …