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Insurers Drop Bid to Exclude Merck's $1.4B NotPetya Claims

Data Breach Today

and several insurers that were appealing a 2023 court decision saying the insurance companies could not invoke "hostile warlike action" exclusions in refusing to pay drugmakers' claims filed after the 2017 NotPetya cyberattack. A Settlement Has Been Reached. So, How Might This Affect Similar Cases?

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UK Conservatives Say 'No' to Cyber Insurance Backstop

Data Breach Today

Committee Chairs Accuses UK of Favoring an 'Ostrich Strategy' For Ransomware The Conservative government of British Prime Minister Rishi Sunak says it won't champion a reinsurance plan for cyber insurance similar to flood insurance, telling a parliamentary committee it doesn't want to "damage competition."

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Ransomware attacks break records in 2023: the number of victims rose by 128%

Security Affairs

Ransomware groups claimed that they successfully targeted 4191 victims in 2023, Cybernews researchers report. of attacks in 2023), while summer was the most active for ransomware attacks (30.4%). The top 10 groups, based on the number of victims, collectively account for 59% of the total victims in 2023.

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Black Basta ransomware gang hit BT Group

Security Affairs

In December 2023, Elliptic and Corvus Insurance published a joint research that revealed the group accumulated at least $107 million in Bitcoin ransom payments since early 2022. reads the CSA. According to the experts, the ransomware gang has infected over 329 victims, including ABB , Capita , Dish Network , and Rheinmetall.

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U.S. Medical billing provider Medusind suffered a sata breach

Security Affairs

Medusind, a medical billing provider, disclosed a data breach that occurred in December 2023 and affected over 360,000 individuals. The company disclosed a data breach discovered on December 29, 2023, that impacted 360,934 individuals. “On December 29, 2023, Medusind discovered suspicious activity within its IT network.

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Healthcare firm WebTPA data breach impacted 2.5 million individuals

Security Affairs

According to the notice published by the company, WebTPA acts as an administrative services provider to certain benefit plans and insurance companies whose information was impacted in this incident. The investigation revealed that an unauthorized actor may have obtained personal information between April 18 and April 23, 2023.

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Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges

Security Affairs

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?

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