Data Breach Today

FEBRUARY 22, 2023

Hackers Demand Info on Victim's Cyber Insurance Policy to Negotiate Ransom Demand The newly relaunched HardBit 2.0 ransomware group is now demanding victims disclose details of their cyber insurance coverage before negotiating a ransom demand.

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Insurance Ransomware 267

Data Breach Today

MARCH 10, 2024

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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Insurance Ransomware Government IT 289

Data Breach Today

OCTOBER 17, 2022

Apparent Spate of Australian Data Breaches Continues Australian health insurer Medibank told investors it stopped a probable ransomware attack before the attack could steal data or maliciously encrypt its systems.

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Insurance Ransomware Data breaches Encryption 246

Data Breach Today

DECEMBER 8, 2020

Expect to See Extortion and Social Engineering Attacks Excluded From More Policies Are insurers getting cold feet over covering losses to ransomware?

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Insurance Ransomware IT 240

Data Breach Today

JANUARY 27, 2021

Banning Ransom Payments and Unleashing Offensive Hacking Teams Being Mooted With ransomware continuing to fuel a massive surge in illicit profits, some experts have been calling on governments to launch offensive hacking teams to target cybercrime cartels.

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Government Ransomware Insurance 356

Data Breach Today

SEPTEMBER 7, 2023

Also, Google Fitbit Faces Privacy Complaints From Schrems This week, the Swedish DPA fined an insurer $3 million for violating GDPR, a DDoS attack disrupted a German financial agency website, Google Fitbit faced privacy complaints from Schrems, Ragnar Locker published hacked hospital data, and Seville, Spain dealt with the aftermath of a ransomware (..)

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Insurance GDPR Privacy Ransomware 311

Krebs on Security

OCTOBER 1, 2020

Companies victimized by ransomware and firms that facilitate negotiations with ransomware extortionists could face steep fines from the U.S. While it may seem unlikely that companies victimized by ransomware might somehow be able to know whether their extortionists are currently being sanctioned by the U.S. Image: Shutterstock.

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Ransomware Insurance Risk Government 363

Data Breach Today

JANUARY 29, 2024

California Firm Said August Attack Affected Clients' Data A California insurance broker that handles employee benefits, workers' compensation and property liability is notifying more than 1.5

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Insurance Ransomware Security 263

Data Breach Today

MAY 24, 2021

GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office.

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Insurance Education Ransomware Marketing 281

Krebs on Security

AUGUST 14, 2020

NASDAQ:RCM ], one of the nation’s largest medical debt collection companies, has been hit in a ransomware attack. R1 RCM acknowledged taking down its systems in response to a ransomware attack, but otherwise declined to comment for this story. R1 RCM Inc. Formerly known as Accretive Health Inc. billion in 2019.

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Ransomware Insurance Phishing IT 363

Data Breach Today

JULY 2, 2024

Insurance Giant Says Hackers Stole Data of 2.5 Million Individuals A February ransomware attack against Prudential Financial affected 2.5 million customers, the financial giant disclosed after initially calculating the totally as 36,000. In an emailed statement, Prudential said the tally shouldn't increase a second time.

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Data Breach Today

APRIL 21, 2022

Lynn Peachey, the director of business development at Arete Incident Response, says that insurance companies have made "a pretty quick turnaround in terms of trying to respond to the ransomware epidemic." She discusses the changes they are making, which include leveraging data quantification.

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Data Breach Today

NOVEMBER 8, 2022

A Ransomware Group Has Given Medibank 24 Hours to Pay. Who is attempting to extort Australian health insurer Medibank, why did Medibank tell its attackers it wouldn't pay a ransom and will this deter future cyber extortionists? But Medibank Says it Won't. Here are a few thoughts on the high cybercrime drama playing out.

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Insurance Ransomware IT 261

Data Breach Today

JULY 31, 2023

RUSI Study Finds 'No Smoking Gun' Suggesting Insureds Pay Extortion More Readily Fears that cyber insurance coverage drives companies into paying ransomware demands more easily than not appear unfounded, concludes a British think tank study that also suggests insurers should do more to enact corporate discipline.

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Krebs on Security

MARCH 2, 2021

PrismHR , a company that sells technology used by other firms to help more than 80,000 small businesses manage payroll, benefits, and human resources, has suffered what appears to be an ongoing ransomware attack that is disrupting many of its services. Hopkinton, Mass.-based PrismHR has not yet responded to requests for comment.

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Data Breach Today

MARCH 2, 2021

Universal Health Services' Financial Statement Spells Out the Effects In an eye-opening look at the cost burden of a ransomware attack, Universal Health Services reports that an incident last September had a $67 million economic impact - citing, for example, the need to divert patients to competing facilities for urgent care.

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Data Breach Today

AUGUST 11, 2022

Kelly Butler Says Underwriting Requirements Are Becoming More Strict Cyber insurance can defray costs associated with data breaches and ransomware attacks.

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Krebs on Security

MARCH 5, 2024

healthcare giant Change Healthcare has made a $22 million extortion payment to the infamous BlackCat ransomware group (a.k.a. BlackCat is known as a “ransomware-as-service” collective, meaning they rely on freelancers or affiliates to infect new networks with their ransomware. There are indications that U.S.

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Ransomware Insurance Government IT 358

Data Breach Today

SEPTEMBER 3, 2019

Security Experts Express Skepticism That Criminals Would Bother Do criminal organizations prefer to target organizations that hold cyber insurance policies? A ProPublica report suggests that because cyber insurance policyholders are more likely to pay ransoms, they're a more frequent target.

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Insurance Ransomware Cybersecurity Security 212

Data Breach Today

AUGUST 27, 2019

Ken Suh of Beazley on Assessing the Options In light of emerging cyberthreats, including ransomware, organizations must change how they assess their cyber insurance options, says Ken Suh of Beazley.

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Insurance Ransomware 222

Data Breach Today

JANUARY 31, 2020

Coverage Required Because Attack Caused 'Physical Loss or Damage' A federal judge has ruled that an insurer providing a "business owner's insurance policy" to a company that sustained a ransomware attack and was forced to replace most of its IT infrastructure must pay for the damages the security incident caused.

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Insurance Ransomware Security IT 162

Data Breach Today

JUNE 26, 2019

After Struggling With Recovery, City Negotiates a Ransom Payment A second small city in Florida is paying off cybercriminals to recover from a ransomware attack that crippled the municipality's local network. How much did Lake City agree to pay, and how much of that was covered by insurance?

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Ransomware Insurance 260

Data Breach Today

NOVEMBER 5, 2018

SamSam, Dharma, GandCrab and Global Imposter Make for Ongoing Bitcoin Paydays Criminals wielding crypto-locking ransomware - especially Dharma/CrySiS, GandCrab and Global Imposter, but also SamSam - continue to attack.

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Ransomware Insurance 245

Krebs on Security

AUGUST 29, 2019

PerCSoft , a Wisconsin-based company that manages a remote data backup service relied upon by hundreds of dental offices across the country, is struggling to restore access to client systems after falling victim to a ransomware attack. The ransomware attack hit PerCSoft on the morning of Monday, Aug. West Allis, Wis.-based

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Ransomware Insurance Encryption Cloud 231

Data Breach Today

MAY 14, 2024

Firms Back New Guidance for Victims From UK's National Cyber Security Centre A coalition of cyber insurance associations has pledged to back fresh government cybersecurity guidance designed to help victims avoid ever paying a ransom, as part of an ongoing push to reduce ransomware's profitability for criminals in part by improving organizations' resilience (..)

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Data Breach Today

NOVEMBER 10, 2022

Also: Ransomware Gang Leaks Negotiation Chat With Technical Detail About Attack The stark consequences of ransomware became painfully clear in Australia this week as attackers began releasing data from health insurer Medibank. Also, leaked chat logs reveal how the attackers accessed Medibank's systems.

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Krebs on Security

DECEMBER 13, 2021

The consulting firm PricewaterhouseCoopers recently published lessons learned from the disruptive and costly ransomware attack in May 2021 on Ireland’s public health system. The unusually candid post-mortem found that nearly two months elapsed between the initial intrusion and the launching of the ransomware.

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Schneier on Security

JULY 1, 2021

As ransomware becomes more common, I’m seeing more discussions about the ethics of paying the ransom. Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. However, the most pressing challenge currently facing the industry is ransomware.

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Insurance Ransomware Paper Marketing 118

The Last Watchdog

JANUARY 20, 2020

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

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Security Affairs

JULY 9, 2021

Insurance giant CNA notifies customers of a data breach after the Phoenix CryptoLocker ransomware attack suffered in March. US insurance giant CNA is notifying customers of a data breach after the ransomware attack that it suffered in March. SecurityAffairs – hacking, ransomware). Pierluigi Paganini.

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Data breaches Insurance Ransomware Encryption 145

Data Breach Today

OCTOBER 19, 2022

Australian Insurance Firm 'Working Urgently' to Verify Theft Claim Australian health insurer Medibank says it received a ransomware demand from hackers asserting to have stolen data during a cybersecurity incident the company detected on Oct.

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Insurance Ransomware Cybersecurity IT 319

Security Affairs

SEPTEMBER 29, 2020

Gallagher (AJG) insurance giant disclosed a ransomware attack, the security breach took place on Saturday. Gallagher (AJG) global insurance brokerage firm confirmed that it was his with a ransomware attack on Saturday, September 26. US-based Arthur J. The company is currently ranked 429 on the Fortune 500 list.

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Insurance Ransomware Data breaches Cybersecurity 145

Krebs on Security

DECEMBER 7, 2019

A Colorado company that specializes in providing IT services to dental offices suffered a ransomware attack this week that is disrupting operations for more than 100 dentistry practices, KrebsOnSecurity has learned. When asked about reports of a ransomware attack on his company, Miner simply said it was not a good time and hung up.

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Ransomware IT Insurance Encryption 237

Data Breach Today

APRIL 4, 2024

Also: Insurer Predicts Ransomware for Cars, Offers to Cover Towing Costs This week, Omni, OWASP and MarineMax suffered cyber incidents, Ivanti disclosed flaws, Cisco gave tips to stop password-spraying attacks, a court upheld an FCC ban, India rescued citizens in Cambodia, Americans lost $1.1

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Insurance Passwords Ransomware 283

Data Breach Today

DECEMBER 1, 2022

Australian Information Commissioner Will Investigate Insurer's Security Practices The Russia-based ransomware gang behind the hack of Australia's largest private health insurer says it posted a full set of stolen data.

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Insurance Ransomware Security IT 290

Data Breach Today

NOVEMBER 3, 2020

Impacted Clients, Lawsuits Pile Up; SEC Filing Provides Incident Details Despite the soaring list of customers reporting data breaches tied to the May ransomware attack on Blackbaud - and numerous legal actions filed against the company - the fundraising software vendor recently told Wall Street that it expects cyber insurance to cover the bulk of (..)

Insurance 179

Insurance Data breaches Ransomware IT 179

Data Breach Today

FEBRUARY 21, 2024

3 Suspects Charged With Using Sugar Ransomware, Phishing Attacks Against Russians Russian authorities have reportedly arrested three accused members of the SugarLocker ransomware-as-a-service operation. Their alleged crime?

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Insurance Ransomware Phishing 276