cyber insurance News
Lessons from CNA, JBS and Colonial Pipeline Ransomware Payments
In March 2021, CNA Financial Corp., one of the country's largest insurance companies, suffered a ransomware attack from a cybercriminal group called Phoenix. The attackers pressured the insurer to ...
Finland Struggling to Stop Malware Attack Spread by Text Messages
Finland is working to stop a flood of text messages of an unknown origin that are spreading malware. The messages with malicious links to malware called FluBot number in the millions, according to ...
Cyber Insurers Now Requiring Security Steps Along With Higher Premium
Insurers are continuing to take a hard line on underwriting and pricing cyber coverage. While commercial lines prices overall rose 8.9% in the third quarter, cyber premiums increased 27.6%, according ...
Resilience Cyber Raises $80M to Fund Further Expansion Into Middle Market
Resilience, which offers cyber insurance and security solutions, reported that that it closed an $80 million Series C funding round as it plans for further middle market expansion and international ...
Insurers Pull Back on Cyber Cover as Ransomware Losses Mount
LONDON – Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty payouts. ...
U.S., Israel Will Partner to Fight Ransomware Attacks
The U.S. Treasury Department said on Sunday it will partner with Israel to combat ransomware, with the two countries launching a joint task force to address cybersecurity. The task force will develop ...
Chubb Wrote the Most U.S Cyber Business in 2020; Sector Grew Nearly 30%: NAIC
The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance ...
Europol Has Arrested Five Hackers Linked to Ransomware Gang REvil Since February
Five hackers linked to ransomware group REvil and responsible for thousands of cyberattacks have been arrested since February, European Union's law enforcement agency Europol said on Monday. The ...