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Keyword
ransomware

News Markets / CoveragesTechnology

What you need to know about the evolution of ransomware

April 14, 2018 by Jason Contant

Brokers need to stay on top of constantly emerging cyber threats, as cybercriminals continue to adapt their techniques, particularly around ransomware. Criminals are still very successful, says Matt Hartley, vice president of global services and intelligent engineering with cybersecurity company

News InsuranceMarkets / CoveragesTechnology

Cybercriminals are infiltrating software vendors, launching supply chain attacks

April 11, 2018 by Jason Contant

Cybercriminals are moving into the terrain of supply chain attacks, masquerading as signed apps, and using ransomware as a distraction to steal money from the network. Each of these are “interesting new areas” that cybercriminals may exploit in the future,

News ClaimsInsuranceMarkets / CoveragesTechnology

For how long will a ransomware attack knock out your client’s operations?

March 5, 2018 by Jason Contant

Companies in Canada and the United States can expect one week of downtime as a result of a ransomware attack, speakers said at NetDiligence’s recent Cyber Risk Summit in Toronto. “A decryption effort, even in the best case scenario, is

News ClaimsLegalTechnology

One easy way to reduce ransomware risk

March 2, 2018 Greg Meckbach, Associate Editor

Risk managers who teach employees what suspicious email looks like can drastically reduce the risk of being hit with ransomware, a commercial insurer executive said Wednesday. Ransomware is when criminals hack into computer systems, encrypt files and demand a ransom

News InsuranceMarkets / CoveragesTechnology

Why cybercriminals are stepping up attacks against your small business clients

January 18, 2018 by Jason Contant

The operating model for cybercrime appears to have changed, with criminals using ransomware to target smaller companies and ask for smaller currency amounts, a cyber underwriter with Beazley told Canadian Underwriter on Wednesday. Jimaan Sané said cybercriminals used to attack

News Technology

Employees, employers faced with increasingly sophisticated ransomware attacks often opt to pay

November 2, 2017 by Canadian Underwriter

The current approach to ransomware education is not sticking, with employees and employees alike opting to pay ransoms in record numbers because they do not have a firm grasp of what should be done when attacked, notes new research out

News ClaimsInsuranceMarkets / CoveragesTechnology

Cyber attacks among polled U.S. business costing at least US$5,000

October 2, 2017 by Canadian Underwriter

Seven in 10 of the surveyed U.S. businesses that experienced a cyber attack in the last year spent in excess of US$5,000 to investigate each incident, restore or replace software and hardware, and address any other consequences. However, 38% of

News Insurance

Cybercriminals will shift focus from data to threatening human life, cybersecurity expert predicts

September 13, 2017 Jason Contant, Online Editor

Cybercriminals will navigate away from their focus on data and start to target or threaten human life in the near future, cybersecurity expert Kevvie Fowler suggested in an interview with Canadian Underwriter. “Moving forward the next five or ten years,

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Security software, data back-up most important elements of U.S. cybersecurity policies: Clutch survey

September 7, 2017 by Canadian Underwriter

Almost all polled large employers in the United States have a cybersecurity policy in place, with required security software and how to back up data being the most important elements of the policy, a recent study from research company Clutch

Feature ClaimsLegal

Held to Ransom

September 1, 2017 Graeme Newman, Chief Innovation Officer, CFC Underwriting

Ransomware is not new, but attacks are transforming in step with changing motivations. Businesses are advised to have in place precautions to thwart attacks when possible, complemented by cyber insurance should attackers manage to break through.

News ConstructionEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Cyber market ‘softer than ever,’ commercial property, general liability rates down in U.S. in Q2: CIAB

August 23, 2017 by Canadian Underwriter

Responses from brokers surveyed indicate commercial property insurance rates in the United States dropped an average of 3.6% during the three months ending June 30, with average premium pricing down 1.44% in cyber, in a market that is “softer than

News InsuranceMarkets / CoveragesTechnology

Ransomware attacks continue to rise, but accidental data breaches remain a major cause of loss: Beazley

August 1, 2017 by Canadian Underwriter

Ransomware attacks continued their rise in the first half of 2017, up by 50% over the first half of 2016, but accidental breaches continue to be a major problem and account for 30% of breaches overall, specialist insurer Beazley reported