Keyword
ransomware
Why cyber insurers can expect to make more (and bigger) claims payments
May 29, 2019 by Jason ContantNot only is the frequency of ransomware attacks skyrocketing, attackers are targeting larger organizations and demanding higher ransom payments. Specialist insurer Beazley released its Beazley Breach Insights report for May last week, finding that ransomware attack notifications against clients increased…
What ransomware attacks cost your clients
March 21, 2019 by Jason ContantBrokers selling cyber insurance may want to pay attention to a recent statistic: the average financial cost of downtime to a Canadian business following a ransomware attack is 7.5 times higher than the average ransom requested per incident. Canada not…
The latest way cyber-criminals are attacking your clients
February 25, 2019 by Jason ContantCyber criminals are adapting their methods by using ransomware in targeted extortions, often with more severe and costly results than indiscriminate attacks. Targeted extortion is when cyber criminals set their sights on a particular, vulnerable organization and look to extort…
How not to deal with a ransomware attack
December 19, 2018 by Greg MeckbachYour client should never have to negotiate with a cyber criminal even if that client has suffered a ransomware attack, cyber security experts advise. Ransomware is a type of computer malware that prevents clients from either using their computers or…
How ransomware can become a broker’s cyber selling point
December 18, 2018 by Jason ContantBrokers placing cyber coverage for healthcare clients may want to take note of a new survey that found for many Canadian businesses, ransomware isn’t a one-time occurrence. Of those polled that said they knew of a ransomware attack in their…
Hacked Ontario town recently purchased cyber insurance
September 14, 2018 The Canadian PressPolice in Ontario are warning municipalities about a rash of cyberattacks targeting local governments in which hackers demand a ransom in exchange for access to systems. Ontario Provincial Police did not provide firm numbers on the ransomware incidents but say…
What you need to know about the evolution of ransomware
April 14, 2018 by Jason ContantBrokers 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…
Cybercriminals are infiltrating software vendors, launching supply chain attacks
April 11, 2018 by Jason ContantCybercriminals 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,…
For how long will a ransomware attack knock out your client’s operations?
March 5, 2018 by Jason ContantCompanies 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…
One easy way to reduce ransomware risk
March 2, 2018 Greg Meckbach, Associate EditorRisk 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…
Why cybercriminals are stepping up attacks against your small business clients
January 18, 2018 by Jason ContantThe 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…
Employees, employers faced with increasingly sophisticated ransomware attacks often opt to pay
November 2, 2017 by Canadian UnderwriterThe 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…