cyber insurance

Insurance companies are insisting to pay ransom for ransomware attacks

Ransomware attacks are super- threatening to businesses these days as they can make or break a business with ease. And security researchers suggest that the only way to mitigate such cyber risks is to use backup files for disaster recovery and maintain a healthy Cybersecurity posture by using threat monitoring solutions. But nowadays, Insurance companies […]

Cyber Attack news trending now on Google

1.) Last week the media buzzed with reports that the New Jersey Borough of Palisades Park witnessed a financial drain out when $460,000 went missing from the Borough’s official bank account as a result of a fraudulent wire transfer. News is out this week that the Mariner’s Bank received $200,000 advancement for the insurance claim […]

Mondelez files $100m claim from Zurich Insurance for NotPetya Cyber Attack

Mondelez, the American Food, Confectionary, and Beverage Company has threatened Switzerland based Zurich Insurance with a lawsuit to pay the $100m penalty for refusing its claim for the damage caused by the NotPetya Cyber Attack. As insurance companies are tightening the rules related to the liability claims, this lawsuit will stand tall as a first […]

Cyber Attacks incur $100 billion losses to Financial Institutions

Cyber Attacks are bringing in $100 billion in losses to financial institutions(FIs) says a survey conducted by International Monetary Fund(IMF). This is due to the fact that FI’s play a vital role in procuring and handling funds. According to the IMF Staff Modeling Exercise report, hackers chose FI’s as easy targets due to the fact […]

Ransomware attacks surge Cyber Insurance claims in Europe

Ransomware attacks have surged cyber insurance claims in Europe says a report compiled by AIG, one of the largest cyber insurers on the globe. The data shows that the financial institution has received as many cyber claims last year as in the previous four years from companies operating in Europe, Middle East, and Africa. AIG […]

Firms in UK and US fail to financially plan for Cyber Attacks

Is your organization financially ready for cyber attacks? If it isn’t so, then it is better to be late than never. A survey conducted by Lloyds Bank has revealed that only a third of UK firms have a financial plan in place to mitigate the risks associated with cyber attacks. Rest of them are either […]

Apple, Cisco, Allianz, and Aon offer protection to companies vulnerable to Cyber Attacks!

American Technology Giants Apple, Allianz, Cisco, and Aon have launched a holistic cybersecurity solution which offers a combination of cyber insurance coverage, resilience evaluation, and secure technology to businesses vulnerable to ransomware attacks. Announcing early this week, Apple stated that its new solution will offer customers an access to response team services such as insurance […]

Fear of Cyber Attacks surges Cyber Insurance Buy!

SecureData, one of Europe’s Largest Independent Security Services Provider has discovered in a survey that the fear of cyber attacks is surging up the ‘Cyber Insurance Buy’ from business operating across the UK to cover the mounting losses. “Cyber attacks are coming thick and fast as the tools of the hackers are getting sophisticated. And […]

Companies taking Cyber Insurance are vulnerable to Ransomware Attacks!

WatchDog, a Seattle based Internet Security Solutions provider has discovered in its research that some tech-savvy cybercriminals are now interested in exploiting companies which have a cyber insurance cover. That’s because a policy cover related to cyber attack can not only offer a compensation to a ransomware incident but can also offer a full pay […]

Hackers lock law firm files for three months with ransomware

Hackers launched a cyber attack on a Providence Law firm last year locking down its database for more than three months. They also demanded $25,000 paid in the form of digital currency in exchange of data. But eventually, they failed to provide a workable key meant to decrypt files as soon as they received their […]

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