Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
State, Federal Regulatory Enforcement a Focus as Cyber Crime Grows
Aug 4 2021 // Powered by InsuranceJournal.tv As ransomware attacks are on the rise and cyber risks continue to mount, experts say there has been “a paradigm shift in cybersecurity enforcement.” That’s according to Matt...
Insurance Broker Gallagher Sued Over Ransomware Attack
Aug 2 2021 // Insurance and benefits broker Arthur J. Gallagher is the target of a proposed class action lawsuit over a ransomware attack it suffered in 2020. The plaintiffs allege that Gallagher failed to follow federal and state...
CNA Overcame Cyber Attack to Finish Strong in Q2
Aug 2 2021 // CNA Financial Corp. (CNA) announced second quarter 2021 net income of $368 million versus $151 million in the prior year quarter. The quarter saw improvement in the underlying combined ratio, very strong investment results...
Wisconsin Now Has a New Insurance Cybersecurity Law
Aug 2 2021 // Wisconsin’s governor signed into law legislation creating new cybersecurity requirements for protecting data collected by the insurance industry. Gov. Tony Evers signed Act 73, which is based on model legislation...
‘Real Time’ Cyber Risk Specialist At-Bay Pulls In $185M as Antidote to Insurance Spiral
Jul 30 2021 // At-Bay pulled in a whopping $185 million in new financing that the cyber insurance startup plans to use for new product development, expansion into new markets and hiring more employees. Including the new round, the...
Cyber Criminals Target Remote Workers and ‘Critical Infrastructure to Corner Stores’
Jul 30 2021 // The share of policyholders who filed a cyberattack claim jumped by 50% from the first half of 2020 compared to the first half of 2021, according to a new report by cyber insurer Coalition. An increasing number of attacks...
Chubb CEO Greenberg Stresses Need to Address Ransomware and ‘Systemic’ Cyber Risk
Jul 29 2021 // Chubb Chairman and CEO Evan Greenberg is doubling down against outlawing ransomware payments to address the the growing threat of ransomware. He appears to make an exception, however, for cryptocurrency...
‘Holy Moly!’: Inside the Fight Against a Texas Ransomware Hack
Jul 27 2021 // It was the start of a steamy Friday two Augusts ago when Jason Whisler settled in for a working breakfast at the Coffee Ranch restaurant in the Texas Panhandle city of Borger. The most pressing agenda item for city...
States Weigh Bans on Ransomware Payoffs
Jul 27 2021 // As ransomware attacks continue to wreak havoc on police departments, school districts and city and county governments, some state legislators say they’ve had enough. At least three states—New York, North Carolina...
Disruptions from Cyber Attack Force S. Africa Port Operator to Declare ‘Force Majeure’
Jul 27 2021 // Transnet SOC Ltd., South Africa’s state-owned ports and freight-rail company, declared force majeure at the country’s key container terminals after disruptions caused by a cyber attack five days ago. The...
Cyber Attack Disrupts Container Operations at Major South African Port
Jul 23 2021 // JOHANNESBURG – A cyber attack has disrupted container operations at the South African port of Cape Town, an email seen by Reuters on Thursday said. Durban, the busiest shipping terminal in sub-Saharan Africa, was also...
As Cyberattacks Rise, Cyber Insurers Are Rethinking Their Business
Jul 21 2021 // The hacks came one right after another, sowing chaos at hospitals, idling America’s biggest gasoline pipeline, crippling a huge meat supplier and devastating hundreds of companies over the July 4 weekend. Now,...
People Moves: Aon Cyber Appoints Bixby; Guy Carpenter Adds 2 from Willis Re, Zywave Names 3 Senior Leaders
Jul 20 2021 // Hacking Expert Bixby Joins Aon Cyber Solutions Aon has appointed Adam Bixby as the new managing director, Proactive Security leader, for Cyber Solutions North America. Bixby is responsible for the Proactive Security...
U.S. and Allies Accuse China of Global Cyber Espionage
Jul 20 2021 // The United States and its allies accused China on Monday of a global cyber espionage campaign, mustering an unusually broad coalition of countries to publicly call out Beijing for hacking. The United States was joined by...
S&P Warns of Cyber Risk’s Impact on Insurers’ Credit Ratings
Jul 19 2021 // Cyber risk is becoming increasingly relevant to insurer credit ratings, according to a report from S&P Global Ratings. Overall, S&P said it has noted “more credit-relevant cyber events in the last six months...
U.S. Fights Cyber Attacks by Blacklisting, Sanctioning Russian Tech Firms
Jul 19 2021 // The United States on Friday took a new stab at Russia’s cybersecurity industry, restricting trade with four information technology firms and two other entities over “aggressive and harmful” activities...
Insurers’ Own Infrastructure Could Be Next Targets of Cyber Criminals
Jul 19 2021 // As “the next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert. With “a lack of controls at [an] insurer, [you] could have...
Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re
Jul 19 2021 // Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said this month, as ransomware attacks increase in number and severity. A ransomware attack on Colonial...
Cyber Risks No Longer Science-Fiction for Libraries
Jul 19 2021 // When the pandemic forced nearly all libraries in the U.S. to close for more than half of 2020, these long-time community institutions took the opportunity to adapt all or most of their programming to a digital format and...
Tulsa, Oklahoma: Network Hack Gained Some Social Security Numbers
Jul 16 2021 // Hackers gained access to the Social Security numbers of more than two dozen people during a ransomware attack that forced the city of Tulsa to shut down parts of its computer network for months, officials said. The hackers...
