cyber risk management News

Cyber Insurance Specialist, CFC, Comments on Lessons of Norsk Hydro Cyber Attack

Norsk Hydro, one of the world’s largest aluminum producers, is still struggling to return to full production, after a ransomware attack shut down its operations on Monday. “We are continuing to make progress towards a resolution, but the situation remains …

Norsk Hydro Unit Begins Operating at 50% of Capacity After Cyber Attack

Norsk Hydro, one of the world’s largest aluminum producers, said a key unit is operating at only 50 percent of capacity following a cyber attack on the company this week. “Extruded Solutions is working hard to enable further restarts during …

Norsk Hydro Using Backup Servers to Restore Systems After Ransomware Attack

Norsk Hydro, one of the world’s largest aluminum producers, has made some progress restoring operations but is not yet back to normal after it was hit by a ransomware cyber attack, the company said on Wednesday. After the attack late …

Norsk Hydro Cyber Attack Exposes Risks of Global Supply Chain Disruptions

The ransomware attack crippling one of the world’s top aluminum makers is exposing how crucial sophisticated digital systems have become in the centuries-old industry of turning mined rock into metal products. Following a “severe” cyber-attack on Norsk Hydro ASA’s operations …

Ransomware Attack on Aluminium Producer Norsk Hydro Is Similar to Other Breaches

Norsk Hydro ASA confirmed that a ransomware attack was behind production outages across the aluminum producer’s operations in Europe and the U.S. The perpetrators are still unknown but the work is similar to other recent breaches. The Norwegian company, one …

Update: Cyber Attack at Aluminium Producer Norsk Hydro Causes Production Outages

Norsk Hydro ASA, one of the world’s biggest aluminum producers, suffered production outages after a cyber attack affected operations across Europe and the U.S. The company said it was still working to contain the effects of the ransomware, a kind …

Real Life Examples Show Why Businesses Must Boost Their Cyber Defenses

When cyber thieves attacked Empire Industries’ computer network, technology manager Rich Shemanskis could see files in the process of being infected by malicious software. “We were looking at the network, and I noticed it, and another guy noticed it. We’re …

U.K. Cyber-Security Startup Tessian Raises $40M to Support U.S. Expansion

Sequoia Capital has backed a London-based cyber-security startup founded by a trio of former banking analysts, who were surprised how often documents such as deal-term sheets were accidentally emailed to the wrong person. Tessian Ltd. has received $40 million to …

Financial, Reputational Costs of Cyber Attacks Can Ruin Small, Medium Firms: Chubb

The average price tag for a business to recover after a cyber attack is $400,000, which can be fatal for small-and-medium-sized enterprises (SMEs), according to a report published by Chubb. This hefty cost of repairing the business and its reputation …

‘Sextortion’ Is Emerging Cyber Risk for Businesses, Warns Beazley

A new form of online bribery is emerging where cyber criminals attempt to extort cryptocurrency by claiming to have potentially embarrassing evidence of people using adult websites on work computers, according to a report issued by Beazley Breach Response (BBR) …