Cyber Risk News

The Really, Really Big One: The Likelihood of a 1-in-100 Year Cyber Catastrophe

More than a year into what some have called a 1-in-100 year pandemic with COVID-19, many may be wondering what other unprecedented events could be on the horizon. For the cyber community, this raises questions about the likelihood of a …

As Ransomware Criminals Get More Ruthless, Experts Call for Multi-Pronged Response

Political hand-wringing in Washington over Russia’s hacking of federal agencies and interference in U.S. politics has mostly overshadowed a worsening digital scourge with a far broader wallop: crippling and dispiriting extortionary ransomware attacks by cybercriminal mafias that mostly operate in …

Agents, Stand Together in Helping Businesses Understand Standalone Cyber Insurance

It is well known that small and medium businesses face an ever-increasing risk of cyber attacks. Sixty-three percent reported they had experienced a cyber breach in the last 12 months, when Ponemon surveyed them in the fall 2019 prior to …

The Insuring Cyber Podcast Episode 9: Returning to the Early Days of Cyber Coverage

With the sophistication of cyber attacks, claims growth, and now, a global pandemic driving an increasing number of businesses toward remote work, it’s no question the cyber insurance industry has had to evolve rapidly since its onset. However, Steve Robinson, …

Ransom-Seeking Hackers Are Exploiting Flaws in Microsoft Email Software

Ransom-seeking hackers have begun taking advantage of a recently disclosed flaw in Microsoft’s widely used mail server software, the company said early Thursday – a serious escalation that could portend widespread digital disruption. The disclosure, initially made on Twitter by …

White House Warns of Hack of Microsoft’s Outlook Email Program

The White House on Sunday urged computer network operators to take further steps to gauge whether their systems were targeted amid a hack of Microsoft Corp.’s Outlook email program, saying a recent software patch still left serious vulnerabilities. “This is …

Hacks of Microsoft Outlook Email Program Continue Despite Patch

More than 20,000 U.S. organizations have been compromised through a back door installed via recently patched flaws in Microsoft Corp.’s email software, a person familiar with the U.S. government’s response said on Friday. The hacking has already reached more places …

U.S. Charges 3 North Koreans in $1.3B Hacking of Banks, Sony, Others

The United States has charged three North Korean computer programmers with a massive hacking spree aimed at stealing more than $1.3 billion in money and cryptocurrency, affecting companies from banks to Hollywood movie studios, the Department of Justice said on …

What Your Clients Need to Know About Cyber Risks

This post is part of a series sponsored by Hanover Insurance Group Inc. Most businesses recognize a cyberattack can have a potentially devastating effect on their operations. These same businesses have purchased insurance for traditional cyber risks, such as breaches …

SolarWinds Attackers Focused on Cyber and Tech Firms

Whether it was opportunity, strategy or sheer chutzpah, the suspected Russian hackers behind a massive cyber-attack revealed last month focused particular attention on technology companies, including cyber-security firms entrusted to find malicious activity in their clients’ networks. Four cyber-security companies …