Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even scale back on the cover they offer against cyber crimes, a report from a leading insurer showed. The total costs …
As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various methods cyber attackers are using, ransomware has continued to steal the spotlight. Ransomware is a type of malicious software that …
A late October cyber attack on the computer systems of the University of Vermont Medical Center is costing the hospital about $1.5 million a day in lost revenue and recovery costs, its CEO said. The Oct. 28 attack crippled the …
By late morning on Oct. 28, staff at the University of Vermont Medical Center noticed the hospital’s phone system wasn’t working. Then the internet went down, and the Burlington-based center’s technical infrastructure with it. Employees lost access to databases, digital …
The tenth year of the Zurich North America and Advisen Cyber Survey reveals that 78% of risk managers now purchase some level of cyber insurance — compared to only 34% in 2011. Of this record of 78% with some cyber …
Financial leaders of the world’s seven biggest economies on Tuesday vowed to fight rising ransomware attacks amid the COVID-19 pandemic, and said no stablecoin operation should start until it is properly regulated. In a joint statement, the finance officials of …
Recent warnings from the U.S. Treasury about paying ransomware demands are unlikely to substantially change how cyber insurers cover or handle such situations, according to experts. However, the advisories are likely to up the pressure on ransomware victims to make …
The U.S. Treasury Department is warning that individuals or businesses that help facilitate ransomware payments may be violating anti-money laundering and sanctions regulations. The warnings came in a pair of advisories, one from the Financial Crimes Enforcement Network (FinCEN) and …
Ciaran Martin, who stepped down as head of the UK’s National Cyber Security Centre this month, will call on Boris Johnson’s government to make it illegal for companies to pay cyber hackers a ransom. “If I had one policy card …
One the worst cyberattacks yet against Connecticut’s capital city forced officials to postpone the first day of school Tuesday, disrupting the day for thousands of families as city computer experts rushed to restore systems vital for school operations. Hartford Mayor …
