Recently, the Cyber Insurer Coalition published a joint report with federal organizations showing that cyber-attacks have increased dramatically during the first half of 2021. The investigation analyzed 50,000 claims from policy holders in the United States and Canada in their words, the H-1 2021 Cyber Insurance claims report shows that “cyber-attacks involving ransomware increased 50% from January to July compared with the same time period of 2020. At the same time, theRead more
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At the end of May, Washington DC’s police department experienced a ransomware attack that ended up with confidential documents on the Dark Web. The Babuk group adjudicated the attack and threaten to publish police department’s data, including HR. According to Edition CNN News , the attackers posted a ransom note claiming they had stolen more than 250 GB of data and threateningRead more
Being informed on cyber security is a subject all companies should be ready to address. It is an important matter that focuses on protecting your companies’ digital assets. Cybercrime is on the rise and industry regulatory organizations are setting up bigger fines for violations of privacy, unsafe data sharing, and data storage solutions that feel like a liability. A single incident could cost millions of dollars. For many small- to medium-sized business owners, that means it could end your business. Read more
After the COVID-19 pandemic and the subsequent move from offices to virtual work environments, employers have started paying serious attention to cyber security. According to the Report “Cost of a Data Breach” from IBM, during 2020 the average cost of a data breach was 3.86 million dollars. More specifically, in the health care industry theRead more
Prevention is Key When you purchase a cyber policy, you should maintain appropriate security measures to prevent a cyber incident from happening in the first place, as discussed in parts one and part two of this series. In this case the focus will be in actions you can take to reduce cyber risks. Imagine an employee accidentally opens a link in an email. This link turned out to be attachedRead more
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