cyber attacks News

Attorneys: Ransomware a Multi-Layered Risk for Policyholders

The evolution of ransomware is bringing a wider range of risks to insurance policyholders, with new government regulations, exfiltration of data and state-sponsored actors adding to the mix, attorneys with the Anderson Kill law firm said during a webinar on …

Log4j Software Flaw ‘Endemic,’ New Cyber Safety Panel Says

A computer vulnerability discovered last year in a ubiquitous piece of software is an “endemic” problem that will pose security risks for potentially a decade or more, according to a new cybersecurity panel created by President Joe Biden. The Cyber …

Cyber Insurers Face Hefty Ukraine War-Related Claims, Despite Fine Print

LONDON –– Insurers face potential multi-billion dollar claims for cyber attacks related to Russia’s invasion of Ukraine, despite policy wording designed to get them off the hook for war, industry sources say. Following the Feb. 24 attack on Ukraine and …

Viewpoint: Cyberattacks Present Unique Challenges for Business Interruption Claims

Introduction As businesses continue to rely on computers and digital storage of important data, cyberattacks are a growing potential threat to these organizations—especially now, as businesses have transitioned their workforces to work remotely. There are many types of cyber threats, …

Beefing Up its Cybersecurity, Google Buys Mandiant for $5.4B

SILVER SPRING, Md. (AP) — Google is fortifying its cloud services with a $5.4 billion acquisition of the cyber security firm Mandiant, the companies announced Tuesday. The acquisition is the first of many that analysts foresee in the cyber security …

Cyberattacks Accompany Russian Military Assault on Ukraine

BOSTON (AP) –The websites of Ukraine’s defense, foreign and interior ministries were unreachable or painfully slow to load Thursday morning after a punishing wave of distributed-denial-of-service attacks as Russia struck at its neighbor, explosions shaking the capital of Kyiv and …

US Unveils Plan to Improve Cyber Defenses For Water Utilities

WASHINGTON–The White House on Thursday unveiled a plan to beef up cybersecurity in the nation’s water sector, an extension of its efforts to thwart attacks against critical infrastructure including electricity and natural gas pipeline operators. Senior administration officials said water …

Ransomware Persists Even as High-Profile Attacks Have Slowed

WASHINGTON (AP)–In the months since President Joe Biden warned Russia’s Vladimir Putin that he needed to crack down on ransomware gangs in his country, there hasn’t been a massive attack like the one last May that resulted in gasoline shortages. …

Biden Rushes to Protect the Power Grid as Hacking Threats Grow

A White House plan to rapidly shore up the security of the U.S. power grid will begin with a 100-day sprint, but take years more to transform utilities’ ability to fight off hackers, according to details of a draft version …

Aviation Reinsurance Rates Rise by Up to 250% – Report

LONDON — Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in a report on Monday, with the market still reeling from the impact of Boeing 737 MAX crashes two …