ransomware News

Report: While Hackers Eye Small Businesses, Ransomware Attacks Decline

A new cyber trends mid-year report released by cyber insurer Coalition suggests that while small businesses continue to be targeted, overall incidents are down and ransomware attacks are declining as demands go unpaid. During the first half of 2022, the …

Viewpoint: Calculating Business Interruption Costs in Cyber Claims

While cyber was incorporated in some general liability policies (GL) of the 1980s, the first cyber standalone policy was written in 1997 through American International Group. Though groundbreaking, as it was the first to address cybersecurity, it was a third-party …

Viewpoint: Recognize and Plan for Health Care Cybersecurity Risks

It’s no secret that the health care industry is a prime target for cybercriminals. Despite efforts to combat ransomware, legal experts have seen a 66% increase in ransomware claims compared to the average over the past four underwriting years[1]. And …

US Disrupts North Korean Hackers that Targeted Hospitals

NEW YORK (AP) — The FBI and Justice Department recently disrupted the activities of a hacking group that was sponsored by the North Korean government and that targeted U.S. hospitals with ransomware, ultimately recovering half a million dollars in ransom …

Tractor Maker Hit by Ransomware Attack During Planting Season

U.S. agricultural equipment maker AGCO Corp. said on Friday a ransomware attack was affecting operations at some of its production facilities, and dealers said tractor sales had been stalled during the crucial planting season. Georgia-based AGCO said in a statement …

Russian Agents Charged With Targeting US Nuclear Plant, Saudi Oil Refinery

WASHINGTON —U.S. and British officials on Thursday accused the Russian government of running a years-long campaign to hack into critical infrastructure, including an American nuclear plant and a Saudi oil refinery. The announcement was paired with the unsealing of criminal …

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, …

Hacked US Companies to Face New Reporting Requirements

WASHINGTON (AP) — Companies critical to U.S. national interests will now have to report when they’re hacked or they pay ransomware, according to new rules approved by Congress. The rules are part of a broader effort by the Biden administration …

Toyota Restarting Japan Plants After Malware Hits Supplier

TOKYO (AP) — Toyota plans to resume production at all of its 14 plants as of Wednesday, after they were idled for a day due to a cyberattack on a domestic supplier. The supplier, Kojima Industries Corp., said Tuesday it …

Russian Ransomware Attacks on Ukraine Muted By Leaks, Insurance Woes

LONDON/WASHINGTON —Warnings that pro-Russian ransomware gangs would snarl networks in Ukraine and its allies have so far failed to materialize amid disarray among the criminal underworld often behind such attacks and fears insurers would not pay out. Conti, one of …