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Insured companies more likely to be ransomware victims, sometimes more than once

A recent report found that companies with cyber insurance have been hit by ransomware more than those without it, and sometimes more than once. Although threat actors may not be directly correlating the insurance factor to find targets, one of the reasons for this may be that as insurers require more from companies those able to pay for insurance are also likely to be able to afford bigger ransoms. ....

Chris Hendricks , Forrester Valente , Vanson Bourne , Jason Rebholz , Fleming Shi , Barracuda Networks , Corvus Insurance , Alla Valente ,

Cyber Insurance Costs Lead to Scrutiny of Business Partners

Premiums have risen as the number of cyberattacks have increased, leading insurers to eye corporate supply chains. ....

Isabelle Dumont , Jason Rebholz , Jerry Caponera , Check Point , Addressing Security , Corvus Insurance ,

Ransomware revenue drops 40.3% in 2022 as victims show less interest in paying up

According to a Chainalysis report released Thursday, total funds sent to known ransomware addresses globally fell from $765.5 million in 2021 to $456.8 million in 2022, with evidence suggesting that this huge drop is due to an increasing unwillingness on the part of victims to pay ransom demands rather than a decline in the actual number of attacks.   ....

Jason Rebholz , Allan Liska , European Union , Us Treasury Department , Security Of Network , Information Systems , Dareen Guccione , Recorded Future , Corvus Insurance ,

Fraudulent Funds Transfer, Ransomware Are Main Drivers of Cyber Loss: Corvus

According to new data from Corvus Insurance, fraudulent funds transfer (FFT) continues to generate substantial losses for organizations. FFT comprised 36% ....

Jason Rebholz , New You , Insurance Journal , Corvus Insurance , Corvu Risk Insights Index , Cyberprofit Lossfraudpersonal ,

Fraud and ransomware dominate cyber insurance claims

Ransomware accounts for 23 percent of cyber insurance claims, while while fraudulent funds transfer (FFT) accounts for 28 percent according to insurance specialist Corvus, which has released its latest Risk Insights Index. ....

Jason Rebholz , Fuzzbones Shutterstock , Brisk Insights , Risk Insights Index ,