Category Archives: cyber insurance

How will the Merck settlement affect the insurance industry?

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A major shift in how cyber insurance works started with an attack on the pharmaceutical giant Merck. Or did it start somewhere else? In June 2017, the NotPetya incident hit some 40,000 Merck computers, destroying data and forcing a months-long recovery process. The attack affected thousands of multinational companies, including Mondelēz and Maersk. In total, […]

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AI outsourcing: A strategic guide to managing third-party risks

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In an era of artificial intelligence (AI) revolutionizing business practices, many companies are turning to third-party AI services for a competitive edge. However, this approach comes with its own set of risks. From data security concerns to operation… Continue reading AI outsourcing: A strategic guide to managing third-party risks→

What makes ransomware victims less likely to pay up?

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There’s a good reason why ransomware gangs started exfiltrating victims’ data instead of just encrypting it: those organizations pay more. University of Twente researcher Tom Meurs and his colleagues wanted to know which factors influence v… Continue reading What makes ransomware victims less likely to pay up?→

Ransomware negotiation: When cybersecurity meets crisis management

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In this Help Net Security interview, Tim Morris, Chief Security Advisor at Tanium, discusses ransomware negotiation, how it typically unfolds, and how organizations should have a playbook that clearly outlines what to do, when to do it, who is notified… Continue reading Ransomware negotiation: When cybersecurity meets crisis management→

CISO Conversations: Jason Rebholz and Jason Ozin From the Insurance Sector

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SecurityWeek interviews two CISOs from the insurance sector: Jason Rebholz at Corvus Insurance and Jason Ozin at UK-based PIB Group.
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Merck Settles NotPetya Insurance Claim, Leaving Cyberwar Definition Unresolved

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In a landmark case that blurs the lines between cyber and kinetic warfare, Merck reached a settlement with insurers over a $1.4 billion claim stemming from the NotPetya malware attack.
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Cyber insurance predictions for 2024

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In this Help Net Security video, Dara Gibson, Senior Cyber Insurance Manager at Optiv, discusses cyber insurance and what we should expect to see in 2024: Ransomware, BEC, and pixel privacy claims will remain at the forefront of cyber insurance claims … Continue reading Cyber insurance predictions for 2024→

Companies scramble to integrate immediate recovery into ransomware plans

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More than one-third of companies still do not have a well-rounded, holistic ransomware strategy in place, according to Zerto. Immediate recovery crucial for businesses’ survival The survey also found that companies are reevaluating their data pro… Continue reading Companies scramble to integrate immediate recovery into ransomware plans→