Security News
U.S. insurance giant CNA Financial reportedly paid $40 million to a ransomware gang to recover access to its systems following an attack in March, making it one the most expensive ransoms paid to date. CNA Financial's $40 million ransom only shows that 2021 continues to be a great year for ransomware, potentially emboldening cybercriminal gangs to seek bigger payouts and advance their illicit aims.
CNA Financial, the US insurance conglomerate, has apparently paid $40m to ransomware operators to gets its files back. All CNA systems are now back up and running though it appears that the company didn't manage this themselves and instead coughed up a widely reported $40m to the extortionists for the means to decrypt the scrambled files.
A Doncaster insurance company has been hit by ransomware from the Darkside crew - whose "Press release" declaring it was shutting down its operations last week was taken at face value by some pundits. The Doncaster Free Press reports that One Call Insurance, based in the northern English city, had been compromised by Darkside a week ago.
Me is one of the world's largest insurance carriers specializing in providing health insurance to students while traveling or studying abroad in another country. Me discovered suspicious activity on their website that led them to take down their website.
The murky world of ransomware criminals is all aflutter after it was revealed that Ireland's health services were hit by a second attack hot on the heels of one that took out its hospitals, while ransomware insurance refusenik Axa was itself hit with ransomware after its French branch vowed to stop buying off criminals on behalf of its customers. French-headquartered insurance company Axa suffered ransomware attacks against four of its subsidiaries in east Asia, according to the Financial Times.
Leading US-based insurance company CNA Financial has fully restored systems following a Phoenix CryptoLocker ransomware attack that disrupted its online services and business operations during late March. CNA provides a wide range of insurance products, including cyber insurance policies, and is the sixth-largest commercial insurance company in the US according to stats provided by the Insurance Information Institute.
Sontiq announced the addition of Matt Cullina in the key role of head of global insurance business. Cullina joins the company from Cyberscout, a leader of cyber products and services for the insurance market which was acquired by Sontiq earlier this year.
It's the data that is critical to insurance that is driving the push for more API usage. From a business perspective, APIs are powering omnichannel capabilities that are increasingly important to ensure policyholders, agents, brokers and partners can consume data and insights during key processes in a way that suits them best.
American auto insurance provider GEICO has disclosed a cyber-incident that resulted in driver's license numbers being compromised. A wholly owned subsidiary of Berkshire Hathaway, the Government Employees Insurance Company is the second largest car insurer in the United States, but also offers property insurance.
Since cyberinsurance is relatively new, some business owners are concerned about what's involved and if it makes sense. Adrian Mak, CEO of AdvisorSmith, a business insurance consulting firm, has pulled together a Cyberinsurance Cost report that looks at what to expect.