Beach umbrella chains on Sand Paradise Beach at Nassau, West Indies. (Photo by A. T. Palmer/ClassicStock/Getty Images) Cyber insurance market encounters ‘crisis moment’ as ransomware costs pile up The woes within the industry could mean significant ramifications for policyholders. Aug 23, 2021 By Tim Starks
President of Japan’s insurer Tokio Marine Holdings, Tsuyoshi Nagano, speaks to the media in 2015. ( JIJI PRESS/AFP via Getty Images) Japan’s Tokio Marine is the latest insurer to be victimized by ransomware It's the third to announce a successful attack since March. Aug 17, 2021 By Tim Starks
(Getty Images) Burgeoning ransomware gang Avaddon appears to shut down, mysteriously The group had become increasingly prolific, but there were no clear answers for why Avaddon disappeared. Jun 11, 2021 By Tim Starks
A plume of smoke rises from the Ranch 2 Fire on August 15, 2020 in Azusa, California. The fire blackened at least 2,500 acres in the Angeles National Forest near Los Angeles but burned away from homes causing evacuation orders to be lifted on August 14. (Photo by Mario Tama/Getty Images) Insurer paid $65,000 to help a city unlock ransomware in 2018. A second hack was more expensive. The city of Azusa didn't disclose a payment in one incident, insurance paid up and now it's a victim again. Jun 7, 2021 By Tim Starks
PARIS, FRANCE – MAY 22: The logo of the multinational insurance firm AXA office, at Matignon street, on May 22, 2020 in Paris, France. (Photo by Edward Berthelot/Getty Images) Ransomware strikes AXA shortly after insurer announces it will stop covering extortion fees AXA joins CNA Insurance as a recent ransomware attack victim in the insurance industry. May 17, 2021 By Tim Starks
(Photo by MARTIN BUREAU/AFP via Getty Images) Experts suggest French insurer AXA’s plan to shun ransomware payouts will set a precedent AXA's decision was surprising only in how long it took to become an apparent industry first. May 10, 2021 By Tim Starks
smartest approach for everyone, they say, is to prevent breaches from happening in the first place. (Getty Images) Why are cyber insurers incentivizing clients to invest in specific vendors? Insurers are exploring cybersecurity as an area with growth potential. Oct 11, 2019 By Jeff Stone