Cyber Insurance Blog

Global supply chains have largely recovered from the shipping and stocking disruptions of the COVID-19 pandemic. But 2024 saw another threat playing havoc with these vital networks: supply chain attacks. High-profile incidents in healthcare, automobile retail, and even the cyber security industry itself cast a harsh spotlight on how vulnerable dependencies and connections between businesses are in today’s economy. …

As 2024 unfolds, the Directors and Officers (D&O) Insurance market is hitting yet another turning point. After several years of dramatic rate fluctuations, insurers, brokers, and businesses are bracing for what could be a defining year for D&O premiums. With rising litigation risks, emerging industries, and a more competitive marketplace, the question remains: Will the soft market continue, or are…

Thirty-five years ago, subscribers to a World Health Organization AIDS conference list received a floppy disk in the mail. Ostensibly a survey, the disk actually delivered the earliest documented ransomware file. The file infected the host computer’s operating system. After a certain number of boot-ups, it encrypted the file names on the machine’s hard drive. Ransomware attacks have grown exponentially…

Healthcare cyber attacks and data breaches have risen in recent years, according to The HIPAA Journal. The year 2023 set two records: the most reported healthcare data breaches (725) and the most breached records (more than 133 million). Several major breaches have made headlines. In February 2024, Change Healthcare, whose technology powers the processing of some 15 billion medical bills…

On July 19, 2024, the world got an unwanted glimpse of what might have happened had the Y2K “millennium bug” struck more than two decades earlier. A software update gone wrong caused millions of computing devices to crash. As a result, chaos plagued airlines, hospitals, banks, and retailers for days. The so-called “CrowdStrike attack” wasn’t Y2K, as IT expert Sean…

When a client experiences a data breach, the first move is obvious—find the entry point and stop the damage. But after the initial response, what’s next? Sure, you’ll need to assess the compromised data and financial losses, but to truly understand the breach and protect against future risks, data breach forensics is essential. Data breaches don’t just happen in a…