Those consequential losses that cyber attacks create. Is this an example of the cyber loss gap. If delayed cargo costs, related to a cyber attack, are not covered by insurance. Who picks up the consequential lossess following an attack. The…
As discussed previously, those defense contractors effected by DFARS 7012 from December 2017 and effected by the SEC final cyber rule. (Including subcontractors). May consider the recent SEC charges against SolarWinds. The DoD required contractor to submit their NIST 171…
As we discussed when the SEC final rule was made public, covered entities will not be in control of all communications to the markets. Hacked companies could find that control over cyber incident communications that face the outside world, are…
As with other partner nations UK Critical National Infrastructure is at risk from cyber attack. Recent events in Australia and those published in Denmark highlight the issues and challenges ahead for CNI providers in providing cybersecurity risk management. Olaf Classen…
One I missed, how could I. ICBC ‘may’ have paid the ransom to get the keys for the code. Raising So many questions about the attack, its scale, impact on the bank and effects on the U.S Treasury markets? To…
Well worth a read. The Australian Governments Signals Directorate threat report 2023 is a timely reminder of the challenges that are being faced by the country and remedial actions taken in 2023 to recommend, regulate and protect Australia’s infrastructure. In…
The MGM and Casers hacks was well publicised over the summer, causing $100million to MGM, a $15 million ransomware payment by Caesars and regulatory reporting. However could the hackers be more home grown than international, as the hackers were ‘known’…
For the Securities and Exchange Commission(SEC) 2023 has been a busy year, pushing through controversial legislation least of all for cybersecurity. It has also been a profitable year as the SEC enforcement division. The SEC obtained orders for nearly $5…
Thank you for posting Ted Dziekanowski. A demonstration of the challenges that CNI providers face in securing their infrastructure. Exploiting vulnerabilities in Zyxel firewalls on the 11th May and successfully secured on the same day. Followed up by a second…
Cyber reinsurance market is still attractive despite ransomware attacks up 176% in Q2 2023 over the same period in 2022. While attack frequency has increased claims frequency has not. Are we seeing more self-insurance? Pricing in 2023 was 2.5x times…
