Ransomware Evolves to Affect Severity; BI Remains ‘Complicated’

CHICAGO—There is “no honor amongst thieves” when it comes to ransomware.

During a panel on claims developments here at Advisen’s Cyber Risk Insights Conference, CNA Insurance cyber industry leader Brian Robb said ransomware attacks have evolved. At the start of the ransomware trend, organizations that paid up would receive encryption keys to get data back.

Now, said Robb, there have been situations in which the thieves only returned a partial encryption key following payment, and then asked for more cryptocurrency.

Read more at https://www.advisenltd.com/ransomware-evolves-to-affect-severity-bi-remains-complicated/

Chad Hemenway, Ransomware evolves to affect severity; BI remains ‘complicated’ (May 24, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Cyber Front Page News.

2018 Cyber Risk Insights Conference – Chicago

Advisen returns to Chicago with our Cyber Risk Insights Conference series as a full-day and a half event addressing the critical privacy, network security, and cyber insurance issues confronting risk professionals and their organizations. An expert faculty comprised of leaders in network security, regulation, law enforcement, risk management, and cyber risk insurance will offer their insights on managing risk on a rapidly evolving and increasingly dangerous threat landscape. This day of learning and networking for risk managers, CISOs, CROs, insurance brokers, underwriters, reinsurers, and other risk professionals will present a global perspective on cyber threats, but also will examine how the business and regulatory environment of the Midwest influence cyber risk management decisions.

For more info and registration about this upcoming event, visit the link below:

https://www.advisenltd.com/05/22/2018-cyber-risk-insights-conference-chicago/

With Targets on Their Backs, Healthcare CISOs Fight to Protect Data

Healthcare chief information security officers (CISOs) know their organizations offer an appealing target for cybercriminals – and they’re doing everything they can to avoid being the next victims, according to a panel speaking during Advisen’s Cyber Risk Insights Conference here.

Panelists described the many moving parts to their organizations, with hundreds of healthcare professionals requiring access to sensitive information, cross-border compliance issues, legacy IT systems and medical devices, and vast networks of third-party partners.

“It’s really hard to go to a doctor who’s an expert in his field and say he needs to get rid of his X-ray machine that runs on Windows XP or Windows 98 when he says that’s the system that gives him the image he needs to save the patient,” said Robert Hill, CISO of the Mayo Clinic.”

Read more at http://www.advisenltd.com/2017/05/17/targets-backs-healthcare-cisos-fight-protect-data/

Erin Ayers, With targets on their backs, healthcare CISOs fight to protect data (May 17, 2017), available with subscription at Advisen Professional Front Page News.

Security Expert Warns Insurers on the Realities of Cyber Risk

CHICAGO – Insurers need to understand the realities of cyber risk, why the risk has expanded so dramatically in recent years, and why no organization can ever be fully protected, according to Adam Tyler, chief innovation officer with CSID, now a part of Experian Partner Solutions, speaking during the keynote speech at Advisen’s Cyber Risk Insights Conference.

The insurance industry needs to know the “reality of the situation you’re facing,” Tyler told the audience here in Chicago. “You need to know the reality of the premiums and policies you’re writing.”

The Dark Web isn’t well understood, he explained, and news reports usually feature cyberattacks as stunningly complex.

Read more at http://www.advisenltd.com/2017/05/18/security-expert-warns-insurers-realities-cyber-risk/

Erin Ayers, Security expert warns insurers on the realities of cyber risk (May 18, 2017), available with subscription at Advisen Cyber Front Page News.

A Sobering Truth: Cyber is ‘Tool of First Resort’ in Conflict

LONDON—Get your act together, folks. Cyber is going to change the way we fight and you’d best start thinking more in those terms.

For one man, this fact was good for business. General Sir Richard Barrons, former commander of the Joint Forces Command, told a packed room at the Advisen Cyber Risk Insights Conference here on March 7 that cyber is now the “tool of first resort” in conflict.

Cyber attacks are effective, and more importantly, they are easier and cheaper to carry out in order to “bend the will of an opponent” or “just bring life to a halt,” Barrons said to the captivated audience. As examples, Barrons mentioned North Korea’s attack on Sony, Russia’s attacks on Estonia and the Ukraine power grid, and the Dyn attack by a yet unknown perpetrator. The point is to “destabilize and weaken” an enemy,” he said.

Read more at http://www.advisenltd.com/2017/03/20/sobering-truth-cyber-tool-first-resort-conflict/

Chad Hemenway, A sobering truth: Cyber is ‘tool of first resort’ in conflict (March 20, 2017), available with subscription at Advisen Cyber Front Page News.

Advisen 2017 Cyber Risk Insights Conference Chicago

Advisen again brings its acclaimed Cyber Risk Insights Conference series to Chicago with a full-day and a half event addressing the critical privacy, network security and cyber insurance issues confronting risk professionals and their organizations. An expert faculty comprised of leaders in network security, regulation, law enforcement, risk management and cyber risk insurance will offer their insights on managing risk on a rapidly evolving and increasingly dangerous threat landscape. This day of learning and networking for risk managers, CISOs, CROs, insurance brokers, underwriters, reinsurers and other risk professionals will present a global perspective on cyber threats, but also will examine how the business and regulatory environment of the Midwest influence cyber risk management decisions.

For more info and registration about this upcoming event, visit the link below:

http://www.advisenltd.com/events/conferences/05/16/2017-cyber-risk-insights-conference-chicago/

2017 Cyber Risk Insights Conference – London

Advisen again brings its acclaimed Cyber Risk Insights Conference series to Europe with a full day, multi-track event in London addressing the critical privacy, network security and cyber insurance issues confronting risk professionals and their organisations. An expert faculty comprised of leaders in network security, regulation, law enforcement, risk management and cyber risk insurance will offer their insights on managing risk on a rapidly evolving and increasingly dangerous threat landscape. This day of learning and networking for risk managers, CISOs, CROs, insurance brokers, underwriters, reinsurers and other risk professionals will present a global perspective on cyber threats, but also will examine how the European business and regulatory environment influence cyber risk management decisions.

For more info and registration about this upcoming event, visit the link below:

http://www.advisenltd.com/media/conferences/03/07/2017-cyber-risk-insights-conference-london/

Cyber Underwriters Dispel Myths About Pricing, Risk Assessment

Nick Economidis, underwriter at Beazley, wants to dispel a myth.

Speaking at Advisen’s Cyber Risk Insights Conference, he explained that underwriters are not “trying to measure individual companies’ risk and come up with a special price just for them.” He referred to models that provide an estimated cost for a risk type and size, based on average losses and probable maximum losses.

His message to the sold-out audience: “We want to kick out bad risks. We look at the general model price and adjust it based on the quality of risk.”

Read more at http://www.advisenltd.com/2016/05/23/cyber-underwriters-dispel-myths-about-pricing-risk-assessment/

Josh Bradford, Cyber underwriters dispel myths about pricing, risk assessment (May 23, 2016), available with subscription at Advisen Cyber Front Page News.