by Kelli Young | Jan 10, 2022 | Case Study, Cyber Liability Insurance
In October 2016, Dyn—a domain name system (DNS) provider for many well-known internet platforms—was targeted in a distributed denial-of-service (DDoS) attack. The Mirai DDoS Attack on Dyn was one of several major DDoS attacks in 2016 that stemmed from the Mirai...
by Kelli Young | Dec 27, 2021 | Cyber Liability Insurance
Zero Trust Security Explained Traditional cybersecurity protocols can’t keep up with the rapidly evolving modern workplace environment. The complexity of hybrid work, the rising number of fully remote employees and the dramatic increase in the use of cloud-based...
by Kelli Young | Dec 20, 2021 | Cyber Liability Insurance
Ransomware Insurance Claims Rise Ransomware represented the number one cause of loss in a study of almost 6,000 cyber insurance claims, with the average ransom rising to $247,000 and the average incident cost up to $352,000 in 2020. NetDiligence’s 11th annual cyber...
by Kelli Young | Dec 13, 2021 | Cyber Liability Insurance
Directors and officers (D&O) losses stemming from data breaches should be a top-of-mind concern for an organization’s C-suite and board. Although proving harm in these cases can be difficult, defense costs are expensive, and not all allegations are unsuccessful....
by Kelli Young | Dec 6, 2021 | Case Study, Cyber Liability Insurance
In October 2020, the University of Vermont (UVM) Health Network—a six-hospital health care organization that serves over 1 million patients throughout Vermont and upstate New York—discovered that its systems had been compromised by cybercriminals in a ransomware...
by Kelli Young | Nov 15, 2021 | Cyber Liability Insurance
Business email compromise (BEC) losses are among the most expensive types of social engineering losses, and they are on the rise—increasing 58% from 2015 to 2019, according to Advisen loss data. The median cost of a BEC loss is $764,000—significantly more expensive...
