Largest Ransom Demand Recorded In History—The Acer Attack
What is currently considered the largest ransom ever demanded and recorded by a cyber ransomware gang may be doubling to $100 million. In March 2021, reports surfaced that the REvil ransomware group breached Acer, a Taiwanese electronics and computer manufacturer with over 7,000 employees. With nearly $8 billion in revenue reported in 2019, Acer is the sixth […]
Why is Cyber-Insurance Critical for the Modern Business? – A perspective from Thom & Jerry
Since the first ransomware attack in 1989, criminal actors have vastly increased the number of attacks and raised their demands from new victims. The average ransom payment in Q1 of 2021 was $220,298, an increase of 43% compared to the average payment of $154,108 in Q4 of 2020. As cyber breaches grow in both scale and the size […]
Cyber Security Cornerstone: The Incident Response Plan
Background In recent years, cyber breaches have become more and more sophisticated. Targets have widened to include more than just government entities. And while cyber knowledge of best practices and cybersecurity buzzwords is certainly more common for businesses today, incident response plans and actions to prevent cyber breaches are struggling to keep pace with criminal […]
Measured Insurance Launches CyberGuard, Secures Coverholder Status with Lloyd’s of London
Salt Lake City — Measured Insurance, the data & analytics-driven cyber insurance company, is pleased to announce the launch of its new CyberGuard insurance product, backed by Syndicates at Lloyd’s of London. Measured’s CyberGuard insurance policy is now available to small and medium sized businesses in the US seeking smarter cyber coverage tailored to the actual […]
With Ransomware Attacks Increasing, Cyber Insurance Now Seen as A Necessity, Not a Luxury
Threat actors launched a cyberattack against the Texas Office of Court Administration, the IT provider for many Texas courts, and encrypted their computer systems with ransomware, leaving those systems useless. Cognizant, which has a large presence in Dallas-Fort Worth and is one of the world’s largest and most sophisticated providers of information technology services for […]
