Coalition Security Incident

Events Schedule Become a Sponsor Become a Speaker FAQ News Webcasts Remote Sessions eSummits Podcast About Us Contact Us Testimonials Themes Press Room Privacy Policy Subscribe Ransomware Ransomware: Number One Cyber Insurance Claim By Drew Todd Read more about the author Thu | Sep 10, 2020 | 2:06 PM PDT 2020 has been a year of great change and constant adaptation to new circumstances. Organizations and their employees shifted to remote working, which has opened the door for many cybercriminals to exploit new vulnerabilities in ways they have not before. Trends of cyber insurance claims for 2020 Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. The number one type of cyber incident so far this year is ransomware. The company says that ransomware accounted for 41% of cyber claims. And the most popular attack vector was phishing. 54% of cyber attacks started with email. Below you can see two charts describing these findings: Remote work increases cyber threats Along with these findings, the research shows three significant causes behind these attacks. "Due to the transition of remote work, exploitation of remote access was the root cause of reported ransomware incidents." "Email intrusion, invoice manipulation, and domain spoofing were the most common attack techniques for funds transfer fraud incidents." "Organizations that use Microsoft Outlook for email were more than three times as likely to experience a business email compromise compared to organizations that use Google." Attacker targeted certain industries more frequently. These industries include consumer businesses, healthcare, and financial services. 4 key takeaways from cyber insurance industry report In a blog post outlining the report, authors listed four things that organizations must takeaway when reading the report. 1. Cyber losses are increasing in number and severity ....

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