Month: April 2024

When companies lose access to their data, cybercriminals will demand a ransomware settlement. The problem is that this fee can quickly add up. In 2021, for example, hackers hit the US Colonial Pipeline, causing it to shut down and strand fuel in a crisis. It settled …

Companies must interface with insurers immediately and request consent or authorization to engage incident response firms and other consultants. Most cyber liability policies require such notification and approval. Some observe that cybercriminals are preferentially targeting companies with insurance, leveraging the fact that they know the company …