Insurance giant AXA S.A. has been hit by a massive ransomware attack, just days after announcing that it would no longer cover damage from that class of cyberattack in France. AXA said on Sunday that the cyberattack has targeted its Asia Assistance division, impacting IT operations in Thailand, Malaysia, Hong Kong and the Philippines.
Global insurance company AXA said Thursday it will stop writing cyber-insurance policies in France that reimburse customers for extortion payments made to ransomware criminals.
Cyberinsurance firm CNA Financial was reportedly hit by a possible cyberattack. The company is one of the largest insurance providers in the U.S.
The company's website is experiencing widespread network disruptions and employee services have been down for more than three days. CNA says it was hit by a sophisticated cyberattack and has engaged a team of third-party forensic experts to investigate and determine the full scope of this incident, which is ongoing.
In late August, the Orlando City Soccer Club played its first game since its games and operations shut down in the spring due to COVID-19. It was a great evening, says Robert Schnettler, who is Senior Director of Security and Guest Services for the club and Exploria Stadium.
TransUnion’s latest quarterly analysis of global online fraud trends found that fraudsters are decreasing their schemes against businesses, but increasing COVID-19 focused scams against consumers online.
Nonprofits Insurance Alliance (NIA) announced that Steven Salar has joined NIA as Chief Risk Officer (CRO) responsible for compliance, risk management, internal audit, employment risk consulting, loss control and member support.
Late last year, it was announced that the major aluminum manufacturing firm, Norsk Hydro AS, received a $3.6 million cyberinsurance payout – the first around highly publicized, extensive cyber breach of March 2019. The large ransomware attack struck the company’s U.S. facilities – before spreading throughout the company, resulting in millions of dollars lost – destabilizing Norsk Hydro’s operations until the summer months. The payout covered merely six percent of the multi-million-dollar costs created by the incident and its aftermath.
“For many people who work in enterprise security, there’s no straight line to get there. That was my situation, too,” says Jerry Loghry, AVP Corporate Security & Safety for EMC Insurance Companies.