“ WE ’ VE SEEN THREAT ACTORS TARGET A VARIETY OF INSURANCE COMPANIES FROM THE AUTOMOBILE AND AGRICULTURAL INDUSTRY TO THE HEALTHCARE SECTOR ”
DIGITAL ECOSYSTEMS
Using insights from threat Intelligence business IntSights , a Rapid7 company ’ s recent 2022 Insurance Industry Cyber Threat Landscape Report , we ’ ve put together five of the biggest cybersecurity threats facing insurers at a global level .
Ransomware
1 attacks on insurance companies Insurers that provide cyber insurance coverage , in particular , are proving to be more attractive targets to ransomware operators . Compromises of their networks would give ransomware operators a way to identify and obtain policy details and security standards for their cyber insurance customers .
“ WE ’ VE SEEN THREAT ACTORS TARGET A VARIETY OF INSURANCE COMPANIES FROM THE AUTOMOBILE AND AGRICULTURAL INDUSTRY TO THE HEALTHCARE SECTOR ”
PAUL PRUDHOMME HEAD OF THREAT INTELLIGENCE ADVISORY AT INTSIGHTS , A RAPID7 COMPANY
Cyber insurance coverage for ransomware attacks , particularly coverage of ransom payments , makes companies more attractive targets to ransomware operators due to the perception that those policyholders are more likely to pay ransoms if their insurers cover it . The details of cyber insurance policies , particularly the maximum ransom amount that a cyber insurance policy will cover , are also very useful to ransomware operators . Ransomware operators can use that information to calculate an optimal ransom amount that is both high enough to maximize profit but low enough for victims to accept .
cybermagazine . com 87