Cyber insurance heats up as 'ransomware becomes more sophisticated'


Ransomware is a quick and easy method for cyber criminals to make money. Hackers extort vulnerable individuals or corporations by encrypting important files and demanding payment in return for de-encryption. It's a tried and tested form of malware with hundreds, possibly thousands, of variants. Unfortunately, as cyber security advances to meet this threat, cyber criminals are also upping the sophistication of their ransomware campaigns. The cycle is ongoing and new trends and malware variants are cropping up all the time.

Generali develops new Cyber Insurance function


The Italian insurance major said that the Cyber Insurance function will be a combination of a variety of cyber insurance solutions. The company noted that the newly created cyber insurance subsidiary, dubbed GeneraliCyberSecurTech, will provide support to the Cyber Insurance function. Generali CyberSecurTech has been formed with an objective to offer new cyber risk assessment solutions for its customers through a web-based platform. The Cyber Insurance function and the new cyber insurance subsidiary are expected to improve and boost Generali's current offering across Europe, Asia and the Americas. Generali has also launched a technology platform called Majorana alongside CyberSecurTech, which is said to use innovative methodologies to handle risk and thereby enabling the gradual implementation of its global cyber insurance offer.

Cyber Dam Busters could give Australia's military an asymmetric edge


The Australian Defence Force (ADF) has a "distinct battlefield edge" because it has fully integrated its military offensive capability into ADF operations. But a "modest" additional investment would give it "an asymmetric capability against future adversaries", according to the International Cyber Policy Centre (ICPC) at the Australian Strategic Policy Institute (ASPI). This ebook, based on the latest ZDNet/TechRepublic special feature, offers a detailed look at how to build risk management policies to protect your critical digital assets. "Having synchronised operations with traditional ADF forces, cyber might be able to bring something special to the table," said Tom Uren, a visiting fellow at the ICPC, and co-author of the policy paper Australia's Offensive Cyber Capability released on Tuesday. "Perhaps you might be able to disrupt some part of an opposing military command and control.

Florida Starts Cyber-Security Training Through University, Cyber Range Partnerships - Latest Hacking News


The State IT personnel of Florida has started an initial cyber-security training program on Tuesday in collaboration with the Center for Cyber-security of the University of West Florida. This partnership is meant to enhance and stabilize the state's cyber-security posture and provide support to the government workforce through the most advanced learning resources. This program entails topics such as cyber security incident management, operating system hardening, network defense risk management, cloud security and other such topics which are of great concern in today's world. The Florida Cyber Range is basically a partnership between the Center for Cyber security and cyber simulations company Metova Cyber Cents, and was meant to be open to industry, academic and government entities. UWF's Cyber-security for All program sticks to the National Initiative for Cyber Security Education (NICE) framework, which functions as a national blueprint for different areas within this field.

Cyber insurtech trends


The new Quarterly InsurTech Briefing from global advisory, broking and solutions company Willis Towers Watson focuses on cyber insurtech, looking at the tools, models, services and solutions that price cyber as a risk and provide solutions for the aftermath of an attack. The briefing includes case studies of the InsurTechs Guidewire Cyence Risk Analytics (Cyence), which models the economic impacts of cyber; Corax, which builds analytics tools to support the design and pricing of new cyber insurance products; Paladin Cyber, which creates cyber-risk detection and protection tools; Zeguro, which builds tools to remove cyber threats; and Refirm Labs, which devises methods to vet and validate hardware security. "Cyber is a multifaceted, ever-evolving phenomenon. The appropriate response to this is to task our industry with an equally multifaceted approach. Rather than trying to specialise and excel in each tenet required, insurtechs offer our industry a huge opportunity through strategic commercial partnering to allow incumbent insurance firms the ability to become part of a broader, more resilient jigsaw puzzle," said Dr Andrew Johnston, Global Head of InsurTech at Willis Re.