Tag: cyber threat

Feb
06
2020

Coverage Gap Concerns as Cyber Threat Grows

by CoreMark | posted in Blog, Uncategorized

Small and mid-sized businesses are increasingly bearing the burden of cyber threats, as criminals consider them low-hanging fruits that often do not have the resources in place to mount a strong defense. Having a solid cyber insurance policy in place is key, along with understanding what exactly your policy covers. A severe attack on a small company can incapacitate its ability to do business, and the expenses of getting operations back on track ― coupled with loss of goodwill ― can easily force many firms into bankruptcy. That’s why it’s important to not only have safeguards in place to avoid…
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Oct
18
2017

Ward off Phishing Attacks by Training up Your Staff

by CoreMark Insurance Services | posted in Blog

Cyber attacks are on the rise, and “phishing” – the practice of tricking insiders into answering e-mails, clicking links or otherwise exposing company networks to criminal intruders – is a leading tactic. Modern encryption can thwart many hackers, so crooks are focusing on the weakest link in the chain – people themselves. A recent study from the Anti-Phishing Working Group logged more than 1.2 million phishing attacks in 2016, an increase of 56% from the previous year. Furthermore, an analysis of known attacks from PhishMe, a company that helps employers guard themselves against e-mail-related frauds, estimates that nine out of…
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Mar
02
2017

Ransomware Becomes Biggest Cyber Threat Facing Businesses

by CoreMark | posted in Blog

Ransomware is turning out to be the biggest cyber threat facing companies in 2017 after attacks more than quadrupled in 2016 from the year prior, according to a new study. If you are not familiar with this fast-evolving cyber threat, typically the perpetrators will essentially lock down your database and/or computer system and make it unusable, then demand that you pay a ransom to unlock the system. The “Beazley Breach Insights Report January 2017” highlights a massive and sustained increase in ransomware attacks. Another report, the “2017 SonicWall Annual Threat Report,” found that cyber criminals are shifting their attention from…
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Sep
21
2016

Ransom Often the Smallest Cost of Ransomware

by CoreMark | posted in Blog

One of the least understood cyber threats to businesses is ransomware, which hackers use to shut down an organization’s computer system until the victim pays a ransom to unlock it. While most organizations focus on the cost of the ransom, which is typically less than $1,000, the costlier damage is to the company’s operations, which can be hampered or completely shut down after their systems are rendered unusable. Ransomware is one of the fastest-growing cyber threats and attacks are expected to grow 300% in 2016 from the year prior, making it vital for your organization to have in place systems…
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Sep
16
2016

Hackers Can Tap USB Devices in New Attacks, Researchers Warn

by CoreMark | posted in Blog

New research says that USB devices like thumb drives, and even keyboards and mice, pose one of the biggest cyber threats to enterprises. Two scientists and researchers with Berlin’s SR Labs presented on the newest cyber threat at the recent “Black Hat” hacking conference in Las Vegas in a presentation titled: “Bad USB – On Accessories that Turn Evil.” Malicious code can creep into these devices through malware on a computer and be used to hack both personal and business computers, according to SR Labs. Karsten Nohl, chief scientist at the German company, said that hackers or malware can load…
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Sep
14
2016

The New Threat to Your Officers and Directors: Cyber

by CoreMark | posted in Blog

The top brass at companies are increasingly being held accountable by partners and shareholders for cyber attacks that occur under their watch, putting their directors’ and officers’ personal assets at risk when lawsuits ensue. While actions by officers and directors have always been held under scrutiny, the cyber threat expands their potential liability significantly, according to a new report by Fitch Ratings. And with new regulations that hold organizations accountable for cyber breaches and responsible for remediation, mitigation and recovery from cyber attacks, the onus is even greater now on your directors and officers if they are deemed negligent for…
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