by William A. Boeck | May 15, 2017 | Cyber Attack, Cyber Insurance, Ransomware
On May 12, 2017 computers around the world were hit with the largest ransomware attack ever. As of noon Central Time on May 15, 2017 the attack has hit over 200,000 computers in 150 countries. The map below shows the extent of the attack 24 hours after it was...
by William A. Boeck | April 26, 2017 | Data Breach
At the risk of stating the obvious, a cyber event can be very expensive for a company. Not convinced? Just ask Target. As the company reported in January 2015, the total costs incurred in 2013 and 2014 were $252 million. Some have argued that after insurance...
by William A. Boeck | March 13, 2017 | Cyber Insurance, Data Breach
In this installment of my series of posts about the basics of cyber policies (you can read earlier posts here and here) I’m going to talk about privacy liability coverage. As illustrated in the graphic below, privacy liability coverage is one of the four coverages...
by William A. Boeck | March 1, 2017 | Cloud Computing, Cyber Insurance
On February 28, 2017 Amazon Web Services’ Simple Storage Service (S3) sustained an outage that began at approximately 9:40 am PST, and lasted more than four hours. The outage, which Amazon characterized as “high error rates,” affected a data center in Virginia...
by William A. Boeck | October 16, 2016 | Critical Infrastructure, Cyber Attack, Healthcare, Internet of Things, Ransomware
It’s October, Halloween is coming, and it’s time for chilling stories. In a post earlier this year I talked about the growing threat of ransomware in hospitals. The attacks continue unabated. Ransomware that prevents access to data and computer systems is...
