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11 Insights into Cyber Insurance and How it Concerns You Business
There’s digital gold in your data storage units, computers, networks, and clouds. There is also a large portion of your reputational capital, liability of multiple kinds, and quite possibly the economic viability of your enterprise. With all this at stake, protection against IT incidents and accidents is a priority. However, data backups and IT security measures can only handle so much. Cyber insurance can help shield your business against the rest.
 
What is Cyber Insurance?
Cyber insurance is insurance for organizations and individuals against Internet-based risks. More generally, it may also cover risks related to IT assets and their usage. As with other kinds of insurance, cyber insurance allows you to transfer your risk to somebody else (the insurance company), instead of eliminating, mitigating or simply accepting it within your enterprise. On the other hand, it often differs from traditional business insurance products, which tend to exclude Internet and IT-related risks.
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The Password by Itself is Now Extinct
Multi-Factor Authentication is the New Standard
The use of a password for authentication is technically referred to as single factor authentication. The fact is that anything beyond a game site or online news source should be protected by more than just single factor authentication. In the hyper-connected world in which we live in today, it seems imprudent, at the very least, that we protect our most confidential information with merely 8 to 14 characters on average, sometimes even less. Yet that single password is a single line of defense from hackers trying to access finances or from hooligans trying to tarnish social media profiles.
 
Think about the utter turmoil that would occur for a typical person if a hacker was able to abscond the password he or she uses to access their email, bank account, social media accounts, retirement account and credit cards. Imagine the primal scream escaping from their lungs when they discover their bank account is depleted thanks to an unauthorized transfer of funds because someone hacked into their online account by capturing their password.
 
Cleverly Disguised Ransomware Infecting Chrome Users 
A new variant of ransomware is spreading via poorly secured websites and the Chrome Web Browser. Users are fooled into downloading what they think is a missing font pack in order to resolve the error. This attack technique is not uncommon, and has been recently reported delivering click-fraud malware, and now, ransomware. Click-fraud malware is a less malicious variant of malicious code that generates revenue for attackers by browsing to predetermined websites and “clicking” on ads.
 
How the Attack is Executed
1. Poorly secured websites are being targeted and compromised when the attacker gains access to the site’s code (common examples include WordPress and blog sites)
2. Script(s) are added that target and filter users running the Chrome web browser via Microsoft Windows OS
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