The number of ransomware attacks has increased drastically. According to a report from security firm Barracuda, ransomware attacks grew 64% year-on-year between August 2020 and July 2021. The report says these attacks were carried out by a “handful of high-profile gangs,” such as Revil, Darkside and others. Ransomware attacks are making a big impact on cyber insurance.
The frequency of ransomware attacks has increased dramatically over the past year, with 93% more carried out in the first half of 2021 compared to the same period last year, according to Check Points mid-year security report.
And attackers are getting innovative too with ransomware as a service and triple-extortion ransomware techniques.
With increased ransomware attacks Insurance premiums are blowing through the roof, and clearly, it’s time to do something about it.
Dave Cole, CEO, Open Raven (Twitter: @mediafishy) and Brian Pereira, Editor-in-Chief, CISO MAG discuss ransomware payments and the impact on business and cyber insurance.
As Chief Product Officer of CrowdStrike, Dave took a nascent product line with a handful of small customers in 2013 and established it as a disruptive force in the industry that currently dominates endpoint security. He was also Chief Product Officer of Tenable where he steered the team through an aggressive growth phase, culminating in a successful initial public offering in the Summer of 2018.
In early 2019, Dave and Jack Daniel (B-Sides conference founder) started the Security Voices podcast as a sponsorless show focused on highlighting the diverse people and perspectives in cybersecurity. The podcast has released over 40 episodes and continues to publish new content monthly.
Dave is a frequent spokesperson, making appearances on NBC, CNN and elsewhere while speaking at industry events such as RSA, Black Hat and B-Sides Las Vegas. He has been a contributing author to a number of information security publications and books, including Crimeware: Understanding New Attacks and Defenses. Dave has authored a number of U.S. patents during his time at Foundstone and Symantec.
