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Cowbell raises $100M to build out its AI-based cyber insurance platform for SMBs

TechCrunch

Cybercrime is on the rise, and today an insurance startup that’s built an artificial intelligence-based platform to help manage the risks from that is announcing a big round of funding to meet the opportunity. “Underwriting cyber insurance for SMEs is a more dire prospect than for large enterprises,” he said.

Insurance 260
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AI in the Enterprise: 5 key findings of AI usage and threat trends

CIO

Finance & Insurance and Manufacturing dominate AI adoption: The Finance & Insurance (28.4%) and Manufacturing (21.6%) sectors generated the most AI/ML traffic. AI-powered cyberthreat protection: Detect and block AI-generated phishing campaigns, adversarial exploits, and AI-driven malware in real time.

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Will Anyone Be Able to Get Cyber Liability Insurance Moving Forward?

Kaseya

Plus, with the rapid rise of the BYOD culture in the workplace and thousands of personal devices connecting to corporate networks, the chances of malware attacks are only getting higher. insurance giant, CNA Financial Corporation, was attacked by the ransomware group Phoenix and ended up paying a ransom of $40 million.

Insurance 111
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Scores of Organizations Hit By Novel Voldemort Malware

Ooda Loop

Researchers have uncovered a widespread malware campaign against entities in several countries. Researchers have uncovered a new malware campaign that makes use of several complex techniques to infiltrate victim’s systems.

Malware 59
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Daily Crunch: Silicon Valley Bank goes bust — regulators take control of $175B+ in deposits

TechCrunch

The agency appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Meanwhile, Lorenzo dove in to explore how the FBI proved a remote admin tool was actually malware. And here are some non-SVB, non-cybercrime headlines for you as well.

Banking 246
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Ransomware attacks against hospitals: A timeline

The Parallax

While there’s no ransomware-specific cost estimate to the health care business, Verizon’s annual Data Breach Report for 2018 estimates that ransomware is included in 85 percent of the successful malware attacks against hospitals. Cybersecurity researchers at Cylance estimated that the number of ransomware attacks tripled in 2017.

Security 154
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How to Protect Your Small Business from a Hacker Attack

The Crazy Programmer

Data breaches and compromised websites frequently used to spread malware can be risky for your business; including small businesses. Look into Cyber Insurance. There is such a thing a cyber-insurance. In fact, small or medium-sized businesses are likely to suffer more consequences of cyber-attacks than large enterprises.