Ransomware Attacks Surge In 2019, Insurer Beazley Says

Law360 (May 23, 2019, 5:54 PM EDT) -- Insurer Beazley Group says its clients have reported twice the number of ransomware cyberattacks in the first quarter of 2019 as they did last year, with hackers targeting bigger companies and demanding bigger ransoms than ever before.

Beazley, which insures law firms, hospitals, and oil and gas companies, among others, said Thursday its Breach Response team, which handles data breaches for the insurer's policyholders, has tallied a 105% increase in ransomware attacks among its clients year over year.

Many of the attacks are coordinated and rely on sophisticated types of ransomware like Ryuk and BitPaymer, Beazley said. And the demanded ransom...

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