News and Updates on Information Technology

Ransomware hit the largest property and casualty insurer Japan’s Tokio Marine Holdings

Exploit: Ransomware

Tokio Marine Holdings: Insurer

cybersecurity news represented by agauge showing severe risk

Risk to Business: 1.721 = Severe

Japan’s largest property and casualty company, Tokio Marine Holdings, was struck by ransomware at its Singapore branch. The insurer, which has a U.S. division and offers a cyber insurance product, said it did not have any immediate indication that any customer information was accessed. Tokio Marine was able to isolate the affected network and notified local law enforcement. Investigators from an outside vendor are working to determine the scope of the damage.

Individual Impact: There has not yet been an announcement that employee, customer or consumer personal or financial information was compromised in this incident but the investigation is ongoing.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business Insurers have recently been choice targets for cybercriminals, especially after the announcement by insurers like AXA that they will no longer pay out claims for ransoms

Source: Cyberscoop