Cyber & Information Security Resources

Ransomware attacks are associated with increased losses due to a rise in ransom demands and the associated expenses in getting systems back online.¹ At AIG, we anticipate an increase in cyber business interruption on a global level as ransomware and extortion attacks evolve. The rapid spread of malware or attacks on critical service providers by state-sponsored actors could bring widespread disruption and potentially also physical damage to a wide range of industries.

There are many steps organizations can take to mitigate the risk, including having multiple backups; however, cyber insurance is becoming an important backstop to protect an organization’s balance sheet and help it recover quickly when these incidents occur.

• Please reference our Staying Safe from Ransomware page for more safety tips to help protect yourself from ransomware threats. 
  
• More resources from partner organizations can be found on these pages to include additional actions and resources available to your organization designed to address ransomware.

At a time of increased remote work, employees are more vulnerable than ever to exploitation by malicious actors. Phishing is one of the most common types of cyberattacks used by malicious actors to access an organization’s network and confidential information. AIG conducts recurring phishing simulation tests to help build the firm’s resilience to cyber-threats by exercising and evaluating readiness across the workforce.

• Read more about Phishing to learn safety tips on how to protect against these types of threats. 

Poor password hygiene is an issue that has not gone away, although best practice approaches have evolved. Simple passwords are typically the weakest link in otherwise secure networks. Attackers often use password-cracking tools to circumvent an encrypted password and gain access to a user’s account. This is easier to do if the password is simple, such as ‘password’, ‘qwerty’ or ‘1234567’.

Whereas the advice was once to change passwords regularly, today it is deemed more useful to have a strong password and to stick with it. The National Institute of Standards and Technology’s (NIST) Cybersecurity Framework provides information about best practices for passwords and passphrases.¹

• Learn more about how to Supercharge Your Passwords and,
• Read about Multifactor Authentication to learn how to enable MFA to better protect your information and data online.

¹ Source: https://www.aig.co.uk/content/dam/aig/emea/united-kingdom/documents/Insights/cyber-human-factor.pdf