One of the key takeaways from the inaugural meeting was the emergence of the Maze variant and a “new normal” of data exfiltration, often including stolen private customer information.
Whereas previous generations of ransomware have been designed by threat actors to encrypt data and extort an organization for Bitcoin in exchange for the decryption key, Maze significantly increases the pressure on the victimized organization and threatens to make the stolen data public by releasing it on the internet.
This has magnified the potential loss exposure and has led to a host of new privacy data breach risks for insureds — with accompanying notification requirements.
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