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Archive for August 2024

Microsoft Azure Attack Shows Persistence of Blunt Hacking Tool

The recent outage on Microsoft Corp.’s cloud-computer platform demonstrated the persistence of an older, blunt-force style of cyberattack. It’s called a distributed denial-of-service attack, DDoS for short, and it works by directing massive amounts of junk internet traffic at a … Source: Claims Journal

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Billions in Damages From CrowdStrike Outage to Go Uninsured

The vast majority of damages from last month’s CrowdStrike Holdings Inc.’s global IT outage will go uninsured, according to new estimates from Guy Carpenter and CyberCube Analytics Inc. The days-long cyberincident — which grounded planes, shuttered businesses and stopped markets … Source: Claims Journal

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Good Faith Claim Handling in Fraud Investigations

Insurance fraud is rampant. It is considered to be the second costliest white-collar crime in America after tax evasion, costing consumers an estimated $308.6 billion each year. It may involve outright fraud—such as a staged accident, arson, identity theft, contractor … Source: Claims Journal

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