Travelers Companies, Inc. Reports Surge in Ransomware Activity
The Travelers Companies, Inc., a leading provider of property and casualty insurance, has issued its Q4 2024 Cyber Threat Report, which uncovers a significant rise in ransomware incidents. The report, which is based on an analysis of data from ransomware leak sites, underscores an increase in the number of organizations targeted by ransomware groups over the last quarter.
These cybercriminal groups have demonstrated a persistent use of familiar attack vectors, such as exploiting vulnerabilities in virtual private network (VPN) credentials and circumventing multi-factor authentication (MFA) defenses. Travelers remains committed to collaborating with policyholders to bolster their cybersecurity preparedness. The company offers tailored strategies for identifying and mitigating cybersecurity vulnerabilities, employing pre-breach services, real-time monitoring, alert systems, and providing access to specialists available around the clock. This proactive approach assists businesses in minimizing the risk of cyberattacks and ensures rapid recovery in the event of a breach.
“Our observations clearly indicate that basic attack techniques continue to be highly successful for ransomware groups,” said Jason Rebholz, Vice President and Cyber Risk Officer at Travelers. “These groups are aggressively targeting organizations and achieving substantial success. It is crucial for businesses to implement tried and true security measures, such as MFA, to create significant obstacles for malicious actors aiming to infiltrate their systems. Travelers is here to help mitigate these risks.“
