Major Climate Disasters Caused $ 46 Billion in Damage in 2016
Although severe weather is likely every year , there were 15 separate climate disasters in 2016 that led to at least $ 1 billion in damage . That ’ s the second most severe weather events in one year since the National Centers for Environmental Information ( NCEI ) began tracking the costs of storms in 1980 .
According to an annual report from the NCEI , various floods , droughts , wildfires , hurricanes and severe thunderstorms led to approximately $ 46 billion in total damage last year . Additionally , this amount doesn ’ t account for losses due to the loss natural resources , health care costs or loss of life .
Climate-related disasters of any kind can have a large impact on businesses . Even if your business makes it through a storm relatively intact , damage to your vendors or your area ’ s infrastructure can lead to substantial business interruption . For help preparing for a severe storm , contact your partner at Marshall & Sterling Upstate , Inc .
Most Cyber Attacks in 2016 Caused by Ransomware and DDoS Attacks
According to a recent report from Radware , a leading cyber security provider , nearly half of all surveyed businesses experienced a ransomware attack in 2016 . Ransomware is a type of attack where an organization is “ locked out ” of its computer network until a financial ransom is payed , usually with the anonymous and digital bitcoin currency .
The report also showed that cyber criminals frequently used the threat of a distributed denial of service ( DDoS ) attack to elicit a bitcoin ransom . These attacks slow down a target server until it is rendered useless , often leading to prolonged business interruptions .
What ’ s worse is that these types of attacks are relatively easy for criminals to perform , and are often automated by using malware or bots . Additionally , Radware found that 40 percent of respondents don ’ t have a cyber incident response plan in place to counteract ransomware and DDoS attacks .
The report also made a number of predictions for cyber attacks in 2017 , which included the creation of new types of DDoS attacks , more targeted ransomware attacks and the increased prevalence of politically-motivated cyber attacks .
Cyber Crime Evidence Connected to Russia Found in a Vermont Electric Utility System
U . S . intelligence agencies recently announced that they have discovered computer code on a laptop at a Vermont-based electric utility that can be connected to Russia . Russian sources have also been accused of influencing the most recent presidential election through cyber attacks , although it ’ s currently unknown if the two events are connected .
Experts believe that the discovery of malicious code on a utility provider ’ s computer network is troubling , as hackers could then gain control of and disrupt utilities on a large scale . However , there is no evidence that the code discovered on the electrical utility ’ s laptop compromised its systems or customer information .
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