Bitcoin Intensifies Pain for Some as Ransom Demands Skyrocket [Bloomberg Business News]
Chubb Limited (CB)
Last chubb limited earnings: 4/21 04:05 pm
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Source: Bloomberg Business News
Hey, want those photos and files back? It may cost more than it used to. Thank bitcoin. Chubb Ltd. , best known for catering to wealthy families and corporations, is among at least three insurers facing a jump in costs tied to claims from ransomware attacks. The firms attribute much of that to the surging price of bitcoin, the currency of choice for online extortionists. And that’s bad news for everyone. There’s been “a massive escalation” in both the number of attempts and the size of demands as criminals scramble for the hot cryptocurrency, said Michael Tanenbaum, an executive vice president at Zurich-based Chubb. “The rise in price of bitcoin correlates,” he said in an interview, declining to specify total costs. Around midyear, top payouts in corporate ransomware attacks began to exceed $1 million, dwarfing the previous maximum of about $17,000, he said. Insurers like Chubb are a good place to look for information on costs from ransomware -- a type of mali
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News
- Chubb Limited (NYSE: CB) had its price target lowered by analysts at Royal Bank of Canada from $295.00 to $285.00. They now have an "outperform" rating on the stock.MarketBeat
- Chubb Limited: Where Impressive Becomes The New Norm [Seeking Alpha]Seeking Alpha
- Chubb Report: Damage During Home Renovations and from Extreme Weather are Top Concerns of U.K. High EarnersPR Newswire
- Chubb Limited (NYSE: CB) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Chubb's (CB) Q1 Earnings Top Estimates, Premiums Rise Y/Y [Yahoo! Finance]Yahoo! Finance
CB
Earnings
- 4/23/24 - Beat
CB
Sec Filings
- 4/26/24 - Form 10-Q
- 4/26/24 - Form 4
- 4/24/24 - Form DEFA14A
- CB's page on the SEC website