Remove 2016 Remove Computer and Electronics Remove Insurance
article thumbnail

Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M

Krebs on Security

Now the financial institution is suing its insurance provider for refusing to fully cover the losses. According to a lawsuit filed last month in the Western District of Virginia, the first heist took place in late May 2016, after an employee at The National Bank of Blacksburg fell victim to a targeted phishing email. million total.

Insurance 198
article thumbnail

Insurance Occurrence Assurance?

Andrew Hay

Though the breaches are concerning, the real story is that the financial institution suing its insurance provider for refusing to fully cover the losses. The first was a “computer and electronic crime” (C&E) rider that had a single loss limit liability of $8 million, with a $125,000 deductible.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Happy 13th Birthday, KrebsOnSecurity!

Krebs on Security

You just knew 2022 was going to be The Year of Crypto Grift when two of the world’s most popular antivirus makers — Norton and Avira — kicked things off by installing cryptocurrency mining programs on customer computers. ” The employees who kept things running for RSOCKS, circa 2016. In 2016, while the U.S.

Passwords 287
article thumbnail

Court Rules Fraud Involving a Computer Is Not ‘Computer Fraud’ under Crime Protection Policy

Hunton Privacy

On October 18, 2016, the United States Court of Appeals for the Fifth Circuit held in Apache Corp. Apache recouped a portion of the payments from its bank and attempted to recover the balance from its insurer. Apache was insured under a crime-protection insurance policy issued by Great American Insurance Company (“GAIC”).

article thumbnail

OCR Enters into Record Settlement with Anthem

Hunton Privacy

Three years ago, in February 2015, OCR opened a compliance review of Anthem, the nation’s second largest health insurer, following media reports that Anthem had suffered a significant cyberattack. million, which OCR imposed in 2016 against Advocate Health Care Network. prevent unauthorized access to ePHI.

article thumbnail

HHS Announces HIPAA Settlement with UMass

Hunton Privacy

On November 22, 2016, the Department of Health and Human Services (“HHS”) announced a $650,000 settlement with University of Massachusetts Amherst (“UMass”), resulting from alleged violations of the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) Privacy and Security Rules. .

article thumbnail

No Bad Faith Means No Sanctions for Failing to Preserve Video of Altercation: eDiscovery Case Law

eDiscovery Daily

In this employment discrimination case involving claims of sexual harassment, the plaintiff was injured in 2016 in a physical confrontation with her supervisor (who was also the alleged harasser) and the confrontation was recorded on one of defendant’s surveillance cameras. Case Background.