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Non-profit health insurer Point32Health suffered a ransomware attack and has taken systems offline in response to the incident. Non-profit health insurer Point32Health has taken systems offline in response to a ransomware attack that took place on April 17. ” reads the statement published by the insurer.
When security fails, cyber insurance can become crucial for ensuring continuity. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.
To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.
Purchasing life insurance once meant going to an insurer’s office or booking an appointment with an insurance agent. Today’s generation is used to getting everything done fast and easy, so life insurance providers had to get with the times and cover all customers’ needs and requirements.
The insurance industry is in the midst of a brutal stress test, due to the current environment. Some insurance products may become uneconomical. And many insurers will come under pressure to reduce their spending. Given this fast-changing business environment, insurers need […].
Bitmarck, one of the largest IT service providers for social insurance carriers in Germany, announced yesterday that it has suffered a cyber attack. “We very much regret the inconvenience caused to our customers, service providers and insured persons and are working to restore the systems as quickly as possible.”
One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. These activities aren’t typically included in standard business insurance policies, which tend to only cover costs related to technical issues, such as corrupted hard drives and lost devices. The benefits of cyber insurance.
That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? We take at a look at everything you need to know in this blog. What is cyber insurance? How does cyber insurance work?
The news agency has transferred its emergency distribution to clients to six live blogs that provide a better overview. “If The agency launched an investigation into the incident with the help of an external security firm and its insurance company.
Cyber liability insurance helps organisations cover the financial costs of a data breach. Without insurance, organisations spend £3.6 By purchasing cyber liability insurance, organisations gain the resources they need at a fraction of the cost. What does cyber insurance include? First-party vs third-party insurance.
Wanted: More insurance innovation. This CGI blog post discusses the need and opportunities for insurers to drive more innovation. Tue, 06/15/2021 - 07:04.
The National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law has been adopted in at least 11 states, with several others (including New York) having implemented either older or similar laws or administrative guidance. appeared first on Data Matters Privacy Blog.
The National Association of Insurance Commissioners (NAIC) held its Spring 2024 National Meeting (Spring Meeting) March 15 through 18, 2024. The post Regulatory Update: National Association of Insurance Commissioners Spring 2024 National Meeting appeared first on Data Matters Privacy Blog.
.”Once the attackers have established a foothold in an organization, they proceed with lateral movement by leveraging Impacket within the network, placing a passive backdoor into the victim environment, harvesting as many credentials as possible to insure unlimited access, and focusing on data exfiltration.” Pierluigi Paganini.
Helping insurers monitor horticulture assets from space to reduce risks and ensure business continuity. This CGI blog post discusses monitoring horticulture assets from space to help insurers reduce risks and ensure business continuity. Fri, 07/03/2020 - 02:22.
Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.
Astoria Company LLC is a lead generation company that leverages on a network of websites to collect information on a person that may be looking for discounted car loans, different medical insurance, or even payday loans. Collected data si shared with a number of partner sites (such as insurance or loan agencies), that pay per lead referral.
Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.
Treasury Department is seeking public comment on the need and scope for a potential federal insurance response to catastrophic cyber incidents, akin to the one put in place for terrorism insurance after the attacks of September 11, 2001. The request, published by the Federal Insurance Office (FIO) in the U.S. Background.
According to Parametrix , an insurance company specialising in Cloud outages, cyber insurance policies likely cover up to 10–20% of losses only. Then there’s insurance. The post CrowdStrike: Lessons on the Importance of Contracts, Insurance and Business Continuity appeared first on IT Governance UK Blog.
In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Artificial intelligence applied to insurance The insurance industry has always made extensive use of data and algorithms, such as in the calculation of insurance premiums.
.” Potentially compromised data depend on the individual and may include: name, address, date of birth, hospital or medical group, patient account number, medical record number, health insurance information, testing/diagnostic/treatment information, other health-related information, and claim information. To nominate, please visit:?
The most likely way in which you’ll learn that you’ve fallen victim to the identity theft-based unemployment insurance scam is by receiving an unsolicited debit card in the mail. I wrote this article to help other victims of this unemployment insurance fraud and identity theft scam.
Boston, MA April 1st, 2025 Indico Data, The Decision Automation Company , today announced pivotal leadership appointments that reinforce its commitment to revolutionizing the insurance industry through AI-driven decision automation.
According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well.
Last week, KrebsOnSecurity reported to health insurance provider Blue Shield of California that its Web site was flagged by multiple security products as serving malicious content. How did a browser extension lead to a malicious link being added to the health insurance company Web site?
The National Association of Insurance Commissioners (NAIC) held its Summer 2023 National Meeting (Summer Meeting) from August 12–16, 2023. The post Regulatory Update: National Association of Insurance Commissioners Summer 2023 National Meeting appeared first on Data Matters Privacy Blog.
The Los Angeles Times reported that San Bernardino County paid half the total of the ransom ($511,852), while the remaining part was covered by the insurance carrier. Sheriff’s Department spokeswoman Gloria Huerta said that the investigation is still ongoing. ransom appeared first on Security Affairs.
In my previous post , I described the different capabilities of both discriminative and generative AI, and sketched a world of opportunities where AI changes the way that insurers and insured would interact. As AI technologies continues to mature and use cases expand, insurers should not shy from the technology.
2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. The Framework.
Insurance customers expect more: instantly, seamlessly, and exactly the way they want it. The stakes are high, as insurance customers typically only interact with their carriers once or twice a year—a stark contrast to the frequent interactions seen in banking. It’s a reality that goes straight to the bottom line. Salesforce.
The National Association of Insurance Commissioners (NAIC) held its Fall 2023 National Meeting (Fall Meeting) from November 30 through December 4, 2023. The post Regulatory Update: National Association of Insurance Commissioners Fall 2023 National Meeting appeared first on Data Matters Privacy Blog.
The National Association of Insurance Commissioners (NAIC) held its Spring 2023 National Meeting (Spring Meeting) March 21–25, 2023. The post Regulatory Update: National Association of Insurance Commissioners Spring 2023 National Meeting appeared first on Data Matters Privacy Blog.
Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP. Digital Transformation is More Than Scanning Paper Documents.
ICICI Bank’s response Threat to financial accounts Finance and insurance are one of the most targeted industries by cybercriminals. Unfortunately, Cybernews journalist’s email was rejected, and, at the time of writing, we’ve received no official response from the bank.
1, 2023 – Guardz , the cybersecurity company securing and insuring SMEs, today disclosed the existence of a Hidden Virtual Network Computing (hVNC) malware targeting macOS devices. To learn more about the newly disclosed macOS hVNC and the rising trend of threats against SMEs, see Guardz’s recent blog post here.
On February 12, 2025, the European Insurance and Occupational Pensions Authority ( EIOPA ) published a consultation on its draft opinion on artificial intelligence ( AI ) governance and risk management (the Opinion ).
The security breach occurred between March 12 and March 13, threat actors had access to person’s name, address, date of birth, Social Security number, medications and health insurance information. In response to the incident, the company enhanced its technical security measures. million individuals appeared first on Security Affairs.
Exposed data includes full names, birth dates, national ID numbers, medical insurance numbers, and other personal data. ” reads the blog post published by Diachenko. ” reads the blog post published by Diachenko. The database contained 3.4
In today’s digital world, the ability to reduce the risk of fraud is key for any industry, but especially so for health insurance providers and healthcare organizations. The post Mainframe automation and AI to detect risk of fraud in healthcare insurance: 4 key considerations appeared first on The Rocket Software Blog.
A CISO Primer on Navigating Cyber Insurance After 10+ years of working with clients to negotiate and place cyber insurance, I’ve noticed that one of the most frequent challenges has always been getting the underwriters and my client’s information security stakeholder (like a CISO or CIO) to understand each other.
A criminal exploiting someone’s medical or insurance details to make fraudulent claims is known as medical identity theft. Because the scammer’s health records are linked to the victims’ information, it may not be easy to qualify for insurance in the future.
Hi folk, let me inform you that I suspended the newsletter service, anyway I’ll continue to provide you a list of published posts every week through the blog. American Insurance firm State Farm victim of credential stuffing attacks. The best news of the week with Security Affairs. Once again thank you!
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