eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

Insurance 130

Insurance Ransomware Risk Data science 130

Security Affairs

FEBRUARY 8, 2024

Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 Privacy Compliance: By 2024, 40% of privacy tools will rely on AI, highlighting its expanding role in ensuring data privacy and meeting regulations. Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 million per breach.

Security 352

Security Phishing IoT Ransomware 352

Hunton Privacy

JUNE 9, 2022

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). to 500.23) and they submit a written statement to the Commissioner certifying such compliance. On May 27, 2022, Vermont Governor Phil Scott signed H.515

Insurance 107

Insurance Security Information Security Cybersecurity 107

Krebs on Security

AUGUST 6, 2020

A group of thieves thought to be responsible for collecting millions in fraudulent small business loans and unemployment insurance benefits from COVID-19 economic relief efforts gathered personal data on people and businesses they were impersonating by leveraging several compromised accounts at a little-known U.S.

Insurance 362

Insurance Communications Authentication Access 362

The Last Watchdog

NOVEMBER 12, 2024

The compliance variable has come into play in an impactful way. Over a decade, the SEC’s enforcement has not improved cybersecurity outcomes but has burdened firms with compliance. Other companies may continue to rely on hiding the ball, scapegoating and relying on insurance to cover the losses.

Cybersecurity 263

Cybersecurity Risk Government Compliance 263

eSecurity Planet

OCTOBER 8, 2024

IT leaders know that the reason regulators and cybersecurity insurers require them to conduct network penetration testing is to ensure they’re protecting their networks from being accessed by attackers. But a compliance-driven, once-per-year approach to testing isn’t capable of helping firms keep up. To learn more, visit www.vonahi.io.

Compliance 111

Compliance Insurance Risk Security 111

Dark Reading

MARCH 8, 2023

It's getting hard to buy cyber insurance, but not having it is not always an option. Low-coverage plans could bridge the gap.

Insurance 83

Insurance Compliance IT 83

eSecurity Planet

FEBRUARY 14, 2023

It was also a drag on the sales cycle, and then there was the need for maintaining compliance. The vision was to automate security and compliance across 14 frameworks, including SOC 2, ISO 27001, HIPAA and GDPR. “Our GRC Market Defies Downturn There are some powerful drivers for the compliance and security automation market.

Compliance 123

Compliance Security Cybersecurity Marketing 123

Krebs on Security

JUNE 18, 2021

The SEC says First American derives nearly 92 percent of its revenue from its title insurance segment, earning $7.1 Title insurance protects homebuyers from the prospect of someone contesting their legitimacy as the new homeowner. Title insurance is not mandated by law, but most lenders require it as part of any mortgage transaction.

Insurance 330

Insurance Risk Financial Services Mining 330

Data Protection Report

MARCH 21, 2023

2] In this context, the Directorate General of the French Treasury has put forward a plan of action with a view to clarifying the cyber-insurance legal framework, better gauging cyber-risks, and enhancing companies’ awareness as regards cyber-risks. 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

Insurance 105

Insurance Data breaches Personal data GDPR 105

Hunton Privacy

DECEMBER 16, 2022

The FTC emphasized that the tool is meant to provide general guidance about potential compliance obligations and cannot substitute for personalized legal advice.

Compliance 108

Compliance Insurance Privacy Access 108

Security Affairs

NOVEMBER 14, 2022

Add to that, there is the risk of penalties and fines (which are not insurable in most jurisdictions) not only under privacy and data protection regulations but also on the basis of cybersecurity regulations that are now proliferating. What should directors do if a cyberattack happens to the company? there could be reputational damage.

Insurance 354

Insurance Risk Ransomware Encryption 354

Krebs on Security

MARCH 2, 2021

-based PrismHR handles everything from payroll processing and human resources to health insurance and tax forms for hundreds of “professional employer organizations” (PEOs) that serve more than two million employees. The company processes more than $80 billion payroll payments annually on behalf of PEOs and their clients.

Ransomware 337

Ransomware Insurance Cloud Encryption 337

Krebs on Security

JUNE 4, 2019

AMCA has advised LabCorp that Social Security Numbers and insurance identification information are not stored or maintained for LabCorp consumers.” Many readers wrote in to say they’d never heard of First American, but it is the largest title insurance company in the United States.

Insurance 268

Insurance Security Data Privacy Access 268

The Last Watchdog

AUGUST 22, 2019

On one hand, threat actors have already begun exploiting fresh attack vectors, borne of this rising complexity, and, on the other, government authorities and industry standards bodies are insisting on compliance with increasingly cumbersome data-handling security rules.

Digital transformation 147

Digital transformation Compliance Risk Security 147

IBM Big Data Hub

DECEMBER 1, 2023

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.

Insurance 96

Insurance Digital transformation Customer Experience Cloud 96

The Last Watchdog

APRIL 8, 2024

Related: The ‘cyber’ case for D&O insurance Vanessa Pegueros knows this all too well. If the CISO wants to drive better compliance, then they talk about how compliance is key to enabling sales and how the customers are demanding compliance to do business with the company.

Compliance 210

Compliance Cybersecurity Risk Mining 210

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With cyber attacks amounting to a question of when and not if, cyber insurance becomes crucial for ensuring business continuity and mitigating the business impact of attacks – should they occur. Tue, 05/10/2022 - 05:43.

Insurance 77

Insurance Authentication Risk Ransomware 77

Data Protection Report

FEBRUARY 2, 2024

On January 17, 2024 the New York Department of Financial Services (“NYDFS”) published a Proposed Insurance Circular Letter (“Proposed Circular”) regarding the use of artificial intelligence systems (“AIS”) and external consumer data and information sources (“ECDIS”) in insurance underwriting and pricing. Actual Actuarial Validity.

Insurance 78

Insurance Artificial Intelligence Risk Compliance 78

Hanzo Learning Center

JUNE 28, 2022

Most people have heard of the Health Insurance Portability and Accountability Act (HIPAA), so it’s not surprising that companies dealing with digital health information will have to be HIPAA compliant. To do so, any protected health information (PHI) must be kept confidential, secure, and available when being stored or transmitted.

Archiving 98

Archiving Compliance Insurance Security 98

IG Guru

NOVEMBER 30, 2023

The post Cyber Security: Insurance Prices Level After Two Years of Brutal Increases via ENR first appeared on IG GURU. Check out the article here.

Insurance 96

Insurance Security Information governance Risk 96

Rocket Software

MARCH 14, 2022

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.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

OpenText Information Management

NOVEMBER 12, 2024

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.

Communications 52

Communications Insurance Archiving Marketing 52

Thales Cloud Protection & Licensing

FEBRUARY 3, 2025

You expect Personal Health Information (PHI) to be protected, thankfully due to HIPAA Compliance. Covered Entities: All entities accessing protected personal health information (PHI), including health plans, health insurance organizations, hospitals, clinics, pharmacies, physicians, and dentists, among others. What is HIPAA?

Encryption 62

Encryption Compliance Insurance Authentication 62

Data Matters

FEBRUARY 10, 2021

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 79

Insurance Financial Services Cybersecurity Risk 79

AIIM

JULY 22, 2021

For many businesses, content and data capture tools are highly sought out, particularly in the banking and insurance sectors. With so many different types of documents required to operate and adhere to compliances, the need for capturing data accurately and quickly, especially unstructured data, is ever growing.

Unstructured data 286

Unstructured data Information capture Insurance Compliance 286

Security Affairs

NOVEMBER 11, 2018

Group-IB and CryptoIns introduce the worlds first insurance against cyber threats for cryptocurrency exchanges. Compliance to Cybersecurity Requirements and False Claims Act. USB drives are primary vector for destructive threats to industrial facilities. IBM Watson will be used by NIST to assign CVSS scores to vulnerabilities.

Security 235

Security IoT Insurance Libraries 235

Security Affairs

SEPTEMBER 23, 2023

According to the notice published on the website of the OAG on August 07, 2023, exposed personal information includes names, addresses, social security information, health information, and health insurance information. The Dallas City Council has approved a budget of $8.5 million to mitigate the ransomware attack.

Ransomware 331

Ransomware Encryption Systems administration Cybersecurity 331

Security Affairs

NOVEMBER 20, 2023

Compliance and Legal Risks : In regulated industries, failure to maintain APIs in compliance with industry standards and legal requirements can result in legal and regulatory risks, including fines and legal actions. He holds (ISC)2’s SSCP along with CompTIA’s Pentest+ and Security+ certifications, a B.S.

Authentication 337

Authentication Risk Government Security 337

Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. I recently spoke with Neira Jones and Danna Bethlehem about how cybersecurity insurance can work to help an organization. regulations.

Insurance 71

Insurance Cybersecurity Ransomware Cleanup 71

OpenText Information Management

MARCH 8, 2023

As the frequency and scope of cyberattacks increases, so does the cost of cyber insurance. And the rise is dramatic.

Insurance 72

Insurance Compliance Security 72

Thales Cloud Protection & Licensing

MAY 26, 2023

CIAM in insurance: A unified, secure user experience with a single login madhav Fri, 05/26/2023 - 07:33 In recent years, the insurance industry has transformed from a singularly focused entity to a multi-brand or multi-service type of business. Adding value to the user experience (a top priority for 59% of insurers) 2.

Insurance 71

Insurance Digital transformation Security Authentication 71

The Last Watchdog

APRIL 3, 2019

This is, in large part, because the complexity of business networks continues to escalate at a time when compliance mandates are intensifying. Compliance matters. As complexity has intensified, so have compliance challenges. This goes beyond taking a check-the-box approach to compliance. Public trust must be maintained.

Digital transformation 140

Digital transformation Insurance Compliance Healthcare 140

Thales Cloud Protection & Licensing

OCTOBER 24, 2024

New Cybersecurity Rules for Financial Institutions in New York State Take Effect November 1, 2024 madhav Fri, 10/25/2024 - 06:09 The next major deadline for compliance with the updated cybersecurity rules from the New York State Department of Financial Services (NYDFS) is November 1, 2024.

Cybersecurity 62

Cybersecurity Financial Services Encryption Compliance 62

The Last Watchdog

APRIL 30, 2019

The participation led to the idea behind CyberSaint The company supplies a platform, called CyberStrong, that automatically manages risk and compliance assessments across many types of frameworks. That could be for insurance purposes. “As As with any insurance, cyber insurance really requires due care.” Wrenn said. “So

Cybersecurity 173

Cybersecurity Insurance Security Privacy 173

The Last Watchdog

OCTOBER 26, 2021

Addressing compliance, security. And there are two other intertwined drivers in play: compliance and security. These compliance pressures stem directly from the malicious hacking that continues to devastate individuals’ privacy and generally wreak havoc with data security. The stakes are sky high to get everything right.

Digital transformation 230

Digital transformation Compliance Encryption Authentication 230

Hunton Privacy

JULY 1, 2022

Since Carnival was licensed by the Department to sell insurance in NY State, it was treated as a covered entity under the Cybersecurity Regulation. Although Carnival had certified compliance with the Cybersecurity Regulation at the time of the incidents, NYDFS found that Carnival’s attestation of compliance was improper.

Cybersecurity 115

Cybersecurity Insurance Phishing Ransomware 115