The Last Watchdog

JANUARY 20, 2020

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.

Insurance 222

Insurance Data breaches Cybersecurity Risk 222

Data Breach Today

MARCH 17, 2023

Also: Blackbaud Fined; DOJ Reproaches Federal Contractor for Lax Security In the latest weekly update, ISMG editors discuss how the Silicon Valley Bank crash will affect innovation in the cybersecurity space, why the SEC fined cloud provider Blackbaud $3 million for its "erroneous" breach details, and why the feds fined a web hosting firm in a kids' (..)

Cybersecurity 147

Cybersecurity Insurance Cloud Security 147

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

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”). Cybersecurity Event Investigation and Notification Requirements. Licensees must maintain records about these cybersecurity events for at least five years.

Insurance 107

Insurance Security Information Security Cybersecurity 107

Data Matters

OCTOBER 20, 2022

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.

Insurance 86

Insurance Marketing Cybersecurity Risk 86

Security Affairs

APRIL 23, 2023

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.

Insurance 94

Insurance Ransomware Cybersecurity Education 94

Schneier on Security

JULY 1, 2021

Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals. Often, that’s paying the ransom.

Insurance 119

Insurance Ransomware Paper Marketing 119

Dark Reading

SEPTEMBER 10, 2020

Whilst GDPR has put the spotlight on data privacy and cyber issues, there are other more prominent trends that are driving a greater take-up of cyber insurance, says Ben Maidment, Class Underwriter - Cyber, Physical & Technology at Brit Insurance.

Insurance 103

Insurance GDPR Data Privacy Cybersecurity 103

eSecurity Planet

OCTOBER 11, 2022

In the ever-evolving fight against data loss , data breaches, and data theft in the 21st century, organizations worldwide have turned to a number of cybersecurity solutions, services, and software in an attempt to keep their data safe and secure from threats. Moreover, what about other behavioral analytics methods in cybersecurity?

Analytics 125

Analytics Cybersecurity IT Data breaches 125

Hunton Privacy

NOVEMBER 8, 2023

On November 1, 2023, New York Governor Hochul announced that the New York State Department of Financial Services (“NYDFS”) amended its Cybersecurity Regulation applicable to covered financial institutions. The amended Cybersecurity Regulation will take effect in phases.

Cybersecurity 72

Cybersecurity IT Compliance Financial Services 72

Data Breach Today

OCTOBER 19, 2022

Australian Insurance Firm 'Working Urgently' to Verify Theft Claim Australian health insurer Medibank says it received a ransomware demand from hackers asserting to have stolen data during a cybersecurity incident the company detected on Oct.

Insurance 319

Insurance Ransomware Cybersecurity IT 319

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 128

Insurance Ransomware Risk Data science 128

The Last Watchdog

DECEMBER 12, 2023

A look back at the cybersecurity landscape in 2023 rings all-too familiar: cyber threats rapidly evolved and scaled up , just as they have, year-to-year, for the past 20 years. Eyal Benishti , CEO, IRONSCALES Benishti Generative AI (GenAI) reshaped cybersecurity in 2023. The comments we received were uniformly insightful and helpful.

Cybersecurity 258

Cybersecurity Phishing Authentication Analytics 258

Security Affairs

APRIL 22, 2022

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.

Insurance 96

Insurance Risk Cybersecurity Ransomware 96

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. And while organizations are taking steps to protect against cyber attacks, cybersecurity controls are not impenetrable. Cyber risk insurance covers the costs of recovering from a security breach, a virus, or a cyber-attack.

Insurance 77

Insurance Authentication Risk Ransomware 77

Data Matters

FEBRUARY 2, 2021

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. See State Legislative Brief, NAIC, June 2020.

Insurance 113

Insurance Security Compliance Privacy 113

KnowBe4

AUGUST 8, 2022

The WSJ reported Aug 8, 2020: It is becoming more expensive and difficult for companies to get or renew cyber insurance. cyber insurance policies increased by 79% from a year earlier. Insurers have made it harder to get or keep a policy, too. The price of U.S.

Insurance 100

Insurance IT Cybersecurity 100

Data Breach Today

OCTOBER 31, 2019

Beazley's Mark Singer Demystifies the Growing Industry It's one thing to plan for a cybersecurity incident, but quite another to have proper insurance coverage to prepare for such an event. Mark Singer of Beazley shares an overview of the cyber insurance myths and realities.

Insurance 113

Insurance Cybersecurity IT 113

The Last Watchdog

SEPTEMBER 24, 2024

Credit monitoring services provide ongoing tracking of credit reports for suspicious activity, and some even offer insurance for identity theft-related losses. NPD reported the exposure of over 2.7 billion records. The breach was initially caused by a third-party malicious actor who infiltrated NPD’s systems in December 2023.

Authentication 215

Authentication IT ROT Compliance 215

OpenText Information Management

OCTOBER 10, 2024

In the third annual OpenText™ Cybersecurity 2024 Global Ransomware Survey , we put a magnifying glass to these growing attack techniques and vectors. Almost three-quarters (71%) of respondents assess the cybersecurity practices of their software suppliers at least twice a year. Only 15% are not.

Ransomware 78

Ransomware Cybersecurity Security awareness Phishing 78

Krebs on Security

OCTOBER 30, 2024

“Affected insurance providers can contact us to prevent leaking of their own data and [remove it] from the sale,” RansomHub’s victim shaming blog announced on April 16. According to the HIPAA Journal, the biggest penalty imposed to date for a HIPPA violation was the paltry $16 million fine against the insurer Anthem Inc.

Insurance 250

Insurance Ransomware Data breaches Computer and Electronics 250

Hunton Privacy

JULY 1, 2022

Carnival”), the world’s largest cruise-ship operator, for violations of the Cybersecurity Regulation (23 NYCRR Part 500) in connection with four cybersecurity events between 2019 and 2021, including two ransomware events. . NYDFS also found that Carnival had failed to implement basic protocols to prevent data breaches.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

eSecurity Planet

MAY 30, 2024

Table of Contents Toggle Recent Healthcare Attacks & Breaches 5 Key Cybersecurity Management Lessons to Learn Bottom Line: Learn Healthcare’s Lessons Before Suffering Pain Recent Healthcare Attacks & Breaches Large breaches affected over 88 million individuals in the USA in 2023, a 60% increase from 2022. Ascension lost $2.66

Cybersecurity 123

Cybersecurity Ransomware Data breaches Risk 123

Security Affairs

SEPTEMBER 29, 2020

Gallagher (AJG) insurance giant disclosed a ransomware attack, the security breach took place on Saturday. Gallagher (AJG) global insurance brokerage firm confirmed that it was his with a ransomware attack on Saturday, September 26. Gallagher (AJG) insurance giant discloses ransomware attack appeared first on Security Affairs.

Insurance 145

Insurance Ransomware Data breaches Cybersecurity 145

Hunton Privacy

DECEMBER 4, 2023

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

Financial Services 64

Financial Services Insurance Data breaches Cybersecurity 64

Security Affairs

JULY 9, 2021

Insurance giant CNA notifies customers of a data breach after the Phoenix CryptoLocker ransomware attack suffered in March. US insurance giant CNA is notifying customers of a data breach after the ransomware attack that it suffered in March. Bloomberg was informed about the payment by two people familiar with the attack.

Data breaches 145

Data breaches Insurance Ransomware Encryption 145

Dark Reading

SEPTEMBER 21, 2022

After one company suffered a breach that could have been headed off by the MFA it claimed to have, insurers are looking to confirm claimed cybersecurity measures.

Insurance 74

Insurance Cybersecurity Security IT 74

eSecurity Planet

FEBRUARY 11, 2022

The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. This article looks at cybersecurity risk management, how to establish a risk management system, and best practices for building resilience. What is Cybersecurity Risk Management?

Risk 145

Risk Cybersecurity Encryption Access 145

Schneier on Security

APRIL 12, 2018

Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. In my new book -- out in September -- I write: There are challenges to creating these new insurance products. There are two basic models for insurance.

Insurance 52

Insurance Cybersecurity Data breaches Retail 52

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 77

Insurance Financial Services Cybersecurity Risk 77

eSecurity Planet

JUNE 7, 2022

As the demand for robust security defense grows by the day, the market for cybersecurity technology has exploded, as well as the number of available solutions. Here are our picks for the top 20 cybersecurity software vendors plus 10 honorable mentions – with the caveat that at least a couple of those 30 companies are likely to merge.

Cybersecurity 127

Cybersecurity Encryption Cloud Insurance 127

Data Breach Today

OCTOBER 6, 2022

UK Insurance Marketplace Gauging Best Options for Reconnecting Systems Put Offline Lloyd's of London is probing a possible cybersecurity incident that led it to yank some systems offline. Details are scarce at the moment, including whether the incident is malicious or involves ransomware and who may have instigated the incident.

Insurance 246

Insurance Ransomware Cybersecurity IT 246

IBM Big Data Hub

DECEMBER 4, 2023

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

Insurance 53

Insurance Digital transformation Compliance Cloud 53

Data Breach Today

MAY 17, 2023

Hackers Are Targeting Ukrainian Insurance Companies for Their Personal Information Ukraine's top cybersecurity agency says Russian hackers took a sudden interest in obtaining personal data and mounted successful attacks against more than one-third of the country's largest insurers.

Personal data 147

Personal data Insurance Sales Cybersecurity 147

DLA Piper Privacy Matters

MARCH 27, 2023

LOPMI introduces amendments to the insurability of losses and damages paid in response to cyber-attacks, including in relation to ransom payments – requiring that the payment of insurance compensation be conditional on the filing of a complaint, within a 72 hour time frame, to competent authorities.

Insurance 52

Insurance Risk Ransomware Cybersecurity 52

Hunton Privacy

FEBRUARY 25, 2021

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.

Insurance 70

Insurance Cybersecurity Risk Education 70

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