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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. In its lawsuit (PDF), National Bank says it had an insurance policy with Everest National Insurance Company for two types of coverage or “riders” to protect it against cybercrime losses. million total. THE LAWSUIT.

Insurance 197
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CrowdStrike: Lessons on the Importance of Contracts, Insurance and Business Continuity

IT Governance

According to Parametrix , an insurance company specialising in Cloud outages, cyber insurance policies likely cover up to 10–20% of losses only. As a direct result of that blockage, oil couldn’t reach its destination, manufacturers couldn’t get crucial parts, and so on. Then there’s insurance. of its share price.

Insurance 103
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California Governor Signs into Law Bills Updating the CPRA and Bills Addressing the Privacy and Security of Genetic and Medical Data, Among Others

Hunton Privacy

Additional bills, amending the California Confidentiality of Medical Information Act (“CMIA”) and the California Insurance Code, also were also signed into law. The bill uses the same definition of “genetic data” as provided for in AB-825. Medical Data: CMIA and Californian Insurance Code Amendment Bill.

Privacy 98
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MY TAKE: SMBs can do much more to repel ransomware, dilute disinformation campaigns

The Last Watchdog

Eventually, governments will address the risk by beefing up security and purchasing cyber insurance, which go hand in glove. Smaller organizations by definition are resources-strained. Small banks, credit unions, retailers, manufacturers and service professionals are in much the same boat as local governments.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. NAIC Continues its Evaluation of Insurers’ Use of Big Data . The NAIC is also considering insurers’ use of big data in underwriting life insurance products.

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The CCPA Ripple Effect: Nevada Passes Privacy Legislation

Data Matters

Existing Nevada law excludes from the definition of “operator” third parties that operate, host or manage an internet website or online service on behalf of its owner or that process information on behalf of the owner of an internet website or online service. Finally, SB220 defines “sale” much more narrowly than the CCPA.

Privacy 76
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CCPA Amendments Advance through California Assembly

HL Chronicle of Data Protection

AB 25 would modify the definition of “consumer” to exclude certain employment-related information. It would also refine the definition of “personal information” to remove the term “household” from the definition as well as the expansive formulation “is capable of being associated with.”.