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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.

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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. To find out more about what we can learn from the event, and protect ourselves from ‘Strike 2’, we talked to our information security manager, Adam Seamons. Then there’s insurance.

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MY TAKE: Massive Marriott breach continues seemingly endless run of successful hacks

The Last Watchdog

Office of Personnel Management , I’ve had insurance coverage from Premera Blue Cross and I’ve stayed at the Marriott Marquis in San Francisco. I have a Yahoo email account, I’ve shopped at Home Depot and Target , my father was in the military and had a security clearance, which included a dossier on his family, archived at the U.S.

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Cybersecurity Incident Highlights Questions about Cyber Insurance Coverage

Hunton Privacy

On October 8, 2014, the Department of Homeland Security reported that over the course of several months, the network of a large critical manufacturing company was compromised. The incident raises some issues for cyber insurance. That the incident occurred over several months suggests that trigger dates for cyber insurance be examined.

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Insurers’ digital focus is looking through the wrong ‘lens’

CGI

Insurers’ digital focus is looking through the wrong ‘lens’. Read any article on digital insurance and it seems to me that it is all about the insurers! In a more advanced state CGI’s experience in using HoloLens technology from Microsoft suggests to me that this is an area ripe for consumer focussed insurer innovation.

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Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats

The Security Ledger

In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat. Read the whole entry. »

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MY TAKE: Can Hollywood’s highly effective ‘source-code’ security tools help make IoT safe?

The Last Watchdog

Related: HBO hack spurs cyber insurance market. Irdeto’s suite of products helps set-top box manufacturers protect high-value content; its technology also is used by live sports broadcasters to deter hackers from siphoning off pay-for-view sporting events. Makes sense, though. Here are the big takeaways: Making it too expensive.

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