Security Affairs

JANUARY 14, 2019

Zurich American Insurance Company is refusing to refund its client because consider the attack as “an act of war” that is not covered by its policy. According to the cyber security community, NotPetya is a cyber weapon develped by Russia to hit the Ukrainian government. SecurityAffairs – Mondelez, cyber insurance).

Insurance 274

Insurance Ransomware Sales Government 274

The Last Watchdog

DECEMBER 18, 2024

This shift is expected to place significant pressure on organizations that haven’t yet developed trusted data to manage risk effectively. To mitigate risks, businesses will invest in modern, privacy-enhancing technologies (PETs), such as trusted execution environments (TEEs) and fully homomorphic encryption (FHE).

Compliance 130

Compliance Cybersecurity Risk Privacy 130

Security Affairs

JUNE 14, 2024

In January 2025, European financial and insurance institutions, their business partners and providers, must comply with DORA. In January 2025, financial and insurance institutions in Europe and any organizations that do business with them must comply with the Digital Operation Resilience Act, also known as DORA.

Compliance 308

Compliance Insurance Risk Cloud 308

IT Governance

MAY 24, 2022

Organisations must always look for cost-effective ways to address the cyber security risks they face. With more than 1,200 publicly disclosed data breaches last year , and organisations spending almost £3 million on average responding to security incidents , effective risk management is a top priority. The benefits of cyber insurance.

Insurance 136

Insurance Data breaches GDPR Ransomware 136

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

JUNE 18, 2024

In some cases, attackers are even leveraging the threat of regulatory actions or causing cyber insurance policies to be rendered moot by reporting lapses in security on the part of the victim to regulators and insurers. In fact, the cost to victims from ransomware attacks is estimated to reach $265 billion (USD) annually by 2031.

Ransomware 351

Ransomware Insurance Cybersecurity B2B 351

Krebs on Security

JUNE 15, 2023

government agency in charge of improving the nation’s cybersecurity posture is ordering all federal agencies to take new measures to restrict access to Internet-exposed networking equipment. The directive comes amid a surge in attacks targeting previously unknown vulnerabilities in widely used security and networking appliances.

Risk 270

Risk Ransomware Cybersecurity Access 270

IT Governance

OCTOBER 15, 2020

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? What is cyber insurance? How does cyber insurance work? What does a cyber insurance policy cover? Who needs cyber insurance?

Insurance 122

Insurance Data breaches Risk Security 122

Schneier on Security

SEPTEMBER 10, 2019

Good paper on cybersecurity insurance: both the history and the promise for the future. From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present.

Insurance 97

Insurance Cybersecurity Risk Paper 97

IT Governance

AUGUST 23, 2022

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.

Insurance 122

Insurance Data breaches e-Delivery Risk 122

Collibra

JULY 2, 2024

But as most businesses recognize, innovation is nothing without the right governance to ensure that risks don’t get out of hand. AI governance is about increasing business value while retaining control As AI continues to permeate the fabric of life and work worldwide, so too does AI-based risk increase.

Unstructured data 104

Unstructured data Government Risk Metadata 104

eSecurity Planet

FEBRUARY 11, 2022

Risk management is a concept that has been around as long as companies have had assets to protect. The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. What is Cybersecurity Risk Management? Setting Up Your Risk Management System.

Risk 145

Risk Cybersecurity Encryption Access 145

Security Affairs

FEBRUARY 8, 2024

Cyber Insurance: US cyber insurance premiums soared by 50% in 2022, reaching $7.2 Insider Threats: Insider threats pose a significant risk to organizations, with 64% of cyber security incidents involving insiders, either through malicious intent or inadvertent actions. million, up 15% in three years. million per breach.

Security 353

Security Phishing IoT Ransomware 353

Security Affairs

OCTOBER 1, 2023

Immediately after detecting the intrusion, the company launched an investigation with the help of leading third-party cybersecurity experts and is also coordinating with its insurers. The investigation is still ongoing and aims at determining the scope of the incident. ” reads the article published by CNN.

Ransomware 359

Ransomware Insurance Cybersecurity Encryption 359

KnowBe4

MAY 22, 2023

Food for thought as discussed on May 18, 2023, an article posted in The Australian Insurance Council: Banning paying a ransom to cyber hackers is counter-productive where Andrew Hall, the Chief Executive of the Insurance Council of Australia (ICA), stated that “attempts to ban businesses from paying ransoms for cyber attacks risks eroding trust and (..)

Insurance 98

Insurance Risk Government Security awareness 98

Security Affairs

NOVEMBER 20, 2023

Organizations need to govern and control the API ecosystem, this governance is the role of API management. organizations need to govern and control the API ecosystem. This governance is the role of API management. Check out the OWASP Top Ten APIs for a good overview of the primary identified risks to APIs.

Authentication 338

Authentication Risk Government Security 338

IT Governance

JUNE 15, 2022

In an increasingly digital world, there are an escalating number of cyber security risks for business to address. IT Governance identified more than 1,200 publicly disclosed data breaches in 2021 , while another report found that security incidents cost almost £3 million on average. Poor patch management. Weak passwords.

Risk 144

Risk Security Passwords Phishing 144

Data Protection Report

AUGUST 29, 2022

On July 13, 2022, the Office of the Superintendent of Financial Institutions (OSFI) released its final Guideline B-13 (the Guideline), setting out technology and cyber risk management expectations for all federally regulated financial institutions (FRFIs), such as banks, insurance and trust companies. Read the full update here.

Risk 117

Risk Insurance Cybersecurity Government 117

IBM Big Data Hub

MAY 8, 2023

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. Technological risk—data confidentiality The chief technological risk is the matter of data confidentiality.

Insurance 68

Insurance Risk Artificial Intelligence Government 68

IT Governance

AUGUST 25, 2022

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.

Insurance 105

Insurance IT Government Risk 105

Security Affairs

SEPTEMBER 18, 2020

. “The defendants at one time possessed a target list of over 1,800 online accounts, including accounts belonging to organizations and companies involved in aerospace or satellite technology and international government organizations in Australia, Israel, Singapore, the United States, and the United Kingdom.”

Government 358

Government Insurance Phishing Security 358

Schneier on Security

JANUARY 25, 2022

The insurance company Ace American has to pay for the losses: On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute. Merck suffered US$1.4 Merck suffered US$1.4

Insurance 92

Insurance Risk Government IT 92

Security Affairs

MAY 13, 2021

The DarkSide group has publicly stated that they prefer to target organizations that can afford to pay large ransoms instead of hospitals, schools, non-profits, and governments.[ After assessing risks, if RDP is deemed operationally necessary, restrict the originating sources and require multi-factor authentication.

Ransomware 354

Ransomware Phishing Risk Encryption 354

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 88

Insurance Marketing Cybersecurity Risk 88

KnowBe4

JUNE 13, 2023

As government-sponsored and widespread vulnerability attacks continue to result in larger damages, cyber insurers are looking for opportunities to still meet demand without incurring risk.

Insurance 98

Insurance Risk Government Cybersecurity 98

IT Governance

OCTOBER 11, 2022

That’s a problem when cyber risks are constantly evolving, as is the way your organisation operates. It’s why organisations must manage the risks they face with continual evaluation, maintenance and revision. Managing cyber security risks requires a more intensive approach than simply implementing basic protections.

Risk 124

Risk GDPR Information Security Personal data 124

The Last Watchdog

SEPTEMBER 14, 2018

It’s easy to think of it as a problem the federal government must address or something that enterprises deal with, but cybersecurity has to be addressed closer to home, as well. His company supplies a co-managed SIEM service to mid-sized and large enterprises, including local government agencies. Here are key takeaways: Local risks.

Government 147

Government Digital transformation Mining Insurance 147

eSecurity Planet

NOVEMBER 5, 2021

Enterprise risk management software can provide risk monitoring, identification, analysis, assessment, and mitigation, all in one solution. . While a number of solutions focus on the operational and financial risks posed to enterprises, this article focuses on software vendors specializing in cybersecurity risk management.

Risk 121

Risk Compliance Cloud Access 121

eSecurity Planet

AUGUST 27, 2021

In a developing market, third-party risk management (TPRM) software and tools could be the answer to helping organizations fill the gap. This article looks at the top third-party risk management vendors and tools and offers a look into TPRM solutions and what buyers should consider before purchasing. Aravo TPRM.

Risk 131

Risk Compliance Marketing Cybersecurity 131

The Last Watchdog

JANUARY 30, 2019

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

Risk 147

Risk Financial Services Insurance Data breaches 147

Security Affairs

FEBRUARY 27, 2024

Optum Solutions is a subsidiary of UnitedHealth Group, a leading health insurance company in the United States. The Company has retained leading security experts, is working with law enforcement and notified customers, clients and certain government agencies.” ” reads the Reuters. healthcare organizations.

Ransomware 322

Ransomware Government Insurance Manufacturing 322

The Last Watchdog

FEBRUARY 25, 2019

based supplier of identity access management (IAM) systems, which recently announced a partnership with Omada, a Copenhagen-based provider of identity governance administration (IGA) solutions. Governance and attestation quickly became a very big deal. Compliance became a huge driver for governance and attestation,” Curcio said. “It

Access 169

Access Government Authentication Data breaches 169

Security Affairs

APRIL 8, 2020

The research firm revealed that many of the government IDs exposed in the data breach have since expired. The attachments used as lure appear to be sent by health and government agencies, they promise to provide information on the Coronavirus pandemic and the way to avoid the contagion. ” continues the notification.

Ransomware 332

Ransomware Data breaches Encryption Financial Services 332

IT Governance

JULY 30, 2024

Mitigating supply chain risk After widespread coverage, the CrowdStrike outage from 19 July 2024 hardly needs an introduction. According to Parametrix , an insurance company specialising in Cloud outages, cyber insurance policies likely cover up to 10–20% of losses only. of its share price.

Insurance 112

Insurance Risk Encryption Manufacturing 112

erwin

DECEMBER 9, 2024

Will the new creative, diverse and scalable data pipelines you are building also incorporate the AI governance guardrails needed to manage and limit your organizational risk? Tackle AI data readiness and governance with erwin. The post Why data observability is essential to AI governance appeared first on erwin Expert Blog.

Government 52

Government Metadata Sales Insurance 52

Security Affairs

APRIL 24, 2022

Patch them now!

Security 250

Security Phishing Ransomware Insurance 250

Security Affairs

JULY 18, 2019

The Small Business Cybersecurity Assistance Act may provide business owners with access to government-level tools to secure small business against attacks. can hope for at present and an encouraging sign that the problem is on the government’s radar. It’s as bipartisan a bill as the U.S. state and territory.

Cybersecurity 233

Cybersecurity Education Government Risk 233