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Episode 158: How NotPetya has Insurers grappling with Systemic Cyber Risk

The Security Ledger

We talk to Bruce McDonnell of the East West Institute about how insurers are responding. Related Stories Episode 155: Disinformation is a Cyber Weapon and APTs warm to Mobile Malware Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats NotPetya Horror Story Highlights Need for Holistic Security.

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New RA Group ransomware gang is the latest group using leaked Babuk source code

Security Affairs

Compromised organizations operate in different business verticals, including manufacturing, wealth management, insurance providers, and pharmaceuticals. The researchers noticed that the path contains the same mutex name as the Babuk ransomware, a circumstance that suggests the malware borrows Babuk’s leaked source code.

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The hidden threats facing your intellectual property

IT Governance

For life sciences and pharmaceutical companies, this includes data on the development and testing of new therapies and details of how therapies are manufactured. The information affected is said to have included names, date of birth, nationalities and insurance membership numbers. The risk of losing your IP.

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Supreme Court Strikes Down Vermont Prescriber Privacy Law

Hunton Privacy

Vermont’s law was intended to limit the process of “detailing” whereby pharmaceutical manufacturers use prescriber-identifiable information to “ascertain which doctors are likely to be interested in a particular drug and how best to present a particular sales message.”

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How data, automation and AI are transforming Business Process Outsourcing into a competitive advantage

IBM Big Data Hub

In the case of insurance giant Generali, for example, IBM Consulting rolled out two new AI assistants in France—one that helped upskill employees and another that interfaced directly with customers. ” One car manufacturer, for example, opened up a conversation by asking about an upgrade to its data servers.

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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 most valuable AI use cases for business

IBM Big Data Hub

Automotive With applications of AI, automotive manufacturers are able to more effectively predict and adjust production to respond to changes in supply and demand. Insurance With AI, the insurance industry can virtually eliminate the need for manual rate calculations or payments and can simplify processing claims and appraisals.