Data Breach Today

MARCH 10, 2024

Committee Chairs Accuses UK of Favoring an 'Ostrich Strategy' For Ransomware The Conservative government of British Prime Minister Rishi Sunak says it won't champion a reinsurance plan for cyber insurance similar to flood insurance, telling a parliamentary committee it doesn't want to "damage competition."

Insurance 268

Insurance Ransomware Government IT 268

Data Breach Today

JANUARY 29, 2024

California Firm Said August Attack Affected Clients' Data A California insurance broker that handles employee benefits, workers' compensation and property liability is notifying more than 1.5

Insurance 261

Insurance Ransomware Security 261

Data Breach Today

AUGUST 20, 2021

Firm Says Singapore Unit Was Targeted Tokio Marine, a Japan-based property and casualty insurer, says its Tokio Marine Insurance Singapore unit was hit by a ransomware attack this week.

Insurance 345

Insurance Ransomware IT 345

Data Breach Today

JULY 31, 2023

RUSI Study Finds 'No Smoking Gun' Suggesting Insureds Pay Extortion More Readily Fears that cyber insurance coverage drives companies into paying ransomware demands more easily than not appear unfounded, concludes a British think tank study that also suggests insurers should do more to enact corporate discipline.

Insurance 246

Insurance Ransomware 246

Data Breach Today

NOVEMBER 16, 2023

Plaintiffs Say UnitedHealthcare Algorithm Rejects Coverage for Elderly Patients The estates of two deceased UnitedHealthcare Medicare Advantage policyholders allege in a proposed federal class action lawsuit filed this week that the insurance giant is using an AI tool to illegally deny necessary coverage for post-acute care, such as skilled nursing, (..)

Insurance 288

Insurance 288

Data Breach Today

SEPTEMBER 7, 2023

Also, Google Fitbit Faces Privacy Complaints From Schrems This week, the Swedish DPA fined an insurer $3 million for violating GDPR, a DDoS attack disrupted a German financial agency website, Google Fitbit faced privacy complaints from Schrems, Ragnar Locker published hacked hospital data, and Seville, Spain dealt with the aftermath of a ransomware (..)

Insurance 309

Insurance GDPR Privacy Ransomware 309

Data Breach Today

AUGUST 25, 2023

Also: Global Privacy Trends; Tornado Cash Founders Charged In the latest weekly update, ISMG editors discuss the shifting dynamics of cyber insurance, why APAC is approaching privacy regulations around emerging technologies, and how U.S. authorities charged the co-founders of cryptocurrency mixer Tornado Cash with money laundering.

Insurance 245

Insurance Privacy 245

Data Breach Today

MAY 14, 2024

Firms Back New Guidance for Victims From UK's National Cyber Security Centre A coalition of cyber insurance associations has pledged to back fresh government cybersecurity guidance designed to help victims avoid ever paying a ransom, as part of an ongoing push to reduce ransomware's profitability for criminals in part by improving organizations' resilience (..)

Insurance 189

Insurance Ransomware Cybersecurity Government 189

Data Breach Today

MAY 27, 2023

More than 100 Agencies, Health Entities Impacted by Data Breach Discovered in March An insurance provider that services many state Medicaid agencies and the Children's Health Insurance Program told regulators that hackers compromised the personal and protected health information of nearly 9 million patients in an incident discovered in March.

Insurance 223

Insurance Data breaches 223

Data Breach Today

JUNE 15, 2021

As the cyberthreat landscape grows exponentially more complicated, the insurance industry is trying to keep pace. Yet, many organizations still lack cybersecurity insurance. Lynn Peachey, director of business development at Arete Incident Response, breaks down the basics of these insurance policies.

Insurance 298

Insurance Cybersecurity IT 298

Data Breach Today

MARCH 24, 2021

Investigation Continues; Law Enforcement Notified Insurance provider CNA reported Tuesday it was victimized over the weekend by a "cybersecurity attack" that caused a network disruption and impacted certain systems, including corporate email.

Insurance 340

Insurance Cybersecurity IT 340

Data Breach Today

FEBRUARY 22, 2023

Hackers Demand Info on Victim's Cyber Insurance Policy to Negotiate Ransom Demand The newly relaunched HardBit 2.0 ransomware group is now demanding victims disclose details of their cyber insurance coverage before negotiating a ransom demand.

Insurance 251

Insurance Ransomware 251

Data Breach Today

JUNE 15, 2023

"Insurance is a tool," said Libby Benet, the global chief underwriting officer for AXA XL. When you buy an insurance policy, you are buying a network of professional crisis managers." In this episode of "Cybersecurity Insights," Benet discussed present and future cybersecurity insurance issues.

Insurance 147

Insurance Cybersecurity 147

Data Breach Today

MARCH 9, 2023

Target Does Not Appear to Have Deliberately Targeted Members of Congress A hacker has been selling data stolen from an online health insurance marketplace used by members of Congress and residents of Washington, D.C. The cause size and scope of the breach are still unknown.

Insurance 275

Insurance Marketing 275

Data Breach Today

JUNE 28, 2024

InfoSys McCamish Systems Earlier Alerted 57,000 Bank of America Clients of Breach Infosys McCamish Systems, an insurance software product and services vendor, is notifying nearly 6.1

Insurance 130

Insurance Ransomware Security 130

Data Breach Today

OCTOBER 17, 2022

Apparent Spate of Australian Data Breaches Continues Australian health insurer Medibank told investors it stopped a probable ransomware attack before the attack could steal data or maliciously encrypt its systems.

Insurance 246

Insurance Ransomware Data breaches Encryption 246

Data Breach Today

APRIL 21, 2022

Lynn Peachey, the director of business development at Arete Incident Response, says that insurance companies have made "a pretty quick turnaround in terms of trying to respond to the ransomware epidemic." She discusses the changes they are making, which include leveraging data quantification.

Insurance 261

Insurance Security Ransomware 261

Data Breach Today

NOVEMBER 8, 2022

Who is attempting to extort Australian health insurer Medibank, why did Medibank tell its attackers it wouldn't pay a ransom and will this deter future cyber extortionists? A Ransomware Group Has Given Medibank 24 Hours to Pay. But Medibank Says it Won't. Here are a few thoughts on the high cybercrime drama playing out.

Insurance 256

Insurance Ransomware IT 256

Data Breach Today

APRIL 15, 2022

Declining Loss Ratios Means Insurance Premium Increases Might Moderate in Late 2022 A surprising improvement in loss ratios for cyber insurance providers in 2021 means the rapid rise in premiums might at last subside later this year.

Insurance 279

Insurance 279

Data Breach Today

MARCH 27, 2020

Maze Gang Claims Insurer Is a Victim, Emsisoft Reports Switzerland-based global insurance firm Chubb acknowledges that it's investigating a "security incident." Meanwhile, the Maze ransomware gang is claiming Chubb is its latest victim, according to researchers at the security firm Emsisoft.

Insurance 293

Insurance Security Ransomware IT 293

Data Breach Today

JULY 29, 2021

Key Factors: Negotiating Lower Ransoms, Improving Recovery Cyber insurance provider Coalition Inc. says its clients' average claims for losses when they were hit by a ransomware attack totaled $184,000 in the first half of this year, down 45% compared to the second half of 2020.

Insurance 331

Insurance Ransomware IT 331

The Last Watchdog

JULY 27, 2023

New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyber insurance program with new MGA, Converge, acting as program administrator. Tom Kang, CEO, Converge, added, “We’re thrilled to partner with QBE North America given their experience and reputation in the cyber insurance market.

Insurance 188

Insurance Risk Retail Marketing 188

Data Breach Today

MARCH 18, 2021

Alleges Vendor Failed to Comply With Business Associate Agreement As the list of healthcare sector entities affected by the recent hacking of Accellion's File Transfer Appliance platform continues to grow, the technology vendor faces a lawsuit filed by one of its affected clients, health insurer Centene Corp.

Insurance 333

Insurance IT 333

Data Breach Today

AUGUST 11, 2022

Kelly Butler Says Underwriting Requirements Are Becoming More Strict Cyber insurance can defray costs associated with data breaches and ransomware attacks. But Kelly Butler of the advisory firm Marsh & McLennan says insurers are tightening their requirements for policies due to rising costs associated with increasingly severe incidents.

Insurance 223

Insurance Data breaches Ransomware 223

Data Breach Today

NOVEMBER 21, 2019

Lawsuit Claims Insurer Owes Retailer for Coverage of Card Replacement Costs Target has filed a lawsuit against its long-time insurer, ACE American Insurance Co., in an attempt to recoup money it spent to replace payment cards as part of settlements over the retailer's massive 2013 data breach.

Insurance 315

Insurance Data breaches Retail IT 315

Data Breach Today

MAY 24, 2021

GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office.

Insurance 246

Insurance Education Ransomware Marketing 246

Data Breach Today

MAY 17, 2021

Avaddon Ransomware Gang Claims Responsibility Asia Assistance, a subsidiary of Paris-based multinational insurance company AXA, was hit by a ransomware attack that affected its IT operations in Thailand, Malaysia, Hong Kong and the Philippines, the company reports.

Insurance 288

Insurance Ransomware IT 288

Data Breach Today

JANUARY 31, 2023

Increased Competition and Capital Suggest Softening Market, Says Marsh Executive Premiums for cyber insurance have climbed sharply along with global rates of ransomware. But signs of increased competition and capital inflows suggest the cyber insurance market may be softening, Marsh executive Sara Stephens told a U.K.

Insurance 130

Insurance Marketing Ransomware 130

Data Breach Today

MARCH 8, 2023

A French law requiring companies to report cyber incidents to authorities within 72 hours or lose their eligibility for cyber insurance reimbursement has practitioners scratching their heads. Should French Multinationals Report Breaches Outside France? Global companies with headquarters in France will have the most uncertainty, experts say.

Insurance 147

Insurance 147

Data Breach Today

APRIL 4, 2022

One Vendor Linked to Vast Majority of Connecticut Exchange's Incidents Access Health, Connecticut's health insurance exchange under the Affordable Care Act, experienced dozens of mostly small data breaches over about a 3 1/2-year period, and the vast majority involved one contractor, says an auditor report that recommends the exchange make improvements (..)

Insurance 241

Insurance Data breaches Access Security 241

Data Breach Today

SEPTEMBER 29, 2022

Cyber Insurers Limit Financial Exposure While Risk Grows The Department of Treasury and the Cybersecurity and Infrastructure Agency are soliciting comments on whether risks to critical infrastructure from a catastrophic cyber attack - and the concurrent potential for ruinous financial exposure by insurers - should lead to a new federal approach.

Insurance 130

Insurance Government Risk Cybersecurity 130

Data Breach Today

NOVEMBER 25, 2020

Dennis Toomey explains why the industry must turn not only to sophisticated tools and technologies, but also unite around a strategy based on collaboration - in order to tackle insurance fraud.

Insurance 246

Insurance 246

Data Breach Today

OCTOBER 14, 2022

Medibank Group Says No Evidence of Data Compromise Australian health insurer Medibank Group says it has found no evidence of data compromise following its Wednesday detection of unusual network activity. The company, which serves nearly 4 million Australians, restored access to its policy websites on Friday.

Insurance 147

Insurance Access IT 147

Data Breach Today

MARCH 7, 2023

Nick Schneider Shares How His Firm Can Help Clients Prepare for a Security Incident Arctic Wolf has expanded its security operations platform into threat intelligence, incident response and cyber insurance, says CEO Nick Schneider.

Insurance 147

Insurance Security IT 147

Data Breach Today

MAY 25, 2021

based insurance firm One Call says its systems were disrupted by a ransomware attack May 13 and it's still working to restore them. Local Newspaper Says DarkSide Gang Suspected to Be Involved The U.K.-based A local newspaper, citing unnamed sources, says the DarkSide gang is suspected of being involved.

Insurance 239

Insurance Ransomware IT 239

Data Breach Today

JANUARY 23, 2023

In this episode of "Cybersecurity Unplugged," David Derigiotis of insurtech Embroker discusses the complex world of cyber liability insurance, including the collapse of crypto exchange FTX, recent breaches, and improvements in the cyber insurance industry.

Insurance 130

Insurance Cybersecurity 130

Data Breach Today

MAY 28, 2021

Also: Debating the Issue of Banning Ransom Payments In this week's panel discussion, four editors at Information Security Media Group discuss cyber insurance, persistent ransomware attacks and whether ransom payments should be banned.

Insurance 240

Insurance Ransomware Information Security Security 240