Krebs on Security

MAY 16, 2020

A well-organized Nigerian crime ring is exploiting the COVID-19 crisis by committing large-scale fraud against multiple state unemployment insurance programs, with potential losses in the hundreds of millions of dollars, according to a new alert issued by the U.S. Secret Service. Chamber of Commerce. Rhode Island is even worse off, with 31.4

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Security Affairs

MARCH 12, 2024

The Postal Police has issued an alert to warn citizens against insurance scams using QR codes. The Postal Police has issued an alert to warn citizens against insurance scams using QR codes. Often, scam sites have very similar names to well-known insurance companies with the same logos, images or other distinctive elements.

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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. Download now.

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Data Matters

APRIL 10, 2024

The National Association of Insurance Commissioners (NAIC) held its Spring 2024 National Meeting (Spring Meeting) March 15 through 18, 2024. The post Regulatory Update: National Association of Insurance Commissioners Spring 2024 National Meeting appeared first on Data Matters Privacy Blog.

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Schneier on Security

JULY 1, 2021

Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals. Often, that’s paying the ransom. News article.

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IT Governance

AUGUST 23, 2022

Cyber liability insurance helps organisations cover the financial costs of a data breach. Without insurance, organisations spend £3.6 million on average recovering from security incidents. By purchasing cyber liability insurance, organisations gain the resources they need at a fraction of the cost.

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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.

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eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks. That’s a 29.1%

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Schneier on Security

MARCH 14, 2024

Some drivers may not realize that, if they turn on these features, the car companies then give information about how they drive to data brokers like LexisNexis [who then sell it to insurance companies].

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IT Governance

JULY 30, 2024

But as a reminder, here are some key facts about the CrowdStrike incident: CrowdStrike is a publicly listed security company, which provides security software to – among many other large organisations – Microsoft. The outage was caused by a bad security update rolled out by CrowdStrike. Learn more about the CIA triad here.)

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Data Matters

FEBRUARY 2, 2021

The National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law has been adopted in at least 11 states, with several others (including New York) having implemented either older or similar laws or administrative guidance. See State Legislative Brief, NAIC, June 2020.

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Thales Cloud Protection & Licensing

MAY 26, 2023

CIAM in insurance: A unified, secure user experience with a single login madhav Fri, 05/26/2023 - 07:33 In recent years, the insurance industry has transformed from a singularly focused entity to a multi-brand or multi-service type of business. Adding value to the user experience (a top priority for 59% of insurers) 2.

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The Guardian Data Protection

NOVEMBER 11, 2023

Observer investigation reveals UK Biobank opened its biomedical database to insurance firms despite pledge it would not do so Sensitive health information donated for medical research by half a million UK citizens has been shared with insurance companies despite a pledge that it would not be.

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IBM Big Data Hub

DECEMBER 1, 2023

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

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Security Affairs

APRIL 23, 2023

Non-profit health insurer Point32Health suffered a ransomware attack and has taken systems offline in response to the incident. Non-profit health insurer Point32Health has taken systems offline in response to a ransomware attack that took place on April 17. ” reads the statement published by the insurer.

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Data Protection Report

MARCH 21, 2023

The French Information and Digital Security Experts Club ( CESIN ) has estimated that 54% of French companies were subject to cyberattacks in 2021, [1] while France Assureurs has put cyberattack risks on top of all other risks for the sixth year in a row. [2] 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

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The Last Watchdog

JANUARY 20, 2020

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

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IT Governance

OCTOBER 15, 2020

Cyber threats are so numerous that it’s impossible to prevent security incidents altogether. 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?

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Data Breach Today

JANUARY 31, 2020

Coverage Required Because Attack Caused 'Physical Loss or Damage' A federal judge has ruled that an insurer providing a "business owner's insurance policy" to a company that sustained a ransomware attack and was forced to replace most of its IT infrastructure must pay for the damages the security incident caused.

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Data Matters

JANUARY 9, 2024

The National Association of Insurance Commissioners (NAIC) held its Fall 2023 National Meeting (Fall Meeting) from November 30 through December 4, 2023. The post Regulatory Update: National Association of Insurance Commissioners Fall 2023 National Meeting appeared first on Data Matters Privacy Blog.

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Krebs on Security

OCTOBER 30, 2024

“Affected insurance providers can contact us to prevent leaking of their own data and [remove it] from the sale,” RansomHub’s victim shaming blog announced on April 16. According to the HIPAA Journal, the biggest penalty imposed to date for a HIPPA violation was the paltry $16 million fine against the insurer Anthem Inc.

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IBM Big Data Hub

MAY 1, 2023

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Soon after, AI’s capabilities extended to Speech and Natural Language processing, such as with IBM Watson, and for Image Recognition, which is now ubiquitously used for unlocking phones and other biometric security.

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Security Affairs

APRIL 20, 2021

Car insurance provider Geico has suffered a data breach, attackers have stolen the driver’s licenses for policyholders for several weeks. Geico, the second-largest auto insurer in the U.S., Once discovered the security breach, Geico secured the website and launched an investigation into the incident to determine the root cause.

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IBM Big Data Hub

MARCH 25, 2024

According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well.

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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.

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Krebs on Security

MAY 24, 2019

The Web site for Fortune 500 real estate title insurance giant First American Financial Corp. based First American is a leading provider of title insurance and settlement services to the real estate and mortgage industries. First American Financial Corp. Image: Linkedin. Santa Ana, Calif.-based billion in 2018.

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Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

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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.

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Security Affairs

JULY 9, 2021

Insurance giant CNA notifies customers of a data breach after the Phoenix CryptoLocker ransomware attack suffered in March. US insurance giant CNA is notifying customers of a data breach after the ransomware attack that it suffered in March. Bloomberg was informed about the payment by two people familiar with the attack.

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Data Matters

SEPTEMBER 7, 2023

The National Association of Insurance Commissioners (NAIC) held its Summer 2023 National Meeting (Summer Meeting) from August 12–16, 2023. The post Regulatory Update: National Association of Insurance Commissioners Summer 2023 National Meeting appeared first on Data Matters Privacy Blog.

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Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With cyber attacks amounting to a question of when and not if, cyber insurance becomes crucial for ensuring business continuity and mitigating the business impact of attacks – should they occur. Tue, 05/10/2022 - 05:43.

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Data Breach Today

JUNE 26, 2019

Dominion National Says Recently Discovered Incident Dates Back to 2010 A dental and vision insurer's revelation that it recently discovered a 9-year-old data security incident offers an extreme example of the difficulty some organizations have in detecting data breaches.

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The Last Watchdog

SEPTEMBER 24, 2024

The stolen information included full names, Social Security numbers, mailing addresses, phone numbers, and email addresses of millions of U.S., Investigations are ongoing, and several class-action lawsuits have been filed, alleging that the company failed to implement sufficient security measures. Canadian, and British citizens.

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Schneier on Security

APRIL 26, 2024

Kashmir Hill has a really good article on how GM tricked its drivers into letting it spy on them—and then sold that data to insurance companies.

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Data Breach Today

FEBRUARY 13, 2024

InfoSys McCamish Says Incident Involved BoA's Deferred Compensation Plan Customers Bank of America is notifying more than 57,000 customers that their information, including Social Security numbers, was potentially compromised in a hacking incident last November at Atlanta, Georgia-based insurance software firm InfoSys McCamish.

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Security Affairs

SEPTEMBER 29, 2020

Gallagher (AJG) insurance giant disclosed a ransomware attack, the security breach took place on Saturday. Gallagher (AJG) global insurance brokerage firm confirmed that it was his with a ransomware attack on Saturday, September 26. US-based Arthur J. US-based Arthur J. “On September 26, 2020, Arthur J. The post Arthur J.

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Thales Cloud Protection & Licensing

MARCH 5, 2023

In the fragmented insurance landscape, let’s unify customer experience divya Mon, 03/06/2023 - 06:13 You may think of an insurance company as a singularly-focused entity, offering protection for one product. However, the insurance business reaches across a disparate range of consumer products. To add to the challenge, a.s.r.

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