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.

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Insurance Risk Retail Marketing 188

Data Breach Today

JUNE 7, 2019

Eddie Chang, Travelers Insurance, cyber insurance, Quest Diagnostics, Optum360, breach, Labcorp, BioReference, AMCA, American Medical Collections Agency, vendor risk management, application security,

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Risk Insurance Security 190

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.

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Insurance Ransomware Paper Marketing 133

Data Breach Today

AUGUST 2, 2021

Clients of Health Insurer, Consultancy Among Those Affected Several recent health data breaches involving vendors - including more reports related to the Accellion file transfer appliance hack - show that managing vendor security risks remains a difficult ongoing challenge in the healthcare sector.

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Insurance Data breaches Risk Security 317

The Last Watchdog

JULY 13, 2023

London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. Yet, boardroom focus on cyber risk appears to be diminishing. trillion by 2025, a 300% increase since 2015 1.

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Risk Insurance Energy and Utilities Marketing 189

Krebs on Security

JUNE 18, 2021

The SEC says First American derives nearly 92 percent of its revenue from its title insurance segment, earning $7.1 Title insurance protects homebuyers from the prospect of someone contesting their legitimacy as the new homeowner. Title insurance is not mandated by law, but most lenders require it as part of any mortgage transaction.

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Insurance Risk Financial Services Mining 336

Krebs on Security

OCTOBER 1, 2020

In addition, insurance providers often help facilitate the payments because the amount demanded ends up being less than what the insurer might have to pay to cover the cost of the affected business being sidelined for days or weeks at a time. jurisdiction) and making it a crime to transact with them.

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Ransomware Insurance Risk Government 363

Security Affairs

NOVEMBER 14, 2022

Are the directors of a company hit by a cyberattack liable for negligence in failing to take steps to limit the risk. As the risk of a cyberattack grows, it is pivotal to consider whether the directors of a company hit by a ransomware attack, for example, can bear any liability for negligence in failing to take steps to limit the risk.

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Insurance Risk Ransomware Encryption 355

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.

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Insurance Data breaches GDPR Ransomware 136

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.

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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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Insurance Ransomware Cybersecurity Marketing 121

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.

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Compliance Insurance Risk Cloud 309

The Last Watchdog

NOVEMBER 12, 2024

Unisys, for instance, was found to have framed cyber risks hypothetically even though its systems had already been breached, exfiltrating gigabytes of data. But the SEC’s latest actions underscore that failing to inform stakeholders about material risks and breaches is not an option. Want to stay out of trouble?

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Cybersecurity Risk Government Compliance 263

AIIM

JUNE 23, 2020

Automation can help banks lower loan processing costs, shorten cycle times, unlock visibility, and lower compliance risk. mortgage firm fundamentally transform the way mortgage insurance applications are processed, eliminating paper in favor of a completely digital workflow. But, what does this digital transformation look like?

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Insurance Digital transformation Paper Libraries 152

Data Breach Today

AUGUST 24, 2021

Insurers Have a Great Opportunity to Become Guardians of Customer Data Greater data-sharing opportunities and collaboration makes it easier to identify and understand good customers, not just the bad.

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Insurance Risk IT 130

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. The overall damages that insurance firms would probably have to cover reach over $80bn. SecurityAffairs – Mondelez, cyber insurance). Pierluigi Paganini.

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Insurance Ransomware Sales Government 274

Data Breach Today

JANUARY 26, 2023

Exclusions and Reinsurance Bolster Resiliency to Extreme Cyber Risk A periodic stress test assessment of U.K. insurers by the Bank of England found underwriters mostly withstood extreme cyber events.

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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 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.

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Insurance Data breaches e-Delivery Risk 122

Security Affairs

DECEMBER 28, 2022

The chief executive of insurance giant Zurich warns that cyber attacks, rather than natural catastrophes, will become uninsurable. Mario Greco, chief executive of insurer giant Zurich, has warned that cyber attacks will become soon “uninsurable.”.

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Insurance Risk Ransomware IT 246

The Last Watchdog

MAY 10, 2021

With RSA Conference 2021 technical sessions getting underway today, I sat down with Fred Kneip, CEO of CyberGRX , to hash over the notion that a lot of good could come from more systematic sharing of the risk profiles that large enterprises routinely compile with respect to their third-party contractors. Crowdsourcing risk profiles.

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Risk Insurance Access Security 195

Krebs on Security

JUNE 15, 2023

TechCrunch has been tracking the fallout from victim organizations , which range from banks and insurance providers to universities and healthcare entities. MOVEit parent Progress Software has since released security updates to address the weakness, but Cl0p claims to have already used it to compromise hundreds of victim organizations.

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Risk Ransomware Cybersecurity Access 273

Security Affairs

JUNE 10, 2021

Using patented Digital Risk Protection (DRP) technologies, the experts at Group-IB discovered over 70 groups of fraudsters that are only used in one of the fraudulent schemes, Classiscam, of which 36 are aimed at Europe. Insurance companies around the world are now suffering from phishing. million in one year .

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Phishing Retail Insurance Risk 327

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.

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Risk Cybersecurity Encryption Access 145

Data Breach Today

JULY 5, 2022

The 31st annual conference covered a wide range of topics including cybercrime, cyberwarfare, zero trust, supply chain risk, ransomware, OT security, cyber insurance and jobs. Get the Latest Insights from the Industry's Top Minds - All in One Place Welcome to ISMG's compendium of RSA Conference 2022.

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Insurance Ransomware Risk Access 244

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.

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Security Affairs

FEBRUARY 26, 2021

Inova is an actuarial consultancy company, which means they compile statistical analysis and calculate insurance risks and premiums. Document sent to the insurance company by the victim’s lawyer. Inova has been operating since 2012 and has handled thousands of cases since then. Sketch of the accident from the police report.

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Data breaches Insurance Paper Access 306

Data Breach Today

JANUARY 18, 2023

AI Tools are Tempting Productivity Aides for Clinicians, But What Are the Patient Data Risks? Healthcare workers should think twice about using AI tools such as ChatGPT as a productivity booster, privacy experts warned after a Florida doctor publicized on TikTok how he used it to write a letter to an insurer arguing for patient coverage.

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Risk Insurance Privacy IT 130

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. Continue reading.

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Insurance Data Privacy Privacy Risk 111

Security Affairs

SEPTEMBER 4, 2021

Scammers will likely target individuals and organizations that are eligible to receive large payouts from insurance companies to compensate for the damages caused by Hurricane Ida. Fraudsters also may target individuals receiving compensation from insurance companies.” ” reads the alert published by SEC.

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KnowBe4

NOVEMBER 17, 2022

The latest data shows that historically massive rate increases seen over the last few years are beginning to come down, primarily due to insurers having a solid understanding of the risk.

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Insurance Risk Security awareness Security 104

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.

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Insurance Data breaches Personal data GDPR 105

KnowBe4

SEPTEMBER 28, 2023

The latest cyber claims report from Coalition , a digital risk insurance provider, finds a 12% increase in cyber insurance claims in the first half of 2023 over the second half of 2022, due to surging attack frequency and severity.

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KnowBe4

FEBRUARY 1, 2024

New outlook data from cyber insurance underwriters shows where they think the biggest threats will be in 2024… and what they think organizations.

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Insurance Risk Ransomware Security 111

Security Affairs

OCTOBER 8, 2020

The availability of the data on the dark web could pose organizations to serious risk, threat actors could use this data to carry out multiple malicious attacks. Cybersecurity researchers from Cyble have found a threat actor sharing leaked data of Airlink International UAE for free on two platforms on the dark web.

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Insurance Cybersecurity Communications Risk 362

Security Affairs

OCTOBER 30, 2023

The versatility of hackers and the impact of the vulnerabilities they surface make them instrumental to how our customers anticipate and address risk.” 54% Financial savings estimated from avoiding risk, 51% Risk assessment (internal or external), 32% Agility and speed of security teams’ responsiveness, and 7% Discount on cyber insurance.

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Blockchain Risk Insurance Security 340

KnowBe4

DECEMBER 7, 2022

Recent attacks are helping cyber insurers better understand what security strategies need to be in place and how to price policies based on the risk those policies cover.

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Insurance Risk Security Security awareness 116

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).

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