Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. This shift to digital technology has created a new class of digital risks that are constantly evolving and strike faster and often with more severity than traditional risks. However, not all risks are technology-related.

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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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Insurance Ransomware Paper Marketing 119

The Last Watchdog

JUNE 2, 2022

Third-Party Risk Management ( TPRM ) has been around since the mid-1990s – and has become something of an auditing nightmare. Related: A call to share risk assessments. This is because third-party risk has become a huge problem for enterprises in the digital age. Cyber risks profiling. based CyberGRX.

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Security Risk Digital transformation Insurance 266

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. million (about £1.5

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Insurance Data breaches GDPR Ransomware 133

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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Insurance Data breaches Risk Security 121

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.

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Risk Security Passwords Phishing 143

Krebs on Security

DECEMBER 12, 2018

Is it fair to judge an organization’s information security posture simply by looking at its Internet-facing assets for weaknesses commonly sought after and exploited by attackers, such as outdated software or accidentally exposed data and devices? the security posture of vendor partners). How useful is such a score?

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Security Energy and Utilities Risk Data breaches 223

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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Insurance Ransomware Risk Data science 127

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

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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Insurance Security Compliance Privacy 114

Krebs on Security

JULY 21, 2023

But one aspect of that vaunted list that hasn’t shifted much since is that very few of these companies list any security professionals within their top executive ranks. But organizations that do not offer this coverage to their security leaders are unlikely to list those positions in their highest ranks, Schreider said.

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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

Hunton Privacy

JUNE 9, 2022

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). Information Security Program Requirements. On May 27, 2022, Vermont Governor Phil Scott signed H.515

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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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Insurance Data breaches e-Delivery Risk 119

Krebs on Security

JUNE 15, 2023

The directive comes amid a surge in attacks targeting previously unknown vulnerabilities in widely used security and networking appliances. Barracuda was alerted to the exploitation of a zero-day in its products in mid-May, and two days later the company pushed a security update to address the flaw in all affected devices.

Risk 242

Risk Ransomware Cybersecurity Access 242

Krebs on Security

DECEMBER 18, 2018

Virtually all companies like to say they take their customers’ privacy and security seriously, make it a top priority, blah blah. That’s because very few of the world’s biggest companies list any security executives in their highest ranks. banks) would have this role in their executive leadership team.

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The Last Watchdog

APRIL 30, 2019

I had the chance at RSA 2019 to visit with George Wrenn, founder and CEO of CyberSaint Security , a cybersecurity software firm that plays directly in this space. This includes not just the NIST CSF, but also the newly minted NIST Risk Management Framework 2.0, That could be for insurance purposes. “As Wrenn said. “So

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Cybersecurity Insurance Security Privacy 173

Krebs on Security

APRIL 28, 2021

Bill Demirkapi , an independent security researcher who’s currently a sophomore at the Rochester Institute of Technology , said he discovered the data exposure while shopping around for student loan vendors online. Data security has always been, and always will be, our highest priority.”

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Insurance Access Authentication Security 363

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 97

The Last Watchdog

AUGUST 8, 2022

Add in an increasing focus on data becoming a crucial enterprise asset—as well as the introduction of countless database and analytical tools, digital twins, artificial intelligence, and machine learning—and we are dealing with unprecedented technical complexities and risk. But think of the risks. Access security challenges.

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Security Artificial Intelligence Risk Access 214

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

The Last Watchdog

MARCH 13, 2023

So how will this affect chief information security officers (CISOs) and security programs? Given the perennial skills and staffing shortage in security, it’s unlikely that CISOs will be asked to make deep budget or staffing cuts, yet they may not come out of this period unscathed. Demonstrate secure practices to customers.

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Security Insurance Cybersecurity Customer Experience 203

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 122

IT Governance

FEBRUARY 15, 2022

This is as true in the cyber security landscape as it is in any other. To help you understand what might be in store in 2022, we’ve collected nine forecasts from cyber security experts. Cyber insurance will become more popular and more comprehensive. Cyber insurance premiums will increase. But predictions are difficult.

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Security Insurance Authentication Passwords 142

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 108

The Last Watchdog

OCTOBER 29, 2018

The headlines immediately attempted to lay the blame, in large part, on the fact that Equifax’s chief information security officer was a music major and did not have a background in technology. The FTC considers that ‘reasonable security’ doesn’t mean ‘perfect security.’ Even the best security program is not bulletproof.

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Security Data Privacy Privacy Data breaches 164

The Last Watchdog

AUGUST 22, 2019

A core security challenge confronts just about every company today. While the benefits of DX are highly-touted , this shift has also spawned a whole new tier of unprecedented privacy and security challenges. The cloud is kind of dragging this movement along and DevOps and security are center stage, at the moment.”

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Digital transformation Compliance Risk Security 147

IT Governance

OCTOBER 11, 2022

One of the most common mistakes that organisations make when addressing cyber security is that they consider it a one-off event. 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.

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Risk GDPR Information Security Personal data 124

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.

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Risk Financial Services Insurance Cybersecurity 147

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 103

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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Insurance Marketing Cybersecurity Risk 88

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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Insurance IT Government Risk 102

eSecurity Planet

AUGUST 27, 2021

Cyberattacks caused by supply chain vulnerabilities mean organizations need a renewed perspective on how to address third-party security. In a developing market, third-party risk management (TPRM) software and tools could be the answer to helping organizations fill the gap. Best Third-Party Risk Management (TPRM) Tools.

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Risk Compliance Marketing Cybersecurity 130

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. As a result, their market would shrink.

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Financial Services Insurance Risk Agriculture 85

Krebs on Security

DECEMBER 8, 2022

Alex Holden is founder of Hold Security , a Milwaukee-based cybersecurity firm. The CLOP members said one tried-and-true method of infecting healthcare providers involved gathering healthcare insurance and payment data to use in submitting requests for a remote consultation on a patient who has cirrhosis of the liver. ”

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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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Insurance Digital transformation Customer Experience Cloud 96

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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Insurance Risk Ransomware Security 106