Cyber-Insurance Fail: Most Businesses Lack Ransomware Coverage
Dark Reading
AUGUST 11, 2022
Even among businesses with cyber insurance, they lack coverage for basic costs of many cyberattacks, according to a BlackBerry survey.
This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Dark Reading
AUGUST 11, 2022
Even among businesses with cyber insurance, they lack coverage for basic costs of many cyberattacks, according to a BlackBerry survey.
IT Governance
MAY 24, 2022
One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. These activities aren’t typically included in standard business insurance policies, which tend to only cover costs related to technical issues, such as corrupted hard drives and lost devices. The benefits of cyber insurance.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
AIIM
JULY 24, 2019
Earlier this year AIIM conducted a survey, in partnership with Parascript , called “The Leaders in Capture.” Indeed, 100% of the survey participants are actively involved with managing the planning, selection, configuration, or operation of a document capture. Survey Findings. FREE Infographic: Intelligent Automation Trends].
DXC Technology
JULY 14, 2020
That’s certainly true when it comes to insurance, as evidenced by the findings of our recent consumer survey. Based on responses from more than 2,000 individuals in the United States, the 2020 DXC Insurance Survey Report presents […].
Data Protection Report
MARCH 21, 2023
2] In this context, the Directorate General of the French Treasury has put forward a plan of action with a view to clarifying the cyber-insurance legal framework, better gauging cyber-risks, and enhancing companies’ awareness as regards cyber-risks. 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1
AIIM
FEBRUARY 22, 2018
In a recent AIIM survey, 85% of finance and insurance executives said that digital preservation was “important” or “very important” to their organizations – even higher than the 77% reported in other industries. Why is it particularly important in finance and insurance?
Krebs on Security
JULY 21, 2023
.” IANS , an organization geared toward CISOs/CSOs and their teams, surveyed more than 500 organizations last year and found roughly 65 percent of CISOs still report to a technical leader, such as the CTO or CIO: IANS found 46 percent of CISOs reported to a CIO, with 15 percent reporting directly to a CTO.
Dark Reading
OCTOBER 27, 2021
This year's survey features the highest percentage of cyber insurance buyers since the beginning of the survey 11 years ago.
Data Matters
FEBRUARY 10, 2021
2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. The Framework.
Rocket Software
MARCH 14, 2022
Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP. Digital Transformation is More Than Scanning Paper Documents.
Krebs on Security
DECEMBER 18, 2018
. “You need to make sure that your heads of security are on equal footing with the heads of tech, otherwise there is an inherent conflict at play,” said Anthony Belfiore , chief security officer for insurance company Aon PLC, in a Wall Street Journal story this month about the rising prominence of security leaders at major companies.
Hunton Privacy
FEBRUARY 25, 2021
As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.
Rocket Software
JUNE 16, 2022
In today’s digital world, the ability to reduce the risk of fraud is key for any industry, but especially so for health insurance providers and healthcare organizations. The post Mainframe automation and AI to detect risk of fraud in healthcare insurance: 4 key considerations appeared first on The Rocket Software Blog.
The Last Watchdog
OCTOBER 26, 2021
This, in turn, has triggered a surge in certificate outages: some two-thirds of 400 enterprises participating in a recent survey reported certificates expiring unexpectedly – with 25 percent experiencing five to six such outages in a recent six month period. And there are two other intertwined drivers in play: compliance and security.
Information Management Resources
JANUARY 29, 2020
Nearly half of insurers report issues with information bottlenecks, according to Willis Towers Watson survey of nearly 100 carriers.
IT Governance
SEPTEMBER 26, 2018
Two thirds of UK organisations are uninsured against the financial impact of a data breach, a survey has revealed. The Risk:Value 2018 Report by NTT Security discovered that only 29% of organisations have dedicated cyber insurance in place, despite 81% of senior executives touting insurance against data breaches as “vital”.
IT Governance
OCTOBER 4, 2021
Sophos’s most recent annual ransomware survey, The State of Ransomware 2021 , found that 37% of organisations surveyed in 2021 had been affected by ransomware in the previous year. Although this is a year-on-year reduction (51% of surveyed organisations were affected in 2020), the threat remains significant.
AIIM
MAY 5, 2020
For example, an oil and gas company will not have the same objectives as an insurance provider. A survey by Harvard Business Review found that 80 percent of leaders expected digital disruptions, and 84 percent of all business was estimated to be impacted by digitalization in 2020. 1) Clearly Defined Initiatives.
AIIM
AUGUST 19, 2021
Despite the proven operational improvements to be gain by going paperless, paper is still prevalent in too many core business processes today including loan applications, insurance claims, and customer onboarding.
IT Governance
FEBRUARY 8, 2018
The Cyber Security Breaches Survey 2018 from the Department for Digital, Culture, Media and Sport (DCMS) has revealed that only 38% of businesses and 44% of charities have heard of the General Data Protection Regulation (GDPR). This is a worrisome finding, as it is only a matter of months until the new Regulation is enforced. Key findings.
Collibra
SEPTEMBER 5, 2019
Dresner surveyed nearly 800 business intelligence (BI) professionals to examine customer preferences, customer investment and vendor performance in the data catalog space. 47% of Dresner’s survey respondents indicated that they have difficulty accessing data, but simply locating data is only part of the challenge.
Hunton Privacy
MARCH 19, 2014
The Department of Health and Human Services’ Office for Civil Rights (“OCR”) recently announced that it intends to survey up to 1,200 covered entities and business associates to determine their suitability for a more fulsome HIPAA compliance audit.
Reltio
JUNE 9, 2022
The insurance industry is facing unprecedented disruption. Insurance carriers have been called to transform customer experience, business offerings, and operations. As an insurer, your current business models are being challenged by new thinking, new competitors, and new ways of working.
eSecurity Planet
OCTOBER 18, 2022
The vast majority of cybersecurity decision makers – 91 percent, in fact – find it difficult to select security products due to unclear marketing, according to the results of a survey of 800 cybersecurity and IT decision makers released today by email security company Egress. Also read: eSecurity Planet’s 2022 Cybersecurity Product Awards.
Security Affairs
JUNE 10, 2021
Insurance companies around the world are now suffering from phishing. Over the past year, an average of over 100 phishing websites were created per insurer. Users received a link from friends, via social media or in messengers with the request to take part in a competition, a promotional offer or a survey.
eSecurity Planet
OCTOBER 5, 2021
Paying for internal assessments and penetration tests by a third party can provide fresh thinking and a level of assurance for stakeholders such as customers, the board of directors, and the insurance company that wrote our cyber insurance policy. Is the attack small enough that we do not need to file a cyber insurance claim?
Dark Reading
APRIL 27, 2023
Compliance acts as primary driver for obtaining cyber insurance, but budget constraints hinder efforts.
AIIM
AUGUST 2, 2019
According to AIIM research , 75% of the organizations we surveyed view digital transformation as “important” or “very important” to their organization. Despite the drive to go paperless, paper is still prevalent in many core business processes like loan applications and insurance claims.
eSecurity Planet
NOVEMBER 10, 2021
Those findings appear in The State of Microsegmentation in Network Security , a Byos report that details the results of a Q3 2021 survey of 100 cybersecurity leaders. Still, Katz said he was surprised by the survey results regarding top microsegmentation features by demand. Also read: Top Microsegmentation Solutions.
The Last Watchdog
MARCH 1, 2019
Some 27 percent of IT professionals who partook in a survey conducted by next-gen firewall supplier Imperva at RSA 2018 reported receiving more than 1 million security alerts daily. In many cases the tedious, first-level correlating of SIEM logs to sift out threats has moved beyond human capability. Sutton: Syncurity has several innovations.
Adam Levin
NOVEMBER 23, 2020
A BBB survey conducted in August found that the majority of these scammed consumers made purchases for which they never received products. “Of Don’t click that link… According to the BBB survey, emails wasn’t the most common way scammers pilfered people’s pockets, but it does still happen. On top of that, 80.5%
Privacy and Cybersecurity Law
MARCH 23, 2018
On March 14, 2018, IBM Security announced the results of a new global study on organizational cybersecurity readiness and resiliency entitled “The 2018 Cyber Resilient Organization.” 23% of respondents say they do not currently have a CISO or security leader. Is this confidence misplaced?
AIIM
APRIL 21, 2022
It doesn’t matter if you’re an insurance company, local government agency, or something else. In tapping into the AIIM end-user community, we found impressive examples of that philosophy at work in leading organizations like Farmers Insurance, Ogilvy, and UnitedHealth Group.
Adam Levin
JUNE 30, 2020
In the same survey, 35 percent thought CEOs should be fined for a cyber failure, and 30 percent wanted to see a CEO lose his or her right to run any company following a serious cyber event. Some of the survey’s findings suggest there’s some cognitive dissonance. Twelve thousand respondents in the U.S., What can CEOs do?
eSecurity Planet
OCTOBER 18, 2021
” Cyber Insurance No Longer Reliable. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. “This is a form of economic warfare.”
IT Governance
MARCH 20, 2024
The UK government’s Cyber Security Breaches Survey 2023 confirms this trend. Better yet, small UK organisations achieving certification could receive cyber insurance with a total liability limit of £25,000 – a substantially higher sum than the cost of implementation for most eligible organisations.
IT Governance
SEPTEMBER 15, 2021
A recent Field Effect Software survey found that 27% of respondents are looking to outsource some or all of their cyber security operations. You’ll also receive insurance cover for up to £500,000 – so you can be sure that no matter how severe the disruption, you’ll have the resources to respond and recover.
IT Governance
JUNE 18, 2018
One in five schools and colleges have fallen victim to cyber crime, according to research from the specialist insurer Ecclesiastical, yet the majority (74%) of educational establishments claim to be “fully prepared” to deal with such attacks. . Both exploit human error. . Cyber Essentials and Cyber Essentials Plus .
CGI
JULY 31, 2017
Insurers’ top trends and priorities: A look at CGI’s 2017 Voice of Our Clients findings (part 1). This year, we conducted in-person interviews with more than 1,300 client executives across 17 countries, including insurance business and IT executives. harini.kottees…. Mon, 07/31/2017 - 05:30. Change accelerators.
CGI
DECEMBER 7, 2017
Insurers’ top trends and priorities: A look at CGI’s 2017 Voice of Our Clients findings (part 1). This year, we conducted in-person interviews with more than 1,300 client executives across 17 countries, including insurance business and IT executives. p.butler@cgi.com. Thu, 12/07/2017 - 15:32. Change accelerators.
IT Governance
JUNE 9, 2022
The Cyber Security Breaches Survey 2022 found that 39% of UK businesses identified a cyber attack last year, while another report learned that organisations spend almost £3 million on average responding to security incidents. The service also comes with cyber insurance coverage of up to £500,000.
Information Management Resources
JULY 12, 2018
But only about 8% of insurers have fully automated some part of their processes, according to Capgemini survey.
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.
Information Management Resources
JANUARY 16, 2019
Novarica survey of more than 100 carriers identifies six digital techs on the rise in pilot and deployment activity.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content