SecureWorld News

JANUARY 31, 2024

Frequently, the liability associated with slip-and-falls is pushed up to the owner—and within that same upstream push, so goes privacy and data breach liability. All stakeholders, including insurers, need to understand whose cyber insurance policy responds to an incident.

Risk 85

Risk Cyber Insurance Insurance Data breaches 85

SC Magazine

JULY 13, 2021

million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 Malicious cyberattacks caused the majority of these security incidents, accounting for 73% of all breaches. More than 22.8 Another 20.7%

Data breaches 113

Data breaches Insurance Healthcare Education 113

SC Magazine

APRIL 19, 2021

AIG is one of the top cyber insurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.

Insurance 113

Insurance Cyber Insurance Ransomware InfoSec 113

CSO Magazine

AUGUST 16, 2022

The cost calculator for cyberattacks takes into account general data—like revenue, number of employees, vertical, headquarters location and the types of records stores—to arrive at an “annual loss expectancy” figure, according to vice president of AI and cyber insurance at Safe Security, Pankaj Goyal.

Risk 61

Risk Cyber Insurance Insurance Data breaches 61

Malwarebytes

JANUARY 26, 2022

Due to the evolving and growing impact of cybersecurity incidents there are some questions starting to arise about the way that insurance companies deal with the costs that are the results of such incidents. But cyber insurance comes in different flavors and sizes. An act of war? Lloyd’s of London.

Insurance 83

Insurance Cyber Insurance Ransomware Data breaches 83

Security Boulevard

MAY 12, 2022

Even with the advancements in network isolation, containment, and prevention at the endpoint, hackers will still bypass predictive controls to execute malware attacks, ransomware exploits, account takeovers.etc. What Is Not Covered Under Cyber Insurance? Below is a list of adaptive controls needed for cyber insurance.

Cyber Insurance 105

Cyber Insurance Insurance Marketing Firewall 105

Malwarebytes

JULY 10, 2022

So, your business has just suffered a data breach and it’s time to dig deep in your pockets to pay all the resulting expenses. Without cyber insurance , you can expect to pay a dizzying amount of cash. Here are four ways your business can save money on its insurance. How is cyber insurance priced?

Cyber Insurance 83

Cyber Insurance Insurance Data breaches Phishing 83

SC Magazine

FEBRUARY 8, 2021

The relationship between enterprises and insurers, like the cyber insurance market itself, is evolving. That’s quite the incentive for insurers to assert themselves in this market. Every sector has suffered breaches and no nation can claim to have been spared.”. A maturing model. billion in premium.

Insurance 126

Insurance Cyber Insurance Cybersecurity Government 126

Adam Levin

JULY 8, 2020

Hackers posing as Coincheck.com employees contacted the company’s customers and requested their account credentials. We are all weary of the endless cycle of hacks and data breaches and we’re increasingly blaming businesses that have been compromised rather than the hackers themselves.

Hacking 130

Hacking Retail Cyber Insurance Authentication 130

BH Consulting

JUNE 13, 2023

Target the human, swipe the cash: Verizon DBIR 2023 highlights crime trends Manage the human risk and mind your money: those are two key takeaways from Verizon’s 2023 Data Breach Investigations Report. It said the criminals often take over victims’ accounts and empty them of funds.

Social Engineering 52

Social Engineering Data breaches Scams DDOS 52

Centraleyes

MAY 6, 2024

Furthermore, “four areas: customer operations, marketing and sales, software engineering, and R&D” account for three-quarters of that value. Because of this, the insurance sector has a great opportunity to boost profitability by implementing artificial intelligence and innovations in its distribution and operational systems.

Insurance 52

Insurance Artificial Intelligence Cyber Insurance Marketing 52

Adam Levin

MARCH 16, 2020

billion, or roughly half, of the total losses in 2019 were attributed to generic email account compromise (EAC) complaints. Taking into account unknowables, we’re talking about a ballpark cost of roughly $75,000 per BEC-related complaint. That is exponentially more expensive than other cyber events.

Scams 130

Scams Identity Theft Phishing Accountability 130

Centraleyes

APRIL 8, 2024

High-profile data breaches have made data protection and privacy a hot subject. Hackers use more sophisticated methods to break network defenses and steal sensitive data on a large scale. Malicious actors target personal data because of its value. The consequences of data breaches go beyond financial impact.

Data privacy 52

Data privacy Unstructured Data Data breaches Government 52

Malwarebytes

SEPTEMBER 30, 2022

Take cyber insurance , for example. Cyber insurance can prevent local governments from having to pay huge out of pocket costs in the event that they’re hit with a cyberattack. Baltimore learned this the hard way. (An

Government 57

Government Cybersecurity Cyber Insurance Insurance 57

SC Magazine

JULY 2, 2021

An exterior view of the Anthem Health Insurance headquarters. About 80 million company records were accessed in one of the largest health care data breaches. Accordingly, you can expect to continue to see providers give fairly vague breach notifications.” ” A history of falling short.

Insurance 88

Insurance Cyber Insurance Data breaches Media 88

eSecurity Planet

AUGUST 9, 2022

GDPR, the EU’s flagship data privacy and “right to be forgotten” regulation, has made the stakes of a data breach higher than ever. Healthcare Data Privacy Laws. Health data and patient data in the U.S. The post Security Compliance & Data Privacy Regulations appeared first on eSecurityPlanet.

Data privacy 142

Data privacy Encryption Data breaches Insurance 142

SecureWorld News

NOVEMBER 22, 2021

In a BEC incident, you're almost certainly going to be handling a combination of: • wire transfers or other financial losses; • compromised sensitive information, such as employee or customer data; • potential email server and data breaches of unknown size; and • branding and reputation issues. BEC-IRP Section 2: Identification.

Scams 82

Scams Cybercrime Accountability Banking 82

Malwarebytes

JANUARY 15, 2023

There’s no word if any of the schools affected paid the ransom and had their data leaked anyway, or if the ransomware gang stuck to its word and “only” leaked in cases of non-payment. Are you aware of your legal data breach notification responsibilities? Keep your tools in good shape. Stay safe out there!

Ransomware 73

Ransomware Backups Education VPN 73

SecureWorld News

JANUARY 21, 2024

The costs of recovering from such incidents, especially for smaller organizations without cyber insurance, can be devastating. Employing simple best practices like using strong, unique passwords for each account, enabling two-factor authentication, and recognizing phishing attempts can significantly bolster an organization's defense.

Cybersecurity 92

Cybersecurity Backups Cyber threats Software 92

SC Magazine

MAY 28, 2021

Colonial Pipeline also heightened discussion about the influence of ransomware attacks on cyber insurance. Even before the incident, some insurers dropped coverage for ransomware payments, while others began to ratchet up cybersecurity standards for coverage in an effort to prevent an attack. .

Insurance 117

Insurance Government Ransomware Risk 117

Security Affairs

FEBRUARY 8, 2024

Phishing Attacks: Phishing is the top cyber attack, causing 90% of data breaches. Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 Data Breach Costs: The average global cost of a data breach in 2023 was $4.45 million per breach.

Social Engineering 124

Social Engineering Cyber Insurance Cyber Attacks IoT 124

Krebs on Security

JULY 24, 2018

The email allowed the intruders to install malware on the victim’s PC and to compromise a second computer at the bank that had access to the STAR Network , a system run by financial industry giant First Data that the bank uses to handle debit card transactions for customers. Between Jan. ” .” ”

Banking 190

Banking Insurance Computers and Electronics Cyber Insurance 190

Duo's Security Blog

JUNE 21, 2021

According to Verizon’s most recent Data Breach Incident Report , instances of advanced ransomware have doubled in the past year, alongside major upticks in phishing attacks and social engineering. With least privileged access, the user might not have had access to PII and critical data in the first place if their role didn’t need it.

Insurance 100

Insurance Cyber Insurance Data breaches Social Engineering 100

Cisco Security

JULY 11, 2022

From extortion to data breaches, ransomware is always evolving, and is becoming very lucrative with Ransomware-as-a-service kit making it easier to target organizations. In today’s climate of ever-increasing sophisticated cyber threats this won’t cut it. Sign up for a 30 day free trial and test drive a demo account.

Ransomware 127

Ransomware Education Cyber Insurance Insurance 127

eSecurity Planet

MARCH 17, 2023

It also helps organizations to organize and assess data for vulnerabilities and determine an appropriate response plan in the case of a data breach. In worst-case scenarios, these firms should cover your business if you’re impacted by a data breach that leaks sensitive information and leads to fines and legal fees.

Network Security 115

Network Security Penetration Testing Firewall Antivirus 115

Security Boulevard

JANUARY 18, 2024

This demand leads to the development of cybersecurity predictions which must take into account underlying drivers of the attackers, defenders, and technology where the battles will play out. Recovery from supply chain attacks will cost 3x-5x more as compared to data breaches. In 2024: 1.

Risk 115

Risk Cybersecurity CISO Technology 115

Security Boulevard

JUNE 27, 2022

A total of 94% of identity and security professionals said their identity program had been included as an area of investment in strategic initiatives in the past year related to cloud, Zero Trust, vendor management, digital transformation, and cyber insurance. Data Breach. Lax deprovisioning. Brooke Crothers.

Digital transformation 52

Digital transformation Cyber Insurance Authentication Accountability 52

Spinone

OCTOBER 13, 2020

In IBM’s Cost of a Data Breach Report 2019 cited the following: Lost business is the biggest contributor to data breach costs The average cost of lost business in 2019 was $1.42 In fact, one report shows that business email compromises are 23% of cyber insurance claims.

Ransomware 52

Ransomware Backups Data breaches Encryption 52

Jane Frankland

DECEMBER 7, 2023

It’s likely we’ll continue to witness a significant shift in the motivation behind prominent cyberattacks, as data sources indicate a resurgence in activities such as information theft, covert communication monitoring, and content manipulation from state sponsored attackers and cybercriminals. The first is by rule making.

Cybersecurity 130

Cybersecurity Cyber threats Insurance Artificial Intelligence 130

Adam Levin

MARCH 26, 2020

Cyber insurance is still evolving, and as such you can still get good deals even if your cybersecurity is not completely up to snuff. Who is accountable? At some point that will be a question that cyber insurers will think about 24/7, solutions evolving alongside challenges and underwriting calculations following close behind.

Cyber Insurance 211

Cyber Insurance Insurance Hacking Passwords 211

eSecurity Planet

JANUARY 11, 2022

Deduce is an identity-focused cybersecurity startup with two core solutions: Customer Alerts for protecting users and their data from account takeover and compromise, and Identity Insights for validating legitimate users and stopping fraud. Privafy aims to serve a valuable corner of the market – securing data-in-motion.

Cybersecurity 142

Cybersecurity Threat Detection Artificial Intelligence Risk 142