Security Boulevard

NOVEMBER 24, 2023

First published by HelpNetSecurity  — Matthew Rosenquist Cybersecurity insurance is a rapidly growing market, swelling from approximately $13B in 2022 to an estimated $84B in 2030 (26% CAGR), but insurers are struggling with quantifying the potential risks of offering this type of insurance. to 130.6%).

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Insurance Risk Cyber Insurance Cybersecurity 70

Security Boulevard

MARCH 15, 2023

With ransomware attacks, social engineering, and data breaches at an all-time high, terms like “cybersecurity” and “cyber insurance” are being thrown around in conversation more than ever before. But what, in practice, do they mean – and how are the two intertwined?

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Cyber Insurance Insurance Social Engineering Cybersecurity 97

SecureWorld News

JANUARY 11, 2024

Cybersecurity threats are a growing menace, wreaking havoc on businesses and individuals alike. In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents.

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Cyber Insurance Insurance Cyber Risk Data breaches 103

SecureWorld News

JUNE 5, 2024

Department of Health and Human Services (HHS) has stepped in to ensure patients are made aware if their sensitive data was compromised during February's massive cyberattack on health IT firm Change Healthcare. Patient safety is directly impacted by cybersecurity hygiene.

Healthcare 85

Healthcare Data breaches Identity Theft Insurance 85

CyberSecurity Insiders

JUNE 5, 2023

However, compromised data includes names, addresses and national insurance numbers of em-ployees in British Airways, Boots, Jaguar Land Rover (JLR) and such. The post Zellis Cybersecurity Incident causes BA and Boots employee info data breach appeared first on Cybersecurity Insiders.

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Data breaches Cybersecurity Insurance Ransomware 122

Schneier on Security

APRIL 12, 2018

Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. Companies like retailers, banks, and healthcare providers began seeking out cyberinsurance in the early 2000s, when states first passed data breach notification laws.

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Insurance Cybersecurity Data breaches Retail 121

Security Affairs

JANUARY 6, 2024

Law firm Orrick, Herrington & Sutcliffe disclosed a data breach that took place in early 2023, which impacted roughly 600,000 individuals. The law firm Orrick, Herrington & Sutcliffe, disclosed a data breach that impacted 638,000 individuals. ” reads the data breach notification.

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Data breaches Insurance Technology Government 108

Joseph Steinberg

AUGUST 5, 2021

One of the important concepts about which people must be aware when evaluating their cybersecurity postures and related liabilities, but which, for some reason, many folks seem to be unaware, is the difference between first-party risks and third-party risks. First-Party Risks And Coverage.

Insurance 141

Insurance Risk Data breaches Artificial Intelligence 141

Heimadal Security

JANUARY 31, 2024

Keenan data breach exposes sensitive data belonging to 1,509,616 individuals. The insurance broker company notified the impacted customers and employees on January 26th, 2024. According to the data breach notification, the hackers gained access to Keenan`s network on August 21st, 2023.

Data breaches 99

Data breaches Risk Insurance Cybersecurity 99

Heimadal Security

FEBRUARY 14, 2024

Hackers targeted two French healthcare providers and generated the largest data breach in French history. The French Data Protection Agency (CNIL) said both Viamedis and Almerys data breaches exposed the data of 33 million people.

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Data breaches Cyber Attacks Insurance Healthcare 88

CyberSecurity Insiders

MAY 1, 2023

This legal turn is supported by a study conducted by BakerHostetler, which confirms that lawsuits against companies that suffer data breaches are becoming more common and may increase by the end of this year. Now the big question: Is there any benefit in filing a lawsuit against the technology service provider for a data breach?

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Data breaches Cyber Insurance Insurance Technology 138

SecureWorld News

APRIL 17, 2023

When considering adding a cyber insurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyber insurance can help ensure compliance with these requirements. Let's break it down to the pros and cons.

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Cyber Insurance Insurance Risk CISO 98

Adam Levin

SEPTEMBER 7, 2020

With the average cost of a data breach exceeding three million dollars, cyber insurance has become a necessity for SMBs. The post SMBs and Cyber Insurance – Third Certainty #27 appeared first on Adam Levin. Find out more on the latest episode of Third Certainty with Adam Levin.

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Cyber Insurance Insurance Data breaches Cybersecurity 130

Malwarebytes

NOVEMBER 13, 2023

The US State of Maine says it has suffered a data breach impacting around 1.3 The type of stolen data varies from person to person, likely because the data breach affected multiple agencies in the State. The breach also impacted several other departments. million people. Watch out for phishing emails, too.

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Data breaches Identity Theft Insurance Education 115

SecureWorld News

APRIL 29, 2024

Kaiser Permanente, one of the largest not-for-profit providers of health care and coverage in the United States, is dealing with the fallout from a significant data breach that has affected more than 13 million individuals. The company is also reviewing and strengthening its cybersecurity measures.

Data breaches 85

Data breaches Healthcare Identity Theft Advertising 85

Security Affairs

FEBRUARY 28, 2024

Pharmaceutical giant Cencora suffered a cyber attack and threat actors stole data from its infrastructure. Pharmaceutical giant Cencora disclosed a data breach after it was the victim of a cyberattack. Optum Solutions is a subsidiary of UnitedHealth Group, a leading health insurance company in the United States.

Data breaches 95

Data breaches Healthcare Insurance Ransomware 95

Security Affairs

DECEMBER 9, 2023

Kentucky health system Norton Healthcare disclosed a data breach after it was a victim of a ransomware attack in May. Norton Healthcare disclosed a data breach after a ransomware attack that hit the organization on May 9, 2023. ” reads the notice of security incident.

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Healthcare Data breaches Ransomware Insurance 119

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 As the number and severity of data breaches continues to rise, organizations are recognizing that those costs are not theoretical. Cyber Insurance is Booming.

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Cyber Insurance Insurance Marketing Small Business 119

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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Cyber Insurance Insurance Data breaches Risk 222

Security Affairs

NOVEMBER 12, 2023

The State of Maine disclosed a data breach that impacted about 1.3 The Government organization disclosed a data breach that impacted about 1.3 Compromised data may include the Social Security number (SSN), date of birth, driver’s license/state identification number, and taxpayer identification number. million “U.S.-based

Data breaches 112

Data breaches Insurance Identity Theft Education 112

Security Boulevard

FEBRUARY 7, 2022

Cybersecurity insurance is an absolute necessity for any business operating in the modern world. However, increasing demand and threats of attacks have made insurance companies much more hesitant to offer claims. The post 5 Reasons Companies Are Denied Cybersecurity Insurance | ARIA appeared first on Security Boulevard.

Insurance 98

Insurance Cybersecurity Cyber Attacks Data breaches 98

Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. For many years, organizations had limited options for addressing data protection risks. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. The function of cybersecurity insurance.

Insurance 71

Insurance Cybersecurity Risk Data breaches 71

Heimadal Security

MAY 18, 2021

On May 12th, student health insurance carrier guard.me According to them, a flaw enabled a cybercriminal to obtain students’ private data such as email addresses, dates of birth, phone numbers, and even passwords. International Insurance is among the world’s largest […]. appeared first on Heimdal Security Blog.

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Insurance Data breaches Passwords Cybersecurity 58

Security Boulevard

OCTOBER 1, 2022

The list of companies that have experienced data breaches in 2022 continues to grow, including Meta, Samsung, Twilio, Twitter, Uber and more. If these companies – with their large, dedicated cybersecurity teams – are vulnerable, so is every other company. The post Preparing for Cyber Insurance?

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Cyber Insurance Insurance Data breaches Marketing 109

CyberSecurity Insiders

OCTOBER 21, 2022

Advocate Aurora Health(AAH), a medical services provider serving Wisconsin and Illinois populace, was hit by a data breach affecting over 3,000,000 patients. Moreover, the tool is being used by other hospitals in the country and so it could lead to more such data breaches in near time. million patients. .

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Data breaches Healthcare Hacking Data privacy 137

CyberSecurity Insiders

JULY 20, 2021

Campbell Conroy & O’Neil’s law firm has issued a public statement early today that it was a victim of a ransomware attack on February 27th,2021 and the incident could have led to a potential data breach that is under serious investigation. Wonder why the company was storing medical and health insurance data of its clients…?

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Data breaches Ransomware Identity Theft Insurance 144

Security Affairs

JANUARY 19, 2024

American global apparel and footwear company VF Corp revealed that the December data breach impacted 35.5 “VF will be seeking reimbursement of costs, expenses and losses stemming from the cyber incident by submitting claims to VF’s cybersecurity insurers. million customers. ” concludes the Form 8-K.

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Data breaches Retail Insurance Passwords 116

Security Affairs

NOVEMBER 23, 2023

Healthcare services provider Welltok disclosed a data breach that impacted nearly 8.5 It provides a platform that leverages data-driven insights to engage individuals in their health and well-being. The company disclosed a data breach that exposed the personal data of nearly 8.5 million patients in the U.S.

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Data breaches Insurance Healthcare Hacking 96

SC Magazine

FEBRUARY 8, 2021

Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.

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Insurance Cyber Insurance Cybersecurity Government 126

Security Affairs

NOVEMBER 23, 2023

American retailer and distributor of automotive parts and accessories AutoZone discloses a data breach after a MOVEit attack. AutoZone disclosed a data breach resulting from the hack of their MOVEit Transfer installation. million Teachers Insurance and Annuity Association of America 2.6 million Genworth 2.5

Data breaches 113

Data breaches Hacking Retail Identity Theft 113

CyberSecurity Insiders

NOVEMBER 10, 2022

Medibank data breach seems to have intensified as hackers have released 20 GB data containing names, addresses, and medical records that includes abortion details of female customers holding an insurance policy. The hackers are demanding $50 million to stop leaking the data to the web and are ready for negotiations.

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Data breaches Insurance Cybersecurity 91

SecureWorld News

OCTOBER 13, 2023

Securities and Exchange Commission (SEC) has initiated an investigation into Progress Software regarding the high-profile MOVEit data breach incident that unfolded earlier this year. An unnamed insurance company is also pursuing the recovery of expenses incurred due to the MOVEit vulnerability.

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Data breaches Software Insurance Cybercrime 100

Centraleyes

APRIL 9, 2024

According to IBM’s recently released “Cost of a Data Breach” statistics report, the average financial toll of a data breach has surged to an unprecedented $4.45 Regional Disparities in Data Breach Costs The United States emerges with a significantly higher average cost of $9.4

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Data breaches Cyber Insurance Insurance Ransomware 52

CyberSecurity Insiders

JANUARY 23, 2023

As the company failed to pay them the demanded ransom, the cyber crooks have leaked addresses, passports, and national insurance numbers and are threatening to leak more sensitive information in the coming weeks, if the victim cannot pay them the demanded ransom. Play Ransomware gang is suspected to be behind the incident.

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Identity Theft Data breaches Insurance Ransomware 127

Adam Levin

JUNE 25, 2018

South Carolina became the first state to pass a law requiring all insurance entities to create and maintain a cybersecurity and data breach response program. . The post South Carolina’s Insurance Cybersecurity Law Takes Effect in 2019 appeared first on Adam Levin. Read more about the law here.

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Insurance Cybersecurity Data breaches Government 100

CyberSecurity Insiders

JANUARY 4, 2023

Cybersecurity Insiders learnt from its sources that the attack took place last year, when hackers induced a file encrypting malware into the company’s network in March 2022. The post Ransomware attack on Wabtec leads to a data breach appeared first on Cybersecurity Insiders.

Data breaches 103

Data breaches Ransomware Identity Theft Insurance 103

IT Security Guru

FEBRUARY 28, 2023

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

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