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Why Cyber Insurance is Essential in 2022

IT Governance

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.

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Health insurer Point32Health suffered a ransomware attack

Security Affairs

Non-profit health insurer Point32Health suffered a ransomware attack and has taken systems offline in response to the incident. Non-profit health insurer Point32Health has taken systems offline in response to a ransomware attack that took place on April 17. ” reads the statement published by the insurer.

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U.S. Treasury Department Seeks Public Comment On Potential Federal Cyber Insurance Program

Data Matters

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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10 steps to combat the high cost of cyber insurance

OpenText Information Management

As the frequency and scope of cyberattacks increases, so does the cost of cyber insurance. And the rise is dramatic.

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Regulatory Update: NAIC Summer 2022 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2022 National Meeting (Summer Meeting) August 9–13, 2022. The Privacy Working Group expects to expose an initial draft of the white paper in advance of the Fall 2022 Meeting. 1. NAIC to Develop New Privacy Model Law. 26R — Bonds (SSAP No.

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Cyber Insurance and the Changing Global Risk Environment

Security Affairs

When security fails, cyber insurance can become crucial for ensuring continuity. According to a report by IDC , by the end of 2022, nearly 65% of the global GDP will be digitized — reliant on a digital system of some kind. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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Data Protection in Financial Services Week 2022

Data Matters

Join us from February 28 – March 3 for DPFS Week 2022 , a series of webinars looking at the impacts of data privacy across the financial sector. How to deal with and manage the key issues for 2022, such as AI, data governance, and international transfers. For questions or more information, please click here to contact us.