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UK Conservatives Say 'No' to Cyber Insurance Backstop

Data Breach Today

Committee Chairs Accuses UK of Favoring an 'Ostrich Strategy' For Ransomware The Conservative government of British Prime Minister Rishi Sunak says it won't champion a reinsurance plan for cyber insurance similar to flood insurance, telling a parliamentary committee it doesn't want to "damage competition."

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Cyber Insurance: Is Paying a Ransom Counter-Productive?

KnowBe4

Food for thought as discussed on May 18, 2023, an article posted in The Australian Insurance Council: Banning paying a ransom to cyber hackers is counter-productive where Andrew Hall, the Chief Executive of the Insurance Council of Australia (ICA), stated that “attempts to ban businesses from paying ransoms for cyber attacks risks eroding trust and (..)

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The Week in Cyber Security and Data Privacy: 16–22 October 2023

IT Governance

Publicly disclosed data breaches and cyber attacks City of Philadelphia discloses data breach after five months Date of breach: 24 May 2023 ( notice issued 20 October 2023). Breached organisation: BHI Energy, providing staffing solutions to the nuclear, fossil, wind, hydro and government energy markets.

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Global Data Breaches and Cyber Attacks in December 2023 – 2,241,916,765 Records Breached

IT Governance

IT Governance’s research found the following for December 2023: 1,351 publicly disclosed security incidents. Both these figures are a significant increase on what we found for November 2023 : 470 incidents and 519,111,354 records – 187% and 332% increases respectively. In November 2023, this was 227 incidents (48%).

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Data Breaches and Cyber Attacks in October 2023 – 867,072,315 Records Breached

IT Governance

IT Governance’s research has discovered the following for October 2023: 114 publicly disclosed security incidents. Our monthly blogs will provide analysis of the data we’ve collected and we’ll continue to discuss the biggest breaches on our 2023 overview of publicly disclosed data breaches and cyber attacks.

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New York Department of Financial Services Reaches $1 Million Dollar Settlement With First American Title Insurance in Data Breach Investigation

Hunton Privacy

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

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Top predictions for financial services in 2023

OpenText Information Management

As we move into 2023, FSIs will need to focus their increasing IT spend and direct their attention to delivering on the total experience for their customers and employees and on environmental, social and governance initiatives … The post Top predictions for financial services in 2023 appeared first on OpenText Blogs.