Long Article on GM Spying on Its Cars’ Drivers
Schneier on Security
APRIL 26, 2024
Kashmir Hill has a really good article on how GM tricked its drivers into letting it spy on them—and then sold that data to insurance companies.
Cyber-insurance – 72 hours for the insured party to file a criminal complaint: GDPR’s false friend
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
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Insurance and Ransomware
Schneier on Security
JULY 1, 2021
Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals. News article. Often, that’s paying the ransom.
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Cyber Security: Insurance Prices Level After Two Years of Brutal Increases via ENR
IG Guru
NOVEMBER 30, 2023
Check out the article here. The post Cyber Security: Insurance Prices Level After Two Years of Brutal Increases via ENR first appeared on IG GURU.
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Cyber Insurance: Is Paying a Ransom Counter-Productive?
KnowBe4
MAY 22, 2023
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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France: Changes to insurability of cyber losses
DLA Piper Privacy Matters
MARCH 27, 2023
LOPMI introduces amendments to the insurability of losses and damages paid in response to cyber-attacks, including in relation to ransom payments – requiring that the payment of insurance compensation be conditional on the filing of a complaint, within a 72 hour time frame, to competent authorities.
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GUEST ESSAY: Skeptical about buying life insurance online? Here’s how to do it — securely
The Last Watchdog
AUGUST 24, 2020
Purchasing life insurance once meant going to an insurer’s office or booking an appointment with an insurance agent. Today’s generation is used to getting everything done fast and easy, so life insurance providers had to get with the times and cover all customers’ needs and requirements.
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Examples of IBM assisting insurance companies in implementing generative AI-based solutions
IBM Big Data Hub
DECEMBER 4, 2023
IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.
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[Arm and a Leg] Cyber Insurers Are Worried About The Long-tail Cost of Attacks
KnowBe4
APRIL 18, 2023
[BUDGET AMMO] James Rundle at the The Wall Street Journal today published a very interesting article about the long-term costs of cyber attacks and the fact that cyber insurers are getting more and more worried that their models do not cover these long-tail repercussions.
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CJEU Rules on Processing of Sensitive Data and Compensation Under the GDPR
Hunton Privacy
JANUARY 5, 2024
Background The case related to the processing of an incapacitated employee’s personal data, including health data, by the medical service provider (“MDK”) of a health insurance fund in Germany. Under applicable law, the MDK draws up reports on the capacity of individuals insured by the health insurance fund to work.
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The business value of operating core insurance solutions on the cloud
IBM Big Data Hub
JUNE 23, 2023
Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.
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New SEC Rules Add Challenges in Uncertain Cyber Insurance Market
KnowBe4
SEPTEMBER 21, 2023
He wrote an article for Bloomberg where he analyzed cyber risk management issues that companies should prioritize in response to new SEC reporting requirements for cybersecurity incidents and threats. [BUDGET AMMO] Jeremy King is a partner at Olshan Frome Wolosky.
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Cybersecurity Insurance
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. In my new book -- out in September -- I write: There are challenges to creating these new insurance products. There are two basic models for insurance. BoingBoing article.
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Unemployment Insurance Fraud and Identity Theft: Up Close and Personal
Lenny Zeltser
JULY 1, 2020
According to the New York Times article from May 2020 , the US Secret Service “had information suggesting that the scheme was coming from a well-organized Nigerian fraud ring.” I wrote this article to help other victims of this unemployment insurance fraud and identity theft scam.
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Hunton Privacy and Insurance Leaders Address Prevention and Insurability of Cyber Attacks
Hunton Privacy
NOVEMBER 27, 2017
On November 3, 2017, Securityroundtable.org published an article highlighting the vulnerabilities businesses face in a world of e-commerce and interconnectivity, and spotlighted a crisis-planning panel hosted by Hunton & Williams held on November 1. For a recap of the event, read the full Securityroundtable.org article.
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At a premium: how technology has revolutionised the insurance market
Micro Focus
FEBRUARY 1, 2019
Instead, the insurance market, an industry worth $1.2 TN, has morphed into a tech-fest where insurers spent. View Article. A new front has opened up on the digital battleground where enterprise technology is matched against the demand for customer innovation.
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[FastCompany] AI Battles Insurance Fraud
Hanzo Learning Center
JUNE 27, 2018
Hanzo was featured in FastCompany, discussing AI in the war on Insurance Fraud. Click below for the full article.
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DORA: 1 year to go! Key recommendations for Financial Services to improve cybersecurity and resilience in multi-clouds
Thales Cloud Protection & Licensing
JANUARY 16, 2024
As set out in its Article 2, DORA applies to the entire financial services sector. That includes banks, insurances, payment institutions, stock market, and many financial management firms (trading, crypt-assets, etc). CipherTrust Manager is a Key Management System, as required by Article 9. What is the scope of DORA?
FINLAND: Insurance against administrative fines announced as not permitted
DLA Piper Privacy Matters
OCTOBER 23, 2018
The Financial Supervisory Authority in Finland (FIN-FSA) has on 16 October 2018 published an interpretation that provision of insurance against administrative fines and penalty payments is contrary to good insurance practice and is therefore not permitted. Interpretation of ‘Good Insurance Practice‘. Possible implications.
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[BUDGET AMMO] Companies Are Ditching Cybersecurity Insurance as Premiums Rise, Coverage Shrinks
KnowBe4
AUGUST 24, 2022
Reporter Aaron Holmes just published an article that is an eye opener for sure. Here is s short extract and I recommend you reading the whole article, link is below. One of these is called '" The Information " which covers in-depth tech stories usually earlier than anywhere else.
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D.C. Circuit’s Article III Standing Decision Deepens Appellate Disagreement
Hunton Privacy
AUGUST 10, 2017
Circuit reversed the dismissal of a putative data breach class action against health insurer CareFirst, Attias v. 1, 2017), finding the risk of future injury was not too speculative to establish injury in fact under Article III. . CareFirst, Inc. , 16-7108, slip op.
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More articles about information management than any sane person should write
AIIM
MARCH 12, 2018
Over 100 eBooks, Guest articles, and Tip Sheets from the past year or so -- 107 of them to be exact. Getting Ahead of the Disruption Curve is Critical for Insurance Companies. A winning recipe: SaaS + Cloud Content Management + IaaS. Modern problems require modern solutions: Meeting the challenge of Big Content. Tip Sheets.
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Are Fake COVID Testing Sites Harvesting Data?
Schneier on Security
JANUARY 19, 2022
Doctors Clinical Lab, the lab Center for COVID Control uses to process tests, makes money by billing patients’ insurance companies or seeking reimbursement from the federal government for testing. Read the article for the messy details. The companies will keep making money for the rapid tests they collect, he said.
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Over-Retention of Personal Data
Data Protection Report
SEPTEMBER 23, 2021
The matter involved one of France’s largest insurers, SGAM AG2R LA MONDIALE, which was subject to an inspection by the French data protection authority (the CNIL), in 2019. The CNIL’s inspection included the insurer’s compliance with Section 5-1(e) of GDPR , which reads: Personal data shall be. (e) Perhaps the CNIL’s €1.75
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109 Insurers’ digital focus is looking through the wrong ‘lens’
CGI
FEBRUARY 28, 2017
Insurers’ digital focus is looking through the wrong ‘lens’. Read any article on digital insurance and it seems to me that it is all about the insurers! harini.kottees…. Tue, 02/28/2017 - 03:52.
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Security Affairs newsletter Round 453 by Pierluigi Paganini – INTERNATIONAL EDITION
Security Affairs
JANUARY 7, 2024
Every week the best security articles from Security Affairs are free for you in your email box. Experts spotted a new macOS Backdoor named SpectralBlur linked to North Korea Merck settles with insurers regarding a $1.4 A new round of the weekly SecurityAffairs newsletter arrived!
Exploring Cyber Insurance: What Companies Need to Know Now
Hunton Privacy
JUNE 16, 2014
As companies seek out ways to prevent these events and recoup losses associated with a data breach, cyber insurance is increasingly discussed as an effective method of recovery. In a recent article published in the Daily Journal , Hunton & Williams’ Insurance Coverage Counseling and Litigation attorney William T.
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Thousands of Humana customers have their medical data leaked online by threat actors
Security Affairs
JULY 21, 2021
Experts found a DB containing sensitive health insurance data belonging to customers of US insurance giant Humana. An SQL database containing what appears to be highly sensitive health insurance data of more than 6,000 patients has been leaked on a popular hacker forum. Drug prescription listings). What’s the impact?
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Cyber Insurance: Not Just for Data Protection
Hunton Privacy
MARCH 21, 2014
President Obama’s Executive Order 13636 on Improving Critical Infrastructure Cybersecurity identified “insurance liability considerations” as an incentive that might improve security. Over the course of the year since the Executive Order was issued, there has been an increase in the marketing of cyber insurance products.
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Subject Access Request: Germany’s highest court widens the scope of data subject access requests in Germany
Data Protection Report
JULY 28, 2021
The FCJ held that Article 15 of the EU General Data Protection Regulation (GDPR) has a broader scope than previously understood in Germany. The defendant was a life insurance company and the claimant their insured. The claimant appealed this decision to the FCJ.
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Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?
HL Chronicle of Data Protection
MAY 13, 2019
In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.
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40 Increased Focus on Cyber Insurance Post-Target Breach
Hunton Privacy
JANUARY 31, 2014
Recent media attention focused on the security breach that affected millions of Target customers has increased interest in cyber insurance to cover the financial losses associated with these types of events.
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Insurers’ role will be critical in improving cybersecurity standards
CGI
AUGUST 31, 2016
Insurers’ role will be critical in improving cybersecurity standards. Cyber insurance can be obtained to cover such costs as crisis management, media management, incident management, technical remediation, legal fees, call management, data subject notification, breach investigation and many other losses resulting from a cyber-attack.
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Insurance Coverage for Security Breach Lawsuits
Hunton Privacy
APRIL 11, 2013
Affected companies have looked to their traditional insurance coverage to defray costs associated with responding to these incidents and lawsuits, but standardized commercial general liability policies may not provide adequate coverage. In a recent article entitled That Was a Secret!
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UK Information Commissioner’s Office Fines Construction Company £4.4 Million for Breach of Security Obligations
Hunton Privacy
OCTOBER 25, 2022
million fine to Interserve Group Limited for failing to keep employee personal data secure, which violates Article 5(1)(f) and Article 32 of the EU General Data Protection Regulation (“GDPR”), during the period of March 2019 to December 2020. On October 24, 2022, the UK Information Commissioner’s Office (“ICO”) issued a £4.4
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Security Affairs newsletter Round 463 by Pierluigi Paganini – INTERNATIONAL EDITION
Security Affairs
MARCH 17, 2024
Every week the best security articles from Security Affairs are free for you in your email box. A new round of the weekly SecurityAffairs newsletter arrived! Enjoy a new round of the weekly SecurityAffairs newsletter, including the international press.
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Ransomware attack on Johnson Controls may have exposed sensitive DHS data
Security Affairs
OCTOBER 1, 2023
Immediately after detecting the intrusion, the company launched an investigation with the help of leading third-party cybersecurity experts and is also coordinating with its insurers. ” reads the article published by CNN. “We The investigation is still ongoing and aims at determining the scope of the incident.
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Experts: Breach at IT Outsourcing Giant Wipro
Krebs on Security
APRIL 15, 2019
According to this article in The Business Standard , enemy shares are so called because they were originally held by people who migrated to Pakistan or China and are not Indian citizens any longer. “The buyers were state-owned Life Insurance Corporation of India (LIC), New India Assurance and General Insurance Corporation. .
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Security Affairs newsletter Round 460 by Pierluigi Paganini – INTERNATIONAL EDITION
Security Affairs
FEBRUARY 25, 2024
Every week the best security articles from Security Affairs are free for you in your email box. A new round of the weekly SecurityAffairs newsletter arrived! Enjoy a new round of the weekly SecurityAffairs newsletter, including the international press.
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Security Affairs newsletter Round 408 by Pierluigi Paganini
Security Affairs
FEBRUARY 26, 2023
Every week the best security articles from Security Affairs are free for you in your email box. A new round of the weekly SecurityAffairs newsletter arrived! If you want to also receive for free the newsletter with the international press subscribe here.
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Hunton Discusses Critical Cyber Coverage Selection Issues
Hunton Privacy
APRIL 4, 2017
In March 2017, Syed Ahmad, a partner with Hunton & Williams LLP’s insurance practice, and Eileen Garczynski, partner at insurance brokerage Ames & Gough, co-authored an article, Protecting Company Assets with Cyber Liability Insurance , in Mealey’s Data Privacy Law Report. Read the full article.
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Anti-Ransomware Company Exagrid Pays $2.6 Million Ransom
Adam Levin
JUNE 4, 2021
Upon publication of this article, the Exagrid website still touted seven industry awards for work in the area of ransomware recovery solution, but this attack will harm its reputation, proving once again that no one is immune from the scourge of a well-targeted attack. The post Anti-Ransomware Company Exagrid Pays $2.6
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Voice Deepfake Scams CEO out of $243,000
Adam Levin
SEPTEMBER 4, 2019
According to a representative of Euler Hermes Group SA, the firm’s insurance company, the CEO was targeted by a new kind of scam that used AI-enhanced technology to create an audio deepfake of his employer’s voice. Read the Wall Street Journal article here (subscription required).
Dutch DPA Investigates the Data Processing Agreements of 30 Organizations
Hunton Privacy
JANUARY 18, 2019
Article 28 of the EU General Data Protection Regulation (the “GDPR”) requires data controllers enter into data processing agreements with data processors. The Dutch DPA indicated that the targeted organizations are mainly in energy, media and trade sectors. These agreements must specify how personal data should be processed and protected.
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