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Cybersecurity Insurance Not Paying for NotPetya Losses

Schneier on Security

This will complicate things: To complicate matters, having cyber insurance might not cover everyone's losses. Zurich American Insurance Company refused to pay out a $100 million claim from Mondelez, saying that since the U.S.

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Security Affairs newsletter Round 460 by Pierluigi Paganini – INTERNATIONAL EDITION

Security Affairs

Iran Crisis Russia-Aligned TAG-70 Targets European Government and Military Mail Servers in New Espionage Campaign U.S.

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NEW TECH: DataLocker introduces encrypted flash drive — with key pad

The Last Watchdog

A chance meeting – in an elevator, no less – led to Kim veering over to the cybersecurity industry. DataLocker honed its patented approach to manufacturing encrypted portable drives and landed some key military and government clients early on; the company has continued branching out ever since. LW: Makes sense.

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China: Navigating China episode 18: Increased scrutiny over connected car and automobile industry data from Chinese regulators, including push towards data localisation

DLA Piper Privacy Matters

Increased scrutiny over connected car and automobile industry data from Chinese regulators, including push towards data localisation. China is a leading marketing for connected and autonomous vehicles, and use and analytics of connected vehicle data has been encouraged by Chinese Government support of big data and AI technology.

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New Connecticut Breach Notification Requirements and Cybersecurity Safe Harbor Effective October 2021

Hunton Privacy

The newly passed laws modify Connecticut’s existing breach notification requirements and establish a safe harbor for businesses that create and maintain a written cybersecurity program that complies with applicable state or federal law or industry-recognized security frameworks. New Breach Notification Requirements (HB 5310).

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White House Releases National Cybersecurity Strategy

Hunton Privacy

The Strategy marks the culmination of a monthslong process coordinated by the Office of the National Cyber Director (“ONCD”), which serves as a principal advisor to President Biden on cybersecurity policy and strategy, and cybersecurity engagement with industry and international stakeholders.

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A Cyber Insurance Backstop

Schneier on Security

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.