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Target Sues Insurer Over 2013 Data Breach Costs

Data Breach Today

Lawsuit Claims Insurer Owes Retailer for Coverage of Card Replacement Costs Target has filed a lawsuit against its long-time insurer, ACE American Insurance Co., in an attempt to recoup money it spent to replace payment cards as part of settlements over the retailer's massive 2013 data breach.

Insurance 335
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Who Stole 3.6M Tax Records from South Carolina?

Krebs on Security

As it happens, Rescator’s criminal hacking crew was directly responsible for the 2013 breach at Target and the 2014 hack of Home Depot. According to a 2013 report from the Treasury Inspector General’s office, the IRS issued nearly $4 billion in bogus tax refunds in 2012, and more than $5.8 billion in 2013.

Sales 223
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First American Financial Pays Farcical $500K Fine

Krebs on Security

The SEC says First American derives nearly 92 percent of its revenue from its title insurance segment, earning $7.1 Title insurance protects homebuyers from the prospect of someone contesting their legitimacy as the new homeowner. Title insurance is not mandated by law, but most lenders require it as part of any mortgage transaction.

Insurance 272
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New Payment Technologies Should Reduce Demand for Cyber Insurance

Hunton Privacy

Hunton & Williams Insurance Litigation & Counseling partner Lon Berk reports: As the demand for cyber insurance has skyrocketed, so too has the cost. One broker estimates that sales in 2014 will double from the $1 billion premium collected in 2013. As these payment technologies become prevalent in the U.S.,

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Puerto Rico Health Insurer Reports Record Fine Following PHI Breach Incident

Hunton Privacy

Securities and Exchange Commission that its health insurance subsidiary, Triple-S Salud, Inc. Triple S”), which is Puerto Rico’s largest health insurer, will be fined $6.8 million for a data breach that occurred in September 2013. Triple-S Management Corporation reported in the 8-K it recently filed with the U.S.

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

IT Governance

Another small firm suffers a serious ransomware attack: Cadre Services gets mauled by AlphV Date of breach: 19 September 2013 (AlphV uploaded first part of data to its website on 19 October 2023). Breached organisation: BHI Energy, providing staffing solutions to the nuclear, fossil, wind, hydro and government energy markets.

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FDIC, FRB and OCC Issue Interagency Guidance on Third-Party Relationships

Hunton Privacy

On June 6, 2023, the Federal Deposit Insurance Corporation (“FDIC”), the Board of Governors of the Federal Reserve System (“FRB”) and the Office of the Comptroller of the Currency (“OCC”) issued their final Interagency Guidance on Third-Party Relationships (“Guidance”).

Risk 64