article thumbnail

GUEST ESSAY: Cyber insurance 101 — for any business operating in today’s digital environment

The Last Watchdog

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

Insurance 222
article thumbnail

Arthur J. Gallagher (AJG) insurance giant discloses ransomware attack

Security Affairs

Gallagher (AJG) insurance giant disclosed a ransomware attack, the security breach took place on Saturday. Gallagher (AJG) global insurance brokerage firm confirmed that it was his with a ransomware attack on Saturday, September 26. Copyright (C) 2014-2015 Media.net Advertising FZ-LLC All Rights Reserved -->. US-based Arthur J.

Insurance 138
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

American Insurance firm State Farm victim of credential stuffing attacks

Security Affairs

The American group of insurance and financial services companies State Farm disclosed a credential stuffing attack it has suffered in July. The American group of insurance and financial services companies State Farm revealed that it was the victim of a credential stuffing attack it has suffered in July. Pierluigi Paganini.

article thumbnail

The FCC imposes $200 million in fines on four US carriers for unlawfully sharing user location data

Security Affairs

.” The FCC’s Enforcement Bureau launched an investigation after Missouri Sheriff Cory Hutcheson misused a “location-finding service” provided by Securus, a communications service provider for correctional facilities, to access the location data of wireless carrier customers without their consent from 2014 to 2017.

article thumbnail

NY Charges First American Financial for Massive Data Leak

Krebs on Security

In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. based First American [ NYSE:FAF ] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. It employs some 18,000 people and brought in $6.2 billion in 2019.

Insurance 299
article thumbnail

Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges

Security Affairs

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?

article thumbnail

University of Utah pays a $457,000 ransom to ransomware gang

Security Affairs

University of Utah officials explained that the university’s cyber insurance policy covered part of the ransom. “After careful consideration, the university decided to work with its cyber insurance provider to pay a fee to the ransomware attacker,” the university said today.” ” continues the statement.