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Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

Insurance 128
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Cyber-insurance – 72 hours for the insured party to file a criminal complaint: GDPR’s false friend

Data Protection Report

The French Information and Digital Security Experts Club ( CESIN ) has estimated that 54% of French companies were subject to cyberattacks in 2021, [1] while France Assureurs has put cyberattack risks on top of all other risks for the sixth year in a row. [2] 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

Insurance 105

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The False Economy of Deprioritising Security

IT Governance

In the UK, cyber security has been dropping down the board’s list of priorities. The UK government’s Cyber Security Breaches Survey 2023 confirms this trend. Fewer directors, trustees and other senior managers of both UK businesses and charities see cyber security as a high priority in 2023 compared to 2022. Specifically, a 13.4%

Security 116
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France data protection agency fines Uber 400k Euros Over 2016 Data Breach

Security Affairs

France’s data protection agency had fined the ride-sharing company Uber with 400,000 euros ($455,000) over a 2016 data breach. The data breach suffered by Uber in 2016 exposed the personal data of some 57 million clients and drivers worldwide. SecurityAffairs – hacking, 2016 data breach). Pierluigi Paganini.

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A Second State Hits EmblemHealth With Breach Fine

Data Breach Today

Case Involves Social Security Numbers Exposed in Mailings For the second time this year, health insurer EmblemHealth has been hit with a state financial penalty in connection with a 2016 breach that exposed Social Security numbers on mailings to more than 81,000 plan members.

Insurance 174
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RSAC insights: How ‘TPRM’ can help shrink security skills gap — while protecting supply chains

The Last Watchdog

Big banks and insurance companies instilled the practice of requesting their third-party vendors to fill out increasingly bloated questionnaires, called bespoke assessments, which they then used as their sole basis for assessing third-party risk. CyberGRX launched in 2016 precisely because bespoke assessments had become untenable.

Security 266
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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?