Remove 2016 Remove Insurance Remove Security
article thumbnail

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
article thumbnail

Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M

Krebs on Security

Now the financial institution is suing its insurance provider for refusing to fully cover the losses. According to a lawsuit filed last month in the Western District of Virginia, the first heist took place in late May 2016, after an employee at The National Bank of Blacksburg fell victim to a targeted phishing email. million total.

Insurance 196
Insiders

Sign Up for our Newsletter

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

article thumbnail

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.

article thumbnail

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
article thumbnail

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
article thumbnail

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
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?