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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. 11, 2001, terrorist attacks.

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Dark Overlord hacking crew publishes first batch of confidential 9/11 files

Security Affairs

The Dark Overlord published the first batch of decryption keys for 650 confidential documents related to the 9/11 terrorist attacks. In April 2018, Hiscox acknowledged the data breach and confirmed that the hacked server “may have included information relating to up to 1,500 of Hiscox’s US-based commercial insurance policyholders.”.

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Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?

HL Chronicle of Data Protection

In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.

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BEST PRACTICES: Rising complexities of provisioning identities has pushed ‘IGA’ to the fore

The Last Watchdog

SailPoint, which went public in November 2017, has grown to more than 1000 employees in 30 locations. To protect this new amorphous perimeter, the overall safeguarding of identities has become vital, Kiser argued, and a key part of accomplishing that is implementing strong, flexible identity governance. Users re-defined. Compliance matters.

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SEC Announces Settled Charges Against First American for Cybersecurity Disclosure Controls Failures – Lessons Learned

Data Matters

On June 15, 2021, the SEC announced settled charges against First American Title Insurance Company (First American) for disclosure controls and procedures violations related to a cybersecurity vulnerability that exposed sensitive customer information. SEC Statement and Guidance on Public Company Cybersecurity Disclosures.

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UK businesses are reporting fewer data breaches, but is this as positive as it sounds?

IT Governance

This is a marked improvement on the previous two years, in which 43% (2018) and 46% (2017) of businesses were breached, but it doesn’t tell the full story of the UK’s threat landscape. More medium-sized (31% vs 19%) and large businesses (35% vs 24%) have invested in cyber insurance. appeared first on IT Governance Blog.

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Regulatory Update: NAIC Spring 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Spring 2019 National Meeting (Spring Meeting) in Orlando, Florida, from April 6 to 9, 2019. ceding insurer could be eligible for the same reduced collateral requirements that would apply to qualifying EU reinsurers under the revised CFR Model Laws.