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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. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.

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Climate change examples

IBM Big Data Hub

Surface temperature statistics paint a compelling picture of the changing climate: 2023, according to the European Union climate monitor Copernicus, was the warmest year on record—nearly 1.5 Poor air quality from wildfire smoke can exacerbate asthma and heart disease, for example, while heat waves can cause heat exhaustion.

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List of Data Breaches and Cyber Attacks in 2023

IT Governance

IT Governance is dedicated to helping organisations tackle the threat of cyber crime and other information security weaknesses. With that out of the way, it’s time to move on to May 2023. MCNA Insurance later confirmed that 8,923,662 people were affected in the incident and said the breach was a result of a ransomware attack.

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What Is Encryption? Definition, How it Works, & Examples

eSecurity Planet

For example, The Health Insurance Portability and Accountability Act (HIPAA) requires security features such as encryption to protect patients’ health information. For example, the Hypertext Transfer Protocol Secure (HTTPS) protocol enables secure web connections that provide both security and integrity for connections.

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Global Data Breaches and Cyber Attacks in December 2023 – 2,241,916,765 Records Breached

IT Governance

IT Governance’s research found the following for December 2023: 1,351 publicly disclosed security incidents. Both these figures are a significant increase on what we found for November 2023 : 470 incidents and 519,111,354 records – 187% and 332% increases respectively. In November 2023, this was 227 incidents (48%).

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Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

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CIAM in insurance: A unified, secure user experience with a single login

Thales Cloud Protection & Licensing

CIAM in insurance: A unified, secure user experience with a single login madhav Fri, 05/26/2023 - 07:33 In recent years, the insurance industry has transformed from a singularly focused entity to a multi-brand or multi-service type of business. Adding value to the user experience (a top priority for 59% of insurers) 2.