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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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The Impact of Data Protection Laws on Your Records Retention Schedule

ARMA International

Definition and Purpose of a Records Retention Schedule. Certain sectors, such as banking, financial services, health, and insurance have their own data protection and privacy requirements. 8 This is the GDPR definition and other countries have similar broad definitions of personal data. 2016/679 (EU, April 27).

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RSAC insights: CyberGRX finds a ton of value in wider sharing of third-party risk assessments

The Last Watchdog

Back in the mid-1990s, big banks and insurance companies came up with something called “bespoke assessments” as the approach for assessing third party vendor risk. CyberGRX launched in 2016 as a clearinghouse for companies to pool and share standardized assessment data and actually analyze the results for action. Visibility boost.

Risk 195
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New CNIL €400,000 fine for data security breaches and non-compliance with data retention period under the GDPR

Data Protection Report

The issue giving rise to the financial penalty was a security breach relating to the company’s website notified by a user to the CNIL on 12 August 2018. The user stated that he was able to access other users’ personal information from his website account by changing the URL address.

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