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Why Cyber Insurance is Essential in 2022

IT Governance

One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. These activities aren’t typically included in standard business insurance policies, which tend to only cover costs related to technical issues, such as corrupted hard drives and lost devices. The benefits of cyber insurance.

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The risks and limitations of AI in insurance

IBM Big Data Hub

In my previous post , I described the different capabilities of both discriminative and generative AI, and sketched a world of opportunities where AI changes the way that insurers and insured would interact. Usage risk—inaccuracy The performance of an AI system heavily depends on the data from which it learns.

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Australian government announced sanctions for Medibank hacker

Security Affairs

The Australian government announced sanctions for a member of the REvil ransomware group for the Medibank hack that occurred in 2022. The Australian government announced sanctions for Aleksandr Gennadievich Ermakov (aka GustaveDore, aiiis_ermak, blade_runner, JimJones), a Russian national who is a member of the REvil ransomware group.

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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.

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New York Department of Financial Services Reaches $1 Million Dollar Settlement With First American Title Insurance in Data Breach Investigation

Hunton Privacy

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

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6 Tips for Managing eDiscovery for Access Requests for a State or Local Government Organization

eDiscovery Daily

By Catherine Ostheimer Being responsive to the growing number of Access Requests and DSARS as a local government organization can be daunting. Other burdens are resource constraints, including limited budgets, staff, and access to affordable technology. First, there’s the data management challenge. Develop policies.

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Examples of IBM assisting insurance companies in implementing generative AI-based solutions  

IBM Big Data Hub

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.