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Merck settles with insurers regarding a $1.4 billion claim over NotPetya damages

Security Affairs

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 billion insurance claim for the losses caused by the NotPetya attack that took place in 2017. Merck had not taken out specific insurance to cover cyber attacks, it only had insurance coverage against general risks.

Insurance 112
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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No.

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How to make sure your cyber insurance policy pays out

IT Governance

Cyber insurance is big business these days. Damages incurred by information security incidents generally aren’t covered in commercial insurance policies, so a specific policy is necessary to help cover the costs of things like forensic investigation, incident response and notification procedures.

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HHS Announces First HIPAA Settlement Agreement Involving Ransomware Attack

Hunton Privacy

DMS did not detect the attack until after the ransomware was used to encrypt its files in December 2018. DMS is a HIPAA business associate (“BA”) that provides payer credentialing and medical billing services to HIPAA Covered Entities (“CEs”).

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Security Compliance & Data Privacy Regulations

eSecurity Planet

See the Top Governance, Risk and Compliance (GRC) Tools. are subject to laws such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health Act (the HITECH Act), as well as regulations such as the Clinical Laboratory Improvements Amendments (CLIA).

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How to create an ISO 27001-compliant risk treatment plan

IT Governance

An RTP (risk treatment plan) is an essential part of an organisation’s ISO 27001 implementation process, as it documents the way your organisation will respond to identified threats. What are your risk treatment options? What are your risk treatment options? Avoid the risk by ceasing any activity that creates it.

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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

His news analysis columns, podcasts, and videos are crafted to foster a useful understanding of complex privacy and cybersecurity developments for company decision-makers and individual citizens — for the greater good. How can companies minimize risks? Regular training and simulations can help reduce risks associated with human errors.