How to Optimize Your Cyber Insurance Coverage
Dark Reading
FEBRUARY 8, 2023
From prevention and detection processes to how you handle policy information, having strong cyber insurance coverage can help mitigate cybersecurity attacks.
Top 8 Cyber Insurance Companies for 2022
eSecurity Planet
APRIL 22, 2022
That’s where cyber insurance may be able to help. If your company has not already experienced a significant cybersecurity event, it is probably only a matter of time before it does. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage.
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How to handle a ransomware attack
IBM Big Data Hub
JANUARY 22, 2024
The photo will expedite the recovery process and help when filing a police report or a possible claim with your insurance company. Regardless of your decision, you should always consult with law enforcement officials and cybersecurity professionals before moving forward.
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Cybersecurity Insurance Not Paying for NotPetya Losses
Schneier on Security
MARCH 8, 2019
This will complicate things: To complicate matters, having cyber insurance might not cover everyone's losses. Zurich American Insurance Company refused to pay out a $100 million claim from Mondelez, saying that since the U.S.
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How to Decrypt Ransomware Files – And What to Do When That Fails
eSecurity Planet
OCTOBER 18, 2022
First, call the cyber insurance company that issued the organization’s cybersecurity policy. Most insurance companies require specific incident response vendors, procedures, and reporting that must be met to meet the standards to be insured. Insured companies often will not have options. Eliminate attacker access.
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What is Cybersecurity Risk Management?
eSecurity Planet
FEBRUARY 11, 2022
The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. This article looks at cybersecurity risk management, how to establish a risk management system, and best practices for building resilience. What is Cybersecurity Risk Management?
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Exploring the Consequences of Not Paying a Ransom
Data Breach Today
NOVEMBER 10, 2022
This edition of the ISMG Security Report discusses how Australian health insurer Medibank is facing stark consequences for not paying a ransom to a group of cyber extortionists, how to limit unnecessary cybersecurity exposure during M&A, and how to manage challenges in hybrid environments.
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GUEST ESSAY: How to secure ‘Digital Twins’ to optimize asset use, while reducing exposures
The Last Watchdog
AUGUST 8, 2022
Digital twins are just one example of a complex system, but they expose companies to a lot of risk if they are not properly implemented with a cybersecurity plan in place. They need a comprehensive cybersecurity plan. Digital twins are a digital representation of reality , either in physical or process form. Managing scenarios.
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Cybersecurity Insurance
Schneier on Security
APRIL 12, 2018
Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. But even with 20 years' worth of experience and claims data in cyberinsurance, underwriters still struggle with how to model and quantify a unique type of risk.
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How to Find & Choose IT Outsourcing Services
eSecurity Planet
AUGUST 4, 2023
Most organizations seek to eliminate these risks by outsourcing specific projects or even their full IT or cybersecurity needs. or cybersecurity-focused trade shows (RSA Conference, Black Hat, etc.) Subscribe The post How to Find & Choose IT Outsourcing Services appeared first on eSecurityPlanet.
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How to Develop an Incident Response Plan
eSecurity Planet
DECEMBER 9, 2021
An incident is an event that affects our scope of responsibility, and a response is how we deal with the incident. For cybersecurity personnel, our scope of responsibility may be limited to cyberattacks on IT systems, such as ransomware attacks, phishing attacks, and DDoS attacks. Be in-line with insurance policies.
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MY TAKE: NIST Cybersecurity Framework has become a cornerstone for securing networks
The Last Watchdog
APRIL 30, 2019
If your company is participating in the global supply chain, either as a first-party purchaser of goods and services from other organizations, or as a third-party supplier, sooner or later you’ll encounter the NIST Cybersecurity Framework. That could be for insurance purposes. “As Wrenn said. “So
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Best Practices Q&A: Guidance about what directors need to hear from CISOs — from a board member
The Last Watchdog
APRIL 8, 2024
Related: The ‘cyber’ case for D&O insurance Vanessa Pegueros knows this all too well. She noted that most board members are non-technical, especially when it comes to the intricate nuances of cybersecurity, and that their decision-making is primarily driven by concerns about revenue and costs.
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How to build a successful risk mitigation strategy
IBM Big Data Hub
DECEMBER 8, 2023
You will also analyze the degree of negative impact the organization would face if the risk were to occur for risks such as cybersecurity or operational risks. This strategy shifts the risk from the organization onto another party; in many cases, the risk shifts to an insurance company.
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Global October Cybersecurity Events: Where You Can Find Thales
Thales Cloud Protection & Licensing
OCTOBER 5, 2022
Global October Cybersecurity Events: Where You Can Find Thales. The summer is now over, and October is a month full of cybersecurity events for Thales around the world. We will have two meeting rooms, and focus will be on how to discover, protect and control access to your most sensitive data. Thu, 10/06/2022 - 06:55.
CyberheistNews Vol 13 #13 [Eye Opener] How to Outsmart Sneaky AI-Based Phishing Attacks
KnowBe4
MARCH 28, 2023
CyberheistNews Vol 13 #13 | March 28th, 2023 [Eye Opener] How to Outsmart Sneaky AI-Based Phishing Attacks Users need to adapt to an evolving threat landscape in which attackers can use AI tools like ChatGPT to craft extremely convincing phishing emails, according to Matthew Tyson at CSO. "A Don't get caught in a phishing net!
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Developments in Health Privacy and Cybersecurity Policy and Regulation: OCR Issues Cybersecurity Warnings and New Health Data Legislation Is Introduced
Data Matters
MARCH 28, 2022
Department of Health and Human Service’s Office for Civil Rights (“OCR”) issued industry guidance for Health Insurance Portability and Accountability Act (“HIPAA”) regulated entities to take preventative steps to protect against some of the more common, and often successful, cyber-attack techniques. On March 17, 2022, the U.S.
SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep
The Last Watchdog
OCTOBER 5, 2023
Editor’s note: I recently had the chance to participate in a discussion about the overall state of privacy and cybersecurity with Erin Kapczynski, OneRep’s senior vice president of B2B marketing. How did you first get interested in cybersecurity as a career? Erin: So, let’s get started. What drew you to this field?
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SEC Chair: Sweeping New Cybersecurity Rules Are Coming Soon
Data Matters
FEBRUARY 10, 2022
Securities and Exchange Commission (SEC), announced that he has asked SEC staff to provide sweeping rulemaking recommendations to modernize and expand the agency’s rules relating to cybersecurity. These SEC rules could broadly affect cybersecurity requirements across the U.S. Public Companies and Service Providers.
How One Company Survived a Ransomware Attack Without Paying the Ransom
eSecurity Planet
JULY 12, 2022
As we didn’t have a comprehensive cybersecurity plan in place, the attack brought the entire business to its knees.”. Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Most had been infected.
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Security Affairs newsletter Round 463 by Pierluigi Paganini – INTERNATIONAL EDITION
Security Affairs
MARCH 17, 2024
France Travail data breach impacted 43 Million people Scranton School District in Pennsylvania suffered a ransomware attack Lazarus APT group returned to Tornado Cash to launder stolen funds Moldovan citizen sentenced in connection with the E-Root cybercrime marketplace case UK Defence Secretary jet hit by an electronic warfare attack in Poland Cisco (..)
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Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges
Security Affairs
NOVEMBER 6, 2018
Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?
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NSL Podcast Series: Part 3 Betting on a Breach – How to Prepare for the Inevitable
Hunton Privacy
FEBRUARY 25, 2020
In the final part of our Never Stop Learning podcast series, Lisa Sotto , partner and chair of Hunton Andrews Kurth’s Privacy and Cybersecurity practice, and Eric Friedberg, Co-President of Stroz Friedberg, LLC, and Aon’s Cyber Solutions Group, discuss practical solutions in preparing for a cyber incident. Listen to Part 3 of the podcast.
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Webinar on the SAFETY Act, Security and Insurance
Hunton Privacy
OCTOBER 14, 2019
EST, for a webinar to discuss these issues, including why companies should consider SAFETY Act protection and how to obtain it. A SAFETY Act designation or certification complements a company’s traditional insurance policies to mitigate the potential liabilities from a cyber or physical attack.
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Cyber Insurance: Addressing Your Risks and Liabilities
Hunton Privacy
MAY 27, 2015
After a number of high-profile data breaches, corporate cybersecurity is facing increased scrutiny and attention from consumers, the government and the public. In a webinar, entitled Cyber Insurance: Addressing Your Risks and Liabilities , hosted by Hunton & Williams LLP and CT , Hunton & Williams partners Lon A.
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A Cyber Insurance Backstop
Schneier on Security
FEBRUARY 28, 2024
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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Why Cybersecurity Pros Should Care About Governance
Getting Information Done
APRIL 18, 2017
Cybersecurity is a strategic priority for most organizations. We’ve all heard for years that information technology (IT) and cybersecurity require people, process, and technology; however, over the years, “people” and “process” have not received the same attention as “technology.” As a result, companies are turning to cyber insurance.
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Regulatory Update: NAIC Summer 2021 National Meeting
Data Matters
SEPTEMBER 20, 2021
The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. Highlights include, among others, adoption of revised risk-based capital bond factors for life insurers, amendments to SSAP No. NAIC Adopts Revised Risk-Based Capital Bond Factors for Life Insurers.
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Data Protection in Financial Services Week 2022
Data Matters
FEBRUARY 25, 2022
DPFS will be relevant to all those in financial services, including those in the banking, insurance, fintech, funds, payments, private equity, securities, wealth management, and other financial sectors. Hear from industry speakers on: How the latest privacy and cybersecurity developments in Europe and the U.S.
One Year Later: What Have We Learned Since the Colonial Pipeline Attack
Thales Cloud Protection & Licensing
MAY 9, 2022
Therefore, immediate action is needed to deploy more robust cybersecurity strategies. The White House Executive Order on Improving the Nation’s Cybersecurity from May 12, 2021 and the supporting Office of Management Budget Federal Strategy to Move the U.S. Cyber insurance coverage ramps up. How to ensure business resilience.
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71 Rare recovery in a complex ransomware case: Major NetWalker arrest leads to significant asset seizure
Data Protection Report
DECEMBER 8, 2022
Norton Rose Fulbright Canada’s cyber litigation team recently obtained an order in favour of an insurer, granting it relief from forfeiture in respect of more than 11 bitcoins from the assets seized from a prolific ransomware gang. [1] Insurers excluded from restitution order.
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The Scammers’ Playbook: How Cybercriminals Get Ahold of Your Data
eSecurity Planet
SEPTEMBER 14, 2022
A major focus of cybersecurity as an industry is its efforts to detect, root out, and respond to potential fraudsters attempting to trick companies and people out of their money, data, or both. This made a lot of sense, especially in the earlier days of the Internet where cybersecurity measures were nowhere near as robust as they are today.
Webinar on Hacking 101: How it works and how to mitigate risk
HL Chronicle of Data Protection
MAY 7, 2019
Please join the Hogan Lovells Privacy and Cybersecurity team on May 15 for our webinar, Hacking 101: How it Works and How to Mitigate Risk. We will explore how certain common hacks work from a technical perspective and how to mitigate related risks from a legal and compliance perspective.
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CISA Order Highlights Persistent Risk at Network Edge
Krebs on Security
JUNE 15, 2023
government agency in charge of improving the nation’s cybersecurity posture is ordering all federal agencies to take new measures to restrict access to Internet-exposed networking equipment. The directive comes amid a surge in attacks targeting previously unknown vulnerabilities in widely used security and networking appliances.
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GUEST ESSAY: Why the next round of cyber attacks could put many SMBs out of business
The Last Watchdog
AUGUST 12, 2019
Even worse, according to Ponemon, 47 percent of SMBs said they have no understanding of how to protect their companies from cyberattacks. Last month, BorderHawk CyberSecurity launched DefendSMB , a cybersecurity solution that can help small businesses increase their ability to manage a cyber attack for as little as $100 per month.
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What Is Integrated Risk Management? Definition & Implementation
eSecurity Planet
APRIL 29, 2024
The 911 call center needs a robust phone system, trained staff, and a decision-tree process to understand how to route issues to the appropriate emergency or non-emergency agencies to address a caller’s needs. In the examples above, the clothing brand will use traditional and computer-aided design prototyping and marketing research.
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Privacy and Cybersecurity Top 10 for 2018
Data Matters
JANUARY 2, 2018
This past year was marked by ever more significant data breaches, growing cybersecurity regulatory requirements at the state and federal levels and continued challenges in harmonizing international privacy and cybersecurity regulations. A Pivot Toward Asia for Privacy and Cybersecurity Laws. After years of EU-U.S.
What is a Cyberattack? Types and Defenses
eSecurity Planet
JUNE 16, 2022
However, basic cybersecurity tools and practices, like patching , strong passwords , and multi-factor authentication (MFA), “can prevent 80 to 90% of cyberattacks,” said Anne Neuberger, deputy national security advisor for cyber and emerging technologies, during a White House press conference in Sept. The average cost of a breach is $3.6
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Federal Banking Regulators Request Comment on Proposed Guidance for Third-Party Risk Management
Hunton Privacy
JULY 16, 2021
On July 13, 2021, federal bank regulators – the Board of Governors of the Federal Reserve System (the “Board”), the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) (collectively, the “Regulators”) – requested public comment on proposed joint guidance regarding banking organizations’ management (..)
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RSAC insights: How ‘TPRM’ can help shrink security skills gap — while protecting supply chains
The Last Watchdog
JUNE 2, 2022
Big banks and insurance companies instilled the practice of requesting their third-party vendors to fill out increasingly bloated questionnaires, called bespoke assessments, which they then used as their sole basis for assessing third-party risk. Related: A call to share risk assessments. I’ll keep watch and keep reporting.
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US: Coronavirus – Cybersecurity considerations for your newly remote workforce
DLA Piper Privacy Matters
APRIL 2, 2020
Working remotely, or “teleworking,” presents unique cybersecurity challenges to the employer, the employee and the supply chain, especially when being done for the first time in a rapidly changing environment. It is important to note, though, that cybersecurity regulation is generally sector-specific.
RSA Conference 2023: Meet Thales Where the World Talks Security!
Thales Cloud Protection & Licensing
APRIL 18, 2023
In cybersecurity, we are a community of many. By attending our live sessions at the Thales booth, you will learn how to: Discover and classify your data wherever it resides. Or, Victor Mendoza , our Principal Solutions Architect, on how to ‘Achieve Data Sovereignty with CipherTrust’.
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Best Ransomware Removal and Recovery Services
eSecurity Planet
OCTOBER 5, 2021
Basic cybersecurity defenses still apply: next generation firewalls (NGFW) , endpoint detection and response (EDR) platforms, employee cybersecurity training , patching. Get recommendations on how to protect against new threats. Digital forensics for insurance, medical, legal, and Fortune 500 companies. Touchstone.
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139 BEST PRACTICES: Rising complexities of provisioning identities has pushed ‘IGA’ to the fore
The Last Watchdog
APRIL 3, 2019
Its customer base is comprised of eight of the top 15 banks, four of the top six healthcare insurance and managed care providers, nine of the top 15 property and casualty insurance providers, five of the top 13 pharmaceutical companies, and 11 of the largest 15 federal agencies. Talk more soon.
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