Why consumer education is needed in the digital insurance age

DXC

For the insurance sector, this has brought forth both new market opportunities and new market confusion. The insurance sector has leveraged digital for new ways of working, and that has proven to be especially valuable in light of […]. Insurance digital insurance

Cyber Insurance: Higher Premiums, Limited Coverage

Data Breach Today

GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office

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Mainframes, Freight Trains and Education Pains

Rocket Software

Programmers should influence our educational institutions. You’re tapping into the vein of what those forward-thinking educators want. The post Mainframes, Freight Trains and Education Pains appeared first on The Rocket Software Blog. By David Robertson , guest blogger.

K12 education giant paid the ransom to the Ryuk gang

Security Affairs

Online education giant K12 Inc. The education company Online education giant K12 Inc. is a for-profit education company that sells online schooling and curricula. The post K12 education giant paid the ransom to the Ryuk gang appeared first on Security Affairs.

Delivering business value for insurance companies

Collibra

Recapping a discussion moderated by Stijn Christiaens and featuring insurance data experts from Deloitte UK . Insurance is a data-intensive business. Insurance companies need data to better assess risks and price policies competitively, but also profitably.

What You Need to Know About Cyber Insurance Coverage

InfoGoTo

One thing that can mitigate this risk is cyber insurance. Benefits of Cyber Insurance. A cyber insurance policy is a great line of defense that can minimize or defray the costs associated with negative IT-related security events, such as: Incident response activities.

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. 2 (2021) regarding “Cyber Insurance Risk Framework” (the “Guidelines”), calling on insurers to take more stringent measures in underwriting cyber risks. sought coverage for expenses under its property insurance policy.

UnitedHealth Group invests $8.25M to aid data scientist education

Information Management Resources

The health insurer and the Atlanta University Center Consortium—the oldest and largest consortium of historically black colleges and universities—are partnering to help students become data analytics experts. Payer Edition Healthcare innovations Investments Continuing education Healthcare analytics Under-served populations UnitedHealthcare

Meeting Evolving Business Needs – A Conversation Between RIM Educators and Thought Leaders

Information Governance Perspectives

Hunter, Dr. Tao Jin, Dr. Patricia Franks, Rae Lynn Haliday, Cheryl Pederson, and Wendy McLain on the topic of Meeting Evolving Business Needs – A Conversation Between RIM Educators and Thought Leaders. And recruiters are looking for that education and experience.

Cyber Insurance: Addressing Your Risks and Liabilities

Hunton Privacy

In a webinar, entitled Cyber Insurance: Addressing Your Risks and Liabilities , hosted by Hunton & Williams LLP and CT , Hunton & Williams partners Lon A. Sotto provide a background into the current cyber threats and educate companies and their counsel on how to take full advantage of their existing insurance programs and specialized cyber insurance products to effectively and proactively address cyber risks.

Department of Education and Department of Health and Human Services Release First Update to Joint Guidance on FERPA and HIPAA Since 2008

Hunton Privacy

Department of Education and the U.S. Department of Health and Human Services released joint guidance on the application of the Family Educational Rights and Privacy Act (“FERPA”) and the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) Privacy Rule to student records. The 27-page document includes FAQs clarifying for schools, health care professionals and families how FERPA and HIPAA apply to student education and health records. The U.S.

Court Compels Non-Party Insurance Agents to Produce Text Messages in TCPA Case: eDiscovery Case Law

eDiscovery Daily

Farmers Insurance Exchange, No. Sippel granted the plaintiff’s motion to compel two non-party Farmers Insurance agents to comply with subpoenas and produce documents pertaining to text messages that they allegedly sent to potential customers, rejecting the agents’ argument that compliance with the subpoenas would violate their Fifth Amendment right against compelled, self-incriminating testimony. In Gould v. 4:17 CV 2305 RWS (E.D. 30, 2018) , Missouri District Judge Rodney W.

Cyber attacks hit a fifth of schools and colleges

IT Governance

One in five schools and colleges have fallen victim to cyber crime, according to research from the specialist insurer Ecclesiastical, yet the majority (74%) of educational establishments claim to be “fully prepared” to deal with such attacks. . Cyber Essentials Cyber Security Education cyber attacks Cyber essentials cyber essentials plus cyber security for schools e-learning education phishing e-learning schools

The Tragedy of the Data Commons

John Battelle's Searchblog

No, this post is about the business of health insurance. Last week ProPublica published a story titled Health Insurers Are Vacuuming Up Details About You — And It Could Raise Your Rates. It envisions “a future in which everything you do — the things you buy, the food you eat, the time you spend watching TV — may help determine how much you pay for health insurance.” So what does this have to do with healthcare, data, and the insurance industry?

Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. The New York State Department of Financial Services recently amended its annuity suitability regulation to apply a “best interest” standard in connection with both life insurance and annuity transactions with consumers. Long-Term Care Insurance (EX) Task Force Organizes Six Work Streams Relevant to Its Charges .

Paper 64

The Third Modern Data Management Summit: Making Data Work!

Reltio

Overall the event provided best in the industry networking opportunity and educational sessions that offered new ways for companies to think about their data in the new digital economy. Ankur Gupta, Sr. Product Marketing Manager, Reltio.

#ModernDataMasters: Henrik Liliendahl, Chairman & CTO, Product Data Lake

Reltio

I was educated in computer engineering but my first job was on the business side. Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio.

MDM 46

Data Breach: Turkish legal advising company exposed over 15,000 clients

Security Affairs

Inova is an actuarial consultancy company, which means they compile statistical analysis and calculate insurance risks and premiums. Document sent to the insurance company by the victim’s lawyer.

Ransomware infected systems at Xchanging, a DXC subsidiary

Security Affairs

Xchanging is a business process and technology services provider and integrator, which provides technology-enabled business services to the commercial insurance industry. Xchanging is primarily an insurance managed services business that operates on a standalone basis.”

We Infiltrated a Counterfeit Check Ring! Now What?

Krebs on Security

Education is definitely one piece, as raising awareness is hands down the best way to get ahead of this,” Tokazowski said. Imagine waking up each morning knowing the identities of thousands of people who are about to be mugged for thousands of dollars each.

Customer Tracking at Ralphs Grocery Store

Schneier on Security

To comply with California's new data privacy law, companies that collect information on consumers and users are forced to be more transparent about it. Sometimes the results are creepy.

Anti-Ransomware Company Exagrid Pays $2.6 Million Ransom

Adam Levin

Practice the 3Ms: Minimize your risk of exposure: Don’t take unnecessary risks and invest in cyber defenses and education. Manage the damage: Plan ahead in the event of a successful cyberattack and have a cyber liability insurance plan to help offset the costs. .

Business ID Theft Soars Amid COVID Closures

Krebs on Security

She shared with me a copy of the lease, which included a fraudulent ID and even a vehicle insurance card for a Land Cruiser we got rid of like 15 years ago.

COUNTDOWN TO IBM THINK WITH IBM CHAMPION BOB BERSANO

Rocket Software

What it means to be an IBM Champion: I enjoy assisting and educating the IBM community on Db2 tools and how they can simplify common everyday work tasks. I love educating customers how important backup and recovery are to a business.

[Podcast] The AIIM Conference – Then and Now

AIIM

Hear Riley McIntosh from Pacific Life Insurance and Alison Clarke from OpenText talk about how Pacific Life took their Records Management program and transformed it from a risk-based program to an information value-based program using process efficiencies and automation.

ROUNDTABLE: Experts react to President Biden’s exec order in the aftermath of Colonial Pipeline hack

The Last Watchdog

This very high-profile caper is part of an extended surge of ransomware attacks, which quintupled globally between the first quarter of 2018 and the fourth quarter of 2020, and is expected to rise 20 percent to 40 percent this year, according to insurance giant Aon. Not only will it educate and inform the cybersecurity experts regarding the cyberattacks. As wake up calls go, the Colonial Pipeline ransomware hack was piercing. Related: DHS embarks on 60-day cybersecurity sprints.

Addressing the Benefit Claims Process Challenge

InfoGoTo

A big impact, according to Mary Ellen Buzzelli, Director of State, Local and Education Strategy for Iron Mountain Government Solutions. What size impact is the COVID-19 pandemic having on the state agency benefit claims processes?

Vermont’s Amendments to Data Breach Law and New Student Privacy Law Effective July 1, 2020

Hunton Privacy

heath records or records of a wellness program or similar program of health promotion or disease prevention, a health care professional’s medical diagnosis or treatment of the consumer or a health insurance policy number.

10 IG Steps to Foster Privacy, Transparency Compliance During and After COVID-19

InfoGoTo

Educate all employees and contractors on the steps being taken, such as the collection of data and how it’s handled, protected and shared.

Court Observes “Timing is Everything” in Determining When Litigation is Anticipated: eDiscovery Case Law

eDiscovery Daily

In this theft-of-business-property insurance claim case, each party had a significantly different view about the time of when the defendant first anticipated litigation. August 3, 2017 , because it was the date when “Covington’s assigned claims administrator sent the insured correspondence.

DOL Puts Plan Sponsors and Other Fiduciaries on Notice: ERISA Requires Appropriate Precautions to Mitigate Cybersecurity Threats

Data Matters

DOL guidance provides a series of questions that should serve as a starting point for this review and includes topics such as the service provider’s information security standards, track record, cybersecurity insurance coverage, and cybersecurity validation techniques. Educate participants and beneficiaries who manage their retirement accounts online about online security. There just may be a new cybersecurity regulator in town.

NEW TECH: DataLocker introduces encrypted flash drive — with key pad

The Last Watchdog

We expect it to be big in education, finance, legal, healthcare and government; anytime a doctor wants to transport personally identifiable information from, let’s say a doctor’s office to an insurance office, or law enforcement has a large amount of data that they can’t send by e-mail.

Phishing emails and malicious attachments responsible for 34% of cyber attacks

IT Governance

The gaming and public-sector industries were mostly affected by targeted attacks, whereas the insurance and telecom industries mostly suffered opportunistic attacks. Email is used organisation-wide and, with targeted attacks a growing concern, it is essential that organisations build awareness and educate their employees. If employees aren’t fully educated on phishing, they are liable to underestimate the threat.

It’s Clean Your Virtual Desktop Day: How Will You Celebrate?

InfoGoTo

Reiterating those cybersecurity concerns: If you are working in finance, insurance, education or healthcare, there are increasingly stringent regulations governing data storage. Remember when you first unboxed your laptop? The screen was smudge-free, the keyboard didn’t have lunch crumbs lodged between keys, and it held a sense of newness similar to a freshly minted car.

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How Many States Have Outlawed Ransomware? You May Be Shocked: Cybersecurity Trends

eDiscovery Daily

This while the Insurance Journal reported (via Reuters – hat tip again to Ride the Lightning) last week that U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims.

5 Pillars of a Successful Digital Transformation

AIIM

Being aware and educated on the most common obstacles businesses face can help with preliminary strategies and prevention planning. For example, an oil and gas company will not have the same objectives as an insurance provider.

List of data breaches and cyber attacks in August 2020 – 36.6 million records breached

IT Governance

Author of FastPOS malware revealed, pleads guilty Cyber insurance: The moral quandary of paying criminals who stole your data For six months, security researchers have secretly distributed an Emotet vaccine Please stop hard-wiring AWS credentials in your code.

List of data breaches and cyber attacks in February 2020 – 623 million records breached

IT Governance

Preschool services provider Educational Enrichment Systems discloses cyber attack (unknown). Pacific Specialty Insurance Company notifies plan members of 2019 data breach (unknown). Arizona Department of Education exposes parents’ scholarship accounts (7,000).

What is personal information under the CCPA?

Collibra

Education information not considered publicly available personally identifiable information as defined in the Family Educational Rights and Privacy Act.

California Legislature Passes Bill to Establish the Genetic Information Privacy Act, Pending Governor’s Signature

Hunton Privacy

Not disclosing, subject to specified exceptions, a consumer’s genetic data to certain entities ( e.g. , those responsible for making decisions regarding health insurance, life insurance or employment).