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News alert: Beazley reports on how AI, new tech distract businesses as cyber risk intensifies

The Last Watchdog

London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. For the insurance industry, working with clients to help them tackle these challenges is vital to ensuring businesses operate in as safe an environment as possible.

Risk 189
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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. The Framework.

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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. sought coverage for expenses under its property insurance policy.

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

IT Governance

Ordinance Survey discovers breach of employee data (1,000). 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).

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Getting ready for artificial general intelligence with examples

IBM Big Data Hub

According to Andreessen Horowitz (link resides outside IBM.com ) , in 2023, the average spend on foundation model application programming interfaces (APIs), self-hosting and fine-tuning models across surveyed companies reached USD 7 million. 46% of survey respondents in 2024 showed a preference for open source models.

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A consumer perspective on FinTech disruption (part 3)

CGI

The blog series is based on the findings of CGI’s 2016 survey of 1,670 consumers across 8 countries, which assessed consumer perspectives on 12 leading digital FinTech services.* Invest in protection capabilities for the bank and customer : CGI’s survey shows that fear and trust are big issues with consumers.

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What is a Cyberattack? Types and Defenses

eSecurity Planet

Staying ahead of attackers is a constant battle and the cost is “unsustainable,” 81% of WEF survey respondents say. Capital markets, insurance, financial services, and banking are now online. Educating and training employees is a must-do in modern endpoint security. See the Top Rootkit Scanners. Other methods.