Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. I recently spoke with Neira Jones and Danna Bethlehem about how cybersecurity insurance can work to help an organization. regulations.

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Insurance Cybersecurity Cleanup Ransomware 71

Data Matters

JANUARY 14, 2019

On December 19, 2018, Ohio adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. The Act is designed to “establish standards for data security and for the investigation and notification to the Superintendent of Insurance of a cybersecurity event.”. O.R.C. §§ 3965.01(E).

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Insurance Security Cybersecurity Data breaches 68

Data Matters

FEBRUARY 11, 2019

On December 28, 2018, Michigan adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law in the form of Michigan H.B. The Act defines licensees as persons authorized, registered, or licensed under Michigan insurance laws or required to be so. 6491 (Act). MCL § 500.550.

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Hunton Privacy

JANUARY 2, 2019

New cybersecurity rules for insurance companies licensed in South Carolina are set to take effect in part on January 1, 2019. The new law is the first in the United States to be enacted based on the data security model law drafted by the National Association of Insurance Commissioners.

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Insurance Cybersecurity Data breaches Encryption 77

Thales Cloud Protection & Licensing

APRIL 1, 2021

Protecting Sensitive Data with Luna Key Broker for Microsoft Double Key Encryption. Thales has integrated its Luna HSMs with DKE for Microsoft 365, which work together to enable organizations to protect their most sensitive data while maintaining full control of their encryption keys. Thu, 04/01/2021 - 14:04.

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Encryption Compliance Cloud GDPR 79

eSecurity Planet

OCTOBER 18, 2022

However, even with the best planning, organizations can find a few users, machines, or systems that were overlooked or whose backup may be corrupted or encrypted. First, call the cyber insurance company that issued the organization’s cybersecurity policy. Insured companies often will not have options. Eliminate attacker access.

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Ransomware Encryption Insurance Access 131

Hunton Privacy

FEBRUARY 25, 2021

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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Security Affairs

JANUARY 2, 2024

A team of researchers released a suite of tools that could help victims to decrypt data encrypted with by the Black Basta ransomware. Independent security research and consulting team SRLabs discovered a vulnerability in Black Basta ransomware’s encryption algorithm and exploited it to create a free decryptor.

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Data Matters

JULY 30, 2018

In October 2017, the National Association of Insurance Commissioners (NAIC) adopted an Insurance Data Security Model Law. On May 3, 2018, South Carolina became the first state to enact this Model Law, in the form of the South Carolina Insurance Data Security Act (H.B. See CT Gen Stat § 38a-999b (2015) ; 23 NYCRR 500.

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Data Protection Report

FEBRUARY 27, 2020

Given the level of interest in the case, we have prepared a deeper-dive into the facts and the implications of the decision, with a focus on the important role played in the case by cyber insurance. Until recently, there had not been an example of a cyber insurer actively participating in a recovery action. This is set out below.

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Insurance Risk Data breaches Personal data 81

IT Governance

JULY 15, 2019

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. Document an incident response plan.

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Insurance Data breaches Risk Information Security 89

Krebs on Security

AUGUST 29, 2019

-based PerCSoft is a cloud management provider for Digital Dental Record (DDR), which operates an online data backup service called DDS Safe that archives medical records, charts, insurance documents and other personal information for various dental offices across the United States. PercSoft did not respond to requests for comment.

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Security Affairs

JANUARY 23, 2024

In early January, independent security research and consulting team SRLabs discovered a vulnerability in Black Basta ransomware’s encryption algorithm and exploited it to create a free decryptor. The ransomware employs encryption based on a ChaCha keystream, which is utilized to perform XOR operations on 64-byte-long chunks of the file.

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Encryption Ransomware Blockchain Insurance 111

Data Matters

JUNE 23, 2022

Kentucky and Maryland recently continued the trend of state insurance departments adopting some version of the National Association of Insurance Commissioners’ (“NAIC”) Insurance Data Security Model Law. Kentucky Governor Andy Beshear signed House Bill 474 into law, and Maryland Governor Larry Hogan signed SB 207.

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Security Affairs

APRIL 10, 2024

The Group Health Cooperative of South Central Wisconsin (GHC-SCW) is a non-profit organization that provides health insurance and medical care services to its members in the Madison metropolitan area of Wisconsin. “The attacker attempted to encrypt GHC-SCW’s system but was unsuccessful.”

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Data breaches e-Discovery Ransomware Insurance 109

Krebs on Security

JULY 19, 2021

Experts say the biggest reason ransomware targets and/or their insurance providers still pay when they already have reliable backups is that nobody at the victim organization bothered to test in advance how long this data restoration process might take. “That is still somewhat rare,” Wosar said.

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Hunton Privacy

JULY 1, 2022

Since Carnival was licensed by the Department to sell insurance in NY State, it was treated as a covered entity under the Cybersecurity Regulation. In addition to the monetary penalty of $5 million, NYDFS also accepted Carnival’s surrender of its insurance producer license; thus, Carnival has ceased selling insurance in New York.

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Krebs on Security

DECEMBER 7, 2019

The attack on CTS comes little more than two months after Sodinokibi hit Wisconsin-based dental IT provider PerCSoft , an intrusion that encrypted files for approximately 400 dental practices. “I would recommend everyone reach out to their insurance provider,” said one dentist based in Denver.

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Krebs on Security

DECEMBER 8, 2022

First spotted in mid-August 2022 , Venus is known for hacking into victims’ publicly-exposed Remote Desktop services to encrypt Windows devices. Encrypting sensitive data wherever possible. Department of Health and Human Services (HHS) warned that Venus ransomware attacks were targeting a number of U.S. healthcare organizations.

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Thales Cloud Protection & Licensing

JANUARY 16, 2024

That includes banks, insurances, payment institutions, stock market, and many financial management firms (trading, crypt-assets, etc). Key Management System (KMS) are “dedicated control systems” that protect cryptographic keys, define role-based access controls and policies, and enforce them by mean of encryption.

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Financial Services Cloud Cybersecurity Encryption 83

Krebs on Security

FEBRUARY 20, 2024

The government says Russian national Artur Sungatov used LockBit ransomware against victims in manufacturing, logistics, insurance and other companies throughout the United States. In addition, the Japanese Police, supported by Europol, have released a recovery tool designed to recover files encrypted by the LockBit 3.0

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eSecurity Planet

MAY 26, 2023

Confidential computing is a technology and technique that encrypts and stores an organization’s most sensitive data in a secure portion of a computer’s processor — known as the Trusted Execution Environment (TEE) — while it’s processed and in use. Most other encryption approaches protect data at rest and data in transit only.

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Thales Cloud Protection & Licensing

MAY 9, 2022

While implementation of security technologies such as multi-factor authentication and encryption have slightly increased, we have not yet reached the level where the majority of applications, data and operational technology are fully protected. Cyber insurance coverage ramps up. Encrypt sensitive data at rest, in motion and in use.

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Insurance Ransomware Encryption Authentication 71

Thales Cloud Protection & Licensing

NOVEMBER 9, 2021

Shared responsibility is about controlling your own security – anything from data encryption to managing the encryption keys. Having full control and access to the encryption keys places more trust and confidence on leveraging the powers of the cloud. This is exactly why organizations like Thales and Google are working together.

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Thales Cloud Protection & Licensing

JUNE 15, 2023

The most effective way to ensure data security is through encryption and proper key management. Key Management as a Service (KMaaS) allows companies to manage encryption keys more effectively through a cloud-based solution instead of running the service on physical, on-premises hardware.

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Encryption Compliance Cloud Authentication 133

Security Affairs

MAY 15, 2023

Compromised organizations operate in different business verticals, including manufacturing, wealth management, insurance providers, and pharmaceuticals. The ransomware supports intermittent encryption to speed up the encryption process. This process encrypts only a certain part of the source file’s contents, not the entire file.”

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Ransomware Encryption Healthcare Insurance 84

HL Chronicle of Data Protection

MAY 13, 2019

In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.

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Insurance Cybersecurity Data breaches Financial Services 40

eSecurity Planet

JULY 12, 2022

Screens then started to display a ransom demand, which said files had been encrypted by the NetWalker ransomware virus. Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. The ransom demand was $3.6

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eSecurity Planet

DECEMBER 7, 2023

Encryption uses mathematical algorithms to transform and encode data so that only authorized parties can access it. What Encryption Is and How It Relates to Cryptology The science of cryptography studies codes, how to create them, and how to solve them. How Does Encryption Process Data? How Does Encryption Process Data?

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Encryption IT Passwords IoT 97

Krebs on Security

MARCH 2, 2021

based PrismHR handles everything from payroll processing and human resources to health insurance and tax forms for hundreds of “professional employer organizations” (PEOs) that serve more than two million employees. Hopkinton, Mass.-based PrismHR has not yet responded to requests for comment.

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OneHub

OCTOBER 29, 2019

The second is to make sure they use encryption, preferably bank-level. Here’s what every business needs to know about using an encrypted file sharing service and how to safely share documents. What Is Bank-Level Encryption? . There are different degrees of encryption, including 128, 192, and 256 bits. Here’s why.

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Encryption Data breaches Access Marketing 40

Hunton Privacy

FEBRUARY 22, 2017

The stolen laptops contained policyholder electronic Protected Health Information (“ePHI”), including names, addresses, birth dates, insurance identifications and, in some cases, Social Security numbers and clinical data. The policyholder data was password protected but not encrypted, in violation of HIPAA and HITECH.

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Insurance Privacy Encryption Passwords 45

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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Insurance Government Cybersecurity Risk 86

Security Affairs

AUGUST 21, 2020

.” According to the University, the ransomware encrypted only 0.02% of the data stored on its servers. University of Utah officials explained that the university’s cyber insurance policy covered part of the ransom. ” continues the statement.

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Security Affairs

OCTOBER 9, 2021

. “On June 3, 2021, CMG experienced a ransomware incident in which a small percentage of servers in its network were encrypted by a malicious threat actor. CMG discovered the incident on the same day, when CMG observed that certain files were encrypted and inaccessible.” ” continues the notification.

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eSecurity Planet

AUGUST 9, 2022

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). Healthcare Data Privacy Laws. Health data and patient data in the U.S.

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Data Privacy Compliance Privacy Security 139

Hunton Privacy

NOVEMBER 13, 2023

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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