IBM Big Data Hub

MAY 1, 2023

That ground-shaking event divided the world with excitement and trepidation about a future with thinking machines. In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. It offers customers and the insurer’s system to interact in a human-like manner.

Artificial Intelligence 85

Artificial Intelligence Insurance Risk Personal data 85

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. The events of the past two years have made this shift clear: from ransomware attacks to the challenges of managing distributed workforces, digital risk is different. When security fails, cyber insurance can become crucial for ensuring continuity.

Insurance 87

Insurance Risk Cybersecurity Ransomware 87

Data Protection Report

MARCH 21, 2023

The French Information and Digital Security Experts Club ( CESIN ) has estimated that 54% of French companies were subject to cyberattacks in 2021, [1] while France Assureurs has put cyberattack risks on top of all other risks for the sixth year in a row. [2] 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

Insurance 105

Insurance Data breaches Personal data GDPR 105

eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

Insurance 128

Insurance Ransomware Risk Data science 128

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. Below are just some of the events Thales will be at over the next few weeks. Les Assises turns 22 this year, and the event motto is "In 2022, We Speed Up!"

Cybersecurity 87

Cybersecurity Cloud Digital transformation Sales 87

Hunton Privacy

AUGUST 6, 2019

On August 2, 2019, New Hampshire Governor Chris Sununu signed into law SB 194 (the “Bill”), which requires insurers licensed in the state (“licensees”) to put in place data security programs and report cybersecurity events. Key provisions of the Bill include: Information Security Program. Incident Response Plan.

Insurance 81

Insurance Security Cybersecurity Information Security 81

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With cyber attacks amounting to a question of when and not if, cyber insurance becomes crucial for ensuring business continuity and mitigating the business impact of attacks – should they occur. Tue, 05/10/2022 - 05:43.

Insurance 77

Insurance Authentication Risk Ransomware 77

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. The post Kentucky and Maryland Recently Joined Other States in Adopting NAIC Model Data Security Law.

Insurance 103

Insurance Security Cybersecurity Information Security 103

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.”.

Insurance 68

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.

Insurance 68

Insurance Security Cybersecurity FOIA 68

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.

Insurance 71

Insurance Cybersecurity Cleanup Ransomware 71

Data Matters

FEBRUARY 10, 2021

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.

Insurance 79

Insurance Financial Services Cybersecurity Risk 79

The Last Watchdog

MARCH 13, 2023

So how will this affect chief information security officers (CISOs) and security programs? Given the perennial skills and staffing shortage in security, it’s unlikely that CISOs will be asked to make deep budget or staffing cuts, yet they may not come out of this period unscathed. Demonstrate secure practices to customers.

Security 203

Security Insurance Cybersecurity Customer Experience 203

IT Governance

DECEMBER 14, 2021

With organisations’ cyber security requirements becoming more complex and the threat of cyber attacks growing each year, many decision-makers are turning towards cyber security as a service. This approach, also known as managed cyber security, works by outsourcing cyber security to a third party. You’ll save money.

Security 131

Security Insurance Data breaches Information Security 131

Hunton Privacy

SEPTEMBER 21, 2023

The publication offers general guidance on issues including what entities the specific laws and regulations cover, the measures covered entities can adopt to maintain the privacy and security of consumers’ health information, and the steps entities must take in the event of a data breach.

Privacy 74

Privacy Data Privacy Security Insurance 74

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.

Insurance 60

Insurance Security Cybersecurity Data breaches 60

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.

Insurance 70

Insurance Cybersecurity Risk Education 70

Hunton Privacy

OCTOBER 14, 2019

Recent headlines underscore the security challenges faced by public-facing businesses. The SAFETY Act, administered by the Department of Homeland Security, is coming of age as an important tool to reduce risk and limit liability. Bruce Cohen, SVP, Client Executive, Lockton Companies. Kevin Jones , Partner, Hunton Andrews Kurth.

Insurance 49

Insurance Security Retail Risk 49

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. In my new book -- out in September -- I write: There are challenges to creating these new insurance products. There are two basic models for insurance.

Insurance 49

Insurance Cybersecurity Data breaches Retail 49

Hunton Privacy

JULY 1, 2022

(“Carnival”), the world’s largest cruise-ship operator, for violations of the Cybersecurity Regulation (23 NYCRR Part 500) in connection with four cybersecurity events between 2019 and 2021, including two ransomware events. . NYDFS also found that Carnival had failed to implement basic protocols to prevent data breaches.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

Hunton Privacy

NOVEMBER 27, 2017

As discussed at the event and in the article, Sotto explained that “the cyber environment has just exploded…We could not have predicted this five years ago. Sponsors for the event included Stroz Friedberg, Pal Alto Networks and Egon Zehnder. For a recap of the event, read the full Securityroundtable.org article.

Insurance 45

Insurance Privacy Cybersecurity Risk 45

Krebs on Security

JANUARY 29, 2021

The unprecedented volume of unemployment insurance fraud witnessed in 2020 hasn’t abated, although news coverage of the issue has largely been pushed off the front pages by other events. Another 17 percent of claims — nearly $20 billion more – are suspected fraud. In a notice posted Jan. 28 , the U.S.

Insurance 301

Insurance Personal data Authentication IT 301

IT Governance

FEBRUARY 22, 2022

Information security management is a way of protecting an organisation’s sensitive data from threats and vulnerabilities. The process is typically embedded via an ISMS (information security management system) , which provides the framework for managing information security. Why is information security management important?

Information Security 138

Information Security Security Data breaches Risk 138

Hunton Privacy

OCTOBER 10, 2018

As reported on the Insurance Recovery Blog , Hunton Andrews Kurth insurance practice head Walter Andrews recently commented to the Global Data Review regarding the infirmities underlying an Orlando, Florida federal district court’s ruling that an insurer does not have to defend its insured for damage caused by a third-party data breach.

Insurance 57

Insurance Data breaches IT Cybersecurity 57

IT Governance

JUNE 15, 2022

In an increasingly digital world, there are an escalating number of cyber security risks for business to address. IT Governance identified more than 1,200 publicly disclosed data breaches in 2021 , while another report found that security incidents cost almost £3 million on average. Poor patch management. Weak passwords.

Risk 144

Risk Security Passwords Phishing 144

The Last Watchdog

APRIL 8, 2024

Related: The ‘cyber’ case for D&O insurance Vanessa Pegueros knows this all too well. Thus, presenting a sky-is-falling scenario to justify a fatter security budget, “does not resonate at the board level,” she said in her talk. Pigueros: Compliance is not going to fix all the security risks.

Compliance 210

Compliance Cybersecurity Risk Mining 210

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.

Insurance 40

Insurance Cybersecurity Data breaches Financial Services 40

The Last Watchdog

OCTOBER 29, 2018

The headlines immediately attempted to lay the blame, in large part, on the fact that Equifax’s chief information security officer was a music major and did not have a background in technology. The FTC considers that ‘reasonable security’ doesn’t mean ‘perfect security.’ Even the best security program is not bulletproof.

Security 164

Security Data Privacy Privacy Data breaches 164

Krebs on Security

DECEMBER 8, 2022

Alex Holden is founder of Hold Security , a Milwaukee-based cybersecurity firm. The CLOP members said one tried-and-true method of infecting healthcare providers involved gathering healthcare insurance and payment data to use in submitting requests for a remote consultation on a patient who has cirrhosis of the liver.

Ransomware 261

Ransomware Metadata Insurance Encryption 261

Security Affairs

JUNE 12, 2023

In February, the Clop ransomware group claimed to have stolen sensitive data from over 130 organizations by exploiting a zero-day vulnerability ( CVE-2023-0669 ) in Fortra’s GoAnywhere MFT secure file transfer tool. ITx promptly launched an investigation to determine the nature and scope of the Fortra Event.

Data breaches 91

Data breaches Ransomware Insurance Data Privacy 91

eSecurity Planet

APRIL 29, 2024

In our examples, the clothing brand secures a segregated design team with physical locks on the doors, extra computer security to prevent digital theft, and a backup solution for their marketing data. These include new opportunities, clear priorities, and better security, performance, and resilience.

Risk 67

Risk Compliance Communications Insurance 67

DLA Piper Privacy Matters

MAY 17, 2018

DLA Piper and Aon have launched a guide ‘ The price of data security ‘, ahead of the General Data Protection Regulation (GDPR), effective from 25 May 2018. The guide reviews the insurability of GDPR fines across Europe, which can reach up to €20 million or, if higher, up to 4% of a group’s annual global turnover.

Insurance 45

Insurance GDPR Data breaches Personal data 45

Thales Cloud Protection & Licensing

APRIL 18, 2023

RSA Conference 2023: Meet Thales Where the World Talks Security! Live Sessions With this in mind, we have scheduled a host of events and tech talks around our participation at RSA Conference 2023. Security teams must build quantum resilience today to protect their business from emerging risks.

Security 71

Security Digital transformation Privacy Cybersecurity 71

Adam Levin

JUNE 25, 2018

South Carolina became the first state to pass a law requiring all insurance entities to create and maintain a cybersecurity and data breach response program. . The law itself was drafted by the National Association of Insurance Commissioners’ Cybersecurity Working Group, and was adapted from a similar proposal in New York.

Insurance 40

Insurance Cybersecurity Data breaches Government 40

eSecurity Planet

OCTOBER 18, 2021

The legal complaint [PDF] notes that on July 9, 2019, the day it was hit by a ransomware attack, Springhill Memorial Hospital contended that the event had “not affected patient care.” ” Cyber Insurance No Longer Reliable. Also read: Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs. .

Ransomware 102

Ransomware Insurance Digital transformation Cybersecurity 102

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.

Insurance 91

Insurance Government Cybersecurity Risk 91

IT Governance

SEPTEMBER 13, 2022

It’s why many experts recommend taking a defence-in-depth approach to cyber security. . The basis of all cyber security defence programmes is threat detection. This approach identifies security vulnerabilities in computers, internal and external networks, and communications equipment. Stage 1: Detection. Stage 2: Protection.

Risk 110

Risk Security Data breaches Phishing 110