IBM Big Data Hub

MAY 1, 2023

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Soon after, AI’s capabilities extended to Speech and Natural Language processing, such as with IBM Watson, and for Image Recognition, which is now ubiquitously used for unlocking phones and other biometric security.

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Artificial Intelligence Insurance Risk Personal data 79

eSecurity Planet

JANUARY 5, 2024

It aims to prevent unauthorized access, manage data movement, and guard against potential security threats. When creating the firewall policy draft, these elements make up a detailed set of rules and guidelines controlling the use, management, and security configurations of a firewall inside an organization.

Compliance 84

Compliance Access Communications Cybersecurity 84

Thales Cloud Protection & Licensing

MAY 26, 2023

CIAM in insurance: A unified, secure user experience with a single login madhav Fri, 05/26/2023 - 07:33 In recent years, the insurance industry has transformed from a singularly focused entity to a multi-brand or multi-service type of business. Adding value to the user experience (a top priority for 59% of insurers) 2.

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Insurance Digital transformation Security Authentication 71

IT Governance

OCTOBER 15, 2020

Cyber threats are so numerous that it’s impossible to prevent security incidents altogether. That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? What is cyber insurance?

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eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks. That’s a 29.1%

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Insurance Ransomware Cybersecurity Marketing 97

IBM Big Data Hub

MAY 8, 2023

In my previous post , I described the different capabilities of both discriminative and generative AI, and sketched a world of opportunities where AI changes the way that insurers and insured would interact. One example of this is facial recognition being used for the illegal tracking of people’s movement.

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Insurance Risk Artificial Intelligence Government 70

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

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Insurance Risk Cybersecurity Ransomware 78

Security Affairs

FEBRUARY 21, 2023

Recently emerged HardBit ransomware gang adjusts their demands so the insurance company would cover the ransom cost. For those who have cyber insurance against ransomware attacks. But since the sneaky insurance agent purposely negotiates so as not to pay for the insurance claim, only the insurance company wins in this situation.

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IT Governance

AUGUST 25, 2022

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

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Insurance IT Government Risk 105

Krebs on Security

JULY 21, 2023

But one aspect of that vaunted list that hasn’t shifted much since is that very few of these companies list any security professionals within their top executive ranks. For example, 88 percent listed a Director of Human Resources (or “Chief People Officer”), and 37 out of 100 included a Chief Marketing Officer.

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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

DLA Piper Privacy Matters

MARCH 27, 2023

LOPMI introduces amendments to the insurability of losses and damages paid in response to cyber-attacks, including in relation to ransom payments – requiring that the payment of insurance compensation be conditional on the filing of a complaint, within a 72 hour time frame, to competent authorities.

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Insurance Risk Ransomware Cybersecurity 52

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. For example, think of digital cities, or digital infrastructure assets. Another example is a city using a digital twin so that they can model floods or earthquakes.

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Security Artificial Intelligence Risk Cybersecurity 210

eSecurity Planet

AUGUST 9, 2022

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR (among other legal requirements in the EU and elsewhere) can expose multinational organizations to hefty financial penalties, additional rules for disclosing data breaches, and increased scrutiny of the adequacy of their data security.

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Data Privacy Compliance Privacy Security 139

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.

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Insurance Cybersecurity Risk Education 70

Collibra

APRIL 9, 2021

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. Drivers for cloud adoption. Mobilizing data governance programs.

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Insurance Cloud Data science Analytics 59

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.

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Insurance Data breaches Risk Information Security 89

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?

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Information Security Security Data breaches Risk 138

Krebs on Security

OCTOBER 28, 2020

In March 2020, KrebsOnSecurity alerted Swedish security giant Gunnebo Group that hackers had broken into its network and sold the access to a criminal group which specializes in deploying ransomware. The company has operations in 25 countries, more than 4,000 employees, and billions in revenue annually. Acting on a tip from Milwaukee, Wis.-based

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Krebs on Security

AUGUST 14, 2020

The “RCM” portion of its name refers to “revenue cycle management,” an industry which tracks profits throughout the life cycle of each patient, including patient registration, insurance and benefit verification, medical treatment documentation, and bill preparation and collection from patients.

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Ransomware Insurance Phishing IT 358

Krebs on Security

MAY 23, 2020

Secret Service warned of “massive fraud” against state unemployment insurance programs , noting that false filings from a well-organized Nigerian crime ring could end up costing the states and federal government hundreds of millions of dollars in losses. Meanwhile, a number of U.S. Last week, the U.S. ” STATE WEB SITE WOES.

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Insurance Government Personal data Communications 321

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

Lenny Zeltser

JULY 1, 2020

To achieve this, the scammer: Obtains the victim’s personal information , including name, date of birth, social security number, address, and probably employment history. I wrote this article to help other victims of this unemployment insurance fraud and identity theft scam. I believe in this scheme.

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Insurance Data breaches Government IT 116

eSecurity Planet

FEBRUARY 14, 2023

I remember the first time we were asked for a SOC 2 report, which quickly became the minimum bar requirement in our industry for proof of an effective security program,” he said. The vision was to automate security and compliance across 14 frameworks, including SOC 2, ISO 27001, HIPAA and GDPR. Growth has definitely been robust. “Our

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Compliance Security Cybersecurity Marketing 96

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.

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Compliance Cybersecurity Risk Mining 166

IT Governance

MAY 30, 2018

A report published by research and consultancy company Celent highlights the challenges that the GDPR presents to insurers. Insurers are data controllers: a person, public authority, agency or body that determines the purpose of processing personal data. Steps insurers should take to become GDPR compliant.

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Insurance GDPR Compliance Data collection 49

IT Governance

SEPTEMBER 15, 2021

A UK government report published last year found that 48% of organisations lacked the expertise to complete routine cyber security practices. The report also found that 30% of organisations had skills gaps in more advanced areas, such as penetration testing, forensic analysis and security architecture.

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Krebs on Security

DECEMBER 18, 2018

Virtually all companies like to say they take their customers’ privacy and security seriously, make it a top priority, blah blah. That’s because very few of the world’s biggest companies list any security executives in their highest ranks. banks) would have this role in their executive leadership team.

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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

Krebs on Security

JUNE 4, 2019

Securities and Exchange Commission , LabCorp. AMCA has advised LabCorp that Social Security Numbers and insurance identification information are not stored or maintained for LabCorp consumers.” credit card numbers and bank account information), medical information and Social Security Numbers. ” ANALYSIS.

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Insurance Data Privacy Access Security 241

Thales Cloud Protection & Licensing

MARCH 22, 2023

5 Ways CIAM Ensures a Seamless and Secure Customer Experience divya Thu, 03/23/2023 - 05:27 In today's digital-first world, providing customers with trustworthy, hassle-free interactions is critical to business success. Let’s consider the following example.

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Customer Experience Security Authentication Privacy 71

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

Security Affairs

JULY 21, 2021

Experts found a DB containing sensitive health insurance data belonging to customers of US insurance giant Humana. An SQL database containing what appears to be highly sensitive health insurance data of more than 6,000 patients has been leaked on a popular hacker forum. What was leaked? Drug prescription listings).

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Insurance Passwords Libraries Access 109

CGI

JANUARY 10, 2018

Envisioning new and hidden realities with data and augmented reality—a digital “twin city” example. Also growing at the same time is the need to store, secure, access and analyze this data. For example, a supermarket that makes home grocery deliveries has empty vehicles returning from those deliveries. Wed, 01/10/2018 - 15:25.

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Mining Big data Access Insurance 78

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. The First Calls After an Attack.

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eSecurity Planet

MARCH 18, 2022

Many security professionals think that if they have done the hard work of securing their organization, that should be enough. Even though drafting IT security policies can be a pain, formal policies provide a valuable resource to protect both the IT team and their organization. Written security policies.

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IT Compliance Security Access 114

Krebs on Security

AUGUST 17, 2023

Security experts investigating 16Shop found the service used an application programming interface (API) to manage its users, an innovation that allowed its proprietors to shut off access to customers who failed to pay a monthly fee, or for those attempting to copy or pirate the phishing kit. Image: Akamai.

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