IBM Big Data Hub

MAY 9, 2024

The healthcare industry faces arguably the highest stakes when it comes to data governance. The impact of healthcare data usage on people’s lives lies at the heart of why data governance in healthcare is so crucial.In healthcare, managing the accuracy, quality and integrity of data is the focus of data governance.

Government 69

Government GDPR Compliance Analytics 69

eSecurity Planet

APRIL 29, 2024

Integrated risk management (IRM) is a discipline designed to embed risk considerations for the use of technology throughout an organization. In other words, it links technology spending directly to the value of the resource protected and the associated risks controlled by that technology.

Risk 67

Risk Compliance Communications Insurance 67

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

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. Academia is in an uproar over originality of authorship, and governments have even started to outlaw its general use. In the late 18 th century, The Turk, a chess playing machine captured the attention of the world.

Artificial Intelligence 85

Artificial Intelligence Insurance Risk Personal data 85

IT Governance

OCTOBER 15, 2020

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? How does cyber insurance work? What does a cyber insurance policy cover? Who needs cyber insurance?

Insurance 122

Insurance Data breaches Risk Security 122

Data Protection Report

AUGUST 29, 2022

On July 13, 2022, the Office of the Superintendent of Financial Institutions (OSFI) released its final Guideline B-13 (the Guideline), setting out technology and cyber risk management expectations for all federally regulated financial institutions (FRFIs), such as banks, insurance and trust companies. Read the full update here.

Risk 116

Risk Insurance Cybersecurity Government 116

IBM Big Data Hub

DECEMBER 4, 2023

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

Insurance 56

Insurance Digital transformation Compliance Cloud 56

IT Governance

OCTOBER 11, 2022

That’s a problem when cyber risks are constantly evolving, as is the way your organisation operates. It’s why organisations must manage the risks they face with continual evaluation, maintenance and revision. Managing cyber security risks requires a more intensive approach than simply implementing basic protections.

Risk 124

Risk GDPR Information Security Personal data 124

IBM Big Data Hub

MARCH 27, 2024

As businesses make plans to mitigate climate risks such as extreme weather events, they have an opportunity to innovate with new business models and demonstrate leadership by implementing more sustainable practices. What is climate risk? Substantial repair costs might arise, particularly impacting insurance companies.

Risk 68

Risk Artificial Intelligence Agriculture Financial Services 68

Hunton Privacy

DECEMBER 4, 2023

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

Financial Services 64

Financial Services Insurance Data breaches Cybersecurity 64

Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. For many years, organizations had limited options for addressing data protection risks. A company could never eliminate risk, but they could try to reduce or mitigate it. The function of cybersecurity insurance. The function of cybersecurity insurance.

Insurance 71

Insurance Cybersecurity Cleanup Ransomware 71

eSecurity Planet

FEBRUARY 11, 2022

Risk management is a concept that has been around as long as companies have had assets to protect. The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. What is Cybersecurity Risk Management? Setting Up Your Risk Management System.

Risk 127

Risk Cybersecurity Encryption Access 127

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

Krebs on Security

JUNE 15, 2023

government agency in charge of improving the nation’s cybersecurity posture is ordering all federal agencies to take new measures to restrict access to Internet-exposed networking equipment. The directive comes amid a surge in attacks targeting previously unknown vulnerabilities in widely used security and networking appliances.

Risk 213

Risk Ransomware Cybersecurity Access 213

Schneier on Security

JANUARY 25, 2022

The insurance company Ace American has to pay for the losses: On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute. Merck suffered US$1.4 Merck suffered US$1.4

Insurance 71

Insurance Risk Government IT 71

IBM Big Data Hub

DECEMBER 8, 2023

.” This same sentiment can be true when it comes to a successful risk mitigation plan. The only way for effective risk reduction is for an organization to use a step-by-step risk mitigation strategy to sort and manage risk, ensuring the organization has a business continuity plan in place for unexpected events.

Risk 75

Risk Compliance Insurance IT 75

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.

Insurance 71

Insurance Digital transformation Security Authentication 71

Krebs on Security

OCTOBER 1, 2020

federal government if the crooks who profit from the attack are already under economic sanctions, the Treasury Department warned today. government, they still can be fined either way, said Ginger Faulk , a partner in the Washington, D.C. Image: Shutterstock. jurisdiction) and making it a crime to transact with them.

Ransomware 361

Ransomware Insurance Risk Government 361

The Last Watchdog

APRIL 8, 2024

Related: The ‘cyber’ case for D&O insurance Vanessa Pegueros knows this all too well. She serves on the board of several technology companies and also happens to be steeped in cyber risk governance. Pigueros: Compliance is not going to fix all the security risks.

Compliance 210

Compliance Cybersecurity Risk Mining 210

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. Data governance holds key to cloud migration.

Insurance 59

Insurance Cloud Data science Analytics 59

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.

Insurance 79

Insurance Financial Services Cybersecurity Risk 79

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.

Insurance 70

Insurance Cybersecurity Risk Education 70

eSecurity Planet

JANUARY 21, 2021

Governance, risk, and compliance (GRC) software helps businesses manage all of the necessary documentation and processes for ensuring maximum productivity and preparedness. It includes multi-disciplinary risk and compliance management solutions and tools, including: IT & security risk management. Audit management.

Compliance 57

Compliance Risk Government Retail 57

AIIM

NOVEMBER 23, 2021

Back in 2017, I called up a few of the information governance friends I’d made through the AIIM Community to better understand the challenges they were up against. Four years later, we're finally seeing this shift in governance mindsets in nearly every AIIM member organization we speak with. Let's dive in! Customer, customer, customer!

Information governance 115

Information governance Government Customer Experience Archiving 115

Data Protection Report

OCTOBER 17, 2022

In July of this year, the Office of the Superintendent of Financial Institutions (OSFI) released the final version of its Guideline B-13 (the Guideline), setting out technology and cyber risk management expectations for all federally regulated financial institutions (FRFIs), such as banks, insurance and trust companies.

Risk 63

Risk Insurance Cybersecurity Government 63

Krebs on Security

JUNE 18, 2021

The SEC says First American derives nearly 92 percent of its revenue from its title insurance segment, earning $7.1 Title insurance protects homebuyers from the prospect of someone contesting their legitimacy as the new homeowner. Title insurance is not mandated by law, but most lenders require it as part of any mortgage transaction.

Insurance 280

Insurance Risk Financial Services Mining 280

Rocket Software

MARCH 14, 2022

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Scanning paper documents is a manual, time consuming process with high labor and hardware costs.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

IT Governance

NOVEMBER 17, 2022

The Australian health insurance giant fell victim to ransomware in October, as a result of which the personal data of 9.7 Health data, by contrast, enables attackers to operate under the radar, typically to commit health insurance fraud. million current and former customers was compromised. The extent of the damage.

IT 107

IT Ransomware Security Data breaches 107

eSecurity Planet

AUGUST 27, 2021

In a developing market, third-party risk management (TPRM) software and tools could be the answer to helping organizations fill the gap. This article looks at the top third-party risk management vendors and tools and offers a look into TPRM solutions and what buyers should consider before purchasing. Aravo TPRM.

Risk 130

Risk Compliance Marketing Cybersecurity 130

Data Protection Report

OCTOBER 3, 2021

The amendment: Expands the definition of “personal information”; Shortens the notification deadline after discovery of a breach from 90 to 60 days; Removes the requirement to consult with law enforcement as part of a risk assessment; Deems compliant any person subject to and in compliance with HIPAA and HITECH; and.

Data breaches 142

Data breaches IT Insurance Passwords 142

IT Governance

SEPTEMBER 13, 2022

The framework consists of five interrelated stages (or ‘layers’) to mitigate the risk of data breaches: detection, protection, management, response and recovery. . It’s only by understanding the threats you face and where your cyber defences are most at risk that you can implement appropriate defences. . Stage 1: Detection.

Risk 110

Risk Security Data breaches Phishing 110

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.

Insurance 89

Insurance Data breaches Risk Information Security 89

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

Daymark

DECEMBER 5, 2023

On October 30, 2023, the US Securities and Exchange Commission (SEC) announced fraud charges against SolarWinds and its former chief information security officer (CISO), alleging that “ SolarWinds’ public statements about its cybersecurity practices and risks were at odds with its internal assessments.”

Insurance 62

Insurance Cybersecurity Risk Information Security 62

The Last Watchdog

SEPTEMBER 14, 2018

It’s easy to think of it as a problem the federal government must address or something that enterprises deal with, but cybersecurity has to be addressed closer to home, as well. His company supplies a co-managed SIEM service to mid-sized and large enterprises, including local government agencies. Here are key takeaways: Local risks.

Government 147

Government Digital transformation Mining Insurance 147

The Last Watchdog

JANUARY 30, 2019

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

Risk 147

Risk Financial Services Insurance Cybersecurity 147

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.

Insurance 103

Insurance Security Cybersecurity Information Security 103