Data Matters

OCTOBER 20, 2022

Treasury Department is seeking public comment on the need and scope for a potential federal insurance response to catastrophic cyber incidents, akin to the one put in place for terrorism insurance after the attacks of September 11, 2001. The request, published by the Federal Insurance Office (FIO) in the U.S. Background.

Insurance 88

Insurance Marketing Cybersecurity Risk 88

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. Artificial intelligence (AI) is polarizing. It excites the futurist and engenders trepidation in the conservative.

Insurance 71

Insurance Risk Artificial Intelligence Government 71

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.

Artificial Intelligence 80

Artificial Intelligence Insurance Risk Personal data 80

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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Insurance Data breaches Risk Security 122

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 127

Insurance Ransomware Risk Data science 127

IT Governance

MARCH 20, 2024

In the UK, cyber security has been dropping down the board’s list of priorities. The UK government’s Cyber Security Breaches Survey 2023 confirms this trend. Fewer directors, trustees and other senior managers of both UK businesses and charities see cyber security as a high priority in 2023 compared to 2022.

Security 116

Security Data breaches Government Insurance 116

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

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

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. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. regulations.

Insurance 71

Insurance Cybersecurity Cleanup Ransomware 71

Krebs on Security

APRIL 15, 2019

The security experts said Wipro’s customers traced malicious and suspicious network reconnaissance activity back to partner systems that were communicating directly with Wipro’s network. “Wipro has a multilayer security system,” the company wrote. On Friday, Apr.

IT 259

IT Insurance Communications Phishing 259

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 68

Insurance Risk Government IT 68

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

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

Security Affairs

FEBRUARY 25, 2024

Every week the best security articles from Security Affairs are free for you in your email box. Iran Crisis Russia-Aligned TAG-70 Targets European Government and Military Mail Servers in New Espionage Campaign U.S. A new round of the weekly SecurityAffairs newsletter arrived!

Military 95

Military Security Ransomware Insurance 95

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

Collibra

JUNE 23, 2023

Government agencies — from DC to Duluth, NYC to LA — are struggling. The ever-growing digitalization of our world has raised significant concerns about data privacy and security, particularly for agencies that manage and process sensitive and confidential information. There’s no going back.

Privacy 107

Privacy Government Data Privacy Data breaches 107

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

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 358

Ransomware Insurance Risk Government 358

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. Challenges to Effective IDP.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

Krebs on Security

MAY 23, 2020

When a reliable method of scamming money out of people, companies or governments becomes widely known, underground forums and chat networks tend to light up with activity as more fraudsters pile on to claim their share. And that’s exactly what appears to be going on right now as multiple U.S. Meanwhile, a number of U.S.

Insurance 323

Insurance Government Personal data Communications 323

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

Ransomware 337

Ransomware Security Agriculture Cybersecurity 337

Security Affairs

APRIL 8, 2024

Greylock McKinnon Associates (GMA) provides expert economic analysis and litigation support to a diverse group of domestic and international clients in the legal profession, the business community, and government agencies, including the Department of Justice (DoJ). “Greylock McKinnon Associates, Inc.

Data breaches 110

Data breaches Insurance Cybersecurity Government 110

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.

Data Privacy 139

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. sought coverage for expenses under its property insurance policy.

Insurance 70

Insurance Cybersecurity Risk Education 70

Security Affairs

APRIL 4, 2024

email address, phone number), date of birth, social security number, driver’s license or other government identification, financial details (e.g., email address, phone number), date of birth, social security number, driver’s license or other government identification, financial details (e.g., medical record number).”

Data breaches 99

Data breaches Insurance Government Security 99

Krebs on Security

JANUARY 23, 2019

federal government shutdown is having a tangible, negative impact on cybercrime investigations, according to interviews with federal law enforcement investigators and a report issued this week by a group representing the interests of FBI agents. As a nation, we are much less safe from a cyber security posture than we were a month ago.”

Security 253

Security Government Insurance Cybersecurity 253

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

IT Governance

NOVEMBER 6, 2023

When MOVEit was hacked by the Russian Cl0p ransomware gang in May, email addresses and links to government employee surveys were compromised. It secured its systems, notified law enforcement and began investigating the incident. Records breached: 815,000,000 Milford Management Corp.

Data Privacy 97

Data Privacy Privacy Libraries Security 97

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.

Risk 144

Risk Security Passwords Phishing 144

Data Protection Report

OCTOBER 3, 2021

Provides certain exemptions from public disclosure for materials provided to the state in response to an investigation of a breach of security. credit or debit card number, or any financial account number in combination with any required security code, access code or password that would permit access to such financial account.

Data breaches 142

Data breaches IT Insurance Passwords 142

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

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. CISOs can sometimes be their own worst enemy, especially when it comes to communicating with the board of directors.

Compliance 166

Compliance Cybersecurity Risk Mining 166

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.

Insurance 89

Insurance Data breaches Risk Information Security 89

IT Governance

OCTOBER 24, 2023

Breached organisation: BHI Energy, providing staffing solutions to the nuclear, fossil, wind, hydro and government energy markets. Incident details: Network security incident, where allegedly AlphV gained unauthorised access and made demands to the hospital’s leadership, suggesting a ransomware attack. This includes employee data.

Data Privacy 107

Data Privacy Privacy Security Data breaches 107

Security Affairs

JULY 8, 2019

Government computer systems at La Porte County, Indiana, were shut down after a cyber attack hit them on July 6. On July 6, a cyber attack brought down government computer systems atLa Porte County, Indiana. Experts believe it was a ransomware attack. ” Kora added.

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Government Insurance Ransomware Cybersecurity 88

IT Governance

JUNE 9, 2022

Organisations that are looking to bolster their information security practices are often advised to certify to Cyber Essentials – and for good reason. The UK government scheme outlines five controls that cover the core data protection components. This helps the organisation analyse incoming traffic and block anything malicious.

Security 119

Security Insurance Information Security Data breaches 119

Krebs on Security

JUNE 18, 2021

Securities and Exchange Commission settled its investigation into the matter after the Fortune 500 company agreed to pay a paltry penalty of less than $500,000. The SEC says First American derives nearly 92 percent of its revenue from its title insurance segment, earning $7.1 This week, the U.S. First American Financial Corp.

Insurance 265

Insurance Risk Financial Services Mining 265