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Feds Seize LockBit Ransomware Websites, Offer Decryption Tools, Troll Affiliates

Krebs on Security

Instead of listing data stolen from ransomware victims who didn’t pay, LockBit’s victim shaming website now offers free recovery tools, as well as news about arrests and criminal charges involving LockBit affiliates. The DOJ today unsealed indictments against two Russian men alleged to be active members of LockBit.

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Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

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 and Ransomware

Schneier on Security

Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals. Often, that’s paying the ransom.

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NYDFS issues significant guidance on insurers using AI or external data

Data Protection Report

On January 17, 2024 the New York Department of Financial Services (“NYDFS”) published a Proposed Insurance Circular Letter (“Proposed Circular”) regarding the use of artificial intelligence systems (“AIS”) and external consumer data and information sources (“ECDIS”) in insurance underwriting and pricing. Actual Actuarial Validity.

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The risks and limitations of AI in insurance

IBM Big Data Hub

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.

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Is Artificial Intelligence relevant to insurance?

IBM Big Data Hub

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.

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Experts: Breach at IT Outsourcing Giant Wipro

Krebs on Security

The source also said Wipro is now telling concerned clients about specific “indicators of compromise,” telltale clues about tactics, tools and procedures used by the bad guys that might signify an attempted or successful intrusion. Wipro has refused to respond to questions about the alleged incident. On Friday, Apr.

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