Remove Government Remove Insurance Remove Security Remove Survey
article thumbnail

Why Cyber Insurance is Essential in 2022

IT Governance

Organisations must always look for cost-effective ways to address the cyber security risks they face. With more than 1,200 publicly disclosed data breaches last year , and organisations spending almost £3 million on average responding to security incidents , effective risk management is a top priority. The benefits of cyber insurance.

Insurance 137
article thumbnail

The False Economy of Deprioritising Security

IT Governance

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
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why

Rocket Software

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.

article thumbnail

Government survey reveals GDPR awareness is falling short

IT Governance

The Cyber Security Breaches Survey 2018 from the Department for Digital, Culture, Media and Sport (DCMS) has revealed that only 38% of businesses and 44% of charities have heard of the General Data Protection Regulation (GDPR). This is a worrisome finding, as it is only a matter of months until the new Regulation is enforced.

GDPR 63
article thumbnail

New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

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.

article thumbnail

The Week in Cyber Security and Data Privacy: 30 October – 5 November 2023

IT Governance

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. Boeing is “assessing the claim”.

article thumbnail

New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

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.