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Cybersecurity Insurance Not Paying for NotPetya Losses

Schneier on Security

This will complicate things: To complicate matters, having cyber insurance might not cover everyone's losses. Zurich American Insurance Company refused to pay out a $100 million claim from Mondelez, saying that since the U.S.

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A massive DDoS attack took down the site of the German financial agency BaFin

Security Affairs

It is not clear who is behind the DDoS attack, but the media speculate that it was launched by pro-Russian hacktivists in response to the German financial and military support to Ukraine. The BaFin is responsible for overseeing banks, insurance companies, investment firms, and other financial institutions.

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Security Affairs newsletter Round 460 by Pierluigi Paganini – INTERNATIONAL EDITION

Security Affairs

Iran Crisis Russia-Aligned TAG-70 Targets European Government and Military Mail Servers in New Espionage Campaign U.S.

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China: Navigating China episode 18: Increased scrutiny over connected car and automobile industry data from Chinese regulators, including push towards data localisation

DLA Piper Privacy Matters

Increased scrutiny over connected car and automobile industry data from Chinese regulators, including push towards data localisation. Data localisation of personal information and important data: the regulators expect personal information and important data of the automobile industry to be processed and stored in Mainland China.

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New Connecticut Breach Notification Requirements and Cybersecurity Safe Harbor Effective October 2021

Hunton Privacy

The newly passed laws modify Connecticut’s existing breach notification requirements and establish a safe harbor for businesses that create and maintain a written cybersecurity program that complies with applicable state or federal law or industry-recognized security frameworks. New Breach Notification Requirements (HB 5310).

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NEW TECH: DataLocker introduces encrypted flash drive — with key pad

The Last Watchdog

A chance meeting – in an elevator, no less – led to Kim veering over to the cybersecurity industry. DataLocker honed its patented approach to manufacturing encrypted portable drives and landed some key military and government clients early on; the company has continued branching out ever since. LW: Makes sense. and are TAA compliant.

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A Cyber Insurance Backstop

Schneier on Security

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.