Data Breach Today

MARCH 9, 2023

Target Does Not Appear to Have Deliberately Targeted Members of Congress A hacker has been selling data stolen from an online health insurance marketplace used by members of Congress and residents of Washington, D.C. The cause size and scope of the breach are still unknown.

Insurance 248

Insurance Marketing 248

The Last Watchdog

JULY 27, 2023

New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyber insurance program with new MGA, Converge, acting as program administrator. Tom Kang, CEO, Converge, added, “We’re thrilled to partner with QBE North America given their experience and reputation in the cyber insurance market.

Insurance 167

Insurance Risk Security Cybersecurity 167

Data Breach Today

NOVEMBER 8, 2022

Who is attempting to extort Australian health insurer Medibank, why did Medibank tell its attackers it wouldn't pay a ransom and will this deter future cyber extortionists? A Ransomware Group Has Given Medibank 24 Hours to Pay. But Medibank Says it Won't. Here are a few thoughts on the high cybercrime drama playing out.

Insurance 227

Insurance Ransomware IT 227

Data Breach Today

JUNE 15, 2021

As the cyberthreat landscape grows exponentially more complicated, the insurance industry is trying to keep pace. Yet, many organizations still lack cybersecurity insurance. Lynn Peachey, director of business development at Arete Incident Response, breaks down the basics of these insurance policies.

Insurance 279

Insurance Cybersecurity IT 279

Data Breach Today

OCTOBER 17, 2022

Apparent Spate of Australian Data Breaches Continues Australian health insurer Medibank told investors it stopped a probable ransomware attack before the attack could steal data or maliciously encrypt its systems.

Ransomware 235

Ransomware Insurance Data breaches Encryption 235

Data Breach Today

APRIL 21, 2022

Lynn Peachey, the director of business development at Arete Incident Response, says that insurance companies have made "a pretty quick turnaround in terms of trying to respond to the ransomware epidemic." She discusses the changes they are making, which include leveraging data quantification.

Insurance 236

Insurance Ransomware Security 236

Data Breach Today

APRIL 15, 2022

Declining Loss Ratios Means Insurance Premium Increases Might Moderate in Late 2022 A surprising improvement in loss ratios for cyber insurance providers in 2021 means the rapid rise in premiums might at last subside later this year.

Insurance 243

Insurance 243

Data Breach Today

AUGUST 11, 2022

Kelly Butler Says Underwriting Requirements Are Becoming More Strict Cyber insurance can defray costs associated with data breaches and ransomware attacks. But Kelly Butler of the advisory firm Marsh & McLennan says insurers are tightening their requirements for policies due to rising costs associated with increasingly severe incidents.

Insurance 194

Insurance Data breaches Ransomware 194

Data Breach Today

MARCH 27, 2020

Maze Gang Claims Insurer Is a Victim, Emsisoft Reports Switzerland-based global insurance firm Chubb acknowledges that it's investigating a "security incident." Meanwhile, the Maze ransomware gang is claiming Chubb is its latest victim, according to researchers at the security firm Emsisoft.

Insurance 263

Insurance Security Ransomware IT 263

Data Breach Today

MARCH 24, 2021

Investigation Continues; Law Enforcement Notified Insurance provider CNA reported Tuesday it was victimized over the weekend by a "cybersecurity attack" that caused a network disruption and impacted certain systems, including corporate email.

Cybersecurity 337

Cybersecurity Insurance IT 337

Dark Reading

JUNE 29, 2023

Now, if you've got an IoT network powered by Pepper, you can insure it through Embedded Insurance — even if your business is too small to support a SOC.

Insurance 93

Insurance IoT IT 93

Data Breach Today

MARCH 8, 2023

A French law requiring companies to report cyber incidents to authorities within 72 hours or lose their eligibility for cyber insurance reimbursement has practitioners scratching their heads. Should French Multinationals Report Breaches Outside France? Global companies with headquarters in France will have the most uncertainty, experts say.

Insurance 141

Insurance 141

Data Breach Today

JULY 29, 2021

Key Factors: Negotiating Lower Ransoms, Improving Recovery Cyber insurance provider Coalition Inc. says its clients' average claims for losses when they were hit by a ransomware attack totaled $184,000 in the first half of this year, down 45% compared to the second half of 2020.

Ransomware 325

Ransomware Insurance IT 325

Data Breach Today

MAY 24, 2021

GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office.

Insurance 229

Insurance Ransomware Government Education 229

Data Breach Today

NOVEMBER 21, 2019

Lawsuit Claims Insurer Owes Retailer for Coverage of Card Replacement Costs Target has filed a lawsuit against its long-time insurer, ACE American Insurance Co., in an attempt to recoup money it spent to replace payment cards as part of settlements over the retailer's massive 2013 data breach.

Data breaches 288

Data breaches Insurance Retail IT 288

Dark Reading

MARCH 30, 2023

Risk reassessment is shaking up the cybersecurity insurance market, leading some organizations to consider their options, including self-insurance.

Insurance 107

Insurance Cybersecurity Risk Marketing 107

Data Breach Today

APRIL 4, 2022

One Vendor Linked to Vast Majority of Connecticut Exchange's Incidents Access Health, Connecticut's health insurance exchange under the Affordable Care Act, experienced dozens of mostly small data breaches over about a 3 1/2-year period, and the vast majority involved one contractor, says an auditor report that recommends the exchange make improvements (..)

Insurance 205

Insurance Data breaches Security Access 205

Data Breach Today

JANUARY 31, 2023

Increased Competition and Capital Suggest Softening Market, Says Marsh Executive Premiums for cyber insurance have climbed sharply along with global rates of ransomware. But signs of increased competition and capital inflows suggest the cyber insurance market may be softening, Marsh executive Sara Stephens told a U.K.

Insurance 130

Insurance Ransomware Marketing 130

Data Breach Today

MARCH 18, 2021

Alleges Vendor Failed to Comply With Business Associate Agreement As the list of healthcare sector entities affected by the recent hacking of Accellion's File Transfer Appliance platform continues to grow, the technology vendor faces a lawsuit filed by one of its affected clients, health insurer Centene Corp.

Insurance 320

Insurance IT 320

Data Breach Today

MAY 25, 2021

based insurance firm One Call says its systems were disrupted by a ransomware attack May 13 and it's still working to restore them. Local Newspaper Says DarkSide Gang Suspected to Be Involved The U.K.-based A local newspaper, citing unnamed sources, says the DarkSide gang is suspected of being involved.

Ransomware 201

Ransomware Insurance IT 201

Data Breach Today

MAY 28, 2021

Also: Debating the Issue of Banning Ransom Payments In this week's panel discussion, four editors at Information Security Media Group discuss cyber insurance, persistent ransomware attacks and whether ransom payments should be banned.

Ransomware 205

Ransomware Insurance Information Security Security 205

Data Breach Today

MARCH 7, 2023

Nick Schneider Shares How His Firm Can Help Clients Prepare for a Security Incident Arctic Wolf has expanded its security operations platform into threat intelligence, incident response and cyber insurance, says CEO Nick Schneider.

Insurance 141

Insurance Security IT 141

Data Breach Today

MAY 17, 2021

Avaddon Ransomware Gang Claims Responsibility Asia Assistance, a subsidiary of Paris-based multinational insurance company AXA, was hit by a ransomware attack that affected its IT operations in Thailand, Malaysia, Hong Kong and the Philippines, the company reports.

Ransomware 261

Ransomware Insurance IT 261

Data Breach Today

JANUARY 23, 2023

In this episode of "Cybersecurity Unplugged," David Derigiotis of insurtech Embroker discusses the complex world of cyber liability insurance, including the collapse of crypto exchange FTX, recent breaches, and improvements in the cyber insurance industry.

Insurance 130

Insurance Cybersecurity 130

Data Breach Today

OCTOBER 14, 2022

Medibank Group Says No Evidence of Data Compromise Australian health insurer Medibank Group says it has found no evidence of data compromise following its Wednesday detection of unusual network activity. The company, which serves nearly 4 million Australians, restored access to its policy websites on Friday.

Insurance 141

Insurance Access IT 141

KnowBe4

SEPTEMBER 20, 2023

New data on the state of cyber insurance shows that it’s becoming more difficult to get a policy, and the organizations obtaining one share that circumstances could cause denial of claims.

Insurance 93

Insurance Cybersecurity 93

Data Breach Today

SEPTEMBER 29, 2022

Cyber Insurers Limit Financial Exposure While Risk Grows The Department of Treasury and the Cybersecurity and Infrastructure Agency are soliciting comments on whether risks to critical infrastructure from a catastrophic cyber attack - and the concurrent potential for ruinous financial exposure by insurers - should lead to a new federal approach.

Insurance 130

Insurance Government Cybersecurity Risk 130

Data Breach Today

JANUARY 26, 2023

insurers by the Bank of England found underwriters mostly withstood extreme cyber events. Exclusions and Reinsurance Bolster Resiliency to Extreme Cyber Risk A periodic stress test assessment of U.K.

Insurance 130

Insurance Risk IT 130

Data Breach Today

NOVEMBER 2, 2022

When A Cyberattack Is Cyberwar Still Being Litigated Five Years After NotPetya Wave Cookie and cracker giant Mondelez International settled litigation launched in 2018 against Zurich Insurance after the underwriter denied a claim for property damages stemming from the NotPetya malware wave.

Insurance 141

Insurance Healthcare IT 141

Data Matters

SEPTEMBER 7, 2023

The National Association of Insurance Commissioners (NAIC) held its Summer 2023 National Meeting (Summer Meeting) from August 12–16, 2023. The post Regulatory Update: National Association of Insurance Commissioners Summer 2023 National Meeting appeared first on Data Matters Privacy Blog.

Insurance 88

Insurance Artificial Intelligence Privacy Security 88

Daymark

AUGUST 15, 2023

A CISO Primer on Navigating Cyber Insurance After 10+ years of working with clients to negotiate and place cyber insurance, I’ve noticed that one of the most frequent challenges has always been getting the underwriters and my client’s information security stakeholder (like a CISO or CIO) to understand each other.

Insurance 52

Insurance Information Security Security Communications 52

Data Breach Today

NOVEMBER 25, 2020

Dennis Toomey explains why the industry must turn not only to sophisticated tools and technologies, but also unite around a strategy based on collaboration - in order to tackle insurance fraud.

Insurance 246

Insurance 246

Krebs on Security

MAY 16, 2020

A well-organized Nigerian crime ring is exploiting the COVID-19 crisis by committing large-scale fraud against multiple state unemployment insurance programs, with potential losses in the hundreds of millions of dollars, according to a new alert issued by the U.S. Secret Service.

Insurance 364

Insurance Security Government IT 364

Data Breach Today

DECEMBER 8, 2020

Expect to See Extortion and Social Engineering Attacks Excluded From More Policies Are insurers getting cold feet over covering losses to ransomware? With claims due to ransomware skyrocketing, some insurers have reportedly been revising offerings to make it tougher for companies claim for some types of cybercrime, including extortion.

Ransomware 204

Ransomware Insurance IT 204

Data Breach Today

DECEMBER 4, 2022

Accuro Says Claims Processing Affected, No Evidence of Data Breach New Zealand private health insurer Accuro says an investigation into a cyber incident at a third party IT infrastructure provider so far has not revealed evidence of a data breach affecting its 34,000 customers. Customers should expect delayed service in claims processing.

Insurance 130

Insurance Data breaches IT 130

Data Breach Today

APRIL 13, 2021

The Latest Victim: DC Blue Cross Blue Shield Plan A recent cyberattack on a Washington-based health plan, which the company believes was carried out by a foreign cybercrime group, is the latest in a series of hacking incidents targeting health insurers.

Insurance 163

Insurance 163

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. Artificial intelligence applied to insurance The insurance industry has always made extensive use of data and algorithms, such as in the calculation of insurance premiums.

Artificial Intelligence 78

Artificial Intelligence Insurance Risk Personal data 78