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Insurer Chubb Investigating 'Security Incident'
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."
Insurance Related Topics 
U.S. Secret Service: “Massive Fraud” Against State Unemployment Insurance Programs
Krebs on Security
MAY 15, 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.
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Target Sues Insurer Over 2013 Data Breach Costs
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.,
Cyber Insurance Changes as Threats Evolve
Data Breach Today
AUGUST 27, 2019
Ken Suh of Beazley on Assessing the Options In light of emerging cyberthreats, including ransomware, organizations must change how they assess their cyber insurance options, says Ken Suh of Beazley
On Cybersecurity Insurance
Schneier on Security
SEPTEMBER 10, 2019
Good paper on cybersecurity insurance: both the history and the promise for the future. From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present.
Achieving digital transformation in the insurance industry
OpenText Information Management
APRIL 22, 2019
Research has consistently shown that senior management within the insurance sector think digital transformation is critical to their business. Digital … The post Achieving digital transformation in the insurance industry appeared first on OpenText Blogs.
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How Cyber Insurance Is Changing in the GDPR Era
Data Breach Today
NOVEMBER 7, 2018
Privacy Breach Claims Are Rising, Says Thomas Clayton of Zurich Insurance Although the EU's General Data Protection Regulation only went into full effect on May 25, its mandatory privacy breach notifications are already having an effect on the cyber insurance marketplace, says Thomas Clayton of Zurich Insurance.
Will the Pandemic Complicate Cyber Insurance Claims?
Dark Reading
APRIL 27, 2020
While quarantined workers are keeping safe at home, they could be jeopardizing your insurance policy
Norsk Hydro Breach: Update on Insurance Coverage
Data Breach Today
NOVEMBER 4, 2019
So Far, Insurance Has Paid $3.6 million from its cyber insurer to cover expenses related to the LockerGoga ransomware attack it suffered in March that led to losses of $50 million to $71 million, the company revealed in its third quarter report
Insurer: Breach Undetected for Nine Years
Data Breach Today
JUNE 26, 2019
Dominion National Says Recently Discovered Incident Dates Back to 2010 A dental and vision insurer's revelation that it recently discovered a 9-year-old data security incident offers an extreme example of the difficulty some organizations have in detecting data breaches
Chinese Men Charged With Hacking Health Insurer Anthem
Data Breach Today
MAY 10, 2019
Million Individuals Was Encrypted, Sent to China, US Alleges Two Chinese men have been indicted on charges related to the breach of health insurer Anthem, which saw the personal information of 78.8 Data of 78.8
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Insurer Races to Fix Security Flaws After Whistleblower Alert
Data Breach Today
DECEMBER 16, 2019
Report: Blue Cross and Blue Shield Minnesota Had Thousands of Old 'Critical' Vulnerabilities Blue Cross and Blue Shield Minnesota is reportedly racing to address tens of thousands of security vulnerabilities after a whistleblower on the health insurer's security team alerted the company's board of trustees about the problems.
Cyber Insurance: The Myths and Realities
Data Breach Today
OCTOBER 31, 2019
Beazley's Mark Singer Demystifies the Growing Industry It's one thing to plan for a cybersecurity incident, but quite another to have proper insurance coverage to prepare for such an event. Mark Singer of Beazley shares an overview of the cyber insurance myths and realities
Judge Rules Insurer Must Pay for Ransomware Damage
Data Breach Today
JANUARY 31, 2020
Coverage Required Because Attack Caused 'Physical Loss or Damage' A federal judge has ruled that an insurer providing a "business owner's insurance policy" to a company that sustained a ransomware attack and was forced to replace most of its IT infrastructure must pay for the damages the security incident caused.
Insurance Giant Chubb Might Be Ransomware Victim
Dark Reading
MARCH 26, 2020
A ransomware operator claims to have successfully attacked Chubb Insurance databases
Cybersecurity Insurance
Schneier on Security
APRIL 12, 2018
Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. In my new book -- out in September -- I write: There are challenges to creating these new insurance products. There are two basic models for insurance.
Cyber Insurance: Important Lessons for New Markets
Data Breach Today
JANUARY 5, 2020
One of the major challenges for CISOs is on deciding the indemnity limit for cyber insurance, says Bhishma Maheshwari, executive vice president at Marsh India
Do Ransomware Attackers Single Out Cyber Insurance Holders?
Data Breach Today
SEPTEMBER 3, 2019
Security Experts Express Skepticism That Criminals Would Bother Do criminal organizations prefer to target organizations that hold cyber insurance policies? A ProPublica report suggests that because cyber insurance policyholders are more likely to pay ransoms, they're a more frequent target. But some cybersecurity experts have expressed skepticism
Ransomware and the Role of Cyber Insurance via Teach Privacy
IG Guru
APRIL 16, 2020
Professor Daneil Solove interviews Kimberly Horn about Cyber Insurance and Ransomeware here. The post Ransomware and the Role of Cyber Insurance via Teach Privacy appeared first on IG GURU.
Apple, Cisco Strike Partnerships for Cyber Insurance
Data Breach Today
FEBRUARY 6, 2018
Policies Offer Incentives for Good Information Security Practices Apple and Cisco say they've partnered with insurers Aon and Allianz to offer cyber insurance policies for organizations that meet best security practices and use products from the technology companies.
Cybersecurity Insurance Not Paying for NotPetya Losses
Schneier on Security
MARCH 8, 2019
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.
8 Top Cyber Insurance Vendors
eSecurity Planet
NOVEMBER 9, 2018
Cyber insurance is one more way to manage cybersecurity risk. Here are the top cyber insurance vendors that can help
How technology and professional trends are shaking up insurance
DXC Technology
MARCH 31, 2020
These trends resonate strongly across the insurance industry, which has undergone significant change […]. Insurance digital trends
Fraud Thrives in a Crisis - Why The Insurance Community Needs to Stay Vigilant
Data Breach Today
APRIL 21, 2020
The insurance community is bracing itself for a rise in the direct cost of claims - ranging from life insurance, to event cancellations and travel insurance Alongside the sad and vast expense of legitimate claims, it is an unfortunate fact that in times of economic hardship, people have a history of taking any opportunity to exploit financial institutions for ill-gotten gain
Artificial Intelligence Is Set to Rewrite the Rules of Insurance
InfoGoTo
DECEMBER 7, 2018
Few industries stand to gain as much by adopting artificial intelligence as insurance. Insurance companies rarely relate to their customers other than at the time of the claim, so making that experience as simple and productive as possible is key to customer retention.
GUEST ESSAY: Cyber insurance 101 — for any business operating in today’s digital environment
The Last Watchdog
JANUARY 20, 2020
To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities. Some coverage is inherently added to any cyber insurance policy.
5 Things to Know About Cyber Insurance
Dark Reading
AUGUST 15, 2019
More businesses are recognizing the need for cyber insurance as part of an overall security strategy. Here are some key points to consider when evaluating, purchasing, and relying on a policy
Cybersecurity Insurance: How Underwriting Is Changing
Data Breach Today
JUNE 18, 2018
Cybersecurity insurers, faced with growing demand, are looking for new ways to better measure their risks, says Aleksandr Yampolskiy, CEO of SecurityScorecard. So some are moving toward more carefully scrutinizing the cybersecurity postures of their potential clients
Insurers Collaborate on Cybersecurity Ratings
Dark Reading
MARCH 26, 2019
A group of insurers will base rates and terms on whether customers purchase technology that has earned a stamp of approval
First American Financial Corp. Leaked Hundreds of Millions of Title Insurance Records
Krebs on Security
MAY 24, 2019
The Web site for Fortune 500 real estate title insurance giant First American Financial Corp. based First American is a leading provider of title insurance and settlement services to the real estate and mortgage industries.
Property and Casualty Insurance needs modernizing
OpenText Information Management
NOVEMBER 13, 2017
Last year when I was in the process of buying a new house for my family, a home owners insurance company approached me and offered a good insurance policy. It was about the same price as others … The post Property and Casualty Insurance needs modernizing appeared first on OpenText Blogs. Business Process Management Information Management case management Insurance OpenText Process Suite 16 P&C insurance Property and Casualty Insurance
Insurance Occurrence Assurance?
Andrew Hay
JULY 26, 2018
Though the breaches are concerning, the real story is that the financial institution suing its insurance provider for refusing to fully cover the losses. This, unfortunately, is the nature of insurance. News ciso cyber insurance cyber security insurance security security program
A Lawyer's Guide to Cyber Insurance: 4 Basic Tips
Dark Reading
JULY 12, 2019
The time to read the fine print in your cybersecurity insurance policy is before you sign on the dotted line
17 Cybersecurity Products the Cyber Insurance Industry Says Are Worthwhile via Claims Journal
IG Guru
OCTOBER 11, 2019
Insurance broker Marsh has unveiled the inaugural class of cybersecurity products and services receiving a Cyber Catalyst designation that is part of an evaluation program its backers hope will bring greater clarity in the crowded cybersecurity marketplace.
[Guide] 2018 State of the Insurance Industry
Perficient Data & Analytics
APRIL 25, 2018
Creating value for customers, employees, partners, and shareholders has always been the core objective of insurance companies. Our new guide highlights the: State of the insurance industry based on our own insights, as well as those from leaders in the space. Most significant challenges diversified insurance, life insurance, and property and casualty insurance companies face and how they are solving them.
Risky business: Why a rapidly changing insurance landscape necessitates a bold approach
DXC Technology
MARCH 25, 2020
The business of insurance is to define, evaluate and mitigate risk. But risk is becoming less predictable, and customer expectations for the purchase and delivery of insurance are changing. InsuranceThat puts added pressure on the industry to appropriately assess and cover risk, while also taking advantage of the growing opportunities that result from changing global […].
American Insurance firm State Farm victim of credential stuffing attacks
Security Affairs
AUGUST 7, 2019
The American group of insurance and financial services companies State Farm disclosed a credential stuffing attack it has suffered in July. The insurance firm is notifying the impacted customers, but it did not disclose the number of affected users.
Expanding Through M&A in the Insurance Industry
Perficient Data & Analytics
MAY 15, 2018
Yet even as insurance companies lean on M&A for growth, every insurance company requires a more comprehensive program to achieve its growth targets. — To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry. M&A is always on the table, as it can provide quicker access to more customers through geographic expansion, as well as new business lines and capabilities.
New Orleans to Boost Cyber Insurance to $10M Post-Ransomware
Dark Reading
DECEMBER 20, 2019
Mayor LaToya Cantrell anticipates the recent cyberattack to exceed its current $3 million cyber insurance policy
Embracing Strategic Initiatives in the Insurance Industry
Perficient Data & Analytics
MAY 8, 2018
Today, insurance companies remain heavily focused on growth, productivity, and efficiency. The answers to these big questions lie in the strategic initiatives that insurance companies must embrace to move their business forward. To learn about them, download our new guide: 2018 State of the Insurance Industry. That is, how can they generate more revenue and increase profitability? How can they get a bigger piece of the pie in a market that offers customers so many options?
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