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Insurance Related Topics 
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."
Data Breach Today
AUGUST 20, 2021
Firm Says Singapore Unit Was Targeted Tokio Marine, a Japan-based property and casualty insurer, says its Tokio Marine Insurance Singapore unit was hit by a ransomware attack this week
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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.
eSecurity Planet
APRIL 22, 2022
That’s where cyber insurance may be able to help. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage. Cyber Insurance is Booming. Selecting a Cyber Insurer.
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.
Schneier on Security
FEBRUARY 28, 2022
Tarah Wheeler and Josephine Wolff analyze a recent court decision that the NotPetya attacks are not considered an act of war under the wording of Merck’s insurance policy, and that the insurers must pay the $1B+ claim.
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
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
Schneier on Security
JULY 1, 2021
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.
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
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Dark Reading
FEBRUARY 25, 2022
Having cyber insurance is a good idea if the costs make sense — it could be the difference between going out of business and staying afloat. But it shouldn't be your first course of action
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
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
Hunton Privacy
MAY 4, 2022
In April 2022, two states enacted insurance data security legislation based on the National Association of Insurance Commissioners (“NAIC”) Insurance Data Security Model Law (MDL-668). Cyber Insurance Cybersecurity Information Security U.S.
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.
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
Security Affairs
APRIL 22, 2022
When security fails, cyber insurance can become crucial for ensuring continuity. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance. When security fails, cyber insurance can become crucial for ensuring continuity.
Data Breach Today
MARCH 18, 2021
Centene Corp.
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.,
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?
DXC
JULY 18, 2021
Many insurance companies are suffering from the negative effects of historically low interest rates in a low-growth business environment. A recent Computer Economics report shows the urgency for insurers […].
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
DXC
JULY 18, 2021
by Jeff Williams Many insurance companies are suffering from the negative effects of historically low interest rates in a low-growth business environment. The post 3 ways to modernize legacy insurance systems appeared first on DXC Blogs.
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.
Dark Reading
MARCH 23, 2022
Here's what a cybersecurity lawyer thinks security pros need to know in light of Russia's invasion of Ukraine
DXC
JULY 11, 2021
Many insurance companies are suffering from the negative effects of historically low interest rates in a low-growth business environment. A recent Computer Economics report shows the urgency for insurers […].
Dark Reading
JANUARY 10, 2022
Meanwhile, cyber-insurance premiums are rising but covering less Companies are more likely to rely on outside attorneys to handle cyber response in order to contain potential lawsuits.
Schneier on Security
JANUARY 25, 2022
The insurance company Ace American has to pay for the losses: On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute.
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
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. While executives see transformation as essential, achieving success is proving to be much more difficult, with a global report recently published by Cap Gemini suggests that insurance companies are lagging behind other Financial Services organizations.
Data Breach Today
SEPTEMBER 8, 2021
25, President Joe Biden invited about 25 technology, insurance, finance and education executives to the White House to discuss pressing cybersecurity issues such as supply chain and critical infrastructure. Vishaal Hariprasad Also Address How Ransomware Is Changing Security On Aug.
CGI
JUNE 15, 2021
Wanted: More insurance innovation. This CGI blog post discusses the need and opportunities for insurers to drive more innovation. dharini.s@cgi.com. Tue, 06/15/2021 - 07:04
eSecurity Planet
MAY 27, 2021
The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers.
DXC
MARCH 21, 2022
With the top 10 insurers worldwide currently still relying on mainframes, legacy systems continue to be the heartbeat of insurance processing. Increasingly, insurers are looking to modernize existing infrastructure, move to cloud, or both, to support business transformation initiatives.
Thales Cloud Protection & Licensing
MAY 9, 2022
Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With cyber attacks amounting to a question of when and not if, cyber insurance becomes crucial for ensuring business continuity and mitigating the business impact of attacks – should they occur.
Dark Reading
MAY 26, 2021
From limiting claims payments to tying payments to policyholders' actions, the cyber insurance industry is in "a very dynamic place right now," says Corvus Insurance CEO Phil Edmundson
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
DXC
AUGUST 10, 2020
For the insurance sector, this has brought forth both new market opportunities and new market confusion. The insurance sector has leveraged digital for new ways of working, and that has proven to be especially valuable in light of […]. Insurance digital insurance
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