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 79

Artificial Intelligence Insurance Risk Personal data 79

Data Breach Today

OCTOBER 28, 2022

About 4M Australians Affected by Extortion Demand Made Against the Health Insurer Fallout from the hack of Australian health insurer Medibank continues to worsen as the company twice this week acknowledged a wider set of affected individuals.

Insurance 239

Insurance Personal data Access 239

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 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.

Insurance 97

Insurance Ransomware Cybersecurity Marketing 97

Hunton Privacy

MAY 29, 2020

The implementation of Thailand’s Personal Data Protection Act B.E. If any data controller is unsure as to whether it falls within the scope of those listed in the Royal Decree as being exempt from compliance with the PDPA until May 31, 2021, it may seek advice from the Personal Data Protection Committee.

Personal data 84

Personal data Compliance Insurance IT 84

IBM Big Data Hub

MAY 8, 2023

In my previous post , I described the different capabilities of both discriminative and generative AI, and sketched a world of opportunities where AI changes the way that insurers and insured would interact. Usage risk—inaccuracy The performance of an AI system heavily depends on the data from which it learns.

Insurance 70

Insurance Risk Artificial Intelligence Government 70

Thales Cloud Protection & Licensing

MAY 10, 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. Tue, 05/10/2022 - 05:43.

Insurance 77

Insurance Authentication Risk Ransomware 77

Hunton Privacy

JANUARY 5, 2024

Background The case related to the processing of an incapacitated employee’s personal data, including health data, by the medical service provider (“MDK”) of a health insurance fund in Germany. Under applicable law, the MDK draws up reports on the capacity of individuals insured by the health insurance fund to work.

GDPR 125

GDPR Personal data Insurance Access 125

Thales Cloud Protection & Licensing

MAY 26, 2023

CIAM in insurance: A unified, secure user experience with a single login madhav Fri, 05/26/2023 - 07:33 In recent years, the insurance industry has transformed from a singularly focused entity to a multi-brand or multi-service type of business. Adding value to the user experience (a top priority for 59% of insurers) 2.

Insurance 71

Insurance Digital transformation Security Authentication 71

Data Breach Today

FEBRUARY 1, 2021

Hackers Tampered With Some Data That Was Exposed An organization that administers a children’s dental and health insurance program in Florida took down its online application platform after it discovered the company that hosted its website apparently failed to address vulnerabilities over a seven-year period, resulting in the exposure of personal data. (..)

Insurance 285

Insurance Personal data IT 285

Security Affairs

JUNE 16, 2020

A database allegedly belonging to Ariix Italia was exposed online on an unsecured Amazon S3 bucket, it includes 30,000+ Italian sales agents’ personal data. What data is in the bucket? At the time of discovery, the data bucket contained 7,515 PDF and 25,895 JPG files. SecurityAffairs – Ariix Italia, Data Leak).

Sales 91

Sales Personal data Insurance Marketing 91

Data Breach Today

NOVEMBER 7, 2022

Group Claiming Affiliation With REvil Threatens to Release Data Embattled Australian private health insurer Medibank says it won't pay hackers' extortion demand, saying it can't trust cybercriminals to delete personal data. million individuals.

Insurance 130

Insurance Personal data Ransomware IT 130

Dark Reading

AUGUST 16, 2023

This time, it's the law firm that got breached, then sued for what victims claim was inadequate protection and compensation for theft of personal data.

Data breaches 73

Data breaches Insurance Personal data IT 73

Hunton Privacy

NOVEMBER 20, 2013

On November 4, 2013, the China Insurance Regulatory Commission, which is the Chinese regulatory and administrative authority for the insurance sector, issued the Interim Measures for the Management of the Authenticity of Information of Life Insurance Customers (the “Measures”).

Insurance 40

Insurance Personal data Authentication Records Management 40

Threatpost

FEBRUARY 8, 2018

The vulnerability also exposed login credentials for a massive national insurance claims database, Upguard says.

Insurance 48

Insurance Personal data Ransomware Cloud 48

Data Protection Report

FEBRUARY 27, 2020

Given the level of interest in the case, we have prepared a deeper-dive into the facts and the implications of the decision, with a focus on the important role played in the case by cyber insurance. Until recently, there had not been an example of a cyber insurer actively participating in a recovery action. This is set out below.

Insurance 81

Insurance Risk Data breaches Personal data 81

Hunton Privacy

APRIL 18, 2023

SB 5’s protections would apply to residents of Indiana who act for a personal, family or household purpose, with express exemption for individuals acting in a commercial or employment context.

Privacy 132

Privacy Personal data Sales Insurance 132

Data Breach Today

NOVEMBER 8, 2018

Company Says Medicare Supplemental Plan Policyholders Among Those Impacted Bankers Life is notifying more than 566,000 individuals, including Medicare supplemental insurance policyholders, that their personal information was exposed in a hacking incident.

Insurance 208

Insurance Personal data Access 208

Krebs on Security

MAY 23, 2020

states are possibly making it easier for crooks by leaking their citizens’ personal data from the very websites the unemployment scammers are using to file bogus claims. A number of states have suffered security issues with the PUA websites that exposed personal details of citizens filing unemployment insurance claims.

Insurance 321

Insurance Government Personal data Communications 321

Hunton Privacy

JULY 1, 2022

In its consent order , the Department noted that the cybersecurity events had caused the exposure of a substantial amount of sensitive personal data belonging to Carnival’s customers, including those residing in New York. NYDFS also found that Carnival had failed to implement basic protocols to prevent data breaches.

Cybersecurity 115

Cybersecurity Insurance Phishing Financial Services 115

DLA Piper Privacy Matters

MAY 17, 2018

DLA Piper and Aon have launched a guide ‘ The price of data security ‘, ahead of the General Data Protection Regulation (GDPR), effective from 25 May 2018. The guide reviews the insurability of GDPR fines across Europe, which can reach up to €20 million or, if higher, up to 4% of a group’s annual global turnover.

Insurance 45

Insurance GDPR Data breaches Personal data 45

Hunton Privacy

MAY 10, 2022

On May 10, 2022, Connecticut Governor Ned Lamont signed An Act Concerning Personal Data Privacy and Online Monitoring , after the law was previously passed by the Connecticut General Assembly in April. Connecticut is now the fifth state to enact a consumer privacy law.

Privacy 118

Privacy Personal data Sales B2B 118

Hunton Privacy

FEBRUARY 29, 2024

This enforcement action emphasizes the importance of strong security measures for organizations of any size that handle personal data, particularly sensitive personal data such as PHI, which are frequently targeted in ransomware attacks.

Ransomware 111

Ransomware Personal data Risk Privacy 111

Krebs on Security

JULY 23, 2020

In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. based First American [ NYSE:FAF ] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. It employs some 18,000 people and brought in $6.2 billion in 2019.

Insurance 282

Insurance Financial Services Mining Access 282

Hunton Privacy

JULY 12, 2023

Consumer” means a natural person who resides in Oregon and acts in any capacity other than in a commercial or employment context. Thus, like most other comprehensive state privacy laws, employee data and business-to-business data are excluded from the scope of the OCPA.

Privacy 52

Privacy Personal data Insurance Sales 52

IT Governance

MAY 30, 2018

A report published by research and consultancy company Celent highlights the challenges that the GDPR presents to insurers. Insurers are data controllers: a person, public authority, agency or body that determines the purpose of processing personal data. Steps insurers should take to become GDPR compliant.

Insurance 49

Insurance GDPR Compliance Data collection 49

Hunton Privacy

MARCH 24, 2022

Similar to the CPA and VCDPA, the UCPA contains exemptions for covered entities, business associates and protected health information subject to the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), and financial institutions or personal data subject to the Gramm-Leach-Bliley Act (“GLB”).

Privacy 113

Privacy Personal data Sales B2B 113

Krebs on Security

JANUARY 29, 2021

The unprecedented volume of unemployment insurance fraud witnessed in 2020 hasn’t abated, although news coverage of the issue has largely been pushed off the front pages by other events. The scammers typically use stolen identity data to claim benefits, and then have the funds credited to an online account that they control.

Insurance 290

Insurance Personal data Authentication IT 290

Security Affairs

APRIL 16, 2024

All data is confidential, contains trade secrets. - 30 Gb user data - production line settings - repository with equipment configures - 26 Gb machine operation logs - 1.2 Gb - NDA The group published a set of files as proof of the security breach and threatens leak all the stolen data if the victim will not pay the ransom.

Ransomware 100

Ransomware Manufacturing Insurance Cybersecurity 100

Hunton Privacy

MARCH 17, 2023

Controller Obligations Controllers would be required to implement reasonable security practices, provide a compliant privacy notice to consumers and enter into agreements with processors that handle the controller’s personal data. These rights notably exclude a right to correct inaccurate personal data.

Privacy 72

Privacy Personal data Sales Insurance 72

Hunton Privacy

SEPTEMBER 21, 2023

362 (“Act”), a bill that would impose new requirements on data brokers and grant residents new rights designed to facilitate control over their personal data. The Act would grant California consumers the right to request that data brokers (1) delete and (2) limit the further sale and sharing of consumers’ personal data.

Insurance 69

Insurance Personal data Sales Compliance 69

Security Affairs

JANUARY 23, 2024

The man is responsible for the cyber attacks that in 2022 hit the Australian insurance provider Medibank. “ In November 2022, Medibank announced that personal data belonging to around 9.7M Medibank is one of the largest Australian private health insurance providers with approximately 3.9 million customers.

Government 89

Government Insurance Ransomware Data breaches 89

Security Affairs

NOVEMBER 6, 2018

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. According to CryptoIns analysts, the crypto assets insurance market is expected to reach $7 billion by 2023. Why do crypto exchanges’ users need insurance?

Insurance 57

Insurance Risk Marketing Cybersecurity 57

Security Affairs

NOVEMBER 8, 2022

Australian health insurer Medibank confirmed that personal data belonging to around 9.7 Medibank announced that personal data belonging to around 9.7M Medibank is one of the largest Australian private health insurance providers with approximately 3.9 million customers. million customers.

Ransomware 86

Ransomware Insurance Personal data Data breaches 86

Data Protection Report

JULY 28, 2021

Pursuant to the court’s decision, Article 15 GDPR also covers information already known about the data subject, previous correspondence and notes of internal processes or internal communications related to the data subject. The defendant was a life insurance company and the claimant their insured.

Access 127

Access GDPR Personal data Insurance 127

Privacy and Cybersecurity Law

SEPTEMBER 15, 2021

To be considered a high-quality dataset, the personal data included therein must be processed in accordance with the GDPR. Artificial intelligence not only crosses over into data protection law, but also extends to other areas of law, such as intellectual property, competition, consumer protection, and insurance, to name but a few.

Artificial Intelligence 52

Artificial Intelligence Personal data GDPR Compliance 52

DLA Piper Privacy Matters

APRIL 8, 2019

This fragmentation has, unsurprisingly, lead to a heavy administrative burden for the secondary users of social and health care data by parallel and slow licence procedures with various authorities. The decisions on licenses are subject to an appeal.

Personal data 68

Personal data GDPR Healthcare Compliance 68

Hunton Privacy

JULY 20, 2023

On June 30, 2023, the Delaware House of Representatives passed the Delaware Personal Data Privacy Act ( H.B. The DPDPA’s protections would apply to Delaware residents who act for a personal or household purpose, with express exemption for individuals acting in a commercial or employment context.

Privacy 52

Privacy Personal data Sales Risk 52