Webinar on the SAFETY Act, Security and Insurance

Hunton Privacy

Recent headlines underscore the security challenges faced by public-facing businesses. From physical threats to cyber attacks targeting a wide range of critical infrastructure, companies in diverse sectors, such as the financial, retail, entertainment, energy, transportation, real estate, communications and other areas, face a challenging landscape of risks and potential liabilities. Cybersecurity Events Anti-terrorism Congress Department of Homeland Security

“An act of war”: Zurich American refuses to pay out on cyber insurance policy following NotPetya attack

IT Governance

US food giant Mondelez is suing insurance company Zurich American for denying a $100 million (£76 million) claim filed after the NotPetya attack. In that regard, it was a job well done, with one report estimating that insurers could expect to pay out more than $80 billion (£61 billion) as a result of the attack. However, the insurer soon changed its mind, claiming an exclusion for “hostile and warlike action in time of peace and war [by] a government or sovereign power”.

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A Chief Security Concern for Executive Teams

Krebs on Security

Virtually all companies like to say they take their customers’ privacy and security seriously, make it a top priority, blah blah. That’s because very few of the world’s biggest companies list any security executives in their highest ranks.

Tesco Bank Hack Illustrates Need for Robust Cyber Insurance

Hunton Privacy

As reported on the Insurance Recovery blog , earlier this week, retailer Tesco Plc’s (“Tesco”) banking branch reported that £2.5 The loss, which is about half of what Tesco initially estimated, is still substantial and serves as a strong reminder that cyber-related losses are a real threat to retailers and other industries. Cyber Insurance Cybersecurity Financial Privacy Security Breach Consumer Protection Insurance Provider United Kingdom

Report Shows Major Security Holes in Banking Apps

Adam Levin

A security analysis of 30 major banking and financial apps has shown major security holes and a lax approach to protecting user data. The post Report Shows Major Security Holes in Banking Apps appeared first on Adam Levin.

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Reltio Cloud – A Data Platform Perfect For Google Anthos

Reltio

The last Google Cloud Next’19 conference had a focus on better enabling enterprises to adopt a multi-cloud architecture with announcements of tools that address concerns around security, “vendor lock-in”, code migration between clouds, and support of open source.

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11 cyber security predictions for 2020

IT Governance

Almost everyone wants to know what the future has in store – particularly when it comes to cyber security. With that in mind, Geraint Williams, IT Governance’s chief information security officer, discusses his cyber security predictions in the upcoming year.

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Keeping Up with New Data Protection Regulations

erwin

Due to these pre-existing regulations, organizations operating within these sectors, as well as insurance, had some of the GDPR compliance bases covered in advance. For example, many retailers have robust, data-driven e-commerce operations that are international.

New Payment Technologies Should Reduce Demand for Cyber Insurance

Hunton Privacy

Hunton & Williams Insurance Litigation & Counseling partner Lon Berk reports: As the demand for cyber insurance has skyrocketed, so too has the cost. Much of the increase in demand and cost has been the result of the widely publicized hacks of the point-of-sale systems at large retailers, and the primary emphasis of most cyber policies is to address liability arising from such events. Cyber Insurance Cybersecurity Payment Card

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#ModernDataMasters: Sarit Bose, Cognizant

Reltio

If you are going to create a single version of the truth it needs to be a single version of SECURED truth. Kate Tickner, Reltio. Sarit Bose is the Head of Business Analytics and Insights at Cognizant UK&I.

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Sixth Circuit Finds Coverage for Losses Resulting from Retailer’s Data Breach

Hunton Privacy

that losses resulting from the theft of customers’ banking information from a retailer’s computer system are covered under a commercial crime policy’s computer fraud endorsement. In February 2005, a computer hacker gained access to the main computer system of shoe retailer DSW Shoe Warehouse, Inc. (“DSW”) Retail Ventures, Inc., Security Breach U.S. State Law Hacker Insurance Provider Litigation Ohio

#ModernDataMasters: Lewis Ownes, CEO Agile Solutions

Reltio

But it did give me the advantage of seeing how the data was being fed into the machines for personalisation and the use of algorithms for security even back then. “At Kate Tickner, Reltio.

#ModernDataMasters: Steve Whiting, Chief Operations Officer

Reltio

I worked in several Telcos and latterly in the City for an international insurance company. Ethical data management means you need data governance and data security by design – these initiatives are hard to retrofit. Kate Tickner, Reltio.

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Morrisons heads to the Supreme Court over data breach

IT Governance

The information comprised names, addresses, gender, dates of birth, phone numbers, National Insurance numbers, bank details and salaries. Morrisons argued that it wasn’t responsible for Skelton’s actions and that it had taken all the necessary precautions to secure employees’ data. However, as the US food giant Mondelez learned earlier this month , cyber security insurance has its own pitfalls. Keep up to date with the latest security news with our weekly newsletter.

NEW TECH: Cequence Security deploys defense against botnets’ assault on business logic

The Last Watchdog

Pick any company in any vertical – financial services, government, defense, manufacturing, insurance, healthcare, retailing, travel and hospitality – and you’ll find employees, partners, third-party suppliers and customers all demanding remote access to an expanding menu of apps — using their smartphones and laptops. It becomes difficult to build security into the application when you are doing that frequent of a change and you end up more exposed to risk.

Morrisons loses data leak appeal

IT Governance

The data included bank account details, salary information, dates of birth, National Insurance numbers, addresses and phone numbers. A more secure option is system-to-system data transfer. Cyber Security Data Protection IT Best Practice Retail data breach data misuse

Regulatory Update: NAIC Fall 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (the NAIC) held its Fall 2019 National Meeting (Fall Meeting) in Austin, Texas, from December 7 to 10, 2019. The draft revisions include a requirement for producers to act in the “best interest” of a retail customer when making a recommendation of an annuity. Term and Universal Life Insurance Reserve Financing Model Regulation and 2016 Revisions to the CFR Model Laws. Big Data Insurance Policy

Regulatory Update: NAIC Fall 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (the NAIC) held its Fall 2019 National Meeting (Fall Meeting) in Austin, Texas, from December 7 to 10, 2019. The draft revisions include a requirement for producers to act in the “best interest” of a retail customer when making a recommendation of an annuity. Term and Universal Life Insurance Reserve Financing Model Regulation and 2016 Revisions to the CFR Model Laws. Big Data Insurance Policy

Russians Shut Down Huge Card Fraud Ring

Krebs on Security

Cybersecurity experts say the raid included the charging of a major carding kingpin thought to be tied to dozens of carding shops and to some of the bigger data breaches targeting western retailers over the past decade.

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A new era for customer data – could security be ‘the new green’ for businesses?

Thales eSecurity

I now see cyber security – and more specifically, data security – positioned at the edge of a similar tipping point. With this only set to continue, there is every chance we may soon see organisations using data security to seize a competitive advantage. Data security

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Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. Securities and Exchange Commission on June 5, 2019, broker-dealers and associated persons are required to act in the best interest of a retail customer when recommending a securities transaction or investment strategy involving securities to a retail customer.

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Attention all businesses: Data security is the way to your customers’ hearts (and wallets)!

Thales eSecurity

For years now many organisations have approached data security with a sense of reluctance. This approach has, undoubtedly, helped to create a mood whereby organisations realise they can’t ignore data security matters, but continue to invest somewhat reluctantly. Data security

US-based children’s clothing maker Hanna Andersson discloses a data breach

Security Affairs

The US-based children’s clothing maker and online retailer Hanna Andersson discloses a data breach, attackers planted an e-skimmer on its e-commerce platform. Security firms have monitored the activities of a dozen groups at least since 2010. .

Danish company Demant expects to incur losses of up to $95 after cyber attack

Security Affairs

million of expected insurance coverage. “But there are many indications that it could be a ransomware attack that has hit the company, according to security expert Jens Monrad, who is a daily employee of IT security firm FireEye.”

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In a Few Days, Credit Freezes Will Be Fee-Free

Krebs on Security

A credit freeze — also known as a “security freeze” — restricts access to your credit file, making it far more difficult for identity thieves to open new accounts in your name.

TA505 group updates tactics and expands the list of targets

Security Affairs

TA505 hacking group has been active since 2014 focusing on Retail and banking sectors. and which used emails with subjects pertaining to finance or urgent concerns on insurance policies.

Why Amazon Ads Could Be a Disaster Waiting to Happen

Adam Levin

Whether you invest only as much as can be insured, or you use different financial managers with unique areas of expertise, your goal is to maximize your capital. Data Security Privacy featured amazonWhen investing, it’s always a good idea to spread the wealth.

Group-IB presents its annual report on global threats to stability in cyberspace

Security Affairs

The threat actor mainly targets insurance, consulting, and construction companies. Many telecom operators are Managed Service Providers and provide security services to government and commercial organizations. The largest bank card data leaks are related to compromises of US retailers.

MY TAKE: SMBs can do much more to repel ransomware, dilute disinformation campaigns

The Last Watchdog

Current attack trends add urgency, and catching up on doing basic security best practices isn’t enough. Eventually, governments will address the risk by beefing up security and purchasing cyber insurance, which go hand in glove.

Q&A: Why SOAR startup Syncurity is bringing a ‘case-management’ approach to threat detection

The Last Watchdog

There’s a frantic scramble going on among those responsible for network security at organizations across all sectors. Enterprises have dumped small fortunes into stocking their SOCs (security operations centers) with the best firewalls, anti-malware suites, intrusion detection, data loss prevention and sandbox detonators money can buy. Enter SOAR, the acronym for “security operations, analytics and reporting.”

Redcar and Cleveland Borough Council still offline after suffering cyber attack

IT Governance

Meanwhile, the National Crime Agency said it was supporting the council, and a team of experts from the National Cyber Security Centre has been on-site since 9 February. Unlike an attack on retailers, for example, victims have no alternative when systems are down.

Xerox Unveils New Services Offerings to Advance Clients’ Digital Transformations

Document Imaging Report

Addressing the unique needs of industries, such as insurance, healthcare, public sector and retail, Xerox’s first set of sector-specific services provides new ways to enhance the client experience, including: Xerox Services for Digital Insurer : empower insurance organizations to meet the demands of numerous touch points across the client journey by helping orchestrate engagement and supporting business processes.

Knock, Knock; Who’s There? – IoT Device Identification & Data Integrity Is No Joke

Thales eSecurity

The use of IoT technologies holds enormous potential in practically every segment of human enterprise – government, banking and finance, healthcare, retail, agriculture, and ecommerce to name a few. The IoT is not making the job of securing networks any easier. Data security

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New Jersey Moves Forward With Shopper Privacy Bill

Hunton Privacy

On September 15, 2016, the New Jersey Senate unanimously approved a bill that seeks to limit retailers’ ability to collect and use personal data contained on consumers’ driver and non-driver identification cards. to record, retain or transmit information by a covered entity governed by the medical privacy and security rules pursuant to the Health Insurance Portability and Accountability Act of 1996. Information Security Security Breach U.S.

NEW TECH: This free tool can help gauge, manage third-party cyber risk; it’s called ‘VRMMM’

The Last Watchdog

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection. And this continues to include enterprises that have poured a king’s ransom into hardening their first-party security posture.

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Cognitive Agents to Improve User Experience

Perficient Data & Analytics

This technology can also improve data security, customer and employee experience, and visibility over business processes. Others have also seen benefits by combining cognitive agents with internal processes to do things like speed up on-boarding processes and reduce security concerns and errors. . Health Insurance Company | Interactive cognitive agent for providers to quickly access member information. // CHALLENGE? //. In a world where over 2.5

Weekly podcast: Password managers, unpatched vulnerabilities, formjacking and Wendy’s

IT Governance

This week, we discuss a security flaw affecting 1Password, Dashlane, KeePass and LastPass; the prevalence of historic vulnerabilities in corporate IT systems; the increase in formjacking attacks; and Wendy’s $50 million data breach settlement. The researchers explain that: “All password managers [they] examined sufficiently secured user secrets while in a ‘not running’ state. million of this amount, the rest being covered by insurance. Cyber Security Podcast

List of data breaches and cyber attacks in October 2019 – 421 million records breached

IT Governance

In a month where security experts across Europe were boosting awareness of cyber security , organisations had mixed results in their own data protection practices. IN-based Goshen Health leans that 2018 data security incident did need to be reported (9,160).

New Jersey Shopper Privacy Bill Signed into Law

Hunton Privacy

On July 21, 2017, New Jersey Governor Chris Christie signed a bill that places new restrictions on the collection and use of personal information by retail establishments for certain purposes. to record, retain or transmit information by a covered entity pursuant to the Health Insurance Portability and Accountability Act of 1996. In addition, the law limits the information which retail establishments may collect from the scanned identification cards.

62% of organisations unaware of the GDPR

IT Governance

Among those that have started to prepare: 36% of businesses and charities have changed their cyber security practices; 21% of businesses and 10% of charities have invested in additional staff training; and.

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