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.

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Insurance Security 245

KnowBe4

JULY 15, 2024

New data shows that only 3 percent of organizations are solely relying on their current cyber defenses when adding on cyber insurance, indicating that organizations are beginning to understand the true value and place of a cyber insurance policy.

Insurance 67

Insurance Security 67

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). Kentucky’s law goes into effect on January 1, 2023.

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Insurance Security Compliance Cybersecurity 110

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 (..)

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Insurance Data breaches Access Security 255

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.

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Insurance Ransomware Information Security Security 274

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.

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Insurance Security IT 147

Hunton Privacy

JUNE 9, 2022

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). Information Security Program Requirements. On May 27, 2022, Vermont Governor Phil Scott signed H.515

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Insurance Security Information Security Cybersecurity 107

Data Matters

APRIL 10, 2024

The National Association of Insurance Commissioners (NAIC) held its Spring 2024 National Meeting (Spring Meeting) March 15 through 18, 2024. The post Regulatory Update: National Association of Insurance Commissioners Spring 2024 National Meeting appeared first on Data Matters Privacy Blog.

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Insurance Privacy Security IT 88

The Last Watchdog

AUGUST 24, 2020

Purchasing life insurance once meant going to an insurer’s office or booking an appointment with an insurance agent. Today’s generation is used to getting everything done fast and easy, so life insurance providers had to get with the times and cover all customers’ needs and requirements.

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Insurance IT Security Access 191

Dark Reading

NOVEMBER 6, 2023

As cyber insurance gets more expensive and competitive, security decision-makers have actionable opportunities to strengthen their cyber defenses.

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Insurance Cybersecurity Security 126

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. million in phony claims.

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Insurance Government Security IT 363

Security Affairs

MARCH 12, 2024

The Postal Police has issued an alert to warn citizens against insurance scams using QR codes. In practice, fake insurance operators contact victims through calls, messages, or sponsorships on social networks, offering policies at advantageous prices. Online companies do not use generic domains or channels such as WhatsApp or Telegram.

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Insurance Education Sales Personal data 98

KnowBe4

OCTOBER 9, 2023

As insurers become more educated on what a “secure organization” looks like, they are tightening their requirements that puts the onus on organizations to be more secure.

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Insurance Education Security Security awareness 104

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. Often, that’s paying the ransom. News article.

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Insurance Ransomware Paper Marketing 115

KnowBe4

MARCH 26, 2024

A new report on the state of email security sheds some light on how organizations are viewing and approaching cyber insurance as they shift strategy toward being cyber resilient.

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Insurance Security 108

IT Governance

MAY 24, 2022

Organisations must always look for cost-effective ways to address the cyber security risks they face. With more than 1,200 publicly disclosed data breaches last year , and organisations spending almost £3 million on average responding to security incidents , effective risk management is a top priority. The benefits of cyber insurance.

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Insurance Data breaches GDPR Ransomware 137

Security Affairs

JANUARY 6, 2024

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 billion insurance claim for the losses caused by the NotPetya attack that took place in 2017. Merck had not taken out specific insurance to cover cyber attacks, it only had insurance coverage against general risks.

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Insurance Healthcare Manufacturing Ransomware 110

Schneier on Security

MARCH 14, 2024

Some drivers may not realize that, if they turn on these features, the car companies then give information about how they drive to data brokers like LexisNexis [who then sell it to insurance companies].

Insurance 128

Insurance Privacy Access IT 128

IG Guru

NOVEMBER 30, 2023

The post Cyber Security: Insurance Prices Level After Two Years of Brutal Increases via ENR first appeared on IG GURU. Check out the article here.

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Insurance Security Information governance Risk 77

IT Governance

AUGUST 23, 2022

Cyber liability insurance helps organisations cover the financial costs of a data breach. Without insurance, organisations spend £3.6 million on average recovering from security incidents. By purchasing cyber liability insurance, organisations gain the resources they need at a fraction of the cost.

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Insurance Data breaches e-Delivery Risk 122

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks. That’s a 29.1%

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Insurance Ransomware Cybersecurity Marketing 116

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.

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Insurance Digital transformation Security Authentication 71

Data Breach Today

APRIL 22, 2024

Joe Toomey of Cyber Insurer Coalition Details Rise in Attacks Targeting Weak MFA Adversaries seeking easy access to enterprise networks continue to probe for weak multifactor authentication deployments, oftentimes via nontargeted attacks that lead to phishing pages designed to steal one-time codes, said Joe Toomey, head of security engineering at cyber (..)

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Authentication Insurance Phishing Access 298

Data Matters

FEBRUARY 2, 2021

The National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law has been adopted in at least 11 states, with several others (including New York) having implemented either older or similar laws or administrative guidance. See State Legislative Brief, NAIC, June 2020.

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Insurance Security Compliance Cybersecurity 114

KnowBe4

MAY 21, 2024

New data covering cyber insurance claims through 2023 shows claims have increased while reaffirming what we already know: phishing and social engineering are the real problem.

Insurance 99

Insurance Phishing Ransomware Security 99

The Guardian Data Protection

NOVEMBER 11, 2023

Observer investigation reveals UK Biobank opened its biomedical database to insurance firms despite pledge it would not do so Sensitive health information donated for medical research by half a million UK citizens has been shared with insurance companies despite a pledge that it would not be. Continue reading.

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Insurance Data Privacy Privacy Risk 109

IBM Big Data Hub

MARCH 25, 2024

According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well.

Financial Services 85

Financial Services Insurance Risk Agriculture 85

Data Matters

JANUARY 9, 2024

The National Association of Insurance Commissioners (NAIC) held its Fall 2023 National Meeting (Fall Meeting) from November 30 through December 4, 2023. The post Regulatory Update: National Association of Insurance Commissioners Fall 2023 National Meeting appeared first on Data Matters Privacy Blog.

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Insurance Artificial Intelligence Privacy Security 88

Data Protection Report

MARCH 21, 2023

The French Information and Digital Security Experts Club ( CESIN ) has estimated that 54% of French companies were subject to cyberattacks in 2021, [1] while France Assureurs has put cyberattack risks on top of all other risks for the sixth year in a row. [2] 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

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Insurance Data breaches Personal data GDPR 105

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.

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Insurance Information Security Communications Security 52

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.

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Insurance Data breaches Cybersecurity Risk 223

Security Affairs

APRIL 23, 2023

Non-profit health insurer Point32Health suffered a ransomware attack and has taken systems offline in response to the incident. Non-profit health insurer Point32Health has taken systems offline in response to a ransomware attack that took place on April 17. ” reads the statement published by the insurer.

Insurance 82

Insurance Ransomware Cybersecurity Education 82

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. Wheeler and Wolff argue that the judge “did the right thing for the wrong reasons.”

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Insurance Cybersecurity Security 108

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.

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Insurance Ransomware Security IT 162

IT Governance

OCTOBER 15, 2020

Cyber threats are so numerous that it’s impossible to prevent security incidents altogether. That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? What is cyber insurance?

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Insurance Data breaches Risk Security 122

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. Soon after, AI’s capabilities extended to Speech and Natural Language processing, such as with IBM Watson, and for Image Recognition, which is now ubiquitously used for unlocking phones and other biometric security.

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Artificial Intelligence Insurance Risk Personal data 75

Data Matters

OCTOBER 20, 2022

Treasury Department is seeking public comment on the need and scope for a potential federal insurance response to catastrophic cyber incidents, akin to the one put in place for terrorism insurance after the attacks of September 11, 2001. The request, published by the Federal Insurance Office (FIO) in the U.S. Background.

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Insurance Marketing Cybersecurity Risk 88