SecureWorld News

MAY 26, 2021

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

Cyber Insurance 80

Cyber Insurance Insurance Cyber Risk Marketing 80

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Cyber has changed everything around us – even the way we tackle geopolitical crisis and conflicts. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance.

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Cyber Insurance Insurance Risk Technology 100

The Last Watchdog

JANUARY 30, 2019

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.

Cyber Risk 147

Cyber Risk Risk Financial Services Banking 147

SC Magazine

MAY 24, 2021

In a report released May 20, the Government Accountability Office looked at how the private cybersecurity insurance market has developed over the past five yearsRich Baich is global chief information security officer for insurance giant AIG. Photo by Spencer Platt/Getty Images).

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Cyber Insurance Insurance Marketing Cyber Risk 94

The Last Watchdog

DECEMBER 18, 2024

Similarly, software bills of materials (SBOMs) underscore the need for better accountability in third-party software. Seara Jose Seara , CEO, DeNexus Recent regulatory updates highlight a shift toward robust cyber risk governance, requiring organizations to adapt. The NIST Cybersecurity Framework 2.0

Cybersecurity 130

Cybersecurity CISO Risk Government 130

SC Magazine

MAY 19, 2021

The development of cybersecurity insurance has played an important role in determining how companies prepare for and respond to ransomware attacks and the resulting fallout. That in itself has evolved, as insurers and insured learn just how expensive that fallout can be. The ransomware reality check for insurers.

Cyber Insurance 102

Cyber Insurance Insurance Marketing Ransomware 102

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. As cyber criminals mature and advance their tactics, small and medium businesses become the most vulnerable because they lack the capacity – staff, technology, budget - to build strong cyber defenses. The necessity for cyber-insurance coverage.

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Cyber Insurance Insurance Cyber Risk Cyber Attacks 77

Duo's Security Blog

OCTOBER 18, 2021

One area where campuses have been collaborating recently are changes around cyber liability insurance for higher education, an opportunity for campus cybersecurity teams to combine forces with their risk management team. In a recent Duo blog post, we gave an overview of cyber liability insurance.

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Insurance Education Risk Cyber Insurance 97

Duo's Security Blog

FEBRUARY 4, 2025

With the rate that new threats emerge, it may come as no surprise that cyber liability insurance can be traced back to 1997. In its modern iteration, cyber liability insurance mitigates the losses and business costs associated with cyber incidents and resulting downtime. What would an insurer do?

Cyber Insurance 64

Cyber Insurance Insurance Authentication Risk 64

Joseph Steinberg

APRIL 20, 2021

Hospitals, medical clinics, labs, pharmacies, insurance companies, and others involved in the vaccination process often require people who want to be vaccinated to share large amounts of both medical and demographic data in order to register for vaccine appointments.

Healthcare 233

Healthcare Insurance Computers and Electronics Data collection 233

Security Affairs

NOVEMBER 14, 2022

The size of the cyber risk to companies cannot be underestimated. To indicate the size of the cyber risk to companies, there is, on average, a cyber-attack every 39 seconds, which does not mean that every attack is successful, but that there is an attempt to access companies’ computer systems with that frequency.

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Cyber Risk Insurance Cyber Attacks Risk 142

SecureWorld News

JANUARY 31, 2024

Cyber risk is an existential issue for companies of all sizes and in all industries. However, it also exposes companies to additional layers of risk. While this is standard practice for addressing liability within the universe of real estate, deliberate and precise actions are required when negotiating cyber insurance coverage.

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Risk Cyber Insurance Insurance Data breaches 104

CyberSecurity Insiders

MARCH 25, 2021

Department for Digital, Culture, Media and Sport (DCMS) of UK conducted the survey and came to the above stated conclusion that shows how relaxed are businesses for cyber security. And sometimes cyber criminals are using email services to trick employees into making fraudulently large financial transfers via new business deals or contracts.

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Cyber threats Cyber Insurance Insurance Cyber Risk 128

SC Magazine

JULY 13, 2021

Malicious cyberattacks caused the majority of these security incidents, accounting for 73% of all breaches. Unauthorized access or disclosure accounted for another 22%, and the remaining 5% were caused by smaller thefts, losses, or improper disposals. More than 22.8 Another 20.7% were attributed to extortion.

Data breaches 113

Data breaches Insurance Healthcare Education 113

The Last Watchdog

DECEMBER 5, 2018

The compromised databases included names, addresses, dates of birth, insurance policy details, medical record numbers, account balances and dates of service — of both guarantors and patients. The fact that this incident is being labeled “the Atrium breach” in the media also shows where the reputational risk lies.

Data breaches 153

Data breaches Healthcare Insurance Risk 153

Security Boulevard

JANUARY 24, 2025

Plus, the EUs DORA cyber rules for banks go into effect. Meanwhile, a report warns about overprivileged cloud accounts. Are we clear on who must be involved in assessing and mitigating AI adoption cyber risks? Check out tips for adopting AI securely from the World Economic Forum.

Banking 69

Banking Cybersecurity Artificial Intelligence Ransomware 69

SC Magazine

APRIL 23, 2021

For example, they’re used in boardrooms as “eye candy” to portray the state of company cyber-risk, with supply chain partners to manage third-party risk and, even more frightening, by insurance companies to create risk profiles for cyber-insurance policies. Usually not.

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Cyber Insurance Insurance Risk Cyber Risk 61

Security Boulevard

MARCH 20, 2025

The surge was fueled by ChatGPT, Microsoft Copilot, Grammarly, and other generative AI tools, which accounted for the majority of AI-related traffic from known applications. Figure 1: Top AI applications by transaction volume Enterprises blocked a large proportion of AI transactions: 59.9%

Social Engineering 76

Social Engineering Phishing Risk Insurance 76

SecureWorld News

MAY 2, 2025

Regulatory and compliance pressures: Regulators have taken note of healthcare's cyber risks, and new rules are forcing the issue. Many healthcare providers now undergo annual security audits and risk assessments as required by regulators or cyber insurance providers. providers undergo annual third-party audits).

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Healthcare Marketing Cybersecurity CISO 61

The Security Ledger

JUNE 24, 2021

In just the past four months, the United States has contended with a major escalation of cyber risk in critical infrastructure with two, major attacks that disrupted critical sectors. Episode 158: How NotPetya has Insurers grappling with Systemic Cyber Risk. The repercussions of those attacks were easy to see.

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Cyber Risk Risk Cyber Attacks Ransomware 52

SecureWorld News

NOVEMBER 30, 2021

M&A cyber risk is real. The information accessed includes full names, credit and debit card numbers with CCV, financial account numbers, and platform account numbers. What kind of cyber risks are lurking in the organizations you are acquiring or merging with? What it did not know at the time?

Data breaches 98

Data breaches Insurance Cyber Risk Risk 98

The Security Ledger

SEPTEMBER 11, 2019

Third party cyber risk is growing. In this Spotlight Podcast, a companion to our new eBook, Rethinking Third Party Cyber Risk Management, we go deep on the topic of building a mature third party cyber risk program with Dave Stapleton the Director of Assessment. Third party cyber risk is growing.

Cyber Risk 40

Cyber Risk Risk Data privacy Insurance 40

SC Magazine

MAY 28, 2021

Colonial Pipeline also heightened discussion about the influence of ransomware attacks on cyber insurance. Even before the incident, some insurers dropped coverage for ransomware payments, while others began to ratchet up cybersecurity standards for coverage in an effort to prevent an attack.

Insurance 117

Insurance Ransomware Government Risk 117

The Last Watchdog

FEBRUARY 25, 2019

A separate set of startups soon cropped up specifically to handle the provisioning of log on accounts that gave access to multiple systems, and also the de-provisioning of those accounts when a user left the company. Governance and attestation quickly became a very big deal.

Government 169

Government Authentication Technology Data breaches 169

BH Consulting

JULY 17, 2024

One of the largest tech companies, Amazon Web Services, has now made it mandatory for privileged accounts. Security Week reported that Mandiant’s investigation traced the incident back to stolen credentials and found that targeted accounts weren’t using MFA. MFA is seen as a critical control in reducing the risk of account takeovers.

Cyber Insurance 69

Cyber Insurance Insurance Risk Marketing 69

The Last Watchdog

DECEMBER 12, 2023

Related: Adopting an assume-breach mindset With that in mind, Last Watchdog invited the cybersecurity experts we’ve worked with this past year for their perspectives on two questions that all company leaders should have top of mind: •What should be my biggest takeaway from 2023, with respect to mitigating cyber risks at my organization?

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Cybersecurity Social Engineering Cyber threats Software 258

Security Boulevard

AUGUST 22, 2022

Even with ransomware costing billions of dollars in losses and cyber insurance claims, organizations are still impacted beyond the checkbook. These attacks have driven the cost of cyber insurance premiums higher. Cyber insurance has become more critical to organizations to help offset the risk to the company.

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Cybersecurity Cyber Insurance Insurance Risk 98

SecureWorld News

APRIL 29, 2024

If there is a silver lining, it is likely the data exposed to advertisers such as Microsoft and Google does not include usernames, passwords, Social Security numbers (SSNs), financial account information, or credit card numbers. Protecting your information online starts with good cyber hygiene.

Data breaches 112

Data breaches Healthcare Identity Theft Advertising 112

SecureWorld News

OCTOBER 11, 2023

Before that, I worked as a full-time CISO for an insurance company for seven years. And there's a lot of downsides to hitting this easy button: excessive cyber risk acceptance; excessive contract risk acceptance; paying for a stream of point solutions that overlap each other and also leave gaps in coverage; etc.

Insurance 109

Insurance Passwords CISO Cybersecurity 109

Centraleyes

APRIL 17, 2025

Various regulatory bodies and industry organizations either require or recommend the use of COSO: The Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) recognize COSO as a valid framework for SOX compliance, ensuring public companies maintain strong internal controls over financial reporting.

Risk 52

Risk Technology Cybersecurity Accountability 52

Centraleyes

MARCH 13, 2025

The New York Department of Financial Services (NYDFS) Cybersecurity Regulation, officially known as 23 NYCRR Part 500, is a forward-thinking framework designed to protect consumers sensitive data while holding businesses accountable for their cybersecurity practices. This plan is your playbook for staying calm under pressure.

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Cybersecurity Financial Services Risk Encryption 52

Digital Shadows

NOVEMBER 26, 2024

Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. Cloud services alerts increased by 20% due to rising cloud account usage, while malicious file alerts in phishing attacks remain high, exploiting users’ tendencies to open files.

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Cyber Attacks Phishing Ransomware Cyber Insurance 59

Security Boulevard

MARCH 13, 2025

Integrating Cyber Risk into Business Risk Decisions Cybersecurity failures are now business risks that CEOs and Boards must own. Many regulatory bodies, insurance providers, business partners, and customers take cybersecurity very seriously and now hold the CEO and Board accountable.

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Cybersecurity CISO Cyber Risk Risk 52

NetSpi Executives

OCTOBER 17, 2023

This includes the provision of post-market updates and patches, addressing known unacceptable vulnerabilities on a reasonable schedule and addressing critical vulnerabilities that could pose uncontrolled risks as soon as they are discovered. They task the Government Accountability Office (GAO) with preparing reports and conducting reviews.

Healthcare 94

Healthcare Manufacturing Cyber Risk Cybersecurity 94

BH Consulting

JANUARY 11, 2022

We begin with a look at a contentious topic: cyber risk insurance. The blog was inspired by the growing number of organisations coming under pressure to take out insurance cover. Risk vs reward. There is an argument that cybersecurity insurance is useful because it makes people think of business risk, not just IT.

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Cybersecurity Insurance Scams Cyber Risk 59

The Security Ledger

JULY 22, 2020

In this Spotlight podcast* we’re joined by Andrew Jaquith, the CISO at QOMPLX to talk about how the COVID pandemic is highlighting longstanding problems with cyber risk management and cyber resilience. Andy is an amazing resource on all matters cyber security. Read the whole entry. » New Tech Meets Old Tools.

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CISO Ransomware Cyber Risk Risk 52

SecureWorld News

JULY 31, 2023

If you are a CISO today who is not getting face time with the board, look at this as an opportunity to continue to press for the need to discuss the current state and cyber risks currently being faced by the company. What about providing D&O (directors and officers liability) insurance to CISOs? That's not addressed either."

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CISO InfoSec Risk Cybersecurity 98