SecureWorld News

JANUARY 11, 2024

In this digital battlefield, cyber insurance has emerged as a crucial shield, offering financial protection against data breaches, ransomware attacks, and other cyber incidents. However, just as the threats evolve, so too does the cost of protection, with the global cyber insurance market projected to balloon to a staggering $90.

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Cyber Insurance Insurance Cyber Risk Data breaches 119

SecureWorld News

JULY 2, 2024

Global cyber insurance premiums are declining despite an uptick in ransomware attacks, according to a recent report by insurance broker Howden. This trend reflects improved business security practices, evolving insurance industry dynamics, and changing attitudes toward cyber risk management. Sarah Neild, head of U.K.

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Cyber Insurance Insurance Cyber Risk Marketing 106

Security Boulevard

AUGUST 20, 2021

Cyber insurance is driving a long overdue improvement in user access security. Multi-factor authentication (MFA) is fast becoming a requirement for all privilege and non-privilege accounts, whether users are working on the internal network or remotely. It seems insurers … Continued.

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Insurance Cyber Insurance Authentication Network Security 116

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 348

Insurance Financial Services Penetration Testing Scams 348

Malwarebytes

JULY 10, 2022

Without cyber insurance , you can expect to pay a dizzying amount of cash. In 2022 alone, the average cost of a data breach for businesses under 1,000 employees was close to $3 million—and these costs are coming from activities that cyber insurers typically cover, such as detecting and responding to the breach. Fixed rate.

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Cyber Insurance Insurance Data breaches Phishing 104

The Last Watchdog

SEPTEMBER 24, 2024

Credit monitoring services provide ongoing tracking of credit reports for suspicious activity, and some even offer insurance for identity theft-related losses. The growing threat of cybercrime, including ransomware attacks and large-scale data leaks, is also pushing individuals to take more control of their personal data.

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Authentication Identity Theft Banking Data breaches 216

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. Another 17 percent of claims — nearly $20 billion more – are suspected fraud. In a notice posted Jan. 28 , the U.S.

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Insurance Identity Theft Accountability Mobile 336

Duo's Security Blog

APRIL 25, 2022

For as long as organizations have existed to grow crops, move goods or produce items there have been insurance firms to help these markets survive cyclical events. One of the most important steps they can take to safeguard their businesses is to employ multi-factor authentication ( MFA ). But not all MFA solutions are created equal.

Insurance 115

Insurance Risk Marketing Authentication 115

CSO Magazine

MAY 11, 2022

It’s that time that I fill out the annual cyber insurance policy application. Each year it gives me an insight into what insurance vendors are using to rate the risks and threats to our business and what they are stressing I should have as best practices. Is two-factor authentication in place?

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Cyber Insurance Insurance Ransomware Authentication 98

Krebs on Security

MAY 31, 2019

No authentication was needed to access the digitized records. “First American provides title insurance and settlement services for property sales, which typically require buyers to hand over extensive financial records to other parties in their transactions,” wrote Stacy Cowley. ”

Financial Services 254

Financial Services Insurance Banking Authentication 254

CyberSecurity Insiders

AUGUST 1, 2022

While verification and authentication are terms that are often used interchangeably, they are in fact two separate operations. Digital verification and authentication play a critical role in preventing fraud and cyberattacks. However, if an insurance company uses a legacy system (see “ What is a legacy system in insurance?

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Authentication Passwords Technology Insurance 121

Krebs on Security

NOVEMBER 19, 2021

In reality, the fraudster initiates a transaction — such as the “forgot password” feature on the financial institution’s site — which is what generates the authentication passcode delivered to the member. To combat this scam Zelle introduced out-of-band authentication with transaction details.

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Scams Banking Passwords Authentication 362

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. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

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Cyber Insurance Insurance Risk Technology 100

Malwarebytes

MARCH 19, 2025

Social Security Numbers (SSN) Health insurance information CCB is posting lettersalong the lines of this California example to everyone who may be impacted. Enable two-factor authentication (2FA). Some forms of two-factor authentication (2FA) can be phished just as easily as a password.

Banking 88

Banking Data breaches Computers and Electronics Passwords 88

The Hacker News

FEBRUARY 7, 2023

With cyberattacks around the world escalating rapidly, insurance companies are ramping up the requirements to qualify for a cyber insurance policy. Among these are a mandate to enforce multi-factor authentication (MFA)

Cyber Insurance 93

Cyber Insurance Insurance Ransomware Authentication 93

Krebs on Security

JULY 4, 2020

A reader who was recently the victim of unemployment insurance fraud said he was told he should create an account at the Department of Homeland Security ‘s myE-Verify website , and place a lock on his Social Security number (SSN) to minimize the chances that ID thieves might abuse his identity for employment fraud in the future.

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Accountability Passwords Authentication Insurance 338

SecureWorld News

OCTOBER 28, 2024

UnitedHealth, one of the largest health insurers in the United States, had to undertake a lengthy investigation to confirm the scope of the breach, and its findings emphasize the need for agile security operations that can respond quickly to contain threats and protect data.

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Healthcare Insurance Government Data breaches 105

Hacker's King

DECEMBER 24, 2024

Companies will adopt stricter identity verification and access controls, ensuring that even internal users face rigorous authentication processes. Expansion of Cyber Insurance As cyberattacks grow in frequency and scale, the demand for cyber insurance will surge.

Cybersecurity 59

Cybersecurity Cyber Insurance IoT Insurance 59

Duo's Security Blog

OCTOBER 7, 2022

In this blog, we explain why it makes sense for these firms to work with managed service providers (MSPs) to help bolster their security posture and increase their chances of getting cyber liability insurance cover as insurers continue to raise the bar. Small business cyber insurance: Is it really needed?

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Small Business Cyber Insurance Insurance Cyber Risk 98

eSecurity Planet

OCTOBER 5, 2021

Passwords are the most common authentication tool used by enterprises, yet they are notoriously insecure and easily hackable. At this point, multi-factor authentication (MFA) has permeated most applications, becoming a minimum safeguard against attacks. Jump to: What is multi-factor authentication? MFA can be hacked.

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Authentication Passwords Mobile Accountability 105

Centraleyes

DECEMBER 16, 2024

By focusing on identity and access management (IAM), multi-factor authentication (MFA), and micro-segmentation, ZTA provides a robust defense against modern threats. Insurance Becomes a Necessity The rise of high-profile cyberattacks has led to increased demand for cyber insurance.

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Cybersecurity Insurance Cyber Insurance Risk 98

Security Boulevard

AUGUST 30, 2022

Lloyd's Backs Off Insurance for State-Sponsored Cyberattacks. and] that losses have the potential to greatly exceed what the insurance market is able to absorb,” the guidance says. . Lloyds is a London-based insurance and reinsurance marketplace where financial backers gather to pool and spread risk. brooke.crothers. Gray areas.

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Insurance Cyber Attacks Government Marketing 95

Malwarebytes

OCTOBER 25, 2024

The Office for Civil Rights (OCR) at the HHS confirmed that it prioritized and opened investigations of Change Healthcare and UnitedHealth Group, focused on whether a breach of protected health information (PHI) occurred and on the entities’ compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA) Rules.

Healthcare 116

Healthcare Data breaches Passwords Identity Theft 116

Krebs on Security

JUNE 4, 2019

AMCA has advised LabCorp that Social Security Numbers and insurance identification information are not stored or maintained for LabCorp consumers.” Many readers wrote in to say they’d never heard of First American, but it is the largest title insurance company in the United States.

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Insurance Banking Accountability Data privacy 269

Adam Levin

APRIL 10, 2019

The analysis was conducted by the Aite Group, which looked at mobile apps in eight categories: retail banking, credit cards, mobile payment, healthcare savings, retail finance, health insurance, auto insurance and cryptocurrency.

Banking 187

Banking Retail Insurance Mobile 187

Krebs on Security

APRIL 28, 2021

” Demirkapi found the Experian API could be accessed directly without any sort of authentication, and that entering all zeros in the “date of birth” field let him then pull a person’s credit score. Geico said the data was used by thieves involved in fraudulently applying for unemployment insurance benefits.

Insurance 362

Insurance Identity Theft Accountability Technology 362

CyberSecurity Insiders

MAY 10, 2023

According to the Insurance Information Institute , there was a 45-percent increase in identity theft in 2020, and the rapid digital transformation that took place during 2020 would not have helped improve this figure. Authentication also reduces the overall likelihood of compromising information.

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Authentication Insurance Identity Theft Digital transformation 109

Malwarebytes

FEBRUARY 21, 2025

Insurance companies have shown that their interest in buying specific medical information, like prescriptions that identify medical conditionssuch as HIV, cancer, or psychiatric disorders. Enable two-factor authentication (2FA). Some forms of two-factor authentication (2FA) can be phished just as easily as a password.

Healthcare 113

Healthcare Data breaches Passwords Phishing 113

Malwarebytes

MARCH 25, 2025

That has worried some experts who have pointed out that a new owner could, for instance, hand over customer data to insurance companies to hike up monthly premiums, or to data brokers to power increasingly invasive, targeted advertising. Enable two-factor authentication (2FA). Better yet, let a password manager choose one for you.

Passwords 113

Passwords Accountability Data breaches Phishing 113

Krebs on Security

JANUARY 19, 2022

is perhaps better known as the online identity verification service that many states now use to help staunch the loss of billions of dollars in unemployment insurance and pandemic assistance stolen each year by identity thieves. prompts users to choose a multi-factor authentication (MFA) option. These days, ID.me

Mobile 364

Mobile Accountability Insurance Government 364

Duo's Security Blog

DECEMBER 7, 2022

Much has been published about how the demand — and subsequent cost — for cyber liability insurance has skyrocketed in line with increasing incidents of cyberattacks. The state of cyber liability insurance The topic of cyber liability insurance is full of datapoints, statistics and graphs all showing upward trajectories.

Insurance 98

Insurance Cyber Insurance Ransomware Risk 98

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? At least not alone.

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Cyber Insurance Insurance Authentication Risk 64

Krebs on Security

APRIL 26, 2021

Last week, KrebsOnSecurity heard from a reader who had his freeze thawed without authorization through Experian’s website, and it reminded me of how truly broken authentication and security remains in the credit bureau space. The answer to the second question also was none of the above. and $24.99

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Authentication Accountability Identity Theft Account Security 349

Malwarebytes

OCTOBER 11, 2023

The Philippine Health Insurance Corporation (PhilHealth), has confirmed that it was unprotected by antivirus software when it was attacked by the Medusa ransomware group in September.

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Antivirus Insurance Ransomware Healthcare 123

CSO Magazine

MARCH 9, 2023

A health insurance marketplace that provides coverage for members of the US Congress and congressional staffers was found to be compromised on Wednesday, according to a letter apparently sent from House Chief Administrative Officer Catherine L. Szpindor to members of that chamber.

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Data breaches Insurance Authentication 88

Krebs on Security

FEBRUARY 7, 2022

as a condition of receiving state or federal financial assistance, such as unemployment insurance, child tax credit payments, and pandemic assistance funds. In the face of COVID, dozens of states collectively lost tens of billions of dollars at the hands of identity thieves impersonating out-of-work Americans seeking unemployment insurance.

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Insurance Government Authentication Accountability 251

Malwarebytes

JANUARY 10, 2025

Enable two-factor authentication (2FA). Some forms of two-factor authentication (2FA) can be phished just as easily as a password. Choose a strong password that you dont use for anything else. Better yet, let a password manager choose one for you. If you can, use a FIDO2-compliant hardware key, laptop or phone as your second factor.

Ransomware 94

Ransomware Data breaches Passwords Phishing 94