CSO Magazine

FEBRUARY 22, 2021

On February 4, 2021, New York became the first state in the nation to issue a cybersecurity insurance risk framework to all authorized property and casualty insurers. Get the latest from CSO by signing up for our newsletters. ]. Get the latest from CSO by signing up for our newsletters. ].

Insurance 106

Insurance Cyber Insurance CSO Ransomware 106

CSO Magazine

APRIL 21, 2021

Faced with increasing payouts and a likely storm of litigation around the recent SolarWinds and Microsoft Exchange server compromises, cyber insurers are facing an “existential battle” for their future, a leading cybersecurity researcher and privacy consultant has warned. To read this article in full, please click here (Insider Story)

Cyber Insurance 142

Cyber Insurance Insurance Cybersecurity 142

CSO Magazine

JUNE 14, 2023

Finding the right insurance has become a key part of the security equation, which is no surprise given that the average cost of a data breach in the US has risen to $9.44 The global cyber insurance market was valued at $13.33 million — more than twice the global average of $4.35 billion in 2023 to $84.62 billion by 2030.

Insurance 121

Insurance Data breaches Cyber Insurance Marketing 121

CSO Magazine

APRIL 27, 2021

Organizations will face significant challenges in purchasing, renewing, and benefitting from cyber insurance policies this year as various factors drive the sector towards a stricter, more specialized position, global specialists in law, risk, and cybersecurity predict.

Cyber Insurance 142

Cyber Insurance Insurance Ransomware Risk 142

CSO Magazine

DECEMBER 6, 2022

As the frequency and severity of ransomware, phishing, and denial of service attacks has increased, so has demand for cyber insurance. billion in direct written premiums were recorded in 2021, a 61% increase over the prior year, according to an October 2022 memorandum from the National Association of Insurance Commissioners.

Cyber Insurance 121

Cyber Insurance Insurance Phishing Ransomware 121

CSO Magazine

JUNE 2, 2021

I recently had to renew the cyber insurance policy for the office and it was interesting to see the evolution of questions asked over the years. At first, most of the cyber insurance questions involved basic computer security and merely checked to see if we had firewalls and antivirus and not much else.

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Cyber Insurance Insurance Antivirus Firewall 115

CSO Magazine

FEBRUARY 20, 2023

With cyberattacks rising at an alarming rate around the world, cyber insurance has become an increasingly popular layer of protection for businesses across all sectors. However, despite its clear appeal as a means of supporting and augmenting cyber risk management, insurance might not be the right fit for all companies in every circumstance.

Cyber Insurance 112

Cyber Insurance Insurance Cyber Risk Risk 112

CSO Magazine

APRIL 20, 2023

Cyber insurance provider At-Bay has announced the launch of a new InsurSec solution to help small-to-mid sized businesses (SMBs) improve their security and risk management postures through their insurance policy. The emergence of InsurSec technology reflects a cyber insurance landscape that has seen significant change recently.

Cyber Insurance 105

Cyber Insurance Insurance Risk CISO 105

CSO Magazine

MAY 15, 2023

Companies with cyber insurance are more likely to get hit by ransomware, more likely to be attacked multiple times, and more likely to pay ransoms, according to a recent survey of IT decision makers. Back in 2019, fewer than 20% of enterprises suffered repeat ransomware attacks, while during the pandemic, the percentage rose to around 30%.

Insurance 123

Insurance Cyber Insurance Ransomware Encryption 123

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. Here are the questions that stood out. Is two-factor authentication in place?

Cyber Insurance 98

Cyber Insurance Insurance Ransomware Authentication 98

CSO Magazine

JUNE 11, 2021

The attacks have been primarily targeting US and global organizations from a range of sectors including energy, financial, insurance, manufacturing, public utilities and retail. Sign up for CSO newsletters. ]. Learn 12 tips for effectively presenting cybersecurity to the board and 6 steps for building a robust incident response plan.

DDOS 128

DDOS Energy and Utilities CSO Retail 128

The Last Watchdog

APRIL 30, 2019

Prior to launching CyberSaint, Wrenn was CSO of Schneider Electric, a supplier of technologies used in industrial control systems. That could be for insurance purposes. “As As with any insurance, cyber insurance really requires due care.” Wrenn said. “So Privacy in focus The flip side of data security is privacy.

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Cybersecurity Insurance Cyber Insurance Risk 173

CSO Magazine

MARCH 22, 2022

As ransomware attacks and cybercrime have skyrocketed over the past few years, some organizations are feeling compelled to purchase cyber insurance , which is designed to cover the costs resulting from a successful cyberattack.

Cyber Insurance 83

Cyber Insurance Insurance Cybercrime Ransomware 83

CSO Magazine

MAY 5, 2023

Pharmaceutical firm Merck recently won an appeal that could mean its insurers will have to pay up on a $1.4-billion As detailed in the judges’ decision, many of the original defendants settled their portion of the insurance claim with Merck. billion judgment related to the NotPetya cyberattack in 2017.

Cyber Insurance 77

Cyber Insurance Insurance Accountability 77

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.

Data breaches 88

Data breaches Insurance Authentication 88

CSO Magazine

AUGUST 22, 2022

Insurance marketplace Lloyd’s of London is set to introduce cyber insurance exclusions to coverage for “catastrophic” state-backed attacks from 2023. The move is reflective of a maturing and quickly evolving cyber insurance market. Nation-state attacks pose systemic risk to insurers.

Cyber Insurance 72

Cyber Insurance Insurance Marketing Risk 72

CSO Magazine

FEBRUARY 21, 2023

But enterprise cybersecurity is a team sport involving multiple players—encompassing everything from technology vendors to cyber insurance providers and cyber defense platforms. By Microsoft Security No matter the industry or company size, businesses of all types must be vigilant when guarding against potential cybersecurity attacks.

Cyber Insurance 70

Cyber Insurance Insurance Technology Cybersecurity 70

CSO Magazine

JULY 20, 2021

In March 2021 Google Cloud announced a new offering called Risk Protection Program, which is designed to help its cloud customers reduce security risk and connect with Google’s insurer partners, Allianz Global Corporate & Specialty and Munich Re. To read this article in full, please click here (Insider Story)

Cyber Insurance 137

Cyber Insurance Insurance CISO Risk 137

CSO Magazine

NOVEMBER 3, 2022

Multinational food and beverage company Mondelez International and Zurich American Insurance have settled their multiyear litigation surrounding the cyberattack coverage – or lack of such coverage – following the NotPetya malware attack that damaged the Mondelez network and infrastructure.

Insurance 81

Insurance Cyber Attacks Malware 81

CSO Magazine

SEPTEMBER 22, 2022

The trial of former Uber CISO Joe Sullivan marks the first time a cybersecurity chief has faced potential criminal liability. Sullivan is charged with trying to conceal from federal investigators the details of a 2016 hack at Uber that exposed the email addresses and phone numbers of 57 million drivers and passengers.

CISO 117

CISO Insurance Hacking Cybersecurity 117

CSO Magazine

MARCH 31, 2022

And as head of enterprise cybersecurity at MassMutual, an insurance and financial services firm, she has a plan on how to bring those pieces together to deliver for her organization. Sign up for CSO newsletters. ].

CSO 68

CSO Financial Services Insurance Cybersecurity 68

CyberSecurity Insiders

MARCH 16, 2022

The research was compiled by Cider Security along with experts from Netflix, Atlassian, Mozilla, Lemonade Insurance, Rapid7, Databricks, and the former CISOs of Twitter and LivePerson. You can access the full research report here. . About Cider Security .

Risk 109

Risk CISO Insurance Engineering 109

CSO Magazine

JANUARY 13, 2023

The Royal ransomware group is believed to be actively exploiting a critical security flaw affecting Citrix systems, according to the cyber research team at cyber insurance provider At-Bay.

Cyber Insurance 129

Cyber Insurance Ransomware Insurance Authentication 129

CSO Magazine

SEPTEMBER 23, 2021

The commissioners recognized how the applications and devices did not fall within the scope of the Health Insurance Portability and Accountability Act ( HIPAA ), but the entities should “face accountability when consumers sensitive health information is compromised.” To read this article in full, please click here

Insurance 120

Insurance Accountability 120

CSO Magazine

OCTOBER 17, 2022

In finance and insurance, for example, there will be specific rules that must be followed in different countries and cybersecurity leaders in such organisations may even be liable. Ultimately, the hiring organisations will define what it needs in terms of cybersecurity to find the right person.

CISO 128

CISO Telecommunications Insurance Government 128

CSO Magazine

APRIL 22, 2021

Many IT leaders are recognizing the benefits of breaking down the barriers between network and security operations centers (NOC and SOC, respectively).

Insurance 85

Insurance 85

CSO Magazine

AUGUST 31, 2022

The larger and more international your corporation, the more alphabet soup of technology compliance regulations need to be followed: the European Union’s General Data Protection Regulation (GDPR), the American Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry Data Security Standard (PCI DSS), the guidance by the (..)

Insurance 128

Insurance Internet Internet Technology 128

NopSec

DECEMBER 9, 2015

Creating a Competitive Advantage A couple of years ago, I worked as a consultant to a growing insurance adjusting firm and did an information security risk assessment. They had an agreement with a national insurance carrier that required them to comply with contractual provisions regarding their information security controls.

Information Security 40

Information Security CSO Risk Insurance 40

SecureWorld News

MAY 29, 2024

He has been in the information security and technology field for the past 20 years working in education, financial, telecommunication, healthcare, and insurance sectors. Fred Kwong is VP and CISO at DeVry University and is based in Chicago, IL. He also serves as an adjunct faculty member at Roosevelt and Benedictine Universities.

Cybersecurity 108

Cybersecurity CSO Technology Telecommunications 108

CSO Magazine

JANUARY 25, 2021

HIPAA (the Health Insurance Portability and Accountability Act ) is a law passed in 1996 that transformed many of the ways in which the healthcare industry operated in the United States. HIPAA summary: What is HIPAA?

Insurance 114

Insurance Healthcare Accountability 114

CSO Magazine

JUNE 8, 2022

Such CISOs will have also gained experience in managing “budgets, people resources, peer executive and board interaction, and law enforcement and insurance liaison responsibilities.” To read this article in full, please click here

CISO 121

CISO Insurance Threat Detection Government 121

CSO Magazine

JANUARY 24, 2023

Industry respondents also expressed concerns over identity theft at 4%, unavailable or unaffordable cyber insurance at 4%, geopolitical risks at 3%, DDoS attacks at 2% and website defacement at 0.9%, according to CSI’s annual survey of the financial sector.

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Cyber threats Identity Theft Cyber Insurance Insurance 111

CSO Magazine

NOVEMBER 17, 2022

It’s no wonder more companies are turning to cyber insurance to help recoup their losses when they do have to pay a ransomware settlement. Cyber insurance can also be a double-edged sword. That’s an option – but think of it as a parachute for your parachute; it doesn’t take the place of having all of your other safety guards in place.

Cyber Insurance 91

Cyber Insurance Ransomware Insurance Hacking 91

CSO Magazine

JANUARY 20, 2022

In January 2022, the FBI issued a public warning over a USB attack campaign in which numerous USB drives, laced with malicious software, were sent to employees at organizations in the transportation, defense, and insurance sectors between August and November 2021. Postal Service and UPS.

Insurance 123

Insurance Malware Software Risk 123

CSO Magazine

MARCH 17, 2022

Organizations that do not pay ransomware risk potential losses that far outweigh the financial hit taken from an extortion fee, which gives attackers a clear advantage.

Ransomware 113

Ransomware Cyber Insurance Insurance Government 113

CSO Magazine

JUNE 30, 2021

one of the largest insurance companies in the U.S., The true cost of ransomware extends beyond the ransomware payment. Case and point: In early 2021, CNA Financial Corp., paid a $40 million ransom to hackers after an attack left their data compromised and the company locked out of their network.

Ransomware 107

Ransomware Insurance Threat Reports 107

SecureWorld News

JUNE 2, 2022

Fun fact: my six years as CSO of Trexin is my first official full-time security role! Cyberpunk never dreamed that the legal and insurance (business) dimensions would change the very definition of "protect" for us cyber leaders! Question: What encouraged you to join your current company?

Cybersecurity 97

Cybersecurity CSO Telecommunications Technology 97