Heimadal Security

SEPTEMBER 14, 2023

A data breach in the financial sector is one of the most impactful events in the cybersecurity landscape. That is because Banking, Financial Services, and Insurance (BFSI) institutions/ financial institutions safeguard and store not only our money but also very valuable data.

Banking 97

Banking Risk Cybersecurity Financial Services 97

Schneier on Security

APRIL 12, 2018

Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. Companies like retailers, banks, and healthcare providers began seeking out cyberinsurance in the early 2000s, when states first passed data breach notification laws.

Insurance 133

Insurance Cybersecurity Data breaches Retail 133

CyberSecurity Insiders

JUNE 5, 2023

MOVEit produced by Progress Software is taking all precautions to mitigate the risks associat-ed with the incident and has informed the staff of Zellis on how to neutralize the effects of the cyber-attack. The post Zellis Cybersecurity Incident causes BA and Boots employee info data breach appeared first on Cybersecurity Insiders.

Data breaches 122

Data breaches Cybersecurity Insurance Ransomware 122

SecureWorld News

APRIL 17, 2023

When considering adding a cyber insurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyber insurance can help ensure compliance with these requirements. Let's break it down to the pros and cons.

Cyber Insurance 103

Cyber Insurance Insurance Risk CISO 103

IT Security Guru

AUGUST 7, 2024

The insurance industry is experiencing a significant transformation fuelled by the ubiquity of digital technologies. As these solutions gain traction in this sector, they add complexity to a regulatory landscape that insurance firms need to navigate, especially when it comes to Customer Identity and Access Management (CIAM).

Insurance 106

Insurance Data collection Authentication Technology 106

SecureWorld News

SEPTEMBER 10, 2024

Avis Car Rental has begun notifying close to 300,000 individuals about a data breach that occurred in August 2024, resulting in the theft of sensitive personal information. The breach reportedly exposed customer names, addresses, driver license numbers, and other personal data.

Data breaches 95

Data breaches Identity Theft Cybersecurity Mobile 95

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.

Cyber Insurance 222

Cyber Insurance Insurance Data breaches Risk 222

Malwarebytes

NOVEMBER 13, 2023

The US State of Maine says it has suffered a data breach impacting around 1.3 The type of stolen data varies from person to person, likely because the data breach affected multiple agencies in the State. The breach also impacted several other departments. million people. Watch out for phishing emails, too.

Data breaches 119

Data breaches Identity Theft Insurance Education 119

Security Affairs

JUNE 29, 2024

Infosys McCamish Systems (IMS) revealed that the 2023 data breach following the LockBit ransomware attack impacted 6 million individuals. IMS specializes in providing business process outsourcing (BPO) and information technology (IT) services specifically tailored for the insurance and financial services industries.

Data breaches 91

Data breaches Identity Theft Insurance Ransomware 91

SecureWorld News

JUNE 5, 2024

Department of Health and Human Services (HHS) has stepped in to ensure patients are made aware if their sensitive data was compromised during February's massive cyberattack on health IT firm Change Healthcare. Patient safety is directly impacted by cybersecurity hygiene.

Healthcare 88

Healthcare Data breaches Identity Theft Insurance 88

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. According to the Ponemon Institute and IBM, the global average cost of a data breach is $4.24 As the number and severity of data breaches continues to rise, organizations are recognizing that those costs are not theoretical. Cyber Insurance is Booming.

Cyber Insurance 119

Cyber Insurance Insurance Marketing Small Business 119

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. However, it also exposes companies to additional layers of risk. All stakeholders, including insurers, need to understand whose cyber insurance policy responds to an incident.

Risk 86

Risk Cyber Insurance Insurance Data breaches 86

Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. For many years, organizations had limited options for addressing data protection risks. A company could never eliminate risk, but they could try to reduce or mitigate it. The function of cybersecurity insurance. Damage or loss of data.

Insurance 71

Insurance Cybersecurity Risk Ransomware 71

Security Affairs

FEBRUARY 28, 2024

Pharmaceutical giant Cencora suffered a cyber attack and threat actors stole data from its infrastructure. Pharmaceutical giant Cencora disclosed a data breach after it was the victim of a cyberattack. Optum Solutions is a subsidiary of UnitedHealth Group, a leading health insurance company in the United States.

Data breaches 95

Data breaches Healthcare Insurance Ransomware 95

SecureWorld News

APRIL 29, 2024

Kaiser Permanente, one of the largest not-for-profit providers of health care and coverage in the United States, is dealing with the fallout from a significant data breach that has affected more than 13 million individuals. The company is also reviewing and strengthening its cybersecurity measures.

Data breaches 89

Data breaches Healthcare Identity Theft Advertising 89

IT Security Guru

FEBRUARY 28, 2023

Cyber insurers are losing money. Their loss ratios – total claims plus the insurer’s costs, divided by total premiums earned – are now consistently above 60%, which presents something of an existential threat to the insurance industry, making cyber risk a potentially uninsurable area due to falling profitability.

Cyber Insurance 113

Cyber Insurance Insurance Marketing Cyber Risk 113

Security Boulevard

MAY 11, 2022

With ransom demands rising and the cost of data breaches soaring, businesses are investing heavily in building their cyber defenses. However, cybersecurity is not bullet-proof. Buying a cyber risk insurance program can help outsource residual risk, and deploying multi-factor authentication is […]… Read More.

Cyber Risk 52

Cyber Risk Insurance Authentication Risk 52

SC Magazine

FEBRUARY 8, 2021

Every time a driver buckles up or an airbag is deployed we see the powerful influence of the insurance companies who insisted those measures become mandatory. Now, those insurers are poised to drive cybersecurity investment by insisting that organizations meet certain criteria to qualify for coverage. A maturing model.

Insurance 126

Insurance Cyber Insurance Cybersecurity Government 126

Malwarebytes

JULY 2, 2024

million people had been impacted by the resulting data breach. As one of the largest insurance companies in the US, Prudential employs 40,000 people worldwide and reported revenues of over $50 billion in 2023. million in a new breach notification. The attack was discovered one day after it started, but not before some 2.5

Data breaches 94

Data breaches Identity Theft Passwords Phishing 94

Heimadal Security

SEPTEMBER 14, 2023

A data breach in the financial sector is one of the most impactful events in the cybersecurity landscape. That is because Banking, Financial Services, and Insurance (BFSI) institutions/ financial institutions safeguard and store not only our money but also very valuable data.

Banking 52

Banking Risk Cybersecurity Financial Services 52

CyberSecurity Insiders

SEPTEMBER 12, 2022

Cyber security analysts suspect the data can be used for extortion and can be apparently sold on the dark web for huge profits. Currently, there is zero evidence that the data has been misused or compromised and claimed that the info of its 2030 employees was safe and risk free.

Data breaches 114

Data breaches Cyber Attacks Identity Theft Banking 114

Cytelligence

OCTOBER 18, 2023

To mitigate these risks, businesses often invest in cyber insurance. However, there is a powerful and cost-effective tool that businesses can utilize to reduce their cyber insurance costs: strong passwords. As a result, these businesses pose a lower risk, leading to lower insurance premiums.

Cyber Insurance 64

Cyber Insurance Insurance Passwords Cyber Attacks 64

BH Consulting

JUNE 22, 2021

Organisations are coming under increasing pressure to take out cybersecurity insurance cover. Also known as cyber risk insurance, it’s now a prerequisite in some public sector tenders. Sometimes, contracts or proposals ask suppliers for both cybersecurity insurance and documented security controls.

Insurance 83

Insurance Cybersecurity Cyber Insurance Cyber Risk 83

eSecurity Planet

MAY 27, 2021

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers. Insurers Assessing Risks.

Cyber Insurance 128

Cyber Insurance Insurance Cyber Attacks Ransomware 128

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With businesses becoming more and more digitized, they are exposed to greater cyber risks. And while organizations are taking steps to protect against cyber attacks, cybersecurity controls are not impenetrable.

Cyber Insurance 77

Cyber Insurance Insurance Cyber Risk Authentication 77

SecureWorld News

JULY 3, 2024

Organizations increasingly rely on global talent outsourcing to bolster their cybersecurity capabilities. However, this trend also introduces significant data security risks that cannot be overlooked. Unauthorized access to sensitive data 1. Data breaches and leaks 1.

Risk 87

Risk Data breaches Penetration Testing Encryption 87

CyberSecurity Insiders

DECEMBER 14, 2022

–( BUSINESS WIRE )–Brendan Hall has joined Alliant Insurance Services as a Senior Vice President as part of the newly created Alliant Cyber, one of 14 Alliant industry-dedicated verticals. He brings over 20 years of experience in the cybersecurity industry. About Alliant Insurance Services. IRVINE, Calif.–(

Insurance 52

Insurance Cyber Insurance Cyber Risk Risk 52

SecureWorld News

MARCH 28, 2024

Department of Treasury on March 27th released a report titled "Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector." The report highlights the growing concern around artificial intelligence (AI) and its potential to introduce new cybersecurity threats to the financial industry.

Risk 80

Risk Artificial Intelligence Cybersecurity Financial Services 80

Centraleyes

APRIL 9, 2024

According to IBM’s recently released “Cost of a Data Breach” statistics report, the average financial toll of a data breach has surged to an unprecedented $4.45 Regional Disparities in Data Breach Costs The United States emerges with a significantly higher average cost of $9.4

Data breaches 52

Data breaches Cyber Insurance Insurance Ransomware 52

Centraleyes

MAY 6, 2024

The insurance industry is no exception. The insurance industry is built on handling our own and everyone else’s risks. As artificial intelligence shatters glass ceilings, the risks it introduces present a new paradigm to the insurance market in many different areas.

Insurance 52

Insurance Artificial Intelligence Cyber Insurance Marketing 52

SecureWorld News

SEPTEMBER 27, 2024

announced new legislation aimed at bolstering cybersecurity within the U.S. The legislation is a direct response to a surge in cyberattacks targeting healthcare providers, breaching patient privacy, and disrupting care delivery across the nation. Today, Senate Finance Committee Chair Ron Wyden (D-Ore.) and Senator Mark Warner (D-Va.)

Healthcare 58

Healthcare Cybersecurity Artificial Intelligence Insurance 58

CyberSecurity Insiders

SEPTEMBER 20, 2021

Besides reputational damage, cybersecurity attacks also lead to operational disruptions that lead to loss of revenue. When a company finds ways to stay safe from cybersecurity attacks , its confidential information and data remain secure and confidential. Here are ways businesses can stay ahead of cybersecurity attacks.

Cybersecurity 121

Cybersecurity Insurance Passwords Encryption 121

Security Boulevard

JUNE 29, 2022

According to Accenture , more than 68 percent of business leaders feel their cybersecurity risks are increasing. That’s no surprise really, especially when considering that data breaches exposed some 36 billion records in the first half of 2020 alone.

Cyber Insurance 52

Cyber Insurance Insurance Data breaches Risk 52

SecureWorld News

NOVEMBER 30, 2021

The Starwood reservation system it was acquiring had been hacked, because of a data breach that began long before the two companies became one. M&A cyber risk is real. DNA testing company data breach impacts personal information. However, it does not appear that medical information was taken in this breach.

Data breaches 82

Data breaches Insurance Cyber Risk Risk 82

Security Affairs

JUNE 12, 2021

Volkswagen America discloses a data breach at a third-party vendor that exposed the personal details of more than 3.3 Volkswagen America discloses a data breach suffered by a third-party vendor used by the car vendor for sales and marketing purposes. SecurityAffairs – hacking, data leak). million of its customers.

Data breaches 125

Data breaches Marketing Insurance Hacking 125

SC Magazine

JULY 13, 2021

million patients have been impacted by a health care data breach so far in 2021, a whopping 185% increase from the same time period last year where just 7.9 The attacks on our nation’s critical infrastructures, which includes our hospital systems, has resulted in government agencies showing a renewed focus on cybersecurity.”.

Data breaches 113

Data breaches Insurance Healthcare Education 113

Security Boulevard

MARCH 10, 2023

The post ‘Extraordinary, Egregious’ Data Breach at House and Senate appeared first on Security Boulevard. Capitol Trouble: Senators, representatives and staffers suffer PII leak. Could it finally kickstart some action?

Data breaches 132

Data breaches Social Engineering Insurance CISO 132