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Were thrilled to unveil our latest threat landscape report for the finance and insurance sector, offering in-depth analysis of the evolving cyber threats facing this industry. Stolen data is weaponized in double-extortion schemes, with ransom demands averaging $69 million.
Cyber insurance is a topic that many industry professionals have an opinion on. Some believe it should be a requirement for organizations to have in the event of a cyberattack, while others might prefer to rely on their securitydefenses and avoid paying a costly rate. cyber insurance rate changes.
As the demand for robust securitydefense grows by the day, the market for cybersecurity technology has exploded, as well as the number of available solutions. Businesses have to comply with legal, insurance, and industry regulations for data storage, management, and transmission. Better compliance management.
Health Insurance Portability & Accountability Act (HIPAA) The Health Insurance Portability and Accountability Act (HIPAA) sets standards for protecting sensitive health information, particularly electronic health records (EHRs).
They often include insurance and recovery assistance if your identity is compromised. Get the Free Cybersecurity Newsletter Strengthen your organization's IT securitydefenses by keeping up to date on the latest cybersecurity news, solutions, and best practices.
Password Management Product Guide 8 Best Password Management Software & Tools Cyber Insurance Cyber insurance is a fast-growing type of liability insurance, most often purchased by organizations that need to protect highly sensitive customer data.
Destruction of forensic artifacts will prevent incident response investigations and criminal investigations, and could affect cybersecurity insurance processes. The problem: Progress Software released patches to fix CVE-2024-2389 in their Flowmon network performance and security software tool.
Jeremy Nichols, NTT Security Holdings Director, Global Threat Intelligence Center, recommends that “healthcare providers need to strongly assess supply chain providers, third party integrations, and customer and insurance web portals.
Ransomware attacks have become much more dangerous and have evolved beyond basic securitydefenses and business continuity techniques like next-gen antivirus and backups. The problem is that businesses are not yet aware of double or triple extortion ransomware and how these tactics can affect their data protection strategies.
How to Integrate IRM with Compliance & Regulatory Requirements All data security compliance and regulation requirements focus on specific risks for specific assets. For example, the Health Insurance Portability and Accountability Act (HIPAA) regulates personal health information and imposes fines for data breach or data inaccessibility.
For example, the Health Insurance Portability and Accountability Act (HIPAA) only applies to organizations that transmit, store, or receive health data. In some cases, the vendors will offer certificates, such as System and Organization Controls Type 2 (SOC 2), that can be used to satisfy some compliance criteria.
For example, amid the heightened COVID-19-related cyberattacks in the initial months of the pandemic, the HHS Office for Civil Rights released a list of privacy and security resources to help providers bolster securitydefenses and prevent violations of the the Health Insurance Portability and Accountability Act.
For example, if the firm handles healthcare data, the firewall policy must comply with the Health Insurance Portability and Accountability Act (HIPAA) to protect patient information and ensure compliance. This displays the organization’s dedication to legal and regulatory norms, lowering the danger of legal ramifications.
Breach damages of $300k to $1 million may be within the risk tolerance for some, and many may expect to recoup damages from cybersecurity insurance. Overloaded Alerts 1Password found that 32% of their surveyed security professionals switched security tools or vendors in the past year to ones that provide more complete end-to-end solutions.
For example, The Health Insurance Portability and Accountability Act (HIPAA) requires security features such as encryption to protect patients’ health information. The Family Educational Rights and Privacy Act (FERPA) requires encryption or equivalent security measures to protect private student records.
Defense in Depth Defense in depth assumes that any single security control may fail. Additional security layers implement effective controls and assure data confidentiality by adding additional insurance against breaches, zero day vulnerabilities, or tool failure.
Organizations first looked to augment their existing web application security tools and processes to “address” API security. Unfortunately, the security challenges associated with APIs can't be solved by simply updating existing testing tools and edge securitydefenses to check-the-box technologies that claim to provide "API security."
Example: “This policy is in accordance with the General Data Protection Regulation (GDPR), the Health Insurance Portability and Accountability Act (HIPAA), and other applicable data protection regulations. All cloud services and operations must comply with these standards to secure personal and sensitive data.”
The domains of cybersecurity, cybercrime investigations, and cyber insurance will all be impacted. Bagnall sees four key areas that will be affected by the tariff wars, including cross-border vulnerability research; cybercrime investigations; impact on the public sector and small businesses; and impact on the cyber insurance industry.
Have hope that through the hard work and brilliant minds behind these securitydefenses that 2022 will not be a repeat of such high level attacks. Learn more about what security leaders have to say about the upcoming year below: Neil Jones, cybersecurity evangelist, Egnyte.
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