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Category Archives: Cyber Liability

Social Engineering Fraud: A Risky Commercial Crime

Social engineering fraud is a blanket term that is used to describe cyber crimes that are designed to deceive and manipulate victims into giving out confidential personal and financial information and funds. Cyber criminals target a variety of victims with this type of crime. Essentially, anyone with an email address and bank account is vulnerable to social engineering fraud. However, businesses are a popular target due to the resources they …

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Computer Security Day Is Coming Up: Protect Your Business From Cyber Attacks

Computer Security Day Is Coming Up: Protect Your Business From Cyber AttacksOn November 30th, we will celebrate the international holiday Computer Security Day. The day was created in 1988, when computers started to become ubiquitous in business and in people’s personal lives. Since then, the day has served as a reminder to be aware of computer security and to protect against cyber risks. There are multiple things that you can do at your business during this day in order to protect

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Top Cyber Liabilities For Businesses

Top Cyber Liabilities For Businesses

As technology has evolved, so have the ways in which it can be exploited. As October is National Cyber Security Awareness month, it’s important that every business take a look at their current cyber practices and the new trends in technology in order to be aware of potential sources for cyber attacks and to protect themselves accordingly. In addition to having Cyber Liability insurance to cover them in the event

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Artificial Intelligence in the Workplace and Cyber Security Concerns

Artificial Intelligence in the Workplace and Cyber Security ConcernsMany of you have probably used some form of artificial intelligence in your day-to-day lives, whether it is using Amazon’s Echo or Apple’s Siri to gain information or Tesla’s Autopilot feature on the road. Artificial intelligence isn’t just growing in our everyday lives; many businesses today are starting to implement artificial intelligence and machine learning into their workplaces to perform certain duties, increase productivity, and take some of the strain

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Cyber Crime: WannaCry Screams the Need to Protect Against Ransomware

Cyber Crime: WannaCry Screams the Need to Protect Against RansomwareRansomware as a threat has been on the scene for a while, but it’s increasingly rising and widespread. Take a look at WannaCry, the recent ransomware that affected more than 200,000 computer systems in more than 150 countries and crippled transportation and hospitals globally. The majority affected were Windows-based computers that were not updated with a recently available and easily deployed patch.

Ransomware is a type of malware that, upon

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Cyber Trends for 2017: Are You Prepared?

Cyber Trends for 2017 Are You Prepared

Last year, executives, consumers, and even the election were hit by data leaks, malware, phishing attacks, and ransomware. In fact, according to Carbonite, an online backup service, almost one in five small business owners say their company has had a loss of data in the past year. Carbonite and other industry experts expect this number to grow this year, particularly for small businesses that lack the resources of …

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Cyber Trends: Growing Demand for Coverage in Professional Services

Cyber Trends Growing Demand for Coverage in Professional Services

A number of trends and shifts in Cyber Liability Insurance, a much-needed insurance solution, were cited in the survey’s recent report:

  • There is an increasing demand for cyber insurance coverage in sectors beyond healthcare, retail, and financial institutions, such as professional services.
  • There have been shifts in the factors driving cyber sales, especially as more third parties are requiring the coverage.
  • The importance of first-party coverage is changing as new
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Cyber Liability: Common Causes of Healthcare Data Breaches

Cyber Liability Common Causes of Healthcare Data BreachesResearch from Verizon Enterprise Solutions shows that almost 75% of healthcare data breaches can be linked to three common security problems: improper or criminal accessing of credentials to information systems; losses of or thefts of laptops; and unintentional errors, such as sending sensitive information to the wrong person. Managing these issues can significantly impact a healthcare organization’s overall security performance.

How big is the problem? According to the Ponemon Institute’s …

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Cyber Liability: Professionals Beware the Rise of Ransomware

Cyber Liability: Professionals Beware the Rise of RansomwareThe rise of ransomware as a cyber liability threat is underscored in a new Kaspersky Lab report, which revealed a 14% increase in ransomware in the first quarter of 2016. In fact, the company’s Securelist blog stated that ransomware has topped targeted attacks as the “main theme of the quarter.” Additionally, Enigma Software reported that this past April was ransomware’s biggest month ever in the United States, with the number …

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Healthcare Facilities, Organizations Prime Targets of Cyber Crimes

Healthcare Facilities, Organizations Prime Targets of Cyber Crimes

In March, hospital chain MedStar became the latest victim of a cyber attack in the health care sector, as hackers infiltrated its systems with a virus that crippled its IT infrastructure. MedStar operates 10 hospitals in the D.C./Baltimore region, and serviced more than 4.5 million patient visits in 2015, according to Fortune magazine. After the cyber attack, the hospital’s entire IT system was forced to shut down and revert to …

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