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Category Archives: Data Breaches

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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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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Data Breach-Related D&O Litigation Continues to Emerge

Data Breach-Related D&O Litigation Continues to EmergeThe impact from data breaches has entered the corporate boardroom, as we first discussed in the wake of high-profile cases Target and Wyndham Worldwide in which plaintiffs initiated data breach-related derivative lawsuits against their respective boards. When the Wyndham case was dismissed, however, many felt that perhaps directors and officers were spared, but a year later Home Depot was hit with a data breach-related shareholder’s derivative lawsuit, once again shining

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External Cyber Security Risks Gain Traction Over Internal Threats

External Cyber Security Risks Gain Traction Over Internal ThreatsHackers, Criminal Syndicates, State-Sponsored Attackers Top Cyber Threats

A new report recently issued by Ernst & Young LLP (EY) reveals that companies increasingly view external cyber security risks as a likely source of threat. This is a shift in viewpoint over previous years when insider threats were seen as the biggest risk. Mind you, employees are still viewed as a significant risk to cyber security but, according to the report, …

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Privacy & Network Security Insurance for Healthcare Industry

Privacy & Network Security Insurance for Healthcare IndustryNumber of Healthcare Breaches Calls for Broad Insurance Coverage

San Diego-based Identity Theft Resource Center last month released a report citing that the number of data breaches so far this year is at 411, which is a 20.5% increase over the same time period last year. What’s more, healthcare breaches continue to account for the largest percentage of the overall breaches, at 44.5%, or 183 breaches. The number of breaches …

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The Need for Corporate Boards to Oversee Cyber Security Risks

The Need for Corporate Boards to Oversee Cyber Security RisksTarget’s Cyber Security Breach Puts Greater Focus on Role of Directors & Officers

In a prepared statement Tuesday, June 10th, at an event at the New York Stock Exchange, SEC Commissioner Luis Aguilar called on corporate boards to ensure they’re taking the necessary steps to address and oversee their companies’ cyber security risks. Ensuring the adequacy of a firm’s cyber security measures “needs to be a critical …

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Small Businesses Must Step Up Cyber Security Measures, Insurance Program

Small Businesses Must Step Up Cyber Security Measures, Insurance ProgramStudy Reveals Disconnect Over Cyber Risks Among Small Firms

Small businesses are the backbone of the U.S. economy, with one out of two Americans employed by a small company, according to the U.S. Small Business Administration. Yet small businesses are not doing all they can to protect their firms from the increasing risk of cyber exposures. In fact, a 2012 study by the National Cybersecurity Alliance reveals a real …

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Cyber Insurance: Reputational Damage, Loss of Customers Fall-Out from Data Breaches

Cyber-Insurance-Reputational-Damage-Loss-of-Customers-Fall-Out-from-Data-Breaches-300x200

 New Study Shows Reputation, Loss of Customer Loyalty Cause Most Damage to Bottom Line

We’ve all been watching closely the fall-out from Target’s data breach during the holidays late last year when the retailer disclosed that 40 million credit card and debit cardholders were compromised. A month later in January, Target raised its number of customers affected by the breach to 70 million and lowered its fourth-quarter profit forecast (in …

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Employment Practices Disputes Among Most Common Litigation Issues for Firms

Employment Practices Disputes Among Most Common Litigation Issues for FirmsEmployment Matters, Regulatory Actions, Privacy All Top Litigation Trends

This year’s Norton Rose Fulbright’s Annual Litigation Trends Survey was just released, indicating that employment disputes and contract matters once again were the most common litigation issues facing companies in the United States. A total of 48% of respondents said that labor and employment issues topped the number of cases their organizations faced in 2013, and 36% said contract issues were …

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E-Filing Services Benefit Title Agents

E-Filing Services Benefit Title AgentsErrors & Omissions & Privacy Insurance for Risk Protection

 

Counties throughout the country are increasingly simplifying the process of recording land records and submitting documents through e-filing services. Title agents, banks, attorneys, lien filers and government agencies use these on-line services to expedite the recording process in addition to saving money. Prior to e-filing, counties typically accepted documents sent by express mail, courier service or via walk-ins to …

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