Tag Archives: Cyber Breach

Survey: Financial Services Firms to Boost Cyber Security Budgets

Survey Financial Services Firms to Boost Cyber Security BudgetsIncreased Spending for Cyber Protection Underscores Ongoing Threat

According to a new survey by accounting and consulting firm PricewaterhouseCoopers (PwC), financial-services companies plan to bolster their cyber security budgets by about $2 billion over the next two years in an effort to combat hackers. Joe Nocera, a technology-consulting partner at PwC, who worked on the study, said the spending at the 758 companies would likely rise 10% to 20% annually …

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Why Securing Cyber Insurance from Specialists is Important

Not All Cyber Policies Are Created Equal, Respond to Specific ExposuresNot All Cyber Policies Are Created Equal, Respond to Specific Exposures

While Cyber Liability, also known as Privacy & Network Security insurance, has been in existence for a decade, it’s over the past few years, as a result of high-profile cases and the frequency of data breaches, that the critical importance of this coverage has come to light for all business across all industry sectors. Today, there are more …

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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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Why Cyber Liability Insurance is Important to Educational Institutions

Why Cyber Liability Insurance is Important to Educational InstitutionsGreater Cyber Crime Sophistication, Information Flow Opens Door to Hackers

The number of data breaches making headlines in the last couple of months has grabbed the public’s attention, including those involving educational institutions, underscoring the need for stronger cybersecurity measures and Cyber Liability insurance. One of the most recent data breaches involves the University of Maryland (U-Md), which made headlines in mid-February when it announced that it suffered a …

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