Tag Archives: data breach

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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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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Cyber Liability: Get In the Know About Security Breach Notification Changes

Cyber Liability Get In the Know About Security Breach Notification ChangesForty-seven states currently require employers to notify employees when personal information such as Social Security numbers are acquired by unauthorized parties. This can be rather complicated for multi-state employers as notification laws differ from one state to the next. Moreover, the undertaking has become even more complicated with eight states having enacted amendments in 2015 to their breach notification laws with new and unique requirements.  The bottom line: It’s essential …

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New Cyber Study Reveals Average Total Data Breach Claim at $673,767

New Cyber Study Reveals Average Total Data Breach Claim at $673,767Leading cyber risk assessment and data breach services company, NetDiligence, recently released its fifth annual Cyber Claims Study, which takes a look at actual losses for data breach events covered by various leading cyber liability insurance carriers. The findings in the report are from a sampling of 160 cyber liability insurance claims, examining the type of data exposed, the cause of loss, the business sector in which the incident occurred …

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Survey Shows Nearly 70% of Businesses Target of Hacking

Cyber Liability Coverage An Integral Component of the Insurance MixHartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, recently released its findings from a cyber survey of businesses of risk managers and found that close to 70% of businesses have experienced a hacking incident in the last year. Moreover, half (55%) of the risk managers surveyed don’t believe their company is dedicating enough money or trained and experienced personnel to combat the latest hacking techniques. The …

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Cyber Liability: Data Breaches and Role of the CEO

Cyber Liability Data Breaches and Role of the CEOA survey of 200 directors of public companies conducted by security firm Veracode and the New York Stock Exchange Governance Services (NYSEGS) shows that corporate boards have become much more serious about data breaches and are willing to hold top executives accountable for them, as recently discussed in an article in Christian Science Monitor. This is not at all surprising considering the havoc that data breaches wreak on companies …

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Cyber Liability: Lessons Learned After a Data Breach

Takeaways from High-Profile Data BreachesTakeaways from High-Profile Data Breaches

Recent high-profile data breaches from Target and Home Depot to Sony, Anthem and most recently Premera have risk executives and managers looking for the lessons to be learned in mitigating such compromises. Following are some takeaways, courtesy of SurfWatch.

  • Take a look at potential threats to your organization from all vantage points, not simply from a technical view. Focus on the human element, the tools
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Cyber Liability: Data Breach Hits Premera Blue Cross

Cyber Liability in the Forefront in Wake of Healthcare Breaches

Just over a month since we learned of Anthem’s massiCyber Liability: Data Breach Hits Premera Blue Cross ve data breach affecting 80 million records, health insurer Premera Blue Cross has disclosed that an intrusion into its network may have resulted in the breach of financial and medical records of 11 million customers. The company learned of the attack back in late January and preliminary investigations show that …

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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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Is Your Firm Cyber-Ready?

Is Your Firm Cyber-ReadySurvey Shows Most Businesses Without An Effective Cyber Response Plan

This month the SANS Institute, a cooperative research and education organization, released survey results citing that only 9% of respondents labeled their cyber incident response capabilities as very effective. Furthermore, according to the report titled, “Incident Response: How to Fight Back”, 26% stated they were dissatisfied with their plan, citing lack or time to review and practice procedures (62%) and …

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