Collaborate Disseminate
The best way to maintain a defensible security posture is to have an information security program that is current, robust, and measurable. An effective information security program will provide far more protection for the operational state of your orga… Continue reading Insurance Occurrence Assurance?
Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. Companies like retailers, banks, and healthcare providers began seeking out cyberinsurance in the early 2000s, when states fi… Continue reading Cybersecurity Insurance
Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. Companies like retailers, banks, and healthcare providers began seeking out cyberinsurance in the early 2000s, when states first passed data breach notification laws. But even with 20 years’ worth of experience and claims data in cyberinsurance, underwriters still struggle with… Continue reading Cybersecurity Insurance
The following article, authored by Michael Magrath, Director, Global Regulations & Standards, first appeared 2/28/18 on CSO Online. The New York State Department of Financial Services (DFS) regulates over 1,400 insurance companies and approximatel… Continue reading Financial Services Cybersecurity: NY DFS & NIST Align on Multi-factor Authentication
Insurance providers can build trust — and win over crucial market segments — by embracing digital transformation.
The post Bringing Digital Transformation to Insurance appeared first on Security Intelligence.
Continue reading Bringing Digital Transformation to Insurance
Apple and Cisco will be partnering with two insurance firms to give organizations discounts on cyber insurance policies when they use equipment from both technology companies. The two tech giants, along with Allianz SE and Aon Plc, will give companies a full suite of options for managing their cyber risk. Participants will receive cheaper insurance policies through Allianz if they use Apple’s iPhone, iPad, and Mac along with Cisco’s ransomware defense products. Enterprises also will able to undergo a “cyber resilience evaluation,” courtesy of Aon, that will assess security postures and recommend ways to improve defenses. In the event of an attack, companies will have access to Cisco and Aon’s Incident Response teams. “Organizations urgently need to be managing these risks from both the technical and the financial perspective,” said Aon Cyber Solutions CEO Jason Hogg in a statement. “We can provide customers with guidance on what cyber defenses, resources and processes to […]
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Continue reading Apple, Cisco team up with cyber insurers for policy discounts
The U.S. economy could lose an estimated $15 billion if a major cloud provider were to suffer a major cyberattack that disabled it for a few days, according to a report published Tuesday by Lloyd’s, the London-based specialist insurance market, and AIR Worldwide, a risk modeler. With large and small business increasingly relying on cloud services, the report was written to explain the potential impact if a major cloud provider such as Amazon Web Services, Google or Microsoft became inoperable. The report doesn’t tie the $15 billion figure to any particular cause of cloud downtime — it could be a natural disaster, structural failure or human error, not just an attack. The authors do emphasize, though, that large-scale cyberattacks are an emerging risk. “Cyber criminals are becoming increasingly sophisticated, attacks are happening on a larger scale and are harder to stop, and the ever-expanding internet of things is broadening the range of possible targets,” it says. The […]
The post U.S. economy could lose billions if attack shut down major cloud providers, report says appeared first on Cyberscoop.
It’s the last month of this year, but possibly not the last data breach report.
Nissan warns of a possible data breach of personal information on its customers who financed their vehicles through Nissan Canada Finance and INFINITI Financial Services C… Continue reading Nissan Finance Canada Suffers Data Breach — Notifies 1.13 Million Customers
On the heels of Lemonade raising $120 million from Softbank for its new “peer-to-peer” spin on insurance services, another company aimed at disrupting the insurance market is announcing a major round of its own. Bima, a European start… Continue reading Bima raises $97M from Allianz for microinsurance aimed at emerging markets
New paper: "Policy measures and cyber insurance: a framework," by Daniel Woods and Andrew Simpson, Journal of Cyber Policy, 2017. Abstract: The role of the insurance industry in driving improvements in cyber security has been identified as mutually beneficial for both insurers and policy-makers. To date, there has been no consideration of the roles governments and the insurance industry should… Continue reading A Framework for Cyber Security Insurance