As states continue to labor toward health insurance exchanges, there have been concerns raised regarding the safety of medical and insurance documents stored online. These concerns stem from a provision of the Affordable Care Act that has health care and insurance professionals store consumer information electronically to allow quick and easy access. Electronic storage will be a major part of the coming online insurance exchanges, as it will allow doctors to access important medical information when treating patients. The safety of these documents has been questioned as hackers continue to…
Read MoreTag: cyber security insurance
P&C insurance agents must keep ahead of the latest threats to privacy
Agents and brokers for property and casualty insurance are being advised to keep abreast of the very latest information and statistics regarding the ever-growing risk of cyber attacks and the different kinds of coverage solutions that can allow their clients to decrease financial exposure. As hacking into private information of all types – financial, personal, and medical, for example – becomes increasingly common, insurance professionals must be able to keep up so that they can offer their clients the right forms of coverage, particularly in terms of miscellaneous professional liability.…
Read MoreU.S. Commerce Department Seeks Internet Code of Conduct
The U.S. Commerce Department has issued a report that states that companies doing business over the internet should be bound by a code of conduct that will help to minimize online theft and hacking behaviors. Recommendations made by the department included enhanced identity authentication, as passwords and login information are currently easily and regularly hacked and stolen. The department also encouraged the use of cutting edge technologies that help to make certain that when web users enter a URL into their browsers, they will actually be brought to that domain…
Read MoreHackers access account info in Citibank network breach
Citigroup Inc. has announced that the information to connected to 200,000 North American cardholder accounts has been accessed by hackers when they breached the bank’s network in May. According to Citigroup, the breach was detected in early May and allowed the hackers to view the names, contact information, and account numbers of customers. However, it assures customers that other forms of personal information, such as social security numbers, birthdates, as well as the card security codes (CVV) and expiration dates of the cards were not revealed. This cyber attack is…
Read MoreBusiness owners may want to rethink cyber liability coverage
The age of technology brings with it risks that have never been faced before. As more businesses adopt technology and become ever integrated with it, they must protect themselves from malicious attacks. The concept of “cyber crime” has, in previous years, been of little concern. Companies both large and small have fallen prey to hackers but they often recover and improve their security methods. However, the recent and continuous attacks against tech giant Sony have spawned a new wave of concern amongst the world’s businesses. Now, protection from the very…
Read More