Tag: data breach

Cyber liability insurance is experiencing a rapid evolution

Julie Campbell
digital integration hubs insurance

As high profile data breaches become headlines on a regular basis, awareness of this coverage is expanding. The risk of a data breach is rapidly on the rise and as it is coming to the point that no one feels safe from this potential problem, awareness of cyber liability insurance is climbing as well, and the result has been a rapidly evolving coverage sector. The latest estimates are that the data breach at JPMorgan Chase could impact 76 million households. As the risk rises and as it is continually in…

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The insurance industry is beginning to take cyber attacks seriously

S.Vagus
Cyber Insurance policies commissioners industry

Insurers are beginning to develop policies to protect energy grids The insurance industry is beginning to focus more heavily on the digital world. As cyber attacks become more common, their devastating impact is beginning to be better understood by insurers, and some companies have begun offering policies that aim to protect against attacks that could target the energy sector. A significant attack could lead to major, long lasting blackouts that would have serious implications for businesses and consumers alike. As such, insurance protection is becoming more important in order to…

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Home Depot serves as a reminder of the importance of cyber insurance

S.Vagus
Home Depot Cyber Insurance

Retailer falls victim to a major data breach that could have compromised consumer financial information Home Depot recently announced that it had fallen victim to a data breach that may have compromised the financial information of customers visiting 2,200 of its stores located in the U.S. and Canada. The company suggests that there has not yet been any evidence that this financial information has been compromised. The attack on Home Depot again highlights the growing importance of cyber insurance. This form of insurance coverage may not be able to stop…

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Cyber insurance could be lacking for banks when it comes to protection

S.Vagus
cyber insurance theft id higher rates

Banks may not benefit from cyber liability insurance as much as they may believe Recent cyber attacks have highlighted the dangers that exist in the digital world. These dangers are still not fully understood, due to the fact that many businesses have only very recently begun the process of “digitizing” themselves. Banks are among those that have only recently begun to grow more digital, and this means that cyber insurance is beginning to attract more attention from these financial service organizations. The problem is, however, that insurance may not be…

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Federal insurance exchange website hacked

Julie Campbell
hacked phone federal health insurance exchange

The hacker was able to break in and upload malicious software, but reports say that personal data remained safe. According to federal officials, a hacker was able to make its way into the HealthCare.gov federal insurance exchange website back in July and even managed to upload malicious software into the site. That said, investigators have stated that there is no evidence that consumer personal data was accessed. They said that personal data of consumers was neither viewed nor taken during the breach of the federal insurance exchange site. At the…

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