Tag: Sony

Cyber insurance is lacking

S.Vagus
cyber insurance industry

Cyber security is gaining more attention, but insurance coverage is failing to meet companies’ needs Cyber security is becoming a major issue and the growing prevalence of malicious attacks of businesses is leading to a higher demand for cyber insurance. There are now 50 carries of cyber coverage in the insurance industry, but these coverage is not easy to obtain and many businesses suggest that most coverage is inadequate. The problems with cyber protection are related to the complicated nature of cyber attacks. The actual damage these attacks cause, in…

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Liability insurance against cyberattacks becoming more popular in the US

Logan B.
cyber insurance

More companies are purchasing liability insurance to protect against cyberattacks A growing number of companies throughout the U.S. are purchasing liability insurance to cover the potential threats they face from cyberattacks. Insurer Marsh Inc. notes that data breaches and other cyberattacks have caused a spike in its business over the past year, with sales of liability insurance coverage for these attacks rising by a third. Marsh claims that companies that already had liability insurance coverage for cyberattacks are purchasing even more protection in order to guard themselves against hackers and…

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Facebook clashes with employers over passwords and user accounts

Marc

Facebook is a majorly successful social network. Hundreds of thousands of people use the network each day to share information with their friends and participate in various online communities. The network is also popular amongst businesses, though not in the same way as it is with consumers. To many businesses, Facebook is a tool for social media marketing. It can be used to market to a specific demographic, or to investigate a potential hire. The latter purpose is becoming more commonplace, and Facebook is looking to put an end to…

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Zurich American takes Sony to court over data breach claims

H. Cutner

A new court case between the Zurich American insurance company and Sony – its client – may set a precedent for future decisions made regarding an organization’s liability and coverage at the time of a data breach. The insurer has stated that it will not cover Sony’s costs for the many class-action lawsuits that have occurred following the massive database breaches it experienced earlier in 2011, and is seeking the support of the courts for its decision. Sony has already reported that it anticipates that the direct financial cost of…

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Sony claims efforts to protect intellectual property made it a hacker target

H. Cutner

Sony Corp. has announced that it believes the reason that hackers targeted its networks was because it was making attempts to protect its intellectual property. The announcement was made at a shareholders’ meeting for the company by its CEO, Howard Stringer, at the same time that he dodged a request for him to step down from his leadership position in the organization. Sony was attacked by hackers in April 2011, when 77 million user accounts were breached, allowing the attackers to gain access to the personal information within them. The…

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