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: commercial cyber liability
Lloyd’s of London specifies cyber crime as a major insurance issue
Cyber crime is an issue of immense concern according to Lloyd’s of London, one of the world’s leading insurance and reinsurance providers. Risk modeling firms are becoming more concerned over what they are calling “the huge potential cost of data loss.” In the wake of the attack against Sony Online Entertainment, in which hackers made away with the financial data of more than 100 million user accounts, those concerns seem to be warranted. A study from the Ponemon Institute found that in 2010, the cost of data breach rose for…
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…
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