Tag: cyber attacks

Senate places a focus on cyber insurance coverage against data breach

G. Turner
cyber insurance companies security mobile

A subcommittee is currently looking into the protection that is required for consumers through those policies. U.S. Senator Jerry Moran (R-Kansas), the chair of the Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security recently held an “Examining the Evolving Cyber Insurance Marketplace” hearing to place the focus on the issue of data breaches. This hearing looked into the market selling policies that are meant to provide consumers with protection against cyber attacks. It examined the rapidly growing cyber insurance market and heard experts speaking about the various challenges,…

Read More

Health insurance data breach exposes data of 11 million consumers

Logan B.
Health Insurance Data Breach

Premera Blue Cross has revealed that it was the victim of a major data breach Another health insurance company has revealed that it has been the victim of a major data breach from hackers. Premera Blue Cross has confirmed that hackers have breached its consumer database, with malicious attacks going as far back as May 2014. The insurer believes that the financial and medical information of 11 million people may have been exposed in the attack. If true, this would make the attack the largest of its kind against a…

Read More

Health insurance companies have been affected by severe data breach

Logan B.
health insurance news security privacy

Blue Cross Blue Shield of Michigan may have been caught up in the data breach at Anthem The cyber attack against health insurance provider Anthem continues to send ripples throughout the United States. In January of this year, Anthem was the victim of a major data breach, which compromised the personal information of more than a million of the company’s clients. In Michigan, the cyber attack against Anthem seems to have involved another health insurance company, as well. Blue Cross Blue Shield of Michigan has reported that there is a…

Read More

Cyber insurance is becoming more important for businesses

Logan B.
Cyber Insurance Coverage

Fallout from major data breach at Anthem highlights the need for cyber insurance Following the major cyber attack against health insurance provider Anthem, numerous insurers are beginning to promote cyber insurance. Last week, Anthem confirmed that it was the victim of a major data breach, wherein hackers stole personal information concerning the company’s clients from its databases. Anthem noted that no financial information was compromised by the attack, but more insurers are beginning to stress the importance of adequate cyber insurance protection. Oklahoma Insurance Commissioner is promoting digital protection In…

Read More

Insurance industry may need a better understanding of cyber insurance

Logan B.
google insurance cyber industry

Cyber insurance continues to be an issue for the insurance industry Cyber insurance has been around since the 1990’s, but the insurance industry has only recently begun to place more focus on digital threats. Following major attacks against companies like Home Depot, Target, and Sony Pictures, the insurance industry has been working to introduce better cyber insurance products. Better protection may be needed for businesses that could be targeted by malicious groups, as cyber attacks could cause major financial damage that can be very difficult to recover from. Adequately pricing…

Read More