Live Insurance News

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

September 17, 2014September 15, 2014 S.Vagus

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…

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

September 9, 2014September 6, 2014 S.Vagus

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…

Cyber insurance is becoming more important

August 27, 2014August 25, 2014 Nordstrom

Cyber security is becoming a priority as new vulnerabilities are revealed and digital attacks become more common Cyber security is gaining more serious attention, especially as new OpenSSL vulnerabilities are announced. Two new vulnerabilities were revealed recently, both of which allow malicious groups or individuals to exploit information stored on an insecure computer or mobile device. Cyber attacks are becoming more common and they are beginning to attract actual attention, moving from the realm of modest concern to serious problem. Cyber insurance may be able to help ease the problem,…

High-profile attack highlights importance of cyber insurance

August 25, 2014August 23, 2014 S.Vagus

Community Health Systems files comment with federal government concerning recent data breach Tennessee’s Community Health Systems, an operator of acute care hospitals, has filed a statement with the federal Securities and Exchange Commission concerning a recent data breach that compromised patient medical files. The organization’s hospitals store patient information digitally in order to ensure that this information can be accessed more easily. Digitizing these records can be a risky practice because of the complex and unpredictable nature of cyber attacks. 4.5 million people may have been affected by the cyber…

Cyber insurance is lacking

August 8, 2014August 5, 2014 S.Vagus

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…