Tag: cyber security

ENISA calls for improvements to European cyber insurance marketplace

S.Vagus
Cyber Insurance policies commissioners industry

The organization feels that this coverage is required for better EU IT security. The European Network and Information Security Agency (ENISA) has released a report that claims that the European Union is in dire need of significant improvements to its cyber insurance marketplace in order to encourage companies to better protect their data and information systems. The report showed that the current EU marketplace is lagging behind the United States. It pointed out that there are only a small few insurers that are even offering cyber insurance, and that they…

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Cyber security not a serious matter for small businesses, according to The Hartford

S.Vagus
Cyber Insurance industry popularity

Survey shows that cyber security receives little attention from small businesses in the U.S. Cyber security is an issue that many small businesses do not take seriously, according to a new survey from The Hartford, one of the largest insurance and financial services companies in the U.S. Hacking and data breaches are becoming more commonplace as the years go by. Hackers are beginning to push the boundaries of cyber security, keen to exploit any weaknesses they can find. According to The Hartford, many of these hackers are finding little resistance…

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MasterCard and Visa warn of massive security breach, insurers highlighting the need for cyber security

Financial giant MasterCard has announced that there may have been a breach in its security systems this week. The potential breach is linked to a third-party vendor based in the United States. MasterCard has contacted banks and law enforcement to mitigate the problems caused by the security breach and has also elicited the aid of an independent security organization to assess the extent of the damage the breach may have caused. This particular breach could have an impact on more than 10 million customers around the world. MasterCard has been…

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Electronic medical records present high risk to insurance industry

Nordstrom

As per new federal laws, the nation’s medical records will soon be stored electronically. These new electronic records will be a part of the state-run health insurance exchange programs that are designed to help consumers find affordable health care. Insurers participating in these programs will have access to a person’s medical records to help price insurance policies. Going electronic has some major risks, however, and these risks have never been more apparent than they are today. While the advancement of technology has brought many benefits to humanity as a whole,…

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Legislators meet to determine a course of action for cybersecurity

Marc

A bipartisan cybersecurity bill may be heading for Congress this week. Federal lawmakers have been discussing the growing threat residing in the digital world and what it means for national security and that of citizens. Over the years, several companies have been the target of cybercrimes such as hacking and data theft. The recent security breaches at Sony Online Entertainment, which compromised the financial information of thousands of consumers, highlight the need for new legislations that encourage cyber insurance. Cyber insurance – that is, insurance that protects against cybercrime –…

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