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Insurance industry may need a better understanding of cyber insurance

January 20, 2015January 17, 2015 Logan B.

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…

Cyber insurance helps Sony recover from major attack

January 15, 2015January 14, 2015 Logan B.

Sony Pictures was rocked by a major cyber attack last year Last year, Sony Pictures was the victim of a major cyber attack that has been called the most destructive event of its kind on a U.S. company. The attack saw a massive amount of personal information exposed to the public, including information concerning the company’s production schedule and the information of millions of consumers. The attack was blamed on hackers in North Korea, and the event was tentatively tied to the release of the movie “The Interview,” which Sony…