According to U.S. cybersecurity analysts, 12 small groups of hackers from China are responsible for more than $1 billion worth of data from companies throughout the nation. These groups have been monitored by McAfee, a prestigious Internet security company, who drew upon information collected over time. Earlier this year, McAfee tracked intrusions into the U.S. energy grid back to China, where the hacker groups were finally identified after years of arduous investigation. Last month, U.S. intelligence officials formally rebuked China for its part in the intrusions, but no other action was…
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Insurance leader unveils new CyberRisk product
Travelers Bond & Financial Products has released their latest product, CyberRisk, which has been designed to minimize the cyber exposure and connected risks to their business clients. According to the product manager of the leading insurance company, Jason Glasgow, “Cyber risks leave businesses exposed regardless of size, industry or track record.” He explained that though organizations may put many powerful strategies into place in order to limit their exposure opportunities, there remain a large range of additional risks beyond obtaining data within a single hacker attack. Cyber liability for a…
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