Tag: cybersecurity

45,000 Affected in Root Insurance Data Breach – NY Attorney General Takes Action

Angela Linders
Root Insurance Data Breach

Auto Insurer Root Fined $975,000 Over Data Breach Impacting Thousands of New Yorkers When it comes to handling sensitive information, insurance companies shouldn’t just be crossing their fingers and hoping for the best. Root Insurance recently learned this lesson the hard way. The New York Attorney General’s Office imposed a stinging $975,000 fine on the auto insurer after a data breach compromised the personal information of 45,000 New Yorkers. Let’s unpack what this means for Root, the industry, and the road ahead. Regulatory Actions Hit Hard After Serious Breach New…

Read More

Allstate’s $4 Billion Acquisition Comes with a Cybersecurity Crisis

Angela Linders
Allstate Cybersecurity Crisis

New York Sues Allstate over Data Breach Failures A new lawsuit filed by New York Attorney General Letitia James has sparked renewed attention on the importance of cybersecurity, particularly in industries holding sensitive personal information. The case targets National General, a subsidiary of Allstate, accusing the company of failing to report a data breach and neglecting to implement reasonable safeguards to protect customer data. Here’s what we know so far and what it means for you. The Breach That Sparked the Lawsuit According to a recently published article on Reuters,…

Read More

Ransomware: To Pay or Not to Pay

David Derigiotis
Ransomware: To Pay or Not to Pay

When one threat actor group is taken down another one appears in its place ready to devastate organizations. The number one cyber threat? Ransomware. By 2031, ransomware will cost victims an annual total of $265 billion. Until recently, the largest ransomware payment was $40 million by CNA Financial to regain control of their systems. Now, Dark Angels—one of the top cyber threat groups to watch—broke the record for the largest ransomware payment by almost double the largest payment at $75 million. With ransomware attacks increasing and becoming more costly, the…

Read More

Cyber insurance is not a priority among many small and midsize businesses

Nordstrom
Cyber insurance coverage - Digital

SMBs often don’t see the need for the coverage because they don’t expect to be affected by such incidents. According to the results of a new poll, approximately half of the small and midsize businesses (SMBs) operating out of Singapore don’t feel that they need cyber insurance or are undecided as to whether it offers them any potential benefit. This trend aligns with those in the United States, according to several past polls. The SMBs feel that they are not at risk because they don’t store sensitive data online. According…

Read More

Fraud and Scams That Can Easily Hit You or Your Family and How to Protect Yourselves

Guest Author

In a world with ever-changing and advancing technology, our habits and schedules regularly shift. The way we utilize that technology changes regularly, and often for the better. But, as technology shifts, so do various fraud and scam operations.  Thanks to generational gaps, fraud and scam techniques can affect anyone in your family, from your senior parents to your children. It’s crucial to be vigilant when it comes to both old and new “techniques” scammers like to use. Educating yourself and the people you love can make a big difference when…

Read More

Cybersecurity insurance popularity but some companies face denials

H. Cutner
Cyberattacks insurance companies

There are a number of common reasons that are causing insurers to deny coverage to a business. While it has become clear to the majority of companies that cybersecurity insurance can provide vital protection against financial hardships caused by cybercriminals. As a result, demand for coverage has skyrocketed in recent years. Unfortunately, many interested companies have found themselves denied coverage. Despite increasing interest in cybersecurity insurance, the simultaneous rise in threats have forced insurers to be more hesitant to provide coverage. There are several common reasons that a business might…

Read More

Protecting Your Business: 3 Ways to Safeguard Your Company

Angela Linders

Every industry is subject to specific regulations, runs different processes, and operates on varied morals and values. Yet, most companies are united by various risk factors that may impact their revenue, online security, reputation, and lifespan. New and experienced entrepreneurs can’t afford to ignore the threats to your business, as ignorance will not be bliss when facing a lawsuit, a substantial fine, or a cyberattack. Protect your business and read these three ways to safeguard your company. The tactics could be crucial to your company’s survival and success. 1. Purchase…

Read More