Tag: data breach

Anthem insurance company suffers massive security breach

Julie Campbell
Anthem insurance company cyber attack letter screen cap

The second largest health insurer in the U.S. is scrambling to deal with the exposure of data for 80 million customers. Up to 80 million customers – including the CEO – of the Anthem insurance company have had their private data stolen as the insurer has said in a statement that it was the victim of a tremendous security breach. The president and CEO announced that “Anthem was the target of a very sophisticated external cyber attack.” Joseph Swedish, the CEO and President of the insurance company, posted a statement…

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Cyber insurance helps Sony recover from major attack

Logan B.
cyber insurance industry

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…

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Cyber insurance gets a shot in the arm from the U.K. government

Julie Campbell
Cyber Insurance industry popularity

The government is encouraging businesses to better mitigate their risks through this type of policy. The government of the United Kingdom is seeking to increase the adoption of cyber insurance as a method of bettering the way that organizations within the country are able to manage the risks associated with issues such as data breaches. Companies of all size and security protection are experiencing data breaches and cyber attacks at a growing rate. At a summit that was hosted with a number of CEOs from the cyber insurance industry, the…

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Cyber insurance is becoming increasingly necessary

S.Vagus
Cyber Insurance policies commissioners industry

Data breaches are becoming more common As data breaches become more common, cyber insurance is attracting more attention. Recent high-profile attacks against companies like Home Depot and JPMorgan Chase have highlighted the damage that a data breach can cause. Companies that do business online often store a wealth of information provided by their customers. This information can be anything from names and addresses to bank and other financial data. While cyber insurance cannot guarantee that a company is safe from an attack, it can help mitigate the damage caused by…

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Cyber crime insurance launched by former US homeland security chief

Julie Campbell
identity theft cyber insurance

The coverage is the result of a collaboration among syndicates operating through the Lloyd’s of London market. A new cyber crime insurance product has now been launched by Tom Ridge, a former U.S. Secretary of Homeland Security, by his firm, which created it in collaboration with a number of syndicates that operate through the Lloyd’s of London. This insurance coverage is meant for businesses with under $500 million in market capitalization. This means that approximately 80 percent of all American publicly quoted companies fit into the target market for this…

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New cyber insurance company being backed by Lloyd’s of London

Logan B.
cyber insurance agent

Tom Ride to work with Lloyd’s in order to form a new insurance organization Tom Ridge, the United States’ first Secretary of Homeland Security, is working with Lloyd’s of London in order to launch a new company that will specialize in cyber insurance. Many of the world’s businesses have become inseparably reliant on technology. Much like the physical world, the digital world is not a safe place and there are many risks that businesses face by embracing technology more completely. Without adequate insurance coverage, companies targeted by malicious digital attacks…

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Cyber liability insurance is experiencing a rapid evolution

Julie Campbell
digital integration hubs insurance

As high profile data breaches become headlines on a regular basis, awareness of this coverage is expanding. The risk of a data breach is rapidly on the rise and as it is coming to the point that no one feels safe from this potential problem, awareness of cyber liability insurance is climbing as well, and the result has been a rapidly evolving coverage sector. The latest estimates are that the data breach at JPMorgan Chase could impact 76 million households. As the risk rises and as it is continually in…

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