As insurers are growing more concerned with the threats posed by cybercrime, they are looking for ways to mitigate any damage that may be caused. Nationwide Insurance has announced that it will be expanding its identity theft insurance policies that offer protections for personal information kept on home computers. The insurer is now offering free access to security software for those with appropriate insurance policies. Nationwide hopes that this will provide another layer of protection for consumers and cut down on instances of cybercrime. According to the Bureau of Justice…
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Markel launches new DataBreach plan to help health care providers defend themselves against cybercrime
Markel Insurance Co. has launched a new line of insurance coverage for health care providers. The new coverage provides protections against cybercrime and hacking. The Affordable Care Act requires that an individual’s medical and insurance information be stored electronically as part of a state-run insurance exchange. The exchange system is designed to give consumers access to affordable insurance coverage, but their information may be the target of hackers eager to test the defenses of the new system. U.S. companies became acutely aware of the dangers inherent in the digital world…
Read MoreTD Insurance enables customers with identity theft-busting tools
TD Insurance Inc. has announced that it is taking steps to make it simpler for its customers to monitor their own accounts so that they have added protection against identity theft. The insurer, which is among the top 10 bank-owned insurance agency and brokerage firms in the country, as well as TD Bank, “America’s Most Convenient Bank”, are offering their customers the use of the ITAC Sentinel Plus program. Its features include the following: • Daily surveillance of debit and credit card accounts over the internet, with additional monitoring of…
Read MoreCyber security a major issue for the U.S. according to inquisitive task force
Cyber security is a growing area of concern in the business world. A number of major attacks have shown the danger of having lackluster protection and has cost some companies millions of dollars. The damage wrought from these attacks in not only shouldered by the targeted companies, however, they have also produced grievous financial wounds on consumers who had their identities and financial information compromised in the attacks. A Congressional task force, which was tasked with the duty of investigating the importance of cyber security, has released recommendations to lawmakers…
Read MoreIdentity theft protection now available to Allstate customers in California
Allstate Insurance Company has unveiled its latest offering to residents of California, which consists of identity theft expenses coverage, that will help to minimize the cost and the time needed by victims who need to salvage their identities. Every year, approximately 9 million people in the United States fall victim to identity theft, resulting in millions of dollars and hours spent for the recovery of the stolen identities. According to Assistant Field Vice President Phil Telgenhoff from Allstate, the victims of some of the more challenging cases of identity theft…
Read MorePersonal identity theft protection tips following a breach of your account
The past few months have clearly demonstrated that no account – no matter the organization or security measures taken – is immune to access by a determine hacker, so it is important for everyone to know what they should do in order to protect themselves once an attack has occurred. Millions of Americans experience data breaches every year, increasing their risk of various types of fraud, such as identity theft and financial fraud, as their personally identifiable information (PII) may have been obtained by an unauthorized individual. Experts are recommending…
Read MoreZurich American takes Sony to court over data breach claims
A new court case between the Zurich American insurance company and Sony – its client – may set a precedent for future decisions made regarding an organization’s liability and coverage at the time of a data breach. The insurer has stated that it will not cover Sony’s costs for the many class-action lawsuits that have occurred following the massive database breaches it experienced earlier in 2011, and is seeking the support of the courts for its decision. Sony has already reported that it anticipates that the direct financial cost of…
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