Article archive

Is it the Internet of Things or Internet for People?

26/06/2016 09:56
MIT researcher and entrepreneur Kevin Ashton first coined the term “Internet of Things” (IoT) in 1999 while working at Auto-ID Labs. Ashton was referring to a global network of objects connected by radio-frequency identification (RFID). Nearly two decades later, perhaps it’s time to...

Data breach lawsuit highlights the need for due diligence in buying cyber insurance

26/06/2016 09:51
Well-known restaurant chain P. F. Chang’s China Bistro just sustained a significant hit to its cyber insurance coverage.  The federal court’s opinion serves as a lesson to policyholders regarding cyber insurance in a rapidly evolving market.  Due diligence is the name of the game when...

Hacked university touts cyber insurance after $15,000 ransomware attack

26/06/2016 09:48
Cyber insurance didn’t keep the University of Calgary from recently paying roughly $15,000 after being hit by hackers, but a college official said other schools should consider buying coverage after seeing first-hand how costly a cyberattack can be. After school computers...

The rise of cybercrime and the need for cyber ransom liability insurance

20/06/2016 08:35
With the growing frequency of cyberattacks, healthcare organizations are discovering the need for an extra layer of protection to cover the loss of funds incurred from a security breach. Over the last few years, the healthcare industry has had its consciousness raised over hacking and...

Cyber threats stir worries but no action when it comes to buying cover by Sarah Veysey

20/06/2016 08:33
HARROGATE, England — Cyber threats pose the biggest worries for members of U.K. risk management association Airmic Ltd., but less than half actually buy the coverage. Forty-six percent of the 150 risk managers surveyed cited cyber-related business interruption, and 44% said cyber risks resulting in...

Lessons Learned From 11 Years of Cost of Data Breach Research BY LARRY PONEMON

18/06/2016 13:35
Today, I am pleased to announce the release of the 2016 Cost of Data Breach report in partnership with IBM Security. Every year, we report on the findings from our survey of organizations worldwide — this year in 383 companies across 16 industries and in 12 different countries. In the global report...

2016: The Year of Cyber Insurance?

14/06/2016 07:34
It has been said that there are two types of companies in the world – those that have been hacked, and those that do not yet know they have been hacked. While perhaps an overstatement, it seems that every day, another company (sometimes public, sometimes private) announces that it has been the...

Cyber insurance is changing the way we look at risk

14/06/2016 06:09
by Yoav Leitersdorf, Ofer Schreiber, Iren Reznikov. If, or more accurately, when your company is hit by a cyber attack, do you have what you need to recover? Do you know what kind of losses you can afford to absorb in your bottom line? How do you manage your risks? Have you thought about whether...

InfoSec 2016: EU GDPR - Don't panic, prioritise - and do the right thing for your customers

10/06/2016 06:44
Don't panic, prioritise and plan for EU GDPR - and if you do the right thing for your customer, the chances are you will be compliant and avoid potentially hefty fines for data breach. Don't panic, prioritise - and do the right thing for your customers. “It's all about how you treat people...

Cyber security insurance can help protect business against Panama Papers-level data breaches

10/06/2016 06:36
In the wake of the release of the so-called Panama Papers, businesses have dreaded suffering from such data breaches that expose their most confidential information. Cyber security insurance, however, offers a way for companies to offset the financial losses following such a disastrous data...
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