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Cyber insurance premiums rocket after high-profile attacks

12/10/2015 15:38

BOSTON (Reuters) - A rash of hacking attacks on U.S. companies over the past two years has prompted insurers to massively increase cyber premiums for some companies, leaving firms that are perceived to be a high risk scrambling for cover. On top of rate hikes, insurers are raising...

Cyberinsurance: Buyer Beware: 10 Tips For Upping Recovery Odds From Cyber And D&O Policies by David E. Wood and Joshua Gold

11/10/2015 15:42

While the risks posed by data breaches are by now widely recognized, effective management of the risk is lagging. Statistics indicate that concern about data breaches is up, yet half of all businesses have no plans to dedicate more resources to avert these perils. The purchase of dedicated...

The Morning Download: Amazon Puts Muscle Behind Nascent Internet of Things by Steve Rosenbush

11/10/2015 15:37

Good morning. Amazon.com IncAMZN +1.25%. has jumped into the Internet of Things, which falls into the category of good ideas whose time hasn’t quite come. The company’s Amazon Web Services business introduced a new service called AWS IoT, which will allow developers to link...

Warren Buffett enters the cybersecurity insurance market

08/10/2015 06:39

Insurance giant Warren Buffett is entering one of the most lucrative spaces in the industry. Buffett’s Berkshire Hathaway Specialty Insurance unveiled on Tuesday two new insurance policies providing coverage for cyber liability and breach response, alongside resources for risk management. The...

Retailers Most Vulnerable to Cyber Breaches at Point-of-Sale By Stephanie K. Jones

07/10/2015 13:38

In justifying a reluctance to purchase cyber insurance coverage for data breaches, many retailers insist they don’t store credit card information after a sale. But experts say the headline-generating data breaches at retailers across the country in the past few years — think Target, Neiman Marcus,...

Europe's Highest Court Invalidates EU - U.S. Safe Harbor Data Sharing Agreement

07/10/2015 07:25

Today the European Court of Justice — Europe’s highest court — invalidated the Safe Harbor agreement and framework that has permitted more than 4,000 companies to transfer personal data from the EU to the U.S. The decision can be found here. In light of this decision, U.S. companies that...

Demand for cyber risk insurance market on the rise

06/10/2015 20:05

According to a new report from Timetric, the cyber risk insurance market is experiencing rapid development, with the size of global gross written premiums growing from US$850 million in 2012 to an estimated US$2.5 billion in 2014. The cyber risk insurance market is gaining traction due to a growing...

Unlocking the potential of the Internet of Things

02/10/2015 09:22

The Internet of Things—sensors and actuators connected by networks to computing systems—has received enormous attention over the past five years. A new McKinsey Global Institute report, The Internet of Things: Mapping the value beyond the hype, attempts to determine exactly how IoT technology...

Experian Data Breach Resolution releases its Annual 2015-2016 Data Breach Response Guide

01/10/2015 20:22

A Ponemon Institute study sponsored by Experian Data Breach Resolution found that a majority of businesses surveyed had a data breach response plan in place, but many were not confident in their response and did not practice their plan through discussions or drills. To help companies take...

CEO and Data Breach Management by Nikos Georgopoulos

01/10/2015 12:16

Data breaches and cyber security have struck new fear into the hearts of every company because of the nature of the information they handle. As we have seen in the recent data breaches, the way a company handles a crisis plays an important role in whether the CEO and senior management (CIO,...

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