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Treasury Department Says Banks Need Cyber Risk Insurance by Filed Under

06/12/2014 12:32

Amid a plethora of cyber infiltrations, data breaches and hacking threats, one United States Treasury Department official is urging financial institutions to adopt cyber risk insurance in order to deal with these potentially catastrophic risks. Speaking at an industry...

Data Loss, Downtime Cost Businesses $1.7 Trillion By Nathan Eddy

06/12/2014 12:29

Business trends, such as big data, mobile and hybrid cloud, are creating challenges for data protection, according to the EMC survey. Data loss and downtime cost enterprises $1.7 trillion in the last 12 months, according to the findings of a global data protection study sponsored by EMC...

NetDiligence® Publishes Fourth Annual Study of Actual Payouts on Cyber Claims and Data Breaches

04/12/2014 06:01

PHILADELPHIA, Dec. 3, 2014 /PRNewswire/ -- NetDiligence®, a leading cyber risk assessment and data breach services company, announced today it has published its fourth annual Cyber Claims Study, a study of actual losses for covered data breaches paid out by various leading cyber...

Cyber espionage ring stole corporate secrets

03/12/2014 22:04

Security researchers say they have uncovered a cyber espionage ring focused on stealing corporate secrets for the purpose of gaming the stock market, in an operation that has compromised sensitive data about dozens of publicly held companies. Cybersecurity firm FireEye, which disclosed...

Recent hacking involving Sony Pictures Entertainment shows need for business interruption cover in cyber insurance: CFC Underwriting

02/12/2014 07:10

Last week's hacking incident involving Sony Pictures Entertainment highlights the importance of having cyber insurance that includes business interruption cover and demonstrates the negative effect of not being able to access tech systems even for a short period, suggests CFC Underwriting. The...

10 insurance mistakes to avoid in 2015 by Scott Simmonds, CPCU, ARM

30/11/2014 23:49

At least a few of the 365 days in 2015 will include a calamity or two for your bank. Many will be small. A few might be large. Some that start small might morph into large. Make sure your bank’s insurance is up to the task of protecting your assets from the calamities. Here are some insurance...

Forensics and the Internet of Things: the car of the future will be a data goldmine by Ben Rossi

23/11/2014 11:29

Thanks to great leaps forward in automotive technology, cars that once might have been the stuff of futuristic Hollywood films are now inching towards reality. Driverless cars have recently been given the green light. The UK Department of Transport hopes autonomous vehicles will be ready for trial...

Hackers Don’t Care About the Terms of Your Insurance Policy by J. Andrew Moss and Brian Himmel

22/11/2014 22:25

The Importance of Retroactive Dates and Extended Reporting Periods in Effective Cyberliability Insurance Coverage A recent study reports that the median amount of time between an intrusion into a company’s computer network and the discovery of the incident is 229 days. The difficulty and...

Report Benchmarks Privacy in Fortune 1000 Companies by Judy Selby

22/11/2014 07:48

Total privacy spending across the biggest U.S. companies is predicted to rise to $3B in 2015. Earlier this month, the International Association of Privacy Professionals released its inaugural report of Benchmarking Privacy Management and Investments of the Fortune 1000. The goal of the...

RBS fined £56m for IT breakdown by Jill Treanor

22/11/2014 07:44

6.5 million customers at Royal Bank of Scotland, NatWest and Ulster Bank affected by computer meltdown in June and July 2012 Royal Bank of Scotland has promised that there will be no repeat of the June 2012 IT meltdown that left 6.5 million customers locked out their accounts for days and led to...

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