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03/08/2014 20:26
Cyber insurance is now booming, with about 50 carriers in the industry. An increasing number of companies have cyber insurance to protect against cyber crime. However, businesses claim it’s not easy to get adequate coverage.
Losses from data breaches are difficult to quantify. The tangible losses...
03/08/2014 09:28
While insurance companies can provide a one-stop shop for breach notification, crisis management and public relations after a security disaster, many organizations are not aware of the sublimits of coverage on their policies -- often regulatory issues or legal defense -- until they make a claim....
01/08/2014 18:29
A lawyer produces information containing personally identifiable information about a client’s employees to another law firm. One of the lawyers at the other law firm downloads a copy of that file and stores it, unencrypted, on their laptop. The laptop is then stolen at the airport. Does anyone have...
30/07/2014 19:49
Insurers put food on the table by preparing for disasters that most people would rather not think about: fires, hurricanes, earthquakes, car accidents, collapsing buildings. Now they're increasingly writing policies for another worry — cyberattacks.
One of the many changes brought by the Internet...
29/07/2014 20:48
In recent years, insurance companies have been finding themselves affected by the rising number of major incidents of cyberattacks. On the one hand, this trend presents a business opportunity for selling cyber insurance to organizations concerned about protecting their sensitive assets. On the...
29/07/2014 07:43
Our survey offers rare insight into how consumers apportion responsibility for preventing data breaches. The findings show widespread consumer worry around retail data breaches, and a strong belief that retailers are not doing enough to protect customer information. Moreover, consumers are heading...
24/07/2014 07:20
Data security breaches almost always give rise to a risk of reputational damage to the company responsible for controlling and processing the data. From the moment the breach occurs, the media may start making inquiries and/or publish or broadcast allegations about the breach.
Also,...
24/07/2014 07:15
You walk into your office on a Saturday morning during tax season to find a staff member waiting for you with sweaty palms and a look of terror on her face. She takes a while to get the words out, but you soon learn that she backed up some client files to an unencrypted flash drive and dropped it...
24/07/2014 07:06
Summary and implications
The Article 29 Working Party (the Working Party) has issued a new Opinion on personal data breach notification that will have important repercussions for all data controllers in the European Union.
Data controllers are strongly advised to read the Opinion and to consider...
20/07/2014 09:02
Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market. But their lack of experience and skills handling hackers and data breaches may keep their ambitions in check.
High profile cases of hackers seizing sensitive customer data from companies, such as US retailer Target...
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