Security News

US insurers use drone photos to deny home insurance policies
2024-04-08 20:30

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Avoid high cyber insurance costs by improving Active Directory security
2024-03-19 14:02

Insurance broker and risk advisor Marsh revealed that US cyber insurance premiums rose by an average of 11% in the first quarter of 2023, and Delinea reported that 67% of survey respondents said their cyber insurance costs increased between 50% and 100% in 2023. Reinforcing Active Directory security is one way to protect an organization's critical infrastructure and manage or even potentially reduce the costs of cyber insurance.

IT leaders think immutable data storage is an insurance policy against ransomware
2024-03-14 04:00

69% consider this data storage essential to their corporate cybersecurity, and only 12% of those who deployed immutable data storage say it is not essential. This is followed by France at 96%, Germany at 94% and the UK at 85%. While a relatively low number of IT leaders worldwide who currently use immutable data storage do not regard it as "Essential" to their cybersecurity strategy, a larger percentage resides in the UK: 24% of UK respondents have deployed it but say it is not essential to their cybersecurity, compared to 11% in France, 9% in the US and 6% in Germany.

A Cyber Insurance Backstop
2024-02-28 12:02

One possible solution, touted by former Department of Homeland Security Secretary Michael Chertoff on a recent podcast, would be for the federal government to step in and help pay for these sorts of attacks by providing a cyber insurance backstop. A cyber insurance backstop would provide a means for insurers to receive financial support from the federal government in the event that there was a catastrophic cyberattack that caused so much financial damage that the insurers could not afford to cover all of it.

Insurance website's buggy API leaked Office 365 password and a giant email trove
2024-01-18 01:58

Toyota Tsusho Insurance Broker India, an Indo-Japanese joint insurance venture, operated a misconfigured server that exposed more than 650,000 Microsoft-hosted email messages to customers, a security researcher has found. Zveare then examined the calculator web page on the TTIBI website and saw that it included a client-side function that created a request to send email using a server-side API. "This caught my eye because this was a client-side email sending mechanism," he wrote in a post describing his findings.

Title insurance giant First American offline after cyberattack
2023-12-21 19:06

First American Financial Corporation, the second-largest title insurance company in the United States, took some of its systems offline today to contain the impact of a cyberattack. "First American has experienced a cybersecurity incident," the company said in a statement published on a website dedicated to the cyberattack.

Cyber insurance predictions for 2024
2023-11-16 05:00

In this Help Net Security video, Dara Gibson, Senior Cyber Insurance Manager at Optiv, discusses cyber insurance and what we should expect to see in 2024: Ransomware, BEC, and pixel privacy claims...

American Family Insurance confirms cyberattack is behind IT outages
2023-10-21 20:10

Insurance giant American Family Insurance has confirmed it suffered a cyberattack and shut down portions of its IT systems after customers reported website outages all week.American Family Insurance is an insurance company focusing on commercial and personal property, casualty, auto, and life insurance, as well as offering investment and retirement planning The company employs 13,000 people and has a 2022 revenue of $14.4 billion.

Keeping up with the demands of the cyber insurance market
2023-10-12 05:00

When American International Group launched the first cyber insurance policy in 1997, it stepped into completely unknown territory to gain market share. While in the UK adoption rates of cyber insurance vary significantly depending on the size of an organization, the US has seen a notable spike in demand across many markets for the past two years, with premiums increasing by 50% in 2022, in large part due to increasing ransomware attacks.

Cyber insurance costs pressure business budgets
2023-10-09 03:00

Cyber insurance is a type of insurance policy that provides financial protection and support to individuals and organizations in the event of cyber incidents, including data breaches, hacking, ransomware attacks, and other cyber threats. It typically covers expenses such as data recovery, legal fees, notification costs, public relations efforts, and regulatory fines, helping policyholders manage the financial impact and recovery process following a cyberattack or data breach.