Cofense™, the global leader in intelligent phishing defense solutions, announced its strategic relationship with CNA, one of the largest commercial property and casualty insurance companies in the United States. Cofense will provide security awareness training as part of CNA CyberPrep, the latest addition to CNA’s suite of cyber liability insurance products designed to help companies… Continue reading Cofense and CNA Strengthen Security Awareness within Cyber Insurance Industry
Tag: Cyber Liability insurance
Federal Prosecutors Accuse Capital One Hacker of Hitting Dozens More Targets
The woman charged with hacking into millions of Capital One Financial Corp. records hit more than 30 other targets, federal prosecutors said, significantly expanding the scale of what was already considered one of the largest heists of data stored in the cloud. Paige A. Thompson, a former Amazon.com Inc. employee, was arrested on July 29,… Continue reading Federal Prosecutors Accuse Capital One Hacker of Hitting Dozens More Targets
State Farm Suffers Data Breach
State Farm, the insurance provider in the US, has been compromised in a credential stuffing attack, according to a news report. The firm, says the report, acknowledged the cyberattack, filing a data breach notification with the California Attorney General, and by sending out “Notice of Data Breach” emails to users whose online account log-in credentials… Continue reading State Farm Suffers Data Breach
U.S. Small Business Owners Need More Cybersecurity Safeguards
Eighty-three percent of small business owners allow and offer employees the option to work securely from a remote location when needed and appropriate, according to Nationwide’s fifth annual Business Owner Survey. With young business owners (those ranging from ages 18-34), this number jumps up to 95%. Yet, only 50% of small business owners have updated… Continue reading U.S. Small Business Owners Need More Cybersecurity Safeguards
How the Accused Capital One Hacker Stole Reams of Data from the Cloud
The woman who allegedly pulled off one of the largest-ever bank-data heists appeared to have exploited a vulnerability in the cloud that security experts have warned about for years. Paige A. Thompson, a former employee at Amazon.com Inc.’s cloud-computing unit who was arrested July 29, is accused of carrying out the massive theft of 106… Continue reading How the Accused Capital One Hacker Stole Reams of Data from the Cloud
Chubb Launches Specialized Coverage to Address Unique Exposures Impacting Professional Service Firms in the U.S.
In response to ever-evolving exposures requiring enterprise-wide solutions, Chubb has introduced Pro ERMSM to help professional service firms mitigate a range of unique exposures that can impact their businesses. This new offering combines Miscellaneous Professional Liability, Media Liability, Cyber Liability, and first-party Cyber coverages with extensive loss mitigation and incident response services, all in a… Continue reading Chubb Launches Specialized Coverage to Address Unique Exposures Impacting Professional Service Firms in the U.S.
IBM Study Shows Data Breach Costs on the Rise; Financial Impact Felt for Years
Security today announced the results of its annual study examining the financial impact of data breaches on organizations. According to the report, the cost of a data breach has risen 12% over the past 5 years1 and now costs $3.92 million on average. These rising expenses are representative of the multiyear financial impact of breaches,… Continue reading IBM Study Shows Data Breach Costs on the Rise; Financial Impact Felt for Years
Equifax to Pay at Least $650 Million in Largest Data-Breach Settlement Ever
The credit bureau Equifax will pay at least $650 million and potentially significantly more to end an array of state, federal and consumer claims over a 2017 data breach that exposed the sensitive information of more than 148 million people. The breach was one of the most potentially damaging in an ever-growing list of digital… Continue reading Equifax to Pay at Least $650 Million in Largest Data-Breach Settlement Ever
Premera Blue Cross Pays States $10M Over Data Breach
Premera Blue Cross is paying $10 million to 30 states following an investigation into a major data breach. Washington Attorney General Bob Ferguson announced the settlement Thursday, several weeks after the company said it would spend $74 million to settle a federal class-action lawsuit on behalf of affected customers. The states said the company knew… Continue reading Premera Blue Cross Pays States $10M Over Data Breach
More than One in 10 Firms Losing Over $10M Due to Cyberattacks
Annual losses from cyberattacks averaged $4.7 million in the last fiscal year — with more than one in 10 firms losing over $10 million —according to a new report from The Cybersecurity Imperative, a global thought leadership program produced by independent researcher ESI ThoughtLab in conjunction with Willis Towers Watson and other organizations specialized in… Continue reading More than One in 10 Firms Losing Over $10M Due to Cyberattacks