Few companies are telling securities regulators about cyberattacks, a new analysis finds, despite recent efforts to bolster disclosures of such incidents to investors. About 90% of known cyber incidents at public companies went undisclosed in regulatory filings in 2018, according to an analysis by the office of Securities and Exchange Commission member Robert Jackson, a… Continue reading Many Company Hacks Go Undisclosed to SEC Despite Regulator Efforts
Tag: cyber liability
Arceo.ai Launches to Bridge the Cybersecurity Insurance Gap
Arceo.ai, the industry-first provider of cyber resilience solutions, today emerged from stealth with the debut of a unique platform that enables insurance carriers to automate and enhance their cyber insurance solutions, while increasing the security of their insureds. Cyber resilience is the combination of risk mitigation and accelerated recovery to reduce the total impact of… Continue reading Arceo.ai Launches to Bridge the Cybersecurity Insurance Gap
AmWINS Announces New Social Engineering Crime Insurance Solution
AmWINS Group, Inc., a global distributor of specialty insurance products and services, has launched a new solution designed to protect insureds against social engineering losses while also providing education and risk mitigation services. Losses covered under the solution can include those arising from situations where insureds are fraudulently induced into transferring money or securities in… Continue reading AmWINS Announces New Social Engineering Crime Insurance Solution
Zurich Faces $100M Lawsuit Over Unpaid NotPetya Claim
U,S. food giant Mondelez is suing Zurich for $100 million after its claim for damage caused by the massive NotPetya ransomware attack was rejected. According to court documents filed by Mondelez – the owner of chocolate brands Cadbury and Oreo – Zurich initially looked to settle the claim and promised the food giant a $10… Continue reading Zurich Faces $100M Lawsuit Over Unpaid NotPetya Claim
U.S. Initiative Warns Firms of Hacking by China, Other Countries
The Trump administration on Monday launched a drive to push U.S. firms to better protect their trade secrets from foreign hackers, following a slew of cases accusing individuals and companies of economic espionage for China. U.S. companies hit by recent attacks included Hewlett Packard Enterprise Co and International Business Machines Corp The National Counter-Intelligence and… Continue reading U.S. Initiative Warns Firms of Hacking by China, Other Countries
Malware Attack Hits Production of Several Major U.S. Newspapers
A cyberattack hobbled computer systems used to produce major newspapers across the U.S. on Saturday, causing glitches that slowed publication and distribution. The attack affected Tribune Publishing Co., which owns the Chicago Tribune, the Baltimore Sun, the New York Daily News and the Sun-Sentinel in South Florida, among others. The Los Angeles Times and San… Continue reading Malware Attack Hits Production of Several Major U.S. Newspapers
NSA Cyber Chief Says Companies Are Losing Ground to Protect their Data
Are we winning the war to protect data? Not according to Rob Joyce, the National Security Agency’s senior adviser on cybersecurity strategy. Corporate leaders face increasing challenges in safeguarding their online systems and data, he said. “The trend is going the wrong way,” Mr. Joyce told security experts and other enterprise information-technology officials Tuesday at… Continue reading NSA Cyber Chief Says Companies Are Losing Ground to Protect their Data
Marriott’s $13.6 Billion Starwood Deal Bought Security Risk
Marriott International’s $13.6 billion purchase of Starwood Hotel & Resorts was a bet that its popular loyalty program would bring more travelers to its Courtyards and Residence Inns. It turns out Marriott was also buying a massive security risk. A cyber breach in Starwood’s reservation system had allowed unauthorized access since 2014, the company said… Continue reading Marriott’s $13.6 Billion Starwood Deal Bought Security Risk
Cyber and Data Loss Overtake Regulatory Concerns as Top Priority Facing Senior Managers
Willis Towers Watson), in conjunction with Allen & Overy, has today launched its sixth annual Directors’ liability report – “D&O: Personal Exposure to Global Risk” which outlines the changing risk culture affecting senior management. According to the survey, cyber-attack and data loss/breach top the list of risks which are causing directors most concern. These risks… Continue reading Cyber and Data Loss Overtake Regulatory Concerns as Top Priority Facing Senior Managers
FDA to Overhaul Long-Criticized Medical Device System
U.S. health officials said Monday they plan to overhaul the nation’s decades-old system for approving most medical devices, which has long been criticized by experts for failing to catch problems with risky implants and medical instruments. The Food and Drug Administration announced plans aimed at making sure new medical devices reflect up-to-date safety and effectiveness… Continue reading FDA to Overhaul Long-Criticized Medical Device System