The insurance industry faces a complex cybersecurity landscape, balancing strong security scores with significant vulnerabilities. This blog will explore the key findings from SecurityScorecard’s recent report, A Cybersecurity Assessment of the Insurance Industry Supply Chain.
Tag: cybersecurity
New Cybersecurity Initiative Offers Free Support to Vulnerable Organizations
The threat landscape for cybersecurity continues to intensify, with organizations across sectors facing escalating risks. In Q3 of 2024, cyberattacks surged by 75% compared to the same period in 2023, according to Check Point Research.
New York State Fines Geico and Travelers $11.3 Million for Data Breaches
New York State has fined auto insurers Geico and Travelers Indemnity a combined $11.3 million for cybersecurity lapses that exposed sensitive customer data.
New Minnesota Law Mandates Cyberattack Reporting by Public Agencies
Minnesota has enacted a new law requiring public agencies and their contractors to report cybersecurity incidents to state IT officials. This measure aims to enhance the state’s preparedness and response to growing cyber threats.
Boosting Cyber Resilience for Rural Water Utilities
The U.S. Department of Agriculture (USDA) and the White House Office of the National Cyber Director (ONCD) have launched a yearlong initiative to strengthen the cybersecurity of rural water utilities, a critical yet often under-resourced sector.
Cybersecurity Gaps Could Be Costing Businesses More in Insurance Claims, Says Gallagher Re Study
In a recent study, Gallagher Re, a leading global reinsurance broker, uncovered a crucial link between cybersecurity weaknesses and higher insurance claims.
Zurich and Marsh McLennan Sound Alarm on Cybersecurity Gaps
In a joint whitepaper, Closing the Cyber Risk Protection Gap, Zurich Insurance Group and Marsh McLennan highlight the growing divide between increasing cyber threats and the current ability of both businesses and insurers to mitigate them.
Navigating the Risks of AI-Enhanced Phishing Attacks
Generative AI is revolutionizing many industries, including insurance. However, it also introduces new risks, particularly in the realm of cybersecurity.
U.S. Imposes Sanctions on Russia’s AO Kaspersky Lab Executives Over Cyber Risks
The Biden administration slapped sanctions on 12 people in senior leadership roles at AO Kaspersky Lab on Friday, citing cybersecurity risks a day after it announced plans to bar the sale of the Russian company’s antivirus software.
70% of Firms Faced BEC Attacks in 2023: Arctic Wolf
Business email compromise now ranks as a top attack method, with 70% of organizations saying they’ve faced a BEC attempt in the last year and 29% actually falling victim to at least one attack, according to a new report from Arctic Wolf.