cyber crime News

Computers at Growing Risk of Hijack by Botnet Viruses, U.S. Says

The threat posed by criminal hackers who use networks of secretly hijacked computers has increased “dramatically” over the past several years, a top U.S. Justice Department prosecutor testified Tuesday. Leslie Caldwell, the assistant attorney general for the department’s criminal division, …

In Search of the Best Defense Against Corporate Cyber Crime

With hackers stealing tens of millions of customer details in recent months, firms across the globe are ratcheting up IT security and nervously wondering which of them is next. The reality, cyber security experts say, is that however much they …

P/C Insurers Must Manage Emerging Risks Including the Next Big One

Learning how to manage increasingly complex and evolving risks is essential if property/casualty insurers are to serve the needs of their customers in a changing world. According to analysts and industry executives at Standard & Poor’s Ratings Services’ Insurance 2014: …

Endurance Insurance Enhances Network Security, Privacy Coverage

Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has enhanced its Endurance Premier Professional product with Endurance Breach Assist, a network security and privacy offering. Endurance Breach Assist provides insureds with comprehensive coverage …

Hiscox Adds Cyber Crime Protection for Small, Medium-Sized Businesses

Hiscox, the international specialist insurer, has added a new cyber crime protection endorsement to its technology privacy cyber portfolio. The cyber crime coverage option provides additional protection against growing exposures related to cyber crime connected to business bank accounts. “Technology …

Hawaii Cyber Range Launches Anti-Hacking Training

The state of Hawaii has launched a center to train people to defend computer systems from attack. The so-called “cyber range” is a collection of servers and routers in a room on the University of Hawaii’s Manoa campus. The equipment …

Beazley Launches Enhanced Computer Crime Policy

Beazley plc has launched new computer crime and account takeover coverages for financial institutions. The enhanced computer crime policy is designed for the continually evolving services and applications that financial institutions are offering their clients. It also addresses the constantly …

Munich Re Study Focuses on Rising ‘Cyber Crime’

“Cyber attacks are a reality and companies need to prepare themselves,” warns Munich Re in a recently released study – “Cost of Cyber Crime” – conducted by the Ponemon Institute. “Advancements in the IT sector are opening up new applications, …

Hacker Group Not So Anonymous Anymore

The computer hackers, chat room denizens and young people who comprise the loosely affiliated Internet collective known as Anonymous have increasingly turned to questionable tactics, drawing the attention of the FBI, the Department of Homeland Security and other federal investigators. …

Lloyd’s Highlights Potential Impact from Cyber Crime, Data Loss

Cyber crime has become a high profile problem for risk managers, heightened as a result of the recent attacks by hackers on Sony. In an article on its web site Lloyd’s notes that risk manager are increasingly concerned “over the …