cyber crime News

Ohio Group Unveils Plan to Deal With Cyberattacks

A group of politicians, law enforcement members and business leaders has given its blueprint for how Ohio communities can deal with cyberattacks to the state Emergency Management Agency. The Columbus Dispatch reported the Cybersecurity Work Group unveiled its report on …

Man Who Hacked Farmers Insurance, Government Sentenced in California

A hacker who helped break into the computer systems of DirecTV, Farmers Insurance and the Los Angeles Department of Public Works is going to federal prison. Mario Chuisano was given a three-year sentence last week and ordered to pay nearly $2.7 …

Insurance Doesn’t Tackle Underlying Problem of Cyber Crime: Bloomberg View

Companies are finding a way to minimize the repercussions when their digital security is violated. Unfortunately, they’re turning to the same safeguards that protect the guitar-strumming hands of Keith Richards, the goal-scoring limbs of David Beckham and the most remarkable …

Allianz Survey: Businesses Face New Challenges in Interconnected World

Business interruption (BI) and supply chain, natural catastrophes and fire/explosion are the major risks that occupy the attention of companies at the start of 2015, according to the fourth annual “Allianz Risk Barometer 2015.” The Risk Barometer details the top 10 global …

U.S. Cyber Crime Unit to Focus on Prevention

The U.S. Justice Department is creating a unit within the criminal division to advise on electronic surveillance in cyber investigations and work with the private sector to prevent online crime, an official said recently. The new unit, housed within the …

Allianz Launches Cyber Crime Coverage for Canadian Companies

Industrial insurance specialist Allianz Global Corporate & Specialty (AGCS) has launched Allianz Cyber Protect in Canada, a suite of coverages with capacity to protect a company in the event of a data loss or a cyber-security incident. Allianz Cyber Protect includes …

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 …