Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based …
A 2012 security breach that exposed the personal information of 780,000 Utah residents to hackers could cost as much as $406 million, a new study finds. The Salt Lake Tribune reported in the aftermath of the breach, the state already …
The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has launched HSB CyberOne, a new cyber risk insurance coverage for small businesses. The new product expands HSB’s suite of products and services designed to protect smaller …
Hollywood would have us believe that some smart, awkward computer guy in his 30s living in his mother’s basement is to blame. Surrounded by a dozen computer screens with an IQ of 150, this cyber character enjoys targeting large companies …
While more than half the U.S. small businesses experienced at least one data breach, just one-third of those firms notified individuals that their personal information had been compromised, a new survey revealed. “Smaller companies are targeted by data thieves, but …
There are many cyber insurance products available for purchase, and each is somewhat unique. Some products are more comprehensive than others. Some cyber insurance products are combined with insurance policies of another type; for example, technology errors and omissions liability …
A survey of perceptions about cyber risk sponsored by the American International Group Inc. (AIG) found that among corporate executives, more are concerned about cyber threats than about other major business risks. More than 85 percent of the 258 decision-makers …
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 …
Small businesses may not think they are at risk for cybercrime, but almost 72 percent of the 855 data breaches worldwide analyzed by Verizon’s forensic analysis unit were at companies with 100 employees or less*. However, a questionnaire by Travelers …
Business Risk Partners (BRP) is now offering E&O with built-in data breach/privacy coverage for tech service providers, including website designers and engineers, software developers, and emerging tech firms. Additionally, for small and middle market companies nationwide, BRP is offering stand-alone …
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