Cyber Risk 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, …

Insurers in Dash for Expertise to Master Cyber Risk Insurance

Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market but their lack of experience and skills handling hackers and data breaches may keep their ambitions in check. High profile cases of hackers seizing sensitive customer data from …

Zurich Introduces Property Coverage for Cloud-Dependent Companies

Zurich North America has introduced new property coverage for cloud-dependent, middle-market companies. As the new property coverage enhancement for companies is not location specific, Zurich now offers insurance coverage for the cyber risks of cloud computing as well as business …

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: …

Experts Fear Major Attack Only Way to Stir Corporate Action on Cyber Security

After warning for years that the U.S. electric grid and other critical infrastructure are dangerously vulnerable to hacking, security experts fear it may take a major destructive attack to jolt CEOs out of their complacency. While awareness about cybersecurity has …

Security Expert Practices ‘Cyber-Hygiene’ to Guard Against ID Theft

You won’t find security expert Michael Chertoff doing silly everyday things like using public WiFi, logging in with the same password on every site he uses, clicking on dubious links or falling for a phishing scam. Chertoff, former secretary of …

Secret Service Agent Says Many Cyber Breaches Go Unreported

Many breaches in data security may be going unreported by American businesses. That’s according to Kirk Arthur, supervisory special agent for the U.S. Secret Service’s San Francisco field office. “Businesses simply don’t report it,” said Arthur, who was speaking in …

Advisen: Historians May See 2013 as ‘Cyber Tipping-Point’

Historians may look at the year 2013 as a “cyber tipping-point” — the point at which businesses and governments finally realized the severity of the threats they were facing, according to Advisen, a New York-based commercial insurance research and data …

Las Vegas Sun: Cyberattack Behind Website Outage

Officials at the Las Vegas Sun say a cyberattack crashed their website for several hours Tuesday morning. Donn Jersey, the publisher of the website and its sister sites, says the outage apparently started a little after 6 a.m., and was …

Travelers Launches Online Cyber Risk Resources for Business Owners

Travelers has introduced a suite of online resources to help business owners navigate the growing threat of cyber risks while also protecting their assets and their customers’ information. The launch of the new resources coincides with the start of National …