Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
What Comes Next in Facebook’s Major Data Breach
Oct 2 2018 // For users, Facebook’s revelation of a data breach that gave attackers access to 50 million accounts raises an important question: What happens next? For the owners of the affected accounts, and of another 40 million...
UK’s Tesco Bank Slapped with $21.4M Fine for ‘Foreseeable’ Cyber Attack in 2016
Oct 1 2018 // Britain’s markets watchdog has fined Tesco 16.4 million pounds ($21.4 million) for failing to protect account holders at its bank from a “foreseeable” cyber attack two years ago. The Financial Conduct...
Guy Carpenter Taps O’Brien from Marsh as Head of Cyber Centre of Excellence
Oct 1 2018 // Guy Carpenter & Co. announced the appointment of Siobhan O’Brien as head of the Cyber Centre of Excellence for International and Global Specialties, with effect from Oct. 1. Based in London, O’Brien will...
Firms Using Connected Devices Not Worried About Increased Cyber Risk: Survey
Oct 1 2018 // Business that use artificial intelligence, drones, robotics, wearable sensors or other connective technologies can increase their chance of being a cyber attack victim because these technologies give cyber criminals new...
Travelers Risk Index: Businesses Believe a Cyber Attack is Inevitable
Oct 1 2018 // Cyber risks are the No. 2 concern across all business sizes and industries, and the percentage of businesses reporting they have been the victim of a cyber attack has doubled, according to a new industry report by...
50 Million Facebook Accounts Exposed to Takeover in Huge Breach
Sep 30 2018 // Facebook Inc. said on Friday that hackers stole digital login codes allowing them to take over nearly 50 million user accounts in its worst security breach ever given the unprecedented level of potential access, adding to...
New Munich Re Cyber Reinsurance Product Designed for Small, Mid-Sized Businesses
Sep 28 2018 // Munich Reinsurance America, Inc. (Munich Re) has launched a cyber reinsurance product for regional property/casualty insurance carriers seeking to provide this coverage and associated services to their small and...
Uber Settles with States for $148M Over Failure to Disclose Data Breach
Sep 27 2018 // Uber Technologies Inc. will pay $148 million for failing to disclose a massive data breach in 2016, marking a costly resolution to one of the biggest embarrassments and legal tangles the ride-hailing company has...
AXIS Specialty UK Offers GCHQ-Certified Training at Cyber Center of Excellence
Sep 27 2018 // AXIS Specialty UK Holdings Ltd. announced it has been certified as a GCHQ Certified Training provider for its course “Understanding Cybersecurity and Insurance.” The training is offered through the AXIS Cyber...
New Paladin Cyber Product for Small, Mid-Sized Businesses Launches in Arizona
Sep 25 2018 // Paladin Cyber, a cyber protection and remediation firm, has developed a cyber insurance product tailored for small and mid-sized businesses. Along with its existing software products and services, the new product will...
The State of NAIC’s Data Security Model Law
Sep 21 2018 // Powered by InsuranceJournal.tv Most states have yet to adopt a cyber security model law for the insurance industry like the one approved by the National Association of Insurance Commissioners in 2017, but one expert...
Equifax Slapped with $658,000 Fine for Privacy Lapses After UK Cyber Attack
Sep 20 2018 // Credit reporting company Equifax Inc. was slapped with a maximum 500,000 pound ($658,000) fine by the U.K.’s privacy watchdog for failing to protect the personal information of as many as 15 million British citizens...
Banks and Insurers Have Improved Their Cyber Defenses
Sep 20 2018 // Despite the volume of cyberattacks doubling in 2017, banks and insurance firm firms are closing the gap on cyber attacks, having stopped four in five of all breach attempts last year. According to a study by Accenture,...
People
Sep 17 2018 // Paula Downey, president and CEO of CSAA Insurance Group in California since 2010, will retire following a search for her successor. Downey recently led the AAA insurer through a six-year infrastructure transformation. She...
Survey Finds Cyber Crimes Cost German Businesses $50 Billion
Sep 14 2018 // Two thirds of Germany’s manufacturers have been hit by cyber-crime attacks, costing industry in Europe’s largest economy some 43 billion euros ($50 billion), according to a survey published by Germany’s...
Everest Insurance Adds 3 Members to Cyber Practice
Sep 12 2018 // Everest Insurance has expanded its Everest Specialty Underwriters (ESU) Financial Lines group with the addition of three cyber liability team members. This team, led by Vice President and Cyber Practice Leader Kevin...
Verisk Company PCS Adds Global Cyber Industry Loss Index
Sep 11 2018 // Property Claim Services (PCS), a Verisk business, has enhanced its PCS Global Cyber service with coverage for cyber catastrophe events. The inclusion of events with multiple insureds spanning both affirmative and silent...
British Airways Says ‘Sophisicated’ Hacker Stole Data on 380,000 Customers
Sep 10 2018 // British Airways apologized on Friday after the credit card details of hundreds of thousands of its customers were stolen over a two-week period in the most serious attack on its website and app. The airline discovered on...
South Carolina to Hold Info Session on New Insurance Data Security Law
Sep 7 2018 // The South Carolina Department of Insurance will hold an information session Monday, Sept. 10, on the South Carolina Insurance Data Security Act for state insurance licensees. According to a media release, it will address...
U.S. Charges North Korean Hacker for WannaCry and Sony Cyber Attacks
Sep 7 2018 // The U.S. government on Thursday charged and sanctioned a North Korean man in the 2017 global WannaCry ransomware cyberattack and the 2014 cyber assault on Sony Corp , U.S. officials said. The charges, part of a strategy by...
