Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
U.S. Says Russia Behind Years of ‘Multi-Stage’ Cyber Attacks on Energy Grid
Mar 16 2018 // The Trump administration on Thursday blamed the Russian government for a campaign of cyber attacks stretching back at least two years that targeted the U.S. power grid, marking the first time the United States has publicly...
Flaws in AMD Chips Make Them Vulnerable to Hacks: Israeli Cyber Security Firm
Mar 14 2018 // An Israeli cyber security research firm with six employees on Tuesday said it had found flaws in Advanced Micro Devices microprocessors that made them vulnerable to hacks. AMD said it was investigating the claims, which...
What Cyber Insurance Industry Learned from 2017 Hacks
Mar 13 2018 // The NotPetya, WannaCry and Equifax hacks of last year were evidence that the U.S. insurance industry has been ill-prepared to handle a large cyber attack and needs to up its game. However, as a consequence of the attacks...
Yahoo to Face Lawsuit Over Breach of 3 Billion Users’ Data
Mar 13 2018 // Yahoo has been ordered by a federal judge to face much of a lawsuit in the United States claiming that the personal information of all 3 billion users was compromised in a series of data breaches. In a decision on Friday...
SEC Sides with New York Comptroller in Express Scripts Cyber-Risk Spat
Mar 12 2018 // New York State Comptroller Thomas DiNapoli scored a victory against Express Scripts Holding Co. in his push to force increased disclosures of the firm’s efforts to mitigate cyber risks. The prescription-benefits...
Shepherd Joins Ohio’s Great American Insurance as Sr. VP, Cyber Liability
Mar 9 2018 // Cincinnati, Ohio-based Great American Insurance Group has hired Betty Shepherd as divisional senior vice president of Cyber Liability. She will oversee the company’s cyber initiatives and existing cyber underwriting...
Number, Complexity of Cyber Attacks Rising: Dutch Intelligence Agency
Mar 9 2018 // Attempts at digital espionage and online political manipulation in Europe are on the rise both in number and in complexity, the Netherlands’ main intelligence agency said Tuesday [March 6] in its annual...
Coincheck Will Start Compensating 260,000 Victims of $500M Cryptocurrency Heist
Mar 9 2018 // Coincheck Inc. said it will start compensating users who had their cryptocurrency stolen beginning as soon as next week, as the Japanese exchange seeks to resume more of its operations. All of the 260,000 users impacted by...
Commercial Cyber Liability Market to Reach $6.2B in Written Premium by 2020: Verisk
Mar 8 2018 // The total commercial cyber liability market will reach $6.2 billion in written premium by 2020 after annual growth rates of 20-30 percent, Verisk predicts in a market analysis. “Cyber liability risk is rapidly...
Barbican Strengthens Cyber Cover with Incident Response, Phishing Exercises
Mar 8 2018 // Barbican Insurance Group announced it has further strengthened its cyber insurance cover by providing incident response exercises and phishing simulation as part of the overall package. The guidance will be delivered by...
Uber Sued in Pennsylvania After Data Stolen by Hackers Covered Up
Mar 7 2018 // The ride-hailing company Uber broke Pennsylvania law when it failed to notify potential victims, including thousands of drivers, for a year after it discovered hackers had stolen their personal information, said the state...
WEF Helps Create Fintech Cyber Security Consortium; Members Include Zurich, Citigroup
Mar 7 2018 // The World Economic Forum has led the creation of an industry consortium focused on improving the cyber security of financial technology companies, as collaboration between fintechs and financial institutions grows. The...
SMEs Need to Ready for Cyber Battle: Endeavour’s Loizides
Mar 7 2018 // A classic mistake made by many small and medium sized enterprises is to assume that they are immune from cyber attacks because hackers and fraudsters have bigger fish to fry. As a result, SMEs can be under-prepared in the...
How Cyber FICO Ratings Could Benefit Insurance Underwriting
Mar 7 2018 // Nearly 30 years ago the Fair Isaac Corp. (FICO) first introduced its metric for measuring creditworthiness. Since then, the FICO Score has become a default metric used by countless market participants to facilitate...
Y-Risk Approved as Lloyd’s Coverholder for Cyber, Technology E&O Product
Mar 7 2018 // Y-Risk, LLC, a specialty underwriting management company, has been approved as a Lloyd’s coverholder with authority for cyber and technology E&O insurance on behalf of certain Lloyd’s syndicates. Y-Risk is...
SEC Updates Guidance on Cyber Disclosure by Companies
Mar 5 2018 // The U.S. Securities and Exchange Commission updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by...
SMEs Underestimate Cyber Risks Which Could Prove ‘Fatal’: Allianz Report
Mar 5 2018 // Small- and medium-sized enterprises are waking up to the realities of cyber risks but still underestimate their exposures, according to a report published by Allianz Global Corporate & Specialty (AGCS). For...
Equifax Breach Could be Costliest Yet at $439M; Insurance to Cover $125M
Mar 4 2018 // Equifax Inc. said it expects costs related to its massive 2017 data breach to surge by $275 million this year, suggesting the incident at the credit reporting bureau could turn out to be the most costly hack in corporate...
German Government Marshals Defenses Against Powerful Cyber Attack
Mar 2 2018 // Germany’s government was marshaling its defenses on Thursday against a powerful cyber attack that lawmakers said had breached the foreign ministry’s computer network and whose origins officials admitted were...
Agent and Carrier Strategies and the Future of Cyber Insurance
Mar 2 2018 // More than 20 years ago, Steven Haase wrote the first cyber insurance policy. Haase told Insurance Journal the story of how that first policy came about in the first part of this report, What Agent Who Wrote First Cyber...
