Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Home Depot Settles Data Breach Lawsuit for $19.5M
Mar 9 2016 // Home Depot Inc. agreed to pay at least $19.5 million to compensate U.S. consumers harmed by a 2014 data breach affecting more than 50 million cardholders. The home improvement retailer will set up a $13 million fund to...
Apple Ransomware Attack Thwarted Before Large Number of Computers Infected
Mar 9 2016 // The first known ransomware attack on Apple Inc.’s Mac computers, which was discovered over the weekend, was downloaded more than 6,000 times before the threat was contained, according to a developer whose product was...
Beazley Reports Industry Data Breaches Up 60% in 2015
Mar 8 2016 // A leading data breach response insurer says its breach response unit handled 60 percent more data breaches in 2015 than in 2014 in the U.S., with a concentration of incidents in the healthcare, financial services and...
Untested Cyber Coverage Remains ‘Volatile,’ Experts Say
Mar 4 2016 // With cyber insurance premiums expected to grow from around $2 billion in 2015 to an estimated $20 billion or more by 2025, insurers and reinsurers are continuing to work out underwriting requirements, and the market can be...
Chubb Offers ‘Cyber Enterprise Risk Management’ Solution for European Clients
Mar 3 2016 // Chubb announced the launch of Cyber Enterprise Risk Management, as the company continues to invest in its cyber risk capabilities across Europe. Cyber Enterprise Risk Management as “an end-to-end risk management...
5 Governments Write to China, Expressing Concern over New & Draft Laws
Mar 1 2016 // The United States, Canada, Germany, Japan and the European Union have written to China to express concern over three new or planned laws, including one on counterterrorism, in a rare joint bid to pressure Beijing into...
DUAL Commercial Launches New Online Cyber Program
Feb 29 2016 // DUAL Commercial, LLC has developed DUAL CyberSecurity, a new cyber program to be led by Phil Hoyt, director of Cyber Insurance. DUAL CyberSecurity provides coverage in conjunction with DUAL Commercial’s programs, as...
South Carolina Announces Initiative to Prevent, Fight Cybercrime
Feb 26 2016 // The South Carolina Revenue Department’s massive 2012 data breach gave Gov. Nikki Haley a firsthand lesson on the need for efforts to counter cybercrime, she said Wednesday. “Today, there is never a day I...
Israeli Cyber Security Business Foundry, Team8, on Track to Build 5 Firms by 2020
Feb 26 2016 // Team8, a cyber security business foundry created by veterans of the Israeli army’s technology and intelligence unit 8200, said it closed a $23 million round of financing. Team8 plans to use the money to develop five...
IronPro Enhances Cyber Policy Risk Management Services
Feb 24 2016 // IronPro, the professional liability unit of Ironshore Inc., is introducing a suite of enhanced risk management services for cyber policyholders. IronPro will provide eligible Ironshore Highly Protected Information (HPI)...
Investors Shunning Once-Hot Cybersecurity Startups
Feb 24 2016 // The U.S. cyber security industry, once one of the hottest targets for venture capitalists, is now grappling with a funding slump that has forced some startups to sell themselves or cut spending. Amid widespread concerns...
Credit Card Buyers, Sellers Making Out Like Bandits
Feb 23 2016 // Cyber thieves who steal credit and debit card numbers are making millions of dollars in profits, fueling a global criminal enterprise marked by the high-profile data breaches of major companies such as Target and Home...
RLI to Roll Out New Cyber Liability Unit, Coverage in Q3
Feb 19 2016 // RLI Insurance Company and its Executive Products Group have created a new business unit to offer cyber liability insurance. The Cyber Liability Insurance unit will offer protection for exposures arising from adverse cyber...
California: 49M Records Breached in 4 Years
Feb 17 2016 // More than 49 million personal information records of California residents were compromised in 657 data breaches from 2012 to 2015, state Attorney General Kamala Harris said in a report citing tips on how people and...
IDT911 Enhances Data Breach Services for Commercial Insureds
Feb 16 2016 // IDT911 has enhanced its DataRiskStages data breach mitigation and remediation service for insurance companies and their commercial policyholders. The DataRiskStages platform has been enriched with three new features:...
Marsh Appoints Lobban as Senior Adviser on Cyber Risk
Feb 11 2016 // Marsh has announced the appointment of Sir Iain Lobban as senior adviser on cyber risk. Lobban is the former director of the Government Communications Headquarters (GCHQ), the UK’s security and intelligence...
Obama Budget Calls for Increased Cybersecurity Funding, New High-Level Post
Feb 10 2016 // The Obama administration is creating a new high-level federal official to coordinate cybersecurity across civilian agencies and to work with military and intelligence counterparts, as part of its 2017 budget proposal...
Russian Hackers Moved Ruble-Dollar Rate at Regional Bank: Cyber-Security Firm
Feb 9 2016 // Hackers used malware to penetrate the defenses of a Russian regional bank and move the ruble-dollar rate more than 15 percent in minutes, according to a Moscow-based cyber-security firm hired to investigate the...
Russia Cracks Down on Financial Hacking Ring, Raiding Moscow Office: Sources
Feb 8 2016 // Russian authorities in November raided offices associated with a Moscow film distribution and production company as part of a crackdown on one of the world’s most notorious financial hacking operations, according to...
Ghost of 2008 Crash Still Haunts Real Estate E&O
Feb 8 2016 // The ghost of the 2008 financial collapse still haunts the liability insurance market for real estate professionals and some are worried the business may be headed for a replay of that crisis. While it is still recovering...
