Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
California Leads Nation in SMB Cyber Insurance Adoption, Report Shows
Aug 6 2019 // California leads the nation in small to mid-size business cyber insurance adoption, according to a report released on Tuesday by CyberPolicy. The report shows the highest annual premium in the state totaled more than...
It’s Not Easy to Pin Identity Theft on a Specific Data Breach
Aug 6 2019 // Equifax 2017. Marriott 2018. Capital One 2019. Data breaches through hacking attacks are distressingly common these days, and personal details about you can lead to identity theft, such as credit cards and loans in your...
Delaware Insurance Data Security Act Signed into Law
Aug 6 2019 // Delaware Governor John Carney signed House Bill 174, titled the Delaware Insurance Data Security Act, into law on Wednesday, July 31, 2019. This law is based on an NAIC Model Act, which establishes a comprehensive...
After Cyberattack, Nebraska Schools Could Face High Costs
Aug 5 2019 // A cyberattack on a suburban Omaha, Nebraska, school district touched off an FBI investigation and is proving to be a significant, and perhaps costly, inconvenience. Papillion-La Vista Community Schools officials said the...
Nebraska Insurer, Ameritas: Data Breach Possibly Exposed Customers’ Info
Aug 1 2019 // Lincoln, Nebraska-based insurance and finance company Ameritas has notified customers that their personal information may have been exposed in a data breach. The Lincoln Journal Star reports that the company said in a...
Capital One Breach Clouds Technology Strategy; Puts $400M Cyber Insurance in Play
Aug 1 2019 // Capital One Financial Corp., in recent years, has beat the drum every chance it got: The cloud is cheaper. The cloud is faster. And the cloud is far more secure. Then a hacker got into the cloud, siphoning off sensitive...
Businesses Believe Cyber Insurance Covers More Than It Does: Survey
Jul 31 2019 // Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee,...
Capital One Investors Wary of Reputational Impact of Data Breach
Jul 31 2019 // Capital One Financial Corp.’s assurances that a major data breach would have a limited impact on customers or profit failed to convince investors on Tuesday, with the bank’s shares closing down 5.9%. Capital...
A Year after GDPR, How Can U.S. Insurers Prepare for Data Privacy Regs Closer to Home?
Jul 30 2019 // More than a year after the European Union implemented its General Data Protection Regulation (GDPR), U.S. insurers are examining what they can learn as they prepare for the implementation of similar data privacy laws in...
Willis Towers Watson, Lockton, Markel International Appoint New Cyber Chiefs
Jul 30 2019 // Willis Towers Watson, Lockton and Markel International each have appointed new cyber chiefs. Willis Towers Watson has appointed Peter Foster as chairman of Global FINEX Cyber and Cyber Risk Solutions. Foster has been with...
Viewpoint: What Insurance Industry Should Acknowledge About Small Business Cyber
Jul 30 2019 // The 2018 Verizon Data Breach Investigations Report cited that 58% of cyber-attack victims were small businesses, and the 2019 Symantec Internet Threat Report stated that employees working at small businesses were more...
The Evolution of Cyber Liability Exposure and Coverage
Jul 29 2019 // On July 25, Insurance Journal’s Academy of Insurance hosted a webinar by Joe Harrington, entitled The Evolution of Cyber Liability. Joe started the session in the early days of cyber liability when it was a fringe...
Capital One Reports Data Breach of 100 Million Accounts; Suspect Arrested
Jul 29 2019 // Capital One Financial Corp. said on Monday personal information including names, addresses, phone numbers and credit scores of about 100 million individuals in the United States and 6 million people in Canada were obtained...
CFC Underwriting Taps Francis from Aon/Stroz Friedberg as Cyber Claims Director
Jul 26 2019 // CFC Underwriting, the London-based managing general agent that specializes in emerging risks, announced the appointment of Roger Francis as Cyber Claims director. Francis will lead CFC’s cyber claims and incident...
Group of German Companies – Including BASF, Siemens, Roche – Hit by Cyber Attacks
Jul 24 2019 // German blue-chip companies BASF, Siemens, Henkel along with a host of others said on Wednesday they had been victims of cyber attacks, confirming a German media report which said the likely culprit was a state-backed...
Cost of Norsk Hydro Cyber Attack Higher than Expected at Nearly $75 Million
Jul 24 2019 // Aluminum producer Norsk Hydro has managed to ramp up operations at its Alunorte refinery in Brazil despite a cyber attack in March, the firm said on Tuesday, boosting its shares. The Norwegian company’s stock rose as...
Largest U.S. Data Breach Settlements with Government Include 3 Insurers
Jul 23 2019 // The U.S. Federal Trade Commission announced on Monday that Equifax Inc. will pay up to $700 million for a data breach that exposed millions of consumers’ personal information. The following are seven of the largest...
Equifax’s $700 Million Data Breach Settlement Criticized
Jul 23 2019 // Credit-reporting company Equifax Inc will pay up to $700 million to settle claims it broke the law during a massive 2017 data breach and to repay harmed consumers, in a landmark settlement that was nonetheless criticized...
Equifax’s $700 Million Data Breach Settlement Includes $300 Million for Consumers
Jul 22 2019 // Credit-reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday. The largest-ever settlement for...
Liberty Specialty Forms Cyber Centre of Excellence; Rigby Named Chief Cyber Officer
Jul 22 2019 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Jon Rigby to the newly created role of chief cyber officer. He will report to Peter Smith, executive underwriting officer. Rigby will...
