Cyber Risk News

Marriott Reports Data Breach Affecting 5.2 Million Hotel Guests

Marriott International Inc. said on Tuesday information of about 5.2 million hotel guests was breached, the second such incident for the hotel operator in less than two years. It said the breached information, including contact details, loyalty account information and …

Insurance Journal’s Top 10 Cyber Risk Stories of 2019

Cyber risks were cited as the top concern among businesses of all sizes in 2019, according to a Travelers report released in October. Of the 1,200 business leaders who participated in an insurer-sponsored survey, 55% said they worry some or …

Behind the Foggy Curtain: A Peek Into Secret U.S. Cybersecurity Operation

The National Security Agency is normally so secretive that its creation was classified, leading to the nickname “No Such Agency.” But in a move that surely caused hand-wringing and murmurs among the nation’s longtime spies, the agency opened its doors …

Insurers, Tech Firms Scramble to Keep Up With Cyber Risks

Despite progress, carriers are still falling short in how they approach cyber insurance and also how they cover events when they happen. How can this be? The unique makeup of cyber risks continues to hold them back, according to experts …

Cyber Risks Are Jeopardizing M&A Deals

Cybersecurity issues are increasingly becoming a concern in mergers and acquisitions, a new survey shows, and lapses can jeopardize deals or haunt purchasers long after the deal is done. Of more than 2,700 information technology and business decision makers surveyed …

British Hacker Gets 4 Years in Jail for TalkTalk Data Breach

A British man who hacked TalkTalk Telecom Group Plc, blackmailed executives and offered to supply customer data has been jailed for four years. Daniel Kelley, 22, was sentenced after pleading guilty to 11 charges of hacking and blackmailing TalkTalk, London …

Warning: Cyber Will Soon Cost Insurers More Than Natural Disasters

Cyber risks will soon become bigger risks than natural catastrophes for the insurance sector, Scor Chairman and Chief Executive Officer Denis Kessler said, recommending the industry build a comprehensive, common global scale to assess cyber-related incidents. “I dream of a …

MGA Coalition Covers Firms with Cyber Exposure Under EU’s Data Privacy Law

Coalition, the San Francisco-based managing general agency that specializes in cyber insurance for small and mid-sized businesses, announced it is broadening coverage to include exposures to violations of the European Union’s General Data Protection Regulation (GDPR). Unlike other cyber insurance …

Cyber Business Interruption Risks Still Difficult to Figure

Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the growing area of non-physical threats? This question was raised among panelists at the 2018 PLUS Cyber Symposium, held …

Report Says Record Number of Data Breach Notices Filed in New York in 2017

The New York Attorney General’s Office (NYAG) this year released a report outlining a record number of data breach notices filed with the office in 2017 – the highest since NYAG started receiving data breach notices in 2006. In the …