cyber security News

Markets/Coverages: Coalition, MS&AD Insurance Offer Cybersecurity Solutions in Japan

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced a strategic partnership with Japan’s MS&AD Insurance Group to provide cybersecurity monitoring solutions for small and medium-sized businesses (SMBs). MS&AD Insurance Group, the largest non-life insurer in Japan …

Small Businesses Underestimate Cyber Risks Despite Increased Threats: IBC Survey

Most small businesses don’t believe they will experience a cyber attack, yet many employees are concerned they are putting their organizations at risk, according to a recent poll by Insurance Bureau of Canada (IBC). IBC’s 2023 Cyber Security Survey found …

Israeli Cyber Firm Cato Networks Raises $238M, Valued at $3B

Israeli cybersecurity firm Cato Networks said on Tuesday it had raised $238 million in a private funding round that valued the company at $3 billion. The round, one of Israel’s largest this year and Cato’s biggest, was led by LightSpeed …

Viewpoint: IT Asset Disposition Is Growing Cyber Security Threat for All Organizations

Cyber risk headlines are dominated by rising ransomware activity and soaring global data breach costs. The increased ransomware activity, driven largely by threat actor financial motives, has indiscriminately affected all industry segments – from large corporate clients to small to …

Insurer Mapfre Faces Class Actions Over Data Breach

Two proposed class actions have been filed in federal court in Massachusetts against Mapfre U.S.A. Corp. and its affiliate Commerce Insurance Co. over a recent data breach that one of the lawsuits contends may have exposed customer data for more …

China’s Huawei Files Lawsuit in Portugal Over Ban on Supplying 5G Equipment

Chinese technology giant Huawei has filed a lawsuit with a Lisbon court against a resolution by Portugal’s cybersecurity council CSSC that effectively bars operators from using its equipment in high-speed 5G mobile networks, the company said. The CSSC is the …

UK’s Voter Register Was Hacked. No One Noticed for 15 Months.

Hackers were able to access UK voter registers undetected for 15 months, the Electoral Commission said, raising questions about data security even as it played down fears about the impact on elections. “Hostile actors” could obtain the name and address …

Rutgers, Stony Brook Among Colleges Warning of Data Exposure From MOVEit Hack

The ongoing cyberattack exploiting MOVEit file-transfer software has taken a toll on US colleges and universities. At least 30 institutions have been notified that personal information of students and employees may have been exposed through vendors — including the Teachers …

Markets/Coverages: Coalition Launches Active Cyber Insurance in Quebec

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced its cyber insurance and technology errors and omissions (E&O) insurance offerings are now available in Quebec. Brokers can receive highly streamlined quotes for small businesses to large enterprises, …

ECB Cyber Stress Test Won’t Deliver Direct Capital Hit to Banks

The European Central Bank’s cybersecurity stress test next year won’t have a direct impact on capital requirements, limiting the exercise’s potential repercussions for investor payouts. The test will be a learning experience for lenders and the supervisor, ECB officials said …