cyber News

Jan. 1 Renewals Saw ‘Muted Impact’ from 2018’s Catastrophes: Guy Carpenter

The overall impact of catastrophe losses on property rates was muted at the Jan. 1, 2019 reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of …

California Could Require Businesses to Offer E-Receipts Under New Bill

California would become the first state to require businesses to offer electronic receipts unless customers ask for paper copies under legislation proposed this week. Many businesses and consumers already are moving toward e-receipts, said Democratic Assemblyman Phil Ting of San …

Los Angeles Sues Weather Channel App, Alleging It Sold User Data

The operator of The Weather Channel mobile app tracks the whereabouts of users and sells their data to third parties, Los Angeles prosecutors said as they sued to stop the practice. The company misled users of the popular app to …

BevMo in California Warns of Customer Credit Card Data Breach

BevMo is warning that a data breach may have allowed a hacker to steal credit card numbers and other information from more than 14,000 customers who used the alcohol-seller’s website. The Concord, Calif.-based company has notified the California attorney general’s …

Colorado Agency Targeted in Massive Ransomware Scheme

No money was paid and no information was lost during a ransomware cyberattack that exploited a cloud-based vulnerability in the Colorado Department of Transportation’s computer network last spring, officials said. CDOT was one of several government agencies across the country …

Cyber Expert Says Industry Over-Complicates Cyber Insurance

Cyber insurance is relevant to every type of business but the insurance industry needs to make it simpler so that more businesses understand why they should buy it, according to Graeme Newman, chief innovation officer at CFC Underwriting, a cyber …

PLUS Experts: One of the Biggest Gaps in Cyber is Explaining it to Customers

What’s one of the biggest gaps in cyber? Good communication between the insurance industry and customers, who are in need of more than just products to help protect them from risks in the rapidly changing digital world. That was the …

North Korean Hackers Tried to Steal $1.1B over 4-Year Period: FireEye Report

A North Korean hacking group focused on financial gain for the rogue state has penetrated banks around the world with a series of ongoing attacks, and has tried to steal at least $1.1 billion over the last four years, according …

UK’s Tesco Bank Slapped with $21.4M Fine for ‘Foreseeable’ Cyber Attack in 2016

Britain’s markets watchdog has fined Tesco 16.4 million pounds ($21.4 million) for failing to protect account holders at its bank from a “foreseeable” cyber attack two years ago. The Financial Conduct Authority said that in November 2016 cyber attackers exploited …

Five Key Takeaways from California’s Watershed Privacy Law

California recently enacted a sweeping new privacy law, the California Consumer Privacy Act of 2018, which is likely to have broad implications for organizations providing services to, or collecting data from, California consumers. The CCPA, enacted on June 28, shares …