3 Types of Employees that Expose Organizations to Cyber Risk

Posted by Jon Edwards on Jun 6, 2017 11:12:23 AM

When most businesses think cyber crime, they imagine brute force threats from foreign agents or highly advanced hacker teams. Executives tend to think that external forces well beyond their control make up the vast majority of security loopholes.

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Topics: Cyber Breach, Cyber Risk, Cyber Risk Mitigation, Cyber Security, Phishing Scam

Newark, NJ City Computers Struck By Ransomware Attack

Posted by Jon Edwards on Apr 25, 2017 2:06:29 PM

 

Multiple sources reported yesterday that hackers encrypted files on computers belonging to the city of Newark and have demanded $30,000 worth of Bitcoin to restore them.

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Topics: Cyber Breach, Cyber Insurance, Cyber Security, Ransomware, cyber attacks

6 Strategies to Mitigate Cyber Risk in the Healthcare Sector

Posted by Jon Edwards on Apr 18, 2017 1:48:19 PM

 

The healthcare sector is without a doubt one of the most targeted industries for cyber hackers. Different industries have different types and degrees of cyber risk exposure. But hackers and malicious campaigns take aim at the healthcare sector in particular due to the private nature and black market value of the data.

 

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Topics: Cyber Breach, Cyber Liability, Cyber Risk, Healthcare, Healthcare Data Breach, Healthcare Risk Management, cyber attacks

4 Ways to Evaluate and Mitigate Your Company's Cyber Risk

Posted by Jon Edwards on Mar 28, 2017 9:53:44 AM

Globalization and dependence on the internet for data storage over the past decade has exposed companies to a whole new set of risks. As this trend continues, so too does the risk associated with breaches of domestic or international servers. Massive data breaches happen with alarming frequency. In the past few years, there have been several high profile attacks

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Topics: Cyber Breach, Cyber Insurance, Cyber Liability, Cyber Risk, Cyber Risk Mitigation, cyber attacks

How to Respond to a Cyber Attack: 7 Crucial Steps

Posted by Jon Edwards on Feb 28, 2017 4:29:04 PM

 

In 2015 The Internet Crime Complaint Center received 288,012 complaints of cyber attacks totaling more than $1.07 billion in reported losses. Those numbers are based only on incidents that were reported to the FBI. When we talk about cyber risk, data theft, and the threat of Ransomware, we usually focus on prevention strategies. But being prepared to respond quickly and efficiently when an event does occur is just as important to operations recovery, cost reduction, and reputation management.

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Topics: Cyber Breach, Cyber Insurance, Cyber Liability, Cyber Risk, Cyber Security, cyber attacks

Four Ways to Protect Your Employees’ W-2 Information from Cyber Thieves

Posted by Jon Edwards on Feb 7, 2017 4:17:25 PM

Most companies today opt to distribute their employees’ W-2 tax forms electronically; either through email or some type of download service. Because these forms contain a good deal of Personally Identifiable Information (“PII”), such as name, address, social security number and salary information – cyber thieves are using several simple, yet, tried-and-true methods to fraudulently obtain them.

 

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Topics: Breach of Security, Cyber Breach, Cyber Insurance, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Ransomware, Risk management, Risk Management Blog

Reviewing Cyber Breach Insurance Coverage | First-Party Costs

Posted by Jon Edwards on Jan 31, 2017 6:02:18 PM

Organizations today must regard cyber breaches not as a possibility, but as an inevitable fact of life. In this environment, it’s crucial to have a cyber liability insurance policy that adequately covers the potential loss and offers payment or reimbursement for response costs. Understanding what’s covered by the policy well before a breach occurs and building that knowledge into your company’s incident response plan is critical.

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Topics: Breach of Security, Cyber Breach, Cyber Insurance, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Risk Management Blog

2017’s Latest Cyber Security Threat: The Ransomware Bluff

Posted by Jon Edwards on Jan 24, 2017 6:14:09 PM

2016 was a big year for ransomware. It saw a massive increase in ransomware events and payouts to criminals, which, most experts say, only exacerbates the issue.

 

A 2015 report by the Herjavec Group (an Information Security company) noted that the total cost of ransomware reached $1 billion in 2016. With new “strains” of ransomware spreading worldwide (such as the Russian “spora”), we should all be on high alert for this business-impacting cyber threat.

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Topics: Breach of Security, Cyber Breach, Cyber Insurance, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Ransomware, Risk Management Blog

Are you Covered? | Cyber Attacks May Cause Property Damage

Posted by Jon Edwards on Jan 10, 2017 2:16:47 PM

Traditionally, a cyber breach occurs and otherwise private information is stolen or made public resulting in costs such as notification expenses, IT forensics, data recovery, public relations/crisis management, legal defense, business interruption, brand/reputation damage and regulatory fines and penalties; just to name a few. However, the breadth of cyber-attacks has proven to be ever expanding.  Now, breaches resulting in physical property damage are being reported more regularly which leads to the immediate question, “am I covered for such an event?”

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Topics: Cyber Breach, Cyber Risk, Data Breach, Property Risk, Risk Management Blog

But, the Data was Encrypted... | California Data Breach Notification Law Amendment

Posted by Jon Edwards on Nov 22, 2016 2:52:03 PM

Back in May 2016 I posted a blog (Be Prepared – Data Breach Notification Laws are Changing), which covered how data breach notification laws were evolving.  At that time the state of Tennessee amended its law, becoming the first state in the nation to require notification of any data breach, whether the information is encrypted or not.  I also predicted that state laws would most likely become stricter in the not too distant future…

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Topics: Breach of Security, California Data Breach Notification Law; Data Brea, Cyber Breach, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Personally Identifiable Information, PII, Protection Bill AB2828, Risk management, Risk Management Blog

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