6 Ways to Teach Your Employees to Safeguard Your Data

Posted by Jon Edwards on Mar 21, 2017 1:10:28 PM

This is an actual picture I took in a café of an unattended pile of documents marked “Confidential.” It blew my mind. If only this employee’s C.E.O. or C.O.O. could see this obvious disregard for the material’s confidentiality. Anyone could have grabbed the documents, peaked at the data, or… snapped a photo.

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Topics: Cyber Liability, Cyber Risk, Cyber Risk Mitigation, Data Breach, 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

Election Day | Cyber Concern Runs High

Posted by Jon Edwards on Nov 8, 2016 1:41:30 PM

As the world focuses on the outcome of the contentious Presidential race between Trump and Clinton, the US government is on high alert for potential Election Day cyber attacks.  The current global cyber climate, this summer’s Russian hack of the Democratic National Committee, and a recent string of Distributed Denial of Service (DDoS) attacks have intelligence officials highly concerned that cyber event(s) could seriously infringe on today’s election process.

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Topics: Breach of Security, Cyber Breach, Cyber Insurance, Cyber Risk, Cyber Security, Data Breach, Election Day Cyber Alert, Election Day Cyber Attack, High Alert Election Day Cyber Attack, Risk Management Blog

Presidential Election Cyber Vulnerabilities | What Can We Learn?

Posted by Jon Edwards on Nov 1, 2016 3:54:15 PM

With the Presidential Election only days away, the question remains: Will the election be hacked? In this case, a cyber breach can lead to two major issues. The first is stolen data of registered voters; the second issue and perhaps the more frightening one – manipulation of the election results.

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

What’s Behind the Counter? Enterprise Risk Management Can Be a Retailer’s Edge

Posted by Andrew Masini on Oct 19, 2016 7:06:42 PM

Enterprise Risk Management (ERM) concepts can help retailers create a competitive advantage out of the business of managing risk. ERM’s “portfolio view” collects all risk and mitigation activity into a single Risk Register. This enables management to coordinate mitigation efforts across functions, rather than leaving risk to be managed in a patchwork fashion among various pockets in the organization. These are the critical areas for retail organizations where embracing an ERM approach adds value and opportunities that would likely otherwise be “missed:”

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Topics: Cyber Breach, Cyber Risk, Data Breach, Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Reputational Risk, Retail Risk Management, Risk management, Risk Management Assessment, Risk Management Blog, Risk Register, Social Media Risk

Don’t Be “Phooled” | Phishing Scams Work!

Posted by Jon Edwards on Sep 13, 2016 3:57:40 PM

The Personally Identifiable Information (“PII”) of approximately 10,000 past and present employees of Seagate Technology, a leading electronics and data storage solutions manufacturer, was handed over freely to cybercriminals. The information included W-2 forms, names of beneficiaries, social security numbers of employees and spouses, etc. Needless to say, the impacted people are not thrilled and have brought suit against Seagate for malpractice and a lack of regard for employees affected by the negligent handling of data.

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Topics: Breach of Security, Cyber Breach, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Phishing Scam, Risk Management Blog, Seagate Class Action Suite, Seagate Cyber Attack, Seagate Phishing Scam

The ALS Group

Risk Management Blog

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

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