These days, with most of us stuck at home and doing the majority of shopping and banking online, the risk of cyber criminals hacking into our networks to get to our bank accounts and/or personal information is greater than ever. While we have made considerable advances in cyber-security, so have the cyber criminals which is one of the reasons we are starting to see insurance policies that protect personal information in the event of a breach.
The market for this type of insurance is still new, but it can be quite inexpensive to add cyber protection to homeowner’s policy if the insurer who wrote the policy provides it.
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Topics:
Cyber Insurance,
Cyber Risk Mitigation,
fraud,
homeowner's insurance
A new development has occurred in the FACC cyber “fake-president fraud” case.
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Topics:
Cyber Insurance,
Cyber Risk Mitigation,
Cyber Security,
Phishing Scam,
Risk management,
Risk Mitigation,
Total Cost of Risk (TCoR),
cyber attacks,
what is total cost of risk,
ceo scams,
cfo scams,
ceo fraud,
what is risk management
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
What does the new order do?
On May 11th 2017, President Trump issued the new, signed cyber security executive order that demands each federal agency and department head will be held accountable for cyber security risk to their enterprises; an initiative to better protect the federal government's critical data and systems. It outlines the cyber-risk reporting requirements that they must adhere to and names the framework that they'll use as the standard.
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Topics:
Cyber Risk,
Cyber Risk Mitigation,
Cyber Security
The cyber security world evolves at a breakneck pace. For those not following closely, new developments can be unexpected and downright scary.
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Topics:
Cyber Liability,
Cyber Risk,
Cyber Risk Mitigation,
Cyber Security,
cyber attacks
Identity theft is the fastest growing crime in the United States. Each year, more than 15 million Americans fall victim. It’s also the number one consumer complaint received by the Federal Trade Commission.
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Topics:
Cyber Insurance,
Cyber Risk,
Cyber Risk Mitigation
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 affecting companies like:
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Topics:
Cyber Breach,
Cyber Insurance,
Cyber Liability,
Cyber Risk,
Cyber Risk Mitigation,
cyber attacks
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
Cyber risk continues to evolve at a breakneck pace.
Insurers are working to keep up by customizing policies and endorsements based on the size and business model of the insured. At last week’s third annual International Cyber Risk Management Conference, Matthew Davies, Assistant Vice President of Chubb Insurance Company of Canada, outlined a few key points on what cyber security practices a small organization to already have in place when looking to procure cyber insurance.
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Topics:
Cyber Insurance,
Cyber Liability,
Cyber Risk,
Cyber Risk Mitigation,
Cyber Security
The Pokemon Go phenomena is real. Players of the mobile device augmented reality “scavenger hunt” app are out on the streets in droves hunting down Pikachu, Psyduck, Bulbasaur, Charmander and other elusive Nintendo based cartoon characters. Chances are you or someone you know is playing the game…don’t lie, you’re playing it aren’t you? The mobile game developed by Nintendo partner Niantic has caused Nintendo’s stock to jump 36% adding $7 billion to its market cap.
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Topics:
Cyber Risk,
Cyber Risk Mitigation,
Mobile Security,
Pokemon Go,
Risk Management Blog