Latest Cyber Headlines
All the headlines from our Cyber Topic Page, ordered by recency.
Viewpoint: What Insurance Industry Should Acknowledge About Small Business Cyber
Jul 30 2019 // The 2018 Verizon Data Breach Investigations Report cited that 58% of cyber-attack victims were small businesses, and the 2019 Symantec Internet Threat Report stated that employees working at small businesses were more...
The Evolution of Cyber Liability Exposure and Coverage
Jul 29 2019 // On July 25, Insurance Journal’s Academy of Insurance hosted a webinar by Joe Harrington, entitled The Evolution of Cyber Liability. Joe started the session in the early days of cyber liability when it was a fringe...
Capital One Reports Data Breach of 100 Million Accounts; Suspect Arrested
Jul 29 2019 // Capital One Financial Corp. said on Monday personal information including names, addresses, phone numbers and credit scores of about 100 million individuals in the United States and 6 million people in Canada were obtained...
CFC Underwriting Taps Francis from Aon/Stroz Friedberg as Cyber Claims Director
Jul 26 2019 // CFC Underwriting, the London-based managing general agent that specializes in emerging risks, announced the appointment of Roger Francis as Cyber Claims director. Francis will lead CFC’s cyber claims and incident...
Group of German Companies – Including BASF, Siemens, Roche – Hit by Cyber Attacks
Jul 24 2019 // German blue-chip companies BASF, Siemens, Henkel along with a host of others said on Wednesday they had been victims of cyber attacks, confirming a German media report which said the likely culprit was a state-backed...
Cost of Norsk Hydro Cyber Attack Higher than Expected at Nearly $75 Million
Jul 24 2019 // Aluminum producer Norsk Hydro has managed to ramp up operations at its Alunorte refinery in Brazil despite a cyber attack in March, the firm said on Tuesday, boosting its shares. The Norwegian company’s stock rose as...
Largest U.S. Data Breach Settlements with Government Include 3 Insurers
Jul 23 2019 // The U.S. Federal Trade Commission announced on Monday that Equifax Inc. will pay up to $700 million for a data breach that exposed millions of consumers’ personal information. The following are seven of the largest...
Equifax’s $700 Million Data Breach Settlement Criticized
Jul 23 2019 // Credit-reporting company Equifax Inc will pay up to $700 million to settle claims it broke the law during a massive 2017 data breach and to repay harmed consumers, in a landmark settlement that was nonetheless criticized...
Equifax’s $700 Million Data Breach Settlement Includes $300 Million for Consumers
Jul 22 2019 // Credit-reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday. The largest-ever settlement for...
Liberty Specialty Forms Cyber Centre of Excellence; Rigby Named Chief Cyber Officer
Jul 22 2019 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Jon Rigby to the newly created role of chief cyber officer. He will report to Peter Smith, executive underwriting officer. Rigby will...
CFC Adds Range of Risk Management Services to Tech Insurance Offering
Jul 17 2019 // Specialist insurance provider CFC Underwriting has added a range of free risk management services to its insurance offering for technology companies. CFC, which is a London-based managing general agent, said it has teamed...
Premera Blue Cross in Northwest to Pay States $10M in Data Breach
Jul 16 2019 // Premera Blue Cross, the largest health insurer in the Pacific Northwest, has agreed to pay $10 million to 30 states following an investigation into a data breach that exposed confidential information on more than 10...
AIG Names Accenture’s Parker as Information Security Deputy Chief
Jul 15 2019 // American International Group reported that Tom Parker is joining the company as deputy chief Information Security officer. Parker will work with Rich Baich, AIG’s chief Information Security officer, on global...
Cyber Alert: New Era in Privacy Liability to Begin. California’s Data Privacy Law Could Be Game-Changer
Jul 15 2019 // As the nation’s most far-reaching data privacy law, California Consumer Privacy Act (CCPA), is set to begin Jan. 1, 2020, businesses and their insurers are preparing for a new era in cyber liability. Anxiety is on...
Large French Companies Increasingly Are Targeted by Ransomware Attacks
Jul 12 2019 // Large companies in France are increasingly the targets of cyber attackers who lock up data and demand a ransom, but often refrain from reporting the assaults for fear of hurting their image, according to the French...
Marriott Faces $124M Fine for Massive Data Breach Under New Data Protection Rules
Jul 11 2019 // The massive hacking of Marriott International Inc. reservation databases could lead to a 99 million-pound ($124 million) fine as the U.K. cracked down on privacy breaches with its second major penalty notice in two...
Lockton Affinity to Administer New Standalone Cyber Liability Product
Jul 11 2019 // Lockton Affinity has been appointed as the program administrator for the new CyberLock Defense standalone cyber liability policy with options for more than 40 industry groups including retail, industrial &...
ProWriters Adds New Companies, Features to Cyber Coverage Platform
Jul 9 2019 // ProWriters Insurance Services has added CFC Underwriting Ltd. and insurtech startup At-Bay writing on Hartford Steam Boiler paper to its Cyber IQ platform. ProWriters introduced its Cyber IQ platform comparative rating...
Maryland Agency Outlines Response to Cybersecurity Incident
Jul 8 2019 // The Maryland Department of Labor has started notifying about 78,000 customers about potential unauthorized activity in two of its database systems. The department said Friday that while some personally identifiable...
Brit Global Adds AIG, NAS Cyber Specialists to U.S. Cyber & Technology Practice
Jul 8 2019 // James Patterson and Ryan Mimmo have been appointed vice presidents of Cyber & Technology for Brit Global Specialty USA. They are based in San Francisco and New York, respectively, and are responsible for underwriting...
