Cyber Risk News

International Monetary Fund Cyber Attack Boosts Calls for Global Action

Governments, multinational corporations and global institutions are losing the battle against computer hackers and must combine their resources if they are to lock out cyber intruders, experts say. The International Monetary Fund has joined Sony and Google on a growing …

Citi Says Hackers Accessed Bank Card Data in May

Citigroup Inc. said computer hackers breached the bank’s network and accessed the data of about 200,000 bank card holders in North America, the latest of a string of cyber attacks on high-profile companies. Citi said the names of customers, account …

U.S. Urges Code of Conduct for Internet Commerce

Companies using the Internet to do business should adhere to a code of conduct to reduce hacking and online theft, the U.S. Commerce Department said in a report issued Wednesday. The department recommended improved methods for authenticating identity in a …

Risk of Cyber Attacks Escalation Rises as Technology Outpaces Policy

From the satellite pictures on Google Earth, Jinan looks like any other Chinese city — sprawling construction sites, massive factory blocks, apartment buildings, a university, dozens of railway lines and wide-open plazas. But according to the Internet giant, somewhere in …

White House to Propose Cybersecurity Legislation

White House officials Thursday planned to unveil a major legislative proposal aimed at improving U.S. cybersecurity and protecting the economy, an administration official said. The proposal is the result of two and one-half years of work. U.S. computers have long …

Credit Card Data Breached in PlayStation Outage

“Sony Corp. said that the credit card data of PlayStation users around the world may have been stolen in a hack that forced it to shut down its PlayStation Network for the past week, disconnecting 77 million user accounts. Some …

U.S. Shuts Down Massive Cyber Theft Ring

U.S. authorities claimed one of their biggest victories against cyber crime as they shut down a ring they said used malicious software to take control of more than 2 million PCs around the world, and may have led to theft …

5 Steps to Protect Organizations From Cyber Liability

Because cyber crime has developed into a problem with potentially catastrophic consequences, cyber risk is arguably one of the single greatest threats facing companies today. The 2009 Computer Crime and Security Survey conducted by the Computer Security Institute found that …

Cyber Guerillas Present Security Risk with Unpredictable Attacks

If anyone needed proof that cyber activists can create havoc in the real world, the last few weeks have provided evidence in megabytes. Rallying behind WikiLeaks, the thousands of internet activists who made headlines in December by bringing down the …

Top 5 Things Affecting Excess & Surplus Market in 2011

It has been a challenging few years for those in the excess and surplus (E&S) lines insurance market. An endless soft market, extreme competition from the standard markets, and a bad economy left wholesale and retail agents scrambling to retain …