When Henry Ford started churning out Model Ts on his assembly line in 1908, there hadn’t been an automobile fatality in nearly 40 years — not since Mary Ward was run over by a steam-powered car in Ireland in 1869. 614 more words
Tags » Cyber Insurance
On September 11 Alston & Bird, a law firm, hosted an event in D.C. on the evolving cyber insurance market. Speakers addressed a few key questions, including whether cyber insurance coverage could be reasonably priced and whether cyber insurance could require companies to take protective measures, as is currently the case in fire insurance. 316 more words
Please check out: "If Your System Was Attacked By 'Backoff' Malware, Would Your Insurance Cover A Data Breach Involving Credit Card Numbers?"
I wrote a post that discusses the disclosure of so-called “Backoff” malware by the Department of Homeland Security. I also discuss and how insurance might apply to retailers and card processors facing a data privacy incident (or a data breach) with allegedly exposed credit cards, debit cards, and payment cards in general as a result of a Backoff malware attack. 28 more words
Breaking news earlier this month reported one of the biggest cyber attacks ever. A cybercrime gang of less than a dozen people from south central Russia had amassed a staggering 1.2 billion user name and password combinations and 500 million email addresses from poorly protected sites. 1,242 more words
Written by Gal Landesman
In recent years, insurance companies have been finding themselves affected by the rising number of major incidents of cyberattacks. On the one hand, this trend presents a business opportunity for selling cyber insurance to organizations concerned about protecting their sensitive assets. 655 more words